News Analysis
There is currently momentum in Canada to grow the economy through major projects, including around energy, but the jury is still out on whether enough can be done to reform regulations to attract the necessary investments.
While investments in Canada’s oil and gas sector fell alongside oil prices since 2014, investments in the sector didn’t bounce back to the same extent as before even after prices recovered.
The new Liberal government under Prime Minister Mark Carney has shown early signs of flexibility toward the oil and gas sector, by including “conventional energy” in its plan to make Canada an “energy superpower” and by tabling legislation aimed at circumventing—in rare cases—the Impact Assessment Act, a controversial federal legislation which places further regulatory requirements on major projects….