Federal budget regulatory plan supports responsible energy development
CALGARY, March 29, 2012 /PRNewswire/ – The federal government’s plan to improve
Canada’s regulatory process for natural resource projects will generate
more jobs and a stronger Canadian economy while ensuring continued
environmental performance, Canada’s upstream oil and natural gas
producers said today.
“Broad-based regulatory reform is fundamental to attracting investment
that creates Canadian jobs, prosperity and economic growth,” said
Canadian Association of Petroleum Producers President Dave Collyer.
“The government’s plan will improve the timeliness and efficiency of
the decision-making process while the regulatory scrutiny that
Canadians expect remains intact.”
The upstream petroleum industry is the largest single private sector
investor in Canada – investing over $50 billion each year and employing
more than 500,000 Canadians. Regulatory bottlenecks in the current
system have often led to project delays or outright cancellations due
to missed market opportunities, with a resultant reduction in economic
benefits that would flow from these delayed or foregone investments.
“The changes broadly outlined in the federal budget will improve our
business climate and competitiveness without compromising our
commitment to responsible, sustainable development,” Collyer said.
An efficient, effective regulatory system must maintain a high standard
of environmental performance – all Canadians expect responsible
environmental outcomes – while recognizing the critical importance of
energy security, reliability and economic growth.
“We must move to more efficient processes, time-limited decision-making
and better coordination both within and among governments to eliminate
regulatory overlap. Today’s announcement is a positive step and we look
forward to the federal government continuing to advance its regulatory
plan. We also encourage federal-provincial coordination of regulatory
reform initiatives, and encourage both levels of government to clarify
expectations regarding Aboriginal consultation,” Collyer said.
CAPP continues to review the entire budget document. However, Collyer
indicated that Canada’s oil and gas industry is overall encouraged by
the 2012 federal budget’s strong focus on Canadian competitiveness,
jobs and economic growth.
The Canadian Association of Petroleum Producers (CAPP) represents
companies, large and small, that explore for, develop and produce
natural gas and crude oil throughout Canada. CAPP’s member companies
produce more than 90 per cent of Canada’s natural gas and crude oil.
CAPP’s associate members provide a wide range of services that support
the upstream crude oil and natural gas industry. Together CAPP’s
members and associate members are an important part of a national
industry with revenues of about $100 billion-a-year. CAPP’s mission is
to enhance the economic sustainability of the Canadian upstream
petroleum industry in a safe and environmentally and socially
responsible manner, through constructive engagement and communication
with governments, the public and stakeholders in the communities in
which we operate.
SOURCE Canadian Association of Petroleum Producers