#3 – Canada Must Reduce Regulatory Barriers and Attract Investment
Answer
Canadians can no longer afford to miss out on economy-boosting opportunities to develop our vast wealth of energy, forestry, mining, and agriculture resources. That means streamlining our regulatory systems and prioritizing natural resource projects to bring back investor confidence and job creation to 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 in an ever-changing global market.
Several now-cancelled LNG facilities in Canada, for example, like the $36 billion Pacific Northwest LNG project, underwent gruelling regulatory processes with exceptionally high costs and no assurances from Canadian governments – all leading 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.
