Canadian, U.S. Energy Leaders Warn Strict Environmental Policies Contributing to Inflation

Canadian oil and gas leaders and a former U.S. ambassador warned Monday that inflationary pressure and volatile energy markets impacting North America and Europe are directly related to restrictive environmental policies.

“The influence of energy is so large it’s difficult to comprehend,” Alberta industry elder statesman Mac Van Wielingen said Monday during the Pacific NorthWest Annual Summit in Calgary. 

Neglect of oil and gas supply reliability, security and affordability creates a ripple effect, raising the cost of commuting, heating homes and manufacturing, Van Wielingen said.

He estimated that two-thirds of global greenhouse gas (GHG) emissions come from developing countries that lack income needed to act on worldwide reduction targets that wealthy nations demand...