Awash in cash, Canadian oil patch braces for changes

CALGARY, EDMONTON — As Alberta’s oil sands reach a global scale, they are facing ever tougher environmental scrutiny and now, a new volley of federal legislation. Ottawa yesterday afternoon unveiled draft rules that would require projects starting operations in 2012 and beyond to reduce greenhouse gases, largely through carbon capture technology.

For oil producers, the bottom-line impact of the still sketchy draft legislation is difficult to assess.

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