Canada’s economy is performing better than expected, with higher-than-anticipated growth in GDP in the first quarter of 2023. Despite this, the economy remains fragile and rash government moves could have unintended consequences. The industries driving growth, such as mining, quarrying, and oil and gas, are all high emitters of greenhouse gases and are targeted by Canada’s emissions cap. A recent report suggests that the emissions cap will cause economic damage while offering little to no environmental benefits. Inflation and a growing cost of living have been affecting Canadians, and having vast energy deposits in Western Canada helps offset high energy costs. However, the emissions cap may harm investment and drive businesses to countries with fewer restrictions, potentially making the global environment worse. As demand for oil is predicted to rise in the coming years, Canada may miss out on a growing world market due to the emissions cap. The petrochemical sector, which is essential for producing a variety of products, also faces an uncertain future if production is chilled due to the emissions cap. Decision-makers need to consider economic realities and set aside ideologies to prevent a heavy price being paid in the future.