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Regulatory reform key to Canada’s energy future

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This article supplied by Troy Media.

Troy Media By Lisa Baiton

Canada has the resources to lead globally in energy, but outdated rules and investment barriers are holding us back

Canada stands at a pivotal moment. A new federal government offers an opportunity to rejuvenate the economy and rethink our approach to natural
resource development.

Prime Minister Mark Carney’s plan to build Canada into the best-performing economy in the Group of Seven (G7) is achievable, as is his ambition to build from this country’s energy resource-rich foundation. This aligns with the oil and natural gas industry’s calls to play to our strengths in responsible energy development and exports. To succeed, we need a clear, practical strategy that reflects the realities of investment capital in today’s
unpredictable global economy.

Canada has all the ingredients to become the next global energy superpower. What’s missing is the right recipe. Over the past decade, a layering of policies has reduced investor confidence and made Canadian projects less attractive than those in other countries. Billions in capital have shifted to places like the United States, Brazil and Norway, where regulatory processes are clearer, faster and more investor-friendly.

It’s time to rebuild investor confidence and demonstrate that Canada is open for business. That begins with overhauling the regulatory and fiscal frameworks that govern major energy projects. Current regulations are too often unpredictable, excessively long and vulnerable to legal challenges. For example, some Canadian energy projects can take seven to 10 years to gain approval, compared to three to five years in competing jurisdictions. Approval timelines must be firm, reliable and competitive. Projects of national significance need clear, coordinated assessments that uphold environmental integrity while respecting the jurisdictional roles of provincial governments and Indigenous communities. And we must take the politics out of the regulatory process.

It also means rethinking carbon policy. The current system—layered with federal and provincial rules and complex compliance requirements— is inefficient and uncertain. It needs to be reviewed and reformed, together with provinces and industry, to ensure it is competitive with policies in other top oil- and natural gas-producing nations. A model tailored to regional realities and industrial needs, and one that respects provincial jurisdiction, could restore both flexibility and investor confidence. A national policy should drive investment into emissions reduction, not through
production caps, but by simplifying regulation, creating an attractive fiscal environment and protecting export industries while enabling innovation and growth

Let’s be clear: this is not a call to abandon climate goals or environmental commitments. Canadians care deeply about the environment. But they also care about job security, affordable living and Canada’s place in a rapidly evolving global economy. These values are not in conflict. In fact, the Canadian way—our high standards, our innovation, our sense of fairness—can show the world a model of responsible oil and natural gas development.

We must also ensure Indigenous communities are true partners in growth. Expanding Indigenous loan guarantees at scale will help create infrastructure ownership opportunities that generate long-term prosperity. These guarantees enable First Nations to access affordable financing to invest in projects like pipelines and power generation. But such programs will only succeed if Canada is seen as a competitive place to invest. That foundation must come first.

The mood across Canada has shifted. There is broad public support for oil and natural gas development, not just because of the jobs and revenue, but because Canadians understand the role energy plays in our national and economic sovereignty. Recent polling shows most Canadians believe energy development and climate action can go hand in hand, especially when projects support economic growth.

Amid growing instability in the United States—Canada’s biggest competitor for capital—we have a chance to stand out as a stable and trusted economic partner. But this window of opportunity won’t stay open for long.

We must act decisively. That includes eliminating unnecessary barriers such as production caps and embracing investment in technologies that reduce emissions while growing output.

Canadians are ready. Industry is ready. The time has come to build.

Lisa Baiton is President and CEO of the Canadian Association of Petroleum Producers.

Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country

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The Liberal war on our cost of living lives on

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By Dan McTeague

Well, the election is over, and it turns out that I was right to be sceptical of the polls. Polling which showed collapsing support for the Conservative Party, which I said over and over didn’t track with what I was seeing on the ground, was clearly wrong. In fact, the Conservative Party increased their share of the vote by more than 7 points, breaking 40% for the first time since 1988, while picking up 23 seats in parliament.

