The OPI was one of 30 organizations that provided comments to the Government of Ontario at a 2018 Pre-Budget Consultation held on January 25, 2018. The meeting was hosted by Yvan Baker, MPP Etobicoke Centre and the Parliamentary Assistant to Minister of Finance, Hon. Charles Sousa. In its brief the OPI talked about the Ontario’s oil and natural gas industry’s contribution to the provincial economy with jobs, royalties and investments. To help address the challenges the sector has faced in recent years with declining production the OPI urged the Government to consider tax measures geared to oil and natural gas exploration similar to measures currently in place for the province’s mining sector, and to open the Assessment Act to a review on how oil and natural gas assets are assessed to correct what the industry regards as inequities in the application of assessments on machinery, equipment, pipelines and land. The meeting was held at the Marconi Club on Clark Road in London, Ontario.
Archives for January 2018
OPI participants in Ontario Energy Board Hearings
The OPI is participating in two current hearings being held by the Ontario Energy Board (OEB). EB Hearing 2017-0306 is on an application from Enbridge Gas Distribution Inc. and Union Gas Limited for approval to amalgamate to form a single gas distribution, transportation and storage company. EB Hearing 2017-0224/0255/0275 are applications from Enbridge Gas Distribution Inc., Union Gas Limited and EPCOR Natural Gas Limited Partnership for approval to recover the costs associated with their 2018 cap and trade compliance plans. As an intervenor in the hearings the OPI is able to keep abreast of any developments arising from the OEB decisions that may impact the industry.
The Ontario Advantage
Ontario companies have been exploring and producing oil since 1858 and natural gas since the 1880’s. The advantages of exploring in Ontario include an estimated 50% of the province’s oil and natural gas remains to be developed, high net-backs, an experience workforce, and developed infrastructure.