The Economic Report Series looks at the domestic and global benefits from resolving market access challenges; outlines current oil and natural gas resources, production, markets and market access; summarizes opportunities for developing new markets for Canadian oil and natural gas; examines the barriers preventing Canada from realizing opportunities; and offers recommendations and solutions that would contribute to removing market access barriers.
According to this report, Total energy demand is expected to increase by 27%from 2017 to 2040.
CAPP is putting forward these recommendations:
Engage in discussions to create Internationally Transferred Mitigation Outcomes as an option for achieving its Nationally Determined Contributions that enables the shift from coal to natural gas use for electricity generation in China, India and Southeast Asia as a meaningful opportunity if Canadian LNG is used for natural gas-fired generation in these countries
Revise Bill C-69, the Impact Assessment Act and updated Canadian Energy Regulator Act and Navigable Waters Act to tackle concerns with regards to:
Issuing approvals and the path to construction
Project planning certainty
Decision-making / public interest
Involvement of life cycle regulators in review panels
Withdraw Bill C-48 (Oil Tanker Moratorium Act)
Streamline the approval process for NOVA Gas Transmission Ltd. pipeline expansion
Continued rigorous effort to expand market access to Canadian Oil by supporting and endorsing Oil and Gas pipeline projects
Implement immediate 100 per cent deductibility of tangible capital investment on par with recent reforms in the U.S., and introduce emissions-intensive trade-exposed protection of approximately 80 per cent coverage of aggregate costs related to climate policy in order to address Canada’s competitiveness gap with the U.S.
Enable a competitive natural gas industry through visibly supporting and taking action to advance development of an LNG industry on Canada’s West Coast, with development of multiple LNG plants over time to provide access to global markets.
Download the CAPP report here.
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