Quote:
Originally Posted by ThePrince
The Federal government, with its increasingly strict and unpredictable regulatory environment, has made it much more difficult for projects like LNG to secure the adequate attention and funding necessary to get off the ground.
These projects are massive and require lots of planning and early stage funding, and given the uncertainty with the federal government intervening and changing regulations on the fly, there are very few companies willing to put forth that time, effort, and money when it could get kiboshed at any moment.
Trans Mountain is a great example of this at work. You had a private entity (Kinder Morgan) that had invested considerable time, effort, and money into the project, and the Feds pulled the rug under them in the middle of the project with all of the regulatory delays. Not to mention the legal delays from the Government of BC that were obviously illegal (eminent domain supersedes when crossing provincial boundaries), but the Feds never intervened to speed up the process or provide any assurances that the project would get done, causing Kinder Morgan to pull out. And to avoid extreme embarrassment and backlash, the Feds had to purchase the pipeline, and now it's going to end up costing taxpayers money because costs have ballooned so much.
|
Maybe I'm remembering this much differently than you, but I thought the issue was the Harper government failed to consult properly. So the delays were due to the Trudeau government doing proper consultation as required by the courts, and it would have led to more court challenges if they had intervened to "speed up the process" which is why it was delayed in the first place.
Anyone care to chime in on this?