(OTTAWA) – December 18 – Today’s announcement by the federal government of 1.6 billion dollars to support Canada’s struggling oil and gas sector is a band-aid, not a cure for what ails Canada’s oil and gas sector, says the Hon. Perrin Beatty, President and CEO of the Canadian Chamber of Commerce.
“The country’s struggle to get our energy products to global markets, where they can get a fair price, is the issue. It is a failure that hurts the entire country,” said Mr. Beatty. “That pain will continue until we finally build much-needed pipelines. So, while today’s announcement is a welcome recognition of how serious the issue has become and will provide some relief, it is no substitute for a clear plan to get a pipeline built.”
In the past few days, there have been a number of news stories surrounding the Canadian Chamber’s recent report A Competitive Transition: How smarter climate policy can help Canada lead the way to a low carbon economy (December 2018).
While some of the coverage notes the Chamber’s support for carbon pricing, it neglects to include that the support is contingent upon significant caveats. The report calls for government to take concrete steps to reduce the overall regulatory burden on businesses in Canada, and to return the revenues from the carbon tax to business to help them lower their carbon emissions and their energy costs.