The Canadian Association of Petroleum Producers (CAPP) is asking the federal government to pause and review its plans for Bill C-69.
The association, in a news release on Monday, said proposed changes to the National Energy Board Act and the Canadian Environmental Assessment Act “will make the regulatory process more complicated, time consuming, legally vulnerable and, ultimately, erode public and investor confidence.”
“By working collaboratively with the oil and natural gas industry and other stakeholders, the government can make the bill what Canada needs it to be – a framework for an efficient process that maintains high environmental standards and in which Canadians and investors can be confident,” said CAPP.
“The proposed Bill C-69, in its current form, will be a significant barrier to future investment and put jobs at risk, from coast to coast to coast.”
Tim McMillan, CAPP’s president and CEO, said barriers to investment already exist, adding that any changes to the regulatory system, without thoughtful consideration, could be detrimental to future projects.
“It’s important the government of Canada gets Bill C-69 right the first time – we can’t afford to get this wrong. Creating unnecessary barriers to investment isn’t good for anyone. The livelihoods of Canadian families and communities are at stake,” said McMillan. “In order to get Bill C-69 right the first time, government needs to pause and further consider the long-term impacts of major changes to federal legislation on the Canadian economy.
“The Canadian oil and gas sector presents a significant opportunity for inclusive growth that provides broad benefits to Canadians and is aligned with Canada’s economic, environmental and social objectives – an opportunity that is put at risk in the event we don’t get the bill right. Discussions between industry and government are vital and CAPP continues to engage and to provide constructive support to allow the government to make the meaningful changes needed in Bill C-69.”
CAPP said the oil and natural gas industry contributed $109 billion in direct real gross domestic product in 2017 (6.25 per cent of Canada’s total). It also contributed $12 billion in average annual revenue to governments between 2014 and 2016. CAPP added that $3.3 billion was invested in 396 Indigenous businesses in 66 communities in 2015 and 2016 and 533,000 direct and indirect jobs in 2017.
Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald, including 12 years as a senior business writer.
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