Minister Oliver Discusses the Need for Timely and Responsible Regulation of Canada's Natural Resource Projects

CALGARY, ALBERTA--(Marketwire -02/16/12)- The Honourable Joe Oliver, Minister of Natural Resources, spoke to members of the Energy Policy Institute of Canada (EPIC) today to discuss the need for timely and responsible regulation of Canada's natural resource projects.

Minister Oliver, who had just returned from Prime Minister Stephen Harper's week-long mission to China, emphasized the importance of building partnerships and promoting investment in order to maximize the benefits of Canada's natural resource sectors. Modernization of Canada's regulatory processes is key to tapping into this vast potential.

"Providing a regulatory regime that is both efficient and effective is a basic part of offering a stable, predictable climate for investment," said Minister Oliver. "Inefficient regulation leads to unnecessary and unpredictable delays - delays that compromise the economic viability of projects that are vital to economic growth in Canada."

Minister Oliver told EPIC's members that achieving the Government's goal of one project, one review in a clearly defined time period will not come at the expense of the environment.

"Let me assure you that we can meet our objectives of jobs, growth and prosperity and address any concerns from legitimate groups," said Minister Oliver. "We can and must pursue responsible and timely development of our natural resources to the maximum benefit of all Canadians."

Minister Oliver concluded his remarks by encouraging EPIC members to share their views on this and other important energy issues as they finalize their Strategy for Canada's Global Energy Leadership.

"Working together, we can design an energy framework and ensure a common sense approach to intelligent regulation that will unleash Canada's tremendous resource potential," said Minister Oliver.

NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.