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Originally Posted by GGG
Are people arguing Capital hasn’t left or are people arguing that NDP policy hasn’t caused this exodus of Capital?
https://www.google.ca/amp/s/business...t-the-ways/amp
Here is a good article from Tertzakian on some of the causes in addition to the pipeline issue causing capital flight. |
Well, I agree with what this person's response to that article was. I am a big fan of Tertzakian though.
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I'm afraid you are behind the times. the World Bank and IFC have had Environmental and Social Standards and Procedures for decades and anyone wanting to be associated with their funding must follow them. From time to time others write their own but all must, in essence, follow and agree with the WB standards if they want financing.
What disappoints me is that you do not mention the real reasons why the US and others are staying away from Canada - they range from high construction and operating costs (carbon tax is only one of many high taxes compared to other countries), a bureaucratic approval process that even the government cannot follow or agree on, a lack of Leadership from the Federal government that would allow projects to be approved, constructed and operated in all regions, a need to negotiate with hundreds of individual bands and individuals who cannot agree with each other, never knowing when the law will be changed mid-stream or when additional requirements will be added and one of the most arduous for me - that perception is more important than accomplishment.
Results and impacts are not important - only that it looks good and the regulating authorities can easily defend it. We have been labeled as "anti-development" and it is true - due to both an abnormally difficult and lengthy approval process as well as due to support from our Federal government.
We used to be among the best for environmental regulations in the world. Now we are a joke. All in three years. Every government official whose job it is to approve a project is scared to make a decision. Asking for more and more and more information instead. No one. And I repeat, No One is looking after the best interests of Canada and doing what is needed for the benefit of all.
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