The Canadian Association of Petroleum Producers (CAPP) is asking federal leaders to focus on recovery, renewal and reconciliation as part of the association’s election wish list.
Tim McMillan, CAPP president and chief executive said the “forward-looking, solutions-based” platform document, Vote for a Stronger Canadian Natural Gas And Oil Industry, released earlier this week, outlines the crucial role Canada’s natural gas and oil industry plays.
The platform highlights recommended actions for federal leaders to support and enhance the industry, creating ongoing recovery, wealth and prosperity while addressing emissions.
CAPP recommendations include:
- Working with industry to provide clarity and certainty to the investment community by promoting Canada’s leadership in ESG performance is among the recommendations.
- Exploration incentives in Atlantic Canada coupled with effective, efficient, and predictable regulation that removes barriers for companies wanting to invest in exploration activities while competing for international capital.
- Introduce 100-per-cent immediate deductibility for oil and natural gas capital investments, including clean technology and emissions-reducing investments – or, at a minimum, remove the ‘Available for Use’ rule.
- Re-instate the Atlantic Investment Tax Credit (AITC) at 15 per cent in short term, moving to 10 per cent in the long term.
- Recognize the role that resource development plays in supporting Indigenous self-determination and reconciliation through economic opportunities.
- Establish clear guidelines on consultation goals and objectives, and appropriate boundaries on scope and timelines related to major projects.