A de-commissioned pumpjack is shown at a well head on an oil and gas installation near Cremona, Alta., Saturday, Oct. 29, 2016. Jeff McIntosh/The Canadian Press.

The excessive cost of 'phasing out' Canada’s oil and gas production

Many Canadians seem to think that phasing out the production of Canadian oil and gas would be an effective way for the country to achieve its net zero objective. And there is no doubt that using such a policy approach could very significantly reduce GHG emissions. The problem is that the economic costs of taking such an approach would be very high.