Compiled by Glen Hallick, MarketsFarm
WINNIPEG, July 19 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– In a discussion paper released on Monday, Canadian Environment Minister Steven Guilbeault proposed two options for reducing carbon emissions from the oil and gas sector. Guilbeault offered an industry-specific cap-and-trade system or a modified carbon pricing system, of which either is to slash emissions by 40 per cent by the end of decade. At 179 million tonnes as of 2020, Canada’s oil and gas sector accounted for more than 25 per cent of the country’s emissions, making the industry the single largest emitter. The federal government indicated it wants to have a choice in place next year.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– As a heatwave makes its way across Europe, the United Kingdom saw record temperatures on Monday peak at just over 40 degrees Celsius. Temperatures in France reached 42C and 43C in Spain. The deaths of numerous people in those countries on Monday were attributed to the heat. The record temperatures is expected to move northward on the continent Tuesday, reaching into Belgium, the Netherlands and Germany.
– Russian President Vladimir Putin arrived in Iran on Tuesday for talks with Iranian President Ebrahim Raisi and Turkish President Recep Tayyip Erdogan. The main item on the agenda is said to be the situation in Syria with its ongoing civil war, and the three countries’ involvement. However, it’s widely expected they will discuss the war in Ukraine and grain exports from the latter in particular. Meanwhile, the European Union signed a deal with Azerbaijan on Monday to double the EU’s natural gas imports to at least 20 billion cubic metres from the country by 2027.
