Mr. Speaker, I will give the House a bit of personal history.
Back when I was a young biologist, I spent time in the Mackenzie Valley doing some of the initial environmental impact assessment work. I stayed in the community of Norman Wells, which has been producing oil since the Second World War with zero environmental impact. I also lived in the community of Fort Simpson for a while, so for a southerner, I know the area somewhat, and I can guarantee that any project proposed there is done under the most strict environmental standards. In fact, the standards that were in place back in 1973 were world-class even then.
I would like to quote a couple of newspaper articles for the House.
On June 5, 2018, the Edmonton Journal writes, “Investor flight from energy sector is a national embarrassment”.
The CEO of the Royal Bank of Canada said, “Our competitiveness is challenged. Our capacity to grow and advance the economy is stalling.”
The C.D. Howe Institute writes, “C.D. Howe blames Canada’s sclerotic regulatory regime for the killed and stalled projects and the flight of investment capital.”
Can my friend and colleague comment on the downward spiral of the Canadian economy as a result of the sclerotic regulatory regime that the government has implemented?