Trudeau Government Hitting Canadian Energy Industry With Billions More In Regulatory Costs

While other nations make the most of their resources, the Trudeau government adds more to the regulatory burden faced by Canada’s energy sector.

The Trudeau government is hitting Canada’s energy industry with another $3.9 billion in regulatory costs.

The costs relate to regulations the government claims will reduce methane emissions.

Between now and 2035, the regulations will cost the energy industry $230 million per year.

On the government website, the regulations are called “Regulations Respecting Reduction in the Release of Methane and Certain Volatile Organic Compounds (Upstream Oil and Gas Sector).”

As noted by the National Observer, the government claims that $1 billion of those costs “can be offset by recovering and selling┬áthe methane.”

However, the Canadian Association of Petroleum Producers (CAPP), doubts that figure, and says the regulations imposed by the federal government will be very costly.

Another anchor on Canada’s energy industry

The Trudeau government is bragging about how their new regulations are the strongest in the world. What that really means is the Trudeau government is adding the largest possible burden onto Canada’s energy sector – even though our energy sector already has an environmental record that is second to none.

It’s another example of the government putting environmental virtue-signalling ahead of supporting an essential Canadian industry. Every chance they get, the Trudeau government adds more of a burden on our energy industry, strangling it from growth and destroying our prosperity.

Yet another anchor is being placed upon an already struggling industry, and our competitiveness will only get worse so long as this government is in power. At this point, it will be no surprise if even more investment flees our country.

Spencer Fernando

Photos – YouTube

*****
SpencerFernando.com will never have a paywall, and I will never charge for content.
If you would like to voluntarily support my journalism, there are two ways you can contribute:
Monthly contribution through Patreon
 Donation through PayPal:



12
Share Your Thoughts

avatar
10 Comment threads
2 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
11 Comment authors
Brian DouganEric BlairClive EdwardsSubseaJoeTrudeau Government Hitting Canadian Energy Industry With Billions More In Regulatory Costs | Cultural Action Party of Canada Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
NancyW
Guest
NancyW

And yet they supposedly just gave BP oil the OK to start drilling just off of Nova Scotia???? This all seems to be against Alberta and Saskatchewan???? It looks like the Lieberal goal is to keep dividing us up, as a once good country, do they even think about how to keep Canada working, seems not, Ontario has fallen badly under the Lieberal secretive destructive wraith agenda, actually the whole country seems to be in a free fall, huge debt and they just have to destroy Alberta and we are gone, we will not be able to pay the interest… Read more »

SubseaJoe
Guest
SubseaJoe

Any Deep water offshore drilling offshore Canada does not have a viable BOP intervention system, the ROVs they are using are under powered and could not close the Shear Rams within the “guidelines” of API 53. If there was a BOP blow out the stacking cap is 2 to 3 week week away in Norway, so we would have a gushing well for that period of time. So yes it seems that Trudeau is only targeting Alberta and Saskatchewan, Atlantic Canada gets a free pass because they are Liberal.

Eric Blair
Guest
Eric Blair

And yet they have a PM from that province time and time again except for Harper and a smatter of others who PMship lasted mere months each. Ever since Pearson’s time as PM (who was the last PM from Ontario by the way) there has been a PM from that province since (Trudeau I, Chretien, Martin, Mulroney and Trudeau II) for a grand total of 40 or so years out of a 50 year period. So is it little wonder they get so much and are protected.

Shawn Harris
Guest
Shawn Harris

The Liberals and Trudeau are akin to pouring more fuel onto already out of control fire. The oil industry is already being burned down to the ground by Trudeau and now he wants to vapourize what’s left of it. These new measures are a double edged sword, in that they not only will drain more money from the oil industry, it will also force more of the industry investors and foreign investment to flee Canada, as Trudeau increases his anti business message to Canadians and the world. The worst part of Trudeau’s handling of the oil industry and our economy… Read more »

Bradley
Guest
Bradley

All we have to do is look south to what Obama and the Democrats did to the energy sector EPA regulations were hundreds of $Billions, also on Obamas watch $120 Billion to prove AGW/ACC {not to study} but ‘Prove’ Anthropologic Climate Change.

Ron Shaw
Guest
Ron Shaw

Sixty seven years .. a proud Albertan , eighteen months..embarrassed to be a Canadian!

Del
Guest
Del

No mention of the upstream devastation from steel and aluminum production. Steel is processed from iron ore using massive amounts of metallurgical COAL. That ore has to be mined and transported, that coal has to be mined and transported and all the waste has to be disposed of. It is maddening that none of this was considered when Trudeau praised the steel and aluminum industries. Including the upstream and downstream devastation, those industries should really be shut down and those metals purchased from China.

Liberals are disgusting and offensive.

Canucklen
Guest
Canucklen

He is doing exactly what I predicted he would do — pillage and rape western Canada until there’s nothing left, just like his old man did.
This costume boy narcissist has got to be sent packing at the next election, if Canada can even hold out that long.
He hates Canada, and has proven it over and over.
You libs who voted for him — are you happy now that you can actually see and measure the destruction of this once-great country?
Proud of your blatant stupidity yet …??

Bonnie Rybicki
Guest
Bonnie Rybicki

This is all just part of Gerald Butts plan. Trudeau will do the same thing to Kinder Morgan, that he did to Energy East, in that he will add so many regulations and costs onto the project, that they will drop it, and then the tool will stand there and say “Well it’s not my fault, I approved it, it is THEY that pulled out”, without even a mention of WHY!! Then he can appeal to the oil people by saying, I tried, AND appeal to the protestors by saying, yeah we got rid of that dirty oil, didn’t we?… Read more »

Clive Edwards
Guest
Clive Edwards

Calm down and wait for the Chinese to take over, which is Turdeau’s plan. The rest of us will still be paying the interest on the national debt, which goes to the “old money” bankers, not the new ones.

More fun: Suzuki (not the motorcycle firm) is getting an honorary degree from the University of Calgary. Did Soros make a donation to the Alma Mater Society on Suzuki’s behalf? Albertans can’t be that stupid, can they?

Brian Dougan
Guest

Once businesses leave what remains of Canada–They won’t return. What is the end game of traitors like Trudeau? His agenda seems to be an extreme makeover [His version of Obama’s “Fundamental transformation” of the USA.] However; once the “old stock” (Caucasian) Canadians are reduced to minorities in their own country–and the economy is seriously weakened–Who pays the bills?? The liberals want power and control…..over what? A dead country?? That’s where we are headed. A Western version of Bangladesh. Not to mention the Muslim takeover; with Sharia Law. I suppose the liberals want to be king of Canada’s version of Smokey… Read more »