CALGARY, AB (June 11, 2018) – Today, in an address to the Canadian Global Exploration Forum, United Conservative Leader Jason Kenney called on the federal Liberal and Alberta NDP governments to show leadership when it comes to Canada’s oil and gas sector and the jobs that depend on it.
“The suite of federal and provincial policies that have been introduced in recent years have combined to put Canada, and Alberta, at a huge competitive disadvantage compared to other energy-producing jurisdictions,” said Kenney. “Policies like hard emissions caps, Trudeau’s West-coast tanker ban, and the regulation of both upstream and downstream emissions have driven hundreds of billions in investment away, and transformed Canada from one of the best places in the world to invest into one of the worst.”
Kenney spoke about the impact that this lack of investor confidence has had on Canada’s energy industry over the last several years, including:
- Canada’s share of North American energy investment has fallen from 10 per cent to two per cent;
- Total capital spending in our oil and gas industry has fallen 47 per cent between 2014 and 2017;
- In the last three years alone, Canada has lost more than $56 billion in investment; and
- Major pipeline projects like Northern Gateway and Energy East have been cancelled, while the Trans Mountain expansion and Eagle Spirit hang in the balance, facing continued uncertainty.
“A successful oil and gas industry makes it possible for families to look after their loved ones, to make ends meet, and to work for a better future,” said Kenney. “The cumulative impacts of federal and provincial policy frameworks threaten the very survival of the industry that has for decades been the economic engine of our country and the source of good, mortgage-paying jobs for Albertans. Justin Trudeau and the NDP must start taking investor confidence seriously and implement policies that can start to turn things around because the world needs Canadian energy.”