Question Period Note: Competitiveness in Natural Resources

Natural resource sectors are among the economic sectors hit hardest by the pandemic. The Government of Canada has put in place measures to support the economic recovery.

• Our government knows that the natural resources sector plays a key part in our commitment to create good jobs and a globally competitive economy today, and for years to come.
• This means ensuring the competitiveness of our natural resource sectors to support workers, communities and businesses and to support the resilience of Canada’s economy.
• The natural resources sector is a key part of the Government’s plan to “build back better”.
o We are investing in critical battery minerals and metals value chains to create jobs and fuel the clean energy transition for Canada by not only providing the raw materials required for clean and digital technologies (e.g., lithium in EV batteries) but also building up the related industries along the value chain.
o We will improve environmental performance by developing clean and renewable technologies, enhancing innovation and supporting nature-based solutions.
o We are working with partners in industry and education institutions to support skills training that will enhance the diversity and inclusiveness of the natural resources sector workforce.

Supplementary messages:
• In the wake of the pandemic, the Government of Canada supported the natural resources through a range of initiatives:
o $320 million to support offshore oil jobs in Newfoundland and Labrador, including safety improvements, maintenance and upgrades of existing offshore infrastructure, environmental services and clean technology.
o Extension of the Mineral Exploration Tax Credit to help exploration companies raise equity funds;
o Support for the clean technology sector through the NRC-IRAP Innovation Assistance Program and the Regional Relief and Recovery Fund;
o $2.5B to retain and create approximately 10,000 well-paying jobs while enhancing environmental performance in the petroleum sector so it can contribute to developing a highly skilled and diverse workforce and continue to play a key role in Canada’s clean-growth future.
o Job creation in Alberta, Saskatchewan and British Columbia through provincial government funding and repayable funding to the Alberta Orphan Well Association – to clean up orphan and/or inactive oil and gas wells; and,
o New Emissions Reduction Fund to lower greenhouse gas emissions in Canada’s oil and gas sector, with a focus on methane. This Fund includes $75M to help the offshore industry in Newfoundland and Labrador create and maintain jobs through pollution reduction efforts.
o Support for medium sized businesses with larger financing needs to help them maintain operations and keep their employees on the job.
o Vital bridge financing to the country’s larger companies available to all industries in Canada’s resource sectors – provided they “commit to future climate disclosures and environmental sustainability goals.”
o Job creation and training opportunities for Canadian youth in the fields of science, technology, engineering and math (STEM) in the energy, forestry, mining, earth sciences and clean technology sectors.

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