GREY:MGMCF - Post by User
Post by
OilEngon Jan 19, 2014 10:16am
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Post# 22108666
Effect of Devolution
Effect of DevolutionA boring topic, I know. However, Bill C-15 contains some interesting stuff that will affect the Canol. Not only does Bill C-15 give regulatory power to the GNWT and take it away from the NEB and Federal Government, is also dramatically changes regulatory framework. Here are some major changes:
1. Sahtu Land and Water Board and other local boards are eliminated and power is placed in one superboard.
2. Time limits are placed upon reviews. As we all know previous reviews could go on for years - and years - and years. Now the Superboard must make a recommendation with 9 months and the minister must make a decision within 45 days.
I also understand that the GNWT is considering contracting the Alberta Energy Regulatory to do some of the work on oil and gas. Another positive from my point of view. They definitely have the technical expertise which the NWT lacks.
Devolution is scheduled to happen by April 1, 2014. That is only a few months away. There will be changes to Bill C-15 as the committee is meeting on January 27th.