Mr. Speaker, there is a really big challenge out there when it comes to investment in our resource industry. As we add more regulations, more red tape, there is a challenge.
When industry wants to invest, it is looking at a lot of things. It looks at the tax load, whether it is federal or territorial. That is a huge factor. Adding on a carbon tax, and we have the uncertainty of the reassessment and taking out time limits, is pushing it to the edge where investment is not worth it.
How long will the environmental review take? Will it be one year or five years? We do not know. That is why timelines are important. It instills confidence within the industry, confidence that it will take a certain time to do and that a certain amount of dollars will be invested for an assessment.
After that, if there is approval and the operation is started, there is the challenge of what the reassessment will look like. For example, a $100 million investment has been made in this operation and now a reassessment comes up. What if it does not meet the targets put out before them. That will be a lost investment, because the reassessment said that it was because of climate change or whatever the reason may be. Now there is that huge factor that maybe it will not be operational in five years because of the reassessment. It is really sad.
If there are no changes to the operation, I do not believe it is helpful to do a reassessment again on an operation that is exactly the same. Now, with Bill C-17, the possibility of reassessment after reassessment will have a negative impact for people who want to invest in the resource industry in the north.