‘We’re doing it to ourselves.’ Petroleum producers voice displeasure over Bill C-69
Posted June 13, 2019 11:57 am.
Last Updated June 13, 2019 2:12 pm.
CALGARY (660 NEWS) – The fallout from Bill C-69 is already being felt across the energy sector, and it’s not going to get any better.
That’s the message from the Canadian Association of Petroleum Producers (CAPP) who spoke at a forum in Calgary Thursday morning during the Global Petroleum Show.
President of CAPP Tim McMillan said the bill would make it more challenging to do business in Canada while chair Jeff Tonken said it will kill all future pipeline projects.
“We’re doing it to ourselves, that’s what the worst part of it is,” said Tonken. “We’re allowing legislation to be passed that is going to stop this country from being prosperous. That just sums the whole thing up.”
Canada’s oil and gas industry are gathered this morning to react to recent announcements on #BillC69 pic.twitter.com/nT5xdmoJud
— CAPP Oil Gas Canada (@OilGasCanada) June 13, 2019
CAPP says there’s already evidence bill C-69 is chasing foreign investment away from Canada as oil and gas stocks are at a 52-week low.
Tonken said less revenue for companies means less for people who depend on the sector to make a living.
“It’s their ticket to being prosperous. There’s nothing wrong with prosperity, the last time I checked that’s what we’re trying to do in our country is have a prosperous country that allows us to take care of people.”
READ MORE: Trudeau government to reject amendments to Bill C-69: report
Tonken said the ripple effects will go beyond the oil patch adding the legislation will hurt mining, manufacturing and everything else that surrounds the development of energy.
About two dozen industry executives shared their outlook on the bill at the forum.
