Negative reaction to this week's Alberta oil sector funding announcement by Ottawa continues to mushroom across the province.

Alberta energy sector and government officials have been scratching their heads over a $1.6 billion rescue package and almost in unison say it completely misses the target.

Among those voicing frustration is Banff - Airdrie MP Blake Richards who says Albertans don’t want a government handout; they want a pipeline.

“It’s typical Justin Trudeau,” says Richards. “Throw taxpayers’ money at something, but don’t fix the problem. It seems like that’s his answer to everything and this is a really pathetic example of that.”

“What Albertans want is not a government handout, they want jobs. And how are they going to get jobs? They’re going to get jobs by building a pipeline and this does nothing to build a pipeline. It’s throwing taxpayers’ money at something that we don’t need to throw taxpayers’ money at. What you need to do is stop killing pipelines.”

This week, the Liberal government announced $1.6 billion in funding to help struggling energy companies stay afloat, buy new equipment and diversify to get through the stormy waters of rock-bottom prices

These measures include:

  • $1 billion in commercial financial support from Export Development Canada to be made available to exporters of all sizes to assist companies looking to invest in innovative technologies, address working capital needs or explore new markets.

  • A new $500-million Energy Diversification commercial financing envelope over three years from the Business Development Bank of Canada to help higher risk but viable oil and gas small business enterprises weather the current market uncertainty.

  • A $50-million investment through Natural Resources Canada’s Clean Growth Program in oil and gas projects — projected to generate $890 million in investment.

  • $100 million through Innovation, Science and Economic Development Canada’s Strategic Innovation Fund in energy and economic diversification-related projects.

Despite setting aside this pool of funding, Richards is convinced the government simply doesn’t want to see the energy sector thrive.  He points to the cancellation of the Northern Gateway and how the Trans Mountain Pipeline has been placed on taxpayer-funded life support as prime examples.

“I don’t think he wants to build that pipeline. If he did he would be building it right now.”

“Stop putting up things like Bill C-69 and changing regulatory processes and let the pipeline get built and then we’d solve our problem,`says Richards.

 

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