Fast Track Canada
Do you agree that Canada should fast track responsible natural resource development?
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Canada has abundant opportunities to provide the world with natural resources, which creates an immense amount of prosperity for all Canadians.
In many cases, the only thing standing in the way of projects that would create thousands of jobs and billions of dollars in economic activity is a lengthy, often uncertain regulatory process.
Here are some of the many examples of projects that we lost to our uncertain regulatory process:
- The $20.6B Tech Frontier mine proposal was abandoned after 9 years of fruitless negotiations with the Canadian government.
- A B.C. mine in the Morrison lake region was tied up in regulatory review for 18 years before ultimately being denied this past spring.
- Despite the current global natural gas shortage, only one international export terminal for LNG has been approved, and there are still 18 different proposals stuck in the review process, many of which have been in the queue for years.
The list goes on and on.
What’s more, the lengthy and uncertain regulatory reviews can completely discourage companies from even thinking about proposing projects that would otherwise be moving forward. It’s reasonable to assume that there are countless huge economic opportunities that our governments were never given the opportunity to consider, simply because investors are intimidated by our track record of having boundless regulatory hang ups.
Our economy's future is waiting.
There is no future scenario where the world does not continue to need huge amounts of these mining and energy resources to continue supporting both existing and new technologies.
Energy supply such as batteries, wind turbines, solar panels and nuclear power simply cannot exist without a wide range of metals and minerals, many of which can be found right here in Canada.
In fact, investing in exploration and extraction of these resources presents a very special opportunity for Canadians. In the coming years and decades, the world will be increasingly moving towards electric vehicles. As Premier Ford rightly pointed out recently, Ontario and central Canada is uniquely positioned to produce the minerals needed for EV’s and then ship them straight to our domestic factories that are already producing vehicles for the whole world.
We are one of the very few countries that is able to handle almost the entire supply chain for EV’s, all the way from mining lithium to charging batteries. In order for us to make the most of this opportunity, Canadians need a regulatory environment that can move as fast as today’s competitive global economy.
Regulatory fast tracking is essential to our whole economy.
It is essential to highlight that becoming a global technology leader is not unique to Canada’s electric vehicle industry. If we get serious about simplifying and fast tracking the regulatory reviews that are currently backlogging our nation’s economic future, every industry will benefit greatly.
Answering the world’s permanent and ongoing energy needs is another clear example of where we can and should be thriving as a nation. Whether it's supporting our responsibly produced oil and gas today or encouraging innovation for the carbon capture solutions of tomorrow, Canadians cannot afford delays.
Canada can and should be a global leader in providing the world with responsibly produced energy. While the world is in desperate search for additional natural gas we find ourselves unable to meet the global market demand, not because we don’t have the resources, but because LNG exporters have been unable to get the approvals they need to get our natural gas to tide water.
It’s time we fast track Canada’s potential and get our country moving forward.