Trudeau ig­nor­ing des­per­ate cri­sis in en­ergy sec­tor

The Southwest Booster - - OPINION - SHAN­NON STUBBS CON­SER­VA­TIVE SHADOW MIN­IS­TER FOR NAT­U­RAL RE­SOURCES

Justin Trudeau is de­ceiv­ing Cana­di­ans when he says he sup­ports Canada’s en­ergy sec­tor. He per­son­ally gave the or­der to can­cel the North­ern Gate­way pipe­line and killed the En­ergy East pipe­line with red tape and reg­u­la­tions. Justin Trudeau made the choice to can­cel two ma­jor ex­port pipe­lines– and that choice is a di­rect cause of the price dis­count on Cana­dian oil.

Last sum­mer the Prime Min­is­ter promised con­struc­tion would be­gin on the Trans Moun­tain Ex­pan­sion when the govern­ment pur­chased the project. That has turned out to be false. When asked if the con­struc­tion of the Trans Moun­tain Ex­pan­sion would be­gin next spring, all the Prime Min­is­ter could of­fer was a weak, “I hope so.” This re­sponse is un­ac­cept­able af­ter spend­ing $4.5 bil­lion tax dol­lars to buy the Trans Moun­tain Pipe­line.

When asked about in­vest­ments in Canada be­ing can­celled as a re­sult of his ‘no more pipe­lines’ Bill C-69, the Prime Min­is­ter said, quote, “I’m not re­ally go­ing to en­gage with hy­po­thet­i­cals right now.” The re­al­ity is that Bill C-69 will halt in­vest­ment in Canada’s en­ergy sec­tor. In­dus­try as­so­ci­a­tions, in­dige­nous or­ga­ni­za­tions and large em­ploy­ers have made it clear, if C-69 goes for­ward, large projects will not pro­ceed. This will cost Canada hun­dreds of thou­sands of jobs and bil­lions of dol­lars a year.

The Prime Min­is­ter also stated, that “if any­one comes for­ward with con­struc­tive sug­ges­tions on how we can im­prove C-69…we are lis­ten­ing.” Cana­dian oil and gas ex­perts and job cre­ators have been clear: Bill C-69 needs to be can­celled or com­pletely re-writ­ten. Just this week To­tal En­ergy Ser­vices an­nounced they were leav­ing Canada af­ter 22 years of do­ing busi­ness here – their CEO specif­i­cally men­tioned Bill C-69 was the fi­nal straw. The fact is that the Prime Min­is­ter’s anti-en­ergy poli­cies are killing Cana­dian jobs.

The Prime Min­is­ter also de­ceived those in the en­ergy sec­tor when he said the ac­cel­er­ated cap­i­tal costs an­nounced in the bud­get will help the oil and gas sec­tor. The Lib­eral mini-bud­get al­lows the man­u­fac­tur­ing sec­tor to write off 100 per cent of new cap­i­tal costs. How­ever, pipe­lines and oil and gas equip­ment do not qual­ify for this ben­e­fit. For the en­ergy sec­tor, in most cases the Lib­er­als are only al­low­ing 15 per cent of cap­i­tal costs to be writ­ten off, and in some cases, as low as six per cent.

Justin Trudeau has presided over the great­est loss of in­vest­ment in Cana­dian en­ergy since the 1940s. So far over $100 bil­lion has been can­celled in en­ergy projects on Justin Trudeau’s watch. The Bank of Canada has pre­dicted zero new in­vest­ment in Cana­dian oil and gas af­ter 2019. This is a di­rect con­se­quence of his antienergy poli­cies.

The only so­lu­tion to the price dis­count on Cana­dian oil, and the flight of cap­i­tal from the en­ergy sec­tor is to de­feat Justin Trudeau’s Lib­er­als in 2019. Only a Con­ser­va­tive govern­ment will fix Justin Trudeau’s sab­o­tage of Canada’s oil and gas sec­tor and bring in­vest­ment back to Canada.

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