June 29, 2017
NDP regulatory and tax regimes crushing industry: Barnes
Following a series of meetings with energy companies in Calgary, Wildrose Shadow Energy Minister Drew Barnes said new regulatory and tax regimes brought in by the NDP are crushing energy companies and making Alberta an undesirable place to invest.
Barnes wrapped up meetings Wednesday with individual companies and industry groups such as the Canadian Association of Oilwell Drilling Contractors, the Canadian Association of Petroleum Producers, the Resource Diversification Council and the Canadian Propane Association who outlined the numerous barriers they face in developing new projects including a carbon tax, an emissions cap and business and property tax hikes.
“Our friends in the energy industry are in need of help,” Barnes said. “Immediate action is desperately needed to reduce the regulatory and tax burdens on industry. The cumulative burden of these ideological NDP policies is massive. It’s death by a thousand cuts.”
Barnes said over the two days of meetings he was told by multiple representatives across the industry that new project developments are being approved in a matter of weeks in jurisdictions like Saskatchewan whereas approvals can take up to 18 months in Alberta.
“We’re quickly losing our edge – our advantage,” Barnes said. “We’ve already seen many major international companies sell-off their assets and get out of Alberta. If the NDP doesn’t do something now, this trend is going to get worse, and once this investment leaves, it may never come back.”