🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

Tighter rules for Canada energy projects could be seen in 2017

Published 2016-06-20, 04:59 p/m
© Reuters.  Tighter rules for Canada energy projects could be seen in 2017
TRP
-
KMI
-

OTTAWA, June 20 (Reuters) - Tighter environmental rules for
Canadian natural resource projects could start coming into force
in 2017, ahead of schedule, an official said on Monday, giving
industry an idea of when to expect the new measures.
The Liberals of Prime Minister Justin Trudeau took power
last November promising to toughen up a range of regulations
they said the previous Conservative government had weakened in a
bid to cut the time needed to approve pipelines and mines.
Government officials said in January they hoped to have a
review of the required changes at the start of 2018.
"Some changes may be able to be made sooner ... we'll be
moving forward as quickly as possible," Environment Minister
Catherine McKenna told a briefing to outline how the government
would examine what reforms were needed.
A specialist panel will consult Canadians on how to tighten
environmental assessment rules to ensure projects are more
sustainable. It will report back by the end of January 2017.
That is also the deadline for a separate panel to report on
how to change the structure, role and mandate of the National
Energy Board regulator, which rules on whether projects can go
ahead. Critics say the body is not tough enough on the industry
and does not adequately consult indigenous communities.
In January, the government announced new interim rules that
will impose delays on two projects - TransCanada Corp 's TRP.TO
Energy East pipeline and Kinder Morgan (NYSE:KMI) Inc's KMI.N expansion
of its Trans Mountain Pipeline.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.