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 the 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.
Photos – YouTube