That kept the Liberals to a minority government — something the pollsters were definitely not predicting — and they only did as well as they did because the Bloc Québécois lost ground and the NDP were absolutely decimated.

For this we have Donald Trump to thank, and his unprecedented intervention in our election. Not to mention Canadian boomers, who as a group ranked Trump as the most important issue in this election, and “Making Canada a better place to live” as their least important issue, just behind “Growing the Economy” and making life more affordable.

They’ve made their money, after all. They’ve built up tremendous equity in their homes. And it just made them feel good to vote in a way that they thought would make Donald Trump mad. (Not that it did.)

We are now seeing a rising generation of younger adults who will be the first to lose ground as compared to their parents since the Great Depression. And why is that? Because the Baby Boomers decided to vote to reward those politicians whose policies have been, and will continue to be, a direct assault on the Canadian cost of living.

Carney’s government will double down on the worst policies of the Trudeau era. He is, after all, the Apostle of Net-Zero.

That means doubling down on carbon taxation, especially in the form of the Industrial Carbon Tax, which will hurt existing businesses and discourage others from getting off the ground. And if he sees an opportunity to go back to charging the Consumer Carbon Tax — remember that it remains on the books — he will do that as well.

It also means continued electric vehicle mandates. Many Canadians remain ignorant of the fact that the Trudeau Liberals banned the sale of new internal combustion engine (ICE) vehicles, beginning in 2035, just ten years from now. It took some prodding, but the Conservatives vowed to scrap that mandate.

Now it will remain in effect, and that means higher priced gas-and-diesel driven cars in the near term, as Canadians start to process the fact that they won’t be able to buy them soon. It will mean eventually being forced to buy even more expensive EVs and, if nothing changes, without government support, as the federal EV subsidy program ran out of money months ago.

Meanwhile, prepare for every story about an auto company bailing on commitments to build electric vehicles in Canada to feel like a crisis. Those agreements were negotiated at a time when decision makers assumed that Donald Trump would lose his second bid for the White House, and Americans would have EVs forced on them as well.

In that climate, it seemed like a great idea to accept the mountains of taxpayer dollars being offered to automakers by Justin Trudeau and Doug Ford. But without the American market, doing so makes much less business sense. Even with Doug Ford bellowing that he’s going to “hold them accountable” and force them to “continue manufacturing automobiles here in Ontario!”

And it further means that the Trudeau government’s war on pipelines will now become the Carney government’s war on pipelines.

Remember, while campaigning just a few weeks ago, how Carney went to Edmonton and proclaimed his intention to:

Make Canada “the world’s leading energy superpower,”

Invest in our “natural strengths and ensure our economic sovereignty,” and

fast-track “projects of national interest,”

while acknowledging that,

“any major energy project that comes from this great province is going to pass the boundaries of other provinces?”

His clear implication was that he intended to change course from his predecessor, to facilitate the building of pipelines, perhaps to revive Energy East, and to do so even over the objections of Quebec.

Suffice it to say, we didn’t believe a word of it. And now we see we were right not to do so, as we’ve just seen two of Carney’s ministers — Steven Guilbeault and Dominic LeBlanc — throw cold water on the idea that the Carney government would support new pipeline projects.

That’s because the activists who continue to run our country would prefer the pat on the head they get from the Davos brigade than to support the backbone of our economy, the natural resource sector, upon which Canadian jobs, energy affordability, and our overall cost of living rests.

All this means, of course, is that our work is not done. Our fight to protect the Canada we all know and love, where regular people can do honest work, buy a house, raise a family and live comfortably, goes on.

As disappointing as the outcome of this election was, it is just a setback. More and more people are hearing our message. We’re already seeing signs of buyer’s remorse among Carney voters. And, to put it bluntly, if something can’t continue on one way forever, it won’t. Which is to say, we’re going to have to change course sometime. The sooner, the better.

So, to borrow a phrase, Elbows Up.

