As capital investment in B.C.’s natural resource sector grows, the role of environmental assessments has become critical to a project’s viability. A negative assessment can mean the death of a development worth billions. But with the feds now promoting a self-regulating, self-reporting model of assessment, many worry that the environment—and the public interest—is being compromised for the sake of the almighty dollar…
…Nearly half of all major resource projects across Canada currently being reviewed by CEAA are situated in B.C. While some of those oil-and-gas projects may be deferred until oil prices (and capital investment in the industry) bounce back, an unprecedented scale of development is already underway. The Chartered Professional Accountants of B.C. reported that capital investment in natural resource industry projects in northeast B.C. alone was $29.2 billion as of the end of 2013. Meanwhile, various proposed LNG projects are expected to create 100,000 new jobs through 2023, according to a recent WorkBC report.
Anne Casselman -BC Business – July 14, 2015.