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Investment in Canada’s energy sector declining: Stubbs

Lakeland MP Shannon Stubbs says the Liberals have decreased investment in Canada’s energy sector.

She says one of the contributing factors is the failure to secure a private sector buyer for the Trans Mountain pipeline.

“Energy investment in Canada has declined significantly under the liberals. In fact, more than a $100 billion in energy projects have been lost under these Liberals and that’s more investment lost in a two year time period than any other two year time period in more than 70 years.”

The Liberal government was working with Kinder Morgan to find a buyer by July 22. However was unable to do so and is now completing the $4.5 billion deal for the pipeline that is expected to be completed by the end of August.

Stubbs recently penned a letter to the new Minister of Natural Resources Amarjeet Sohi stating that the “natural resources sector is the backbone of the Canadian economy.”

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The letter adds that foreign investment in the country has decreased by 42 per cent in 2016 and further in 2017 by 27 per cent. She says certain legislation put forth by the liberals is the cause of this including the tanker ban.

“It’s really a ban on the oil sands, a ban on pipelines and a barrier to exporting Canadian oil to the Asia Pacific in order to reduce Canada’s reliance on the United States. That’s critical because right now the United States is both Canada’s biggest energy customer, but also Canada’s biggest competitor.”

The Act would ban tankers able to carry more than 12,500 metric tons of oil from stopping or unloading along B.C’s north coast from the northern tip of Vancouver Island to the Alaska border. The legislation is currently sitting in the Senate for a decision.

Stubbs says she hopes these “anti-energy policies,” as well as the carbon tax will be considered by Sohi and the liberal government to make Canada more competitive in the global marketplace.

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