The letter notes increasing public backing for the development of new energy infrastructure in Canada, such as oil and gas pipelines and LNG facilities.
According to the letter, Canada possesses extensive reserves of oil and natural gas and is capable of satisfying its domestic energy requirements while also exporting worldwide, rivaling any significant global producer.
Simultaneously, the nation does not have a regulatory framework that would facilitate investment in the oil and gas industry, highlights TransCanada Energy head Francois Poirier, as mentioned in the letter. He remarks that setbacks in the permitting procedure for vital infrastructure "frequently lead to billions in missed economic prospects for Canada."
Representatives from the energy companies are urging political party leaders to streamline regulations, shorten project approval timelines to 6 months, relax certain emissions limits to enable the oil and gas industry to achieve its full potential, and implement measures to draw in investments.
source: reuters.com
According to the letter, Canada possesses extensive reserves of oil and natural gas and is capable of satisfying its domestic energy requirements while also exporting worldwide, rivaling any significant global producer.
Simultaneously, the nation does not have a regulatory framework that would facilitate investment in the oil and gas industry, highlights TransCanada Energy head Francois Poirier, as mentioned in the letter. He remarks that setbacks in the permitting procedure for vital infrastructure "frequently lead to billions in missed economic prospects for Canada."
Representatives from the energy companies are urging political party leaders to streamline regulations, shorten project approval timelines to 6 months, relax certain emissions limits to enable the oil and gas industry to achieve its full potential, and implement measures to draw in investments.
source: reuters.com