Le Lézard
Classified in: Oil industry
Subjects: AVO, CFG

The federal government is damaging Canada's economic future with Bill C-69: CAPP


CALGARY, June 12, 2019 /CNW/ - It is now clear the federal government is ignoring the Senate and the will of Canadians, damaging the country's economic future by not accepting the package of amendments the Senate proposed to Bill C-69, the Impact Assessment Act, according to the Canadian Association of Petroleum Producers (CAPP).

Canadian Association of Petroleum Producers (CNW Group/Canadian Association of Petroleum Producers)

The amendments to Bill C-69 were developed after the biggest cross-country legislative consultation process ever held. The Government of Canada has rejected amendments that would have made this bill workable.

Energy produced the Canadian way is world class. We expect rigorous regulation and oversight. But when projects meet all reasonable regulatory requirements, proponents, and their investors need a level of certainty that those projects can be built.

In order to attract investment into Canada's economy and create jobs, CAPP has asked for a regulatory system that provides clarity and transparency through the decision-making process. Simply put, the industry asked that the rules be determined before project proponents start the process. Instead, Bill C-69 creates a system that allows for indefinite project delays and the continued stagnation of major projects which will drive even more investment out of Canada.

Some of the critical issues with Bill C-69 as currently proposed by the federal government are:

Global investors have told Canada's business community, including the oil and natural gas industry, that Bill C-69 is uncompetitive, and that they have lost confidence in Canada's ability to build anything. Major projects are being cancelled, companies are selling Canadian assets, and investing billions in other countries. Bill C-69 is a massive fail for Canadians and cannot pass.

The Canadian Association of Petroleum Producers quotes: Tim McMillan, president and CEO

Supporting information

Media Advisory: CAPP's board of directors will be available for media comment immediately thereafter.

Date:

Thursday, June 13, 2019


8:00 a.m.



Location:

The Metropolitan Centre


333-4 Avenue SW


Calgary, Alta.

 

The Canadian Association of Petroleum Producers (CAPP) represents companies, large and small, that explore for, develop and produce natural gas and oil throughout Canada. CAPP's member companies produce about 80 per cent of Canada's natural gas and oil. CAPP's associate members provide a wide range of services that support the upstream oil and natural gas industry. Together CAPP's members and associate members are an important part of a national industry with revenues from oil and natural gas production of about $101 billion a year. CAPP's mission, on behalf of the Canadian upstream oil and natural gas industry, is to advocate for and enable economic competitiveness and safe, environmentally and socially responsible performance.

SOURCE Canadian Association of Petroleum Producers


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