FRASER INSTITUTE -- Bills C69 and C48 further damage investment climate of Canada’s energy sector while US investment soars
VANCOUVER— The ability of Canada’s energy sector to attract investment has been weakened by several government policies in recent years, all the while investment in the United States has soared, finds a new collection of essays released today by the Fraser Institute, an independent, non-partisan Canadian policy think-tank. “ While Canada’s energy sector has suffered from insufficient pipeline capacity, increased regulations and taxation , the U.S. energy sector has enjoyed sweeping tax reforms and a significant reduction in red tape ,” said Robert P. Murphy, Fraser Institute senior fellow and co-author of the essay Policy and Regulatory Framework Changes in the U.S. and Canadian Oil and Gas Sector . For example, Bill C-48, which bans oil tankers off British Columbia’s northern coast, and Bill C-69, which makes the approval process for major resource projects less certain and more complicated, became law last month. And Canada continues to suffer a lack of...