While the regulatory change is welcome news, significant reforms are still required to restore investor confidence.
oil and gas industry
The Trudeau government’s national carbon tax will increase costs in the petroleum manufacturing sector by 25 per cent.
You don’t make your country richer by imposing taxes on your consumers.
Canada’s energy sector employed (directly and indirectly) more than 830,000 workers.
Canada’s energy sector employed (directly and indirectly) and supported more than 830,000 jobs.
So-called "trade-exposed” industries are the least able to pass on higher costs to consumers.
Saskatchewan tops in the eyes of oil and gas investors, but there’s considerable room for improvement
Investors pointed to regulatory duplication and inconsistencies, which deterred 48 per cent of survey respondents.
Disputed land claims remain a concern for investors.
Foreign direct investment in Canada dropped 56 per cent between 2013 and 2017.
In 2018, 73 per cent of respondents said compliance costs were a deterrent to investment compared to only 32 per cent in 2013.