Federal budget improves and strengthens regulatory process
CALGARY, March 20 /CNW/ - Yesterday's federal budget saw the Government
of Canada demonstrate its commitment to improving the efficiency and
strengthening the effectiveness of regulatory processes governing major
national infrastructure projects such as oil and gas pipeline development,
said David MacInnis, President of the Canadian Energy Pipeline Association
Mr. MacInnis said that if the Government of Canada achieves its goal to
halve the length of time it takes to decide on a project proposal such as a
pipeline, Canadians will be the primary beneficiaries.
"In the case of projects that get approved, this will mean more timely
job creation, governments will get their tax revenue sooner, and consumers
will enjoy the moderating influence on prices that moving additional supply to
market will have," he said.
Federal Finance Minister Jim Flaherty announced the creation of the Major
Projects Management Office (MPMO) along with the allocation of $60 million
over two years to fund the Office and key regulatory departments and agencies
in order to reduce project review times. The measures are expected to reduce
the average review period for these projects from four years to two years.
"CEPA's members are currently engaged in developing over (CDN)
$20-billion of energy infrastructure projects", said MacInnis. "Yesterday's
announcement should reduce the time required for a full review and approvals,
while maintaining high standards for environmental safeguards and the public
The Federal Government also announced it will undertake a review of two
key pieces of legislation, the Mackenzie Valley Resource Management Act and
the Canadian Oil and Gas Operations Act. This process will involve
consultation with key stakeholders, including northerners and industry
representatives. Amending these Acts would further improve the efficiency of
the regulatory process.
For further information:
For further information: Brenda Kenny, Vice President, Regulatory &
Financial, (403) 221-8750