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A junior oil and gas company fears the province’s announced cap on greenhouse gas emissions in the oilsands will block smaller projects in favour of larger players who will be “hogging the cap.”

The Alberta government on Tuesday introduced a bill in the legislature that would forbid oilsands operators from emitting more than 100 megatonnes of greenhouse gases a year.

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But the province has not identified its plans to manage the cap or how it will decide whether projects are allowed to proceed based on their projected emissions.

Mark Smith, chief executive of the Calgary-based junior Surmont Energy Ltd., said he will have trouble securing financing for his proposed oilsands project south of Fort McMurray if he doesn’t know it will fit within the emissions cap.

Smith said he is worried larger companies will be allowed to “game the system” by filling the emissions cap, potentially scuttling smaller projects.