Dan McTeague is President of Canadians for Affordable Energy.

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Legal group releases report warning Canadians about central bank digital currencies

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From LifeSiteNews

By Justice Centre for Constitutional Freedoms

“central bank digital currency could hand incredible power to the Government and Bank of Canada to monitor financial transactions, punish whatever behaviours the government deems undesirable, and penalize those on the wrong side of government ambitions”

The Justice Centre for Constitutional Freedoms released a new report examining how the adoption of a central bank digital currency in Canada could undermine the rights and freedoms of Canadians, including their privacy, autonomy, security, equality, and access to economic participation.

Read our report, “Central Bank Digital Currency? What it is and how it could impact your privacy, security, and autonomy,” here.

Financial transactions are increasingly conducted digitally. In 2023, a mere 11 percent of transactions were conducted with cash, according to Payments Canada.

This trend is not limited to individual consumers. Government entities, including government departments, agencies, and Crown Corporations, have rapidly digitized access to, and delivery of, their goods and services over the past decade.

READ: Mark Carney has history of supporting CBDCs, endorsed Freedom Convoy crackdown

Against this backdrop, in 2017, the Bank of Canada (a Crown Corporation) began exploring the possibility of implementing its own government-issued and government-controlled cashless currency – a central bank digital currency (CBDC).

In a 2023 Bank of Canada survey on CBDCs, however, 82 percent of 89,423 respondents strongly disagreed that the Bank of Canada should be researching or building the capability to issue a CBDC. Despite these results, the Bank of Canada continues to research a CBDC for Canada.

The Justice Centre’s report critically evaluates the impact a CBDC could have on Canadians’ fundamental rights and freedoms. Absent robust legislative protections and oversight, a CBDC could allow the Government and Bank of Canada to monitor Canadians’ purchases, donations, investments and other financial transactions.

A CBDC has the potential to empower government to reward and punish the behaviours and lifestyle choices of individual Canadians, as Communist China does with its “social credit” system. Allowing the government to peer into and influence Canadians’ purchasing behaviours could have a profoundly damaging impact on their privacy and autonomy, cautions the report.

Canada is not the first jurisdiction to explore a CBDC. This report evaluates the Bank of Canada’s exploration within a global context, applying lessons learned from jurisdictions like Nigeria, the Caribbean, and others.

After analyzing negative outcomes of “going cashless” in jurisdictions such as Australia, Sweden, Finland, and Norway, this report advocates for the value of cash and the need for robust institutional and legislative protections for the use of cash.

Ben Klassen, Education Programs Coordinator at the Justice Centre and lead author of the report, stated, “Many Canadian politicians and policy designers would have us participate in a frantic (and global) race to digitize goods and services, including our dollar. The finish line, we are told, promises heightened profitability, convenience, and security. While the pursuit of innovation and efficiency can deliver worthwhile rewards, we must always remember the values of privacy, autonomy, security, equality, and access to economic participation. Adopting a central bank digital currency risks excluding the homeless, the elderly, the ‘internetless,’ the technologically illiterate, and the conscientious objector.”

“Most seriously, a central bank digital currency could hand incredible power to the Government and Bank of Canada to monitor financial transactions, punish whatever behaviours the government deems undesirable, and penalize those on the wrong side of government ambitions,” continued Mr. Klassen. “This issue should be framed as a contrast between a ‘digital dollar’ and a ‘human dollar’ – our currency cannot be designed without regard for the humans and human values that will be profoundly impacted by its design.”

READ: RFK Jr. warns Americans ‘will be slaves’ if central bank digital currency is established

This report was produced in collaboration with Sharon Polsky – President of AMINAcorp.ca, President of the Privacy & Access Council of Canada, and a Privacy by Design Ambassador with more than 30 years’ experience in advising governments and policy designers on privacy and access matters.

Read the full report here.

Reprinted with permission from the Justice Centre for Constitutional Freedoms

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