#3 – Canada Must Reduce Regulatory Barriers and Attract Investment

Canadians can no longer afford to miss out on economy-boosting opportunities to develop our vast wealth of energy, forestry, mining, and agricultural resources. That means streamlining our regulatory systems and prioritizing natural resource projects to restore investor confidence and spur job creation in our country.

Overburdening and unnecessary regulations like the oil and gas emissions cap and the West Coast tanker ban – while global oil and gas demand is growing to new record highs – do nothing to promote Canadian competitiveness and prosperity in an ever-changing global market.

For example, several now-cancelled LNG facilities in Canada, such as the $36 billion Pacific Northwest LNG project, underwent gruelling regulatory processes with exceptionally high costs and no assurances from Canadian governments—all of which led to their eventual demise ^[6]. All this, despite many countries including Germany, Japan, and South Korea that have said they want or would support Canadian-made LNG.