The Canadian Association of Petroleum Producers (CAPP) is urging Canadians to vote for energy in the ballot box during October’s federal election.
Canada’s next federal government has an opportunity to help define a strategic, long-term vision for the growth of Canada’s oil and natural gas sector, said CAPP in releasing Oil and Natural Gas Priorities: Putting Canada on the World Stage. It said that vision should promote jobs and a healthy economy for all Canadians, while being part of the solution to meet growing global energy demand with responsibly developed energy.
“Canadians know how important the oil and natural gas industry is to the country. Our values are shared values. A vote for energy is a vote for Canada’s future and sends the message Canada can, and should, be supplying energy to the world,” said Tim McMillan, the organization’s president and CEO, in a news release on Monday to launch the initiative.
“Canada has lost its competitive edge as a result of regulatory and policy changes that have scared investors away. It’s time to attract global investment back to Canada’s oil and natural gas industry with greater regulatory clarity, and fiscal and economic policies that allow us to compete globally.
“It should be a priority for the next federal government to position Canada for success by supporting the completion of major pipelines and LNG projects and making Canada globally competitive again.”
CAPP said the job of the next federal government is to create the conditions necessary for Canada to play a key role on the world stage. It said the government needs to create the conditions to:
- support the completion of proposed major pipeline and liquefied natural gas projects;
- supply Canada’s domestic oil and natural gas needs with domestic production;
- increase participation in Indigenous communities and businesses in Canada’s oil and natural gas sector;
- double current investment in the sector within the next four years, to return to or surpass 2014 levels;
- grow Canada’s contribution to global oil and natural gas supply.
CAPP said it’s also the federal government’s job to enable national prosperity with a regulatory regime that assesses oil and natural gas projects in a timely manner, and provides certainty to Canadians and investors. Bringing investment back to Canada, and building a growing oil and natural gas industry could yield significant socio-economic benefits across the country.
“Resource development contributes to Indigenous prosperity and self-determination through the creation of sustainable economies. Canada’s oil and natural gas industry holds a path to inclusive and sustainable growth for many Indigenous communities and we are committed to working together toward these goals,” added McMillan.
CAPP represents companies, large and small, that explore for, develop and produce natural gas and oil throughout Canada. CAPP’s member companies produce about 80 per cent of Canada’s natural gas and oil.
Mario Toneguzzi is a Troy Media business reporter based in Calgary. He writes for Calgary’s Business.