Canadian Association of Petroleum Producers CEO Lisa Baiton said in a panel discussion in Calgary on Wednesday that Canada's oil and gas industry has been subjected to layer upon layer of federal regulation in recent years.
She said federal policies such as the promised emissions cap for the oil and gas sector and the proposed clean electricity regulations have scared away investment and harmed the industry. Baiton said the federal impact assessment law, formerly known as Bill C-69, contributed to what she called a"pancake-ing" of regulation on industry.
But last Friday, the Supreme Court ruled that legislation, which lays out the process for federal assessment of the environmental impacts of major projects, is largely unconstitutional. Baiton said while the oil and gas industry is watching closely to see how the federal government responds to the Supreme Court ruling, she believes the decision marks the start of a"significant shift" in energy sector regulation in Canada.