Almost 5,000 workers are directly employed in processing the petroleum products Line 5 brings to Sarnia.
oil and gas investment
Last year was the first in at least 25 years that the province derived no revenue from petroleum royalties.
The legislation includes subjective criteria including the “social impact” of energy investment and its “gender implications."
Investment in the energy sector could shrink by an additional 40 per cent this year.
Bill-22 will provide much-needed certainty for future investment decisions.
While the regulatory change is welcome news, significant reforms are still required to restore investor confidence.
In total, $150 billion has left Canada from 2014 to 2018.
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.
The United States is engaged in massive regulatory reform and energy industry expansion.