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Issue
Under the influence of radical environmental activists and American left-wing foundations, the Trudeau government has done everything it can to stifle the growth of Canada’s oil industry by preventing it from transporting and selling its products.
With Bill C-48, the Liberals imposed a ban on oil tanker traffic on the north coast of British Columbia, which brought the cancellation of the Northern Gateway and Eagle Spirit pipeline projects. After years of legal uncertainty, investors pulled out of the Trans Mountain pipeline expansion project and sold it to the federal government for $4.5 billion. It is still uncertain when it will be completed.
Unrealistic environmental requirements from the National Energy Board also killed the Energy East pipeline. Finally, Bill C-69 makes the process of building pipelines and other major energy projects so complex and difficult that it could prevent any new investment. Among other things, that bill requires projects to be analyzed based on “the intersection of sex and gender with other identity factors.”
Because of these constraints, capital investments in the oil and gas industry have collapsed, from $81 billion in 2014 to $37 billion in 2019. Our overdependence on the American market for exports also costs the Canadians economy billions of dollars in foregone revenues every year. Alberta’s economy has suffered a major setback, with tens of thousands of jobs disappearing in the oil patch and many more in local communities that depend on this industry.
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See Also:
(1) Court challenge brings new threat to pipeline and Alberta’s finances
(2) After $700,000 spent on dream home, wetlands freeze leaves them high and dry
