The Trudeau government has increased uncertainty in the project approval process.
The legislation includes subjective criteria including the “social impact” of energy investment and its “gender implications."
Biden’s climate plan aims to wean the U.S. off of fossil fuels.
Investment in Canada’s oil and gas sector has declined by 35 per cent.
Last year, more than 20 per cent of the country’s exports came from energy.
The Trudeau government’s national carbon tax will increase costs in the petroleum manufacturing sector by 25 per cent.
Global oil demand is expected to be around 90.8 million barrels a day in 2020.
Canada’s energy sector employed (directly and indirectly) more than 830,000 workers.