b'3.2 Regulatory logjam has cost C$100billion in canceled resource projectsA freshly-released think-tank report shows billions of dollars in planned spending on resource proj-ects in Canada has rapidly evaporated, and a further drop should be expected unless there are sub-stantial amendments to the federal governments planned regulatory overhaul in controversial legisla-tion presently being considered by parliament.Leo Ryan, AJOT The C.D. Howe Institute indicated that the investment value of major energy, mining and forestry This article was originally published on March 11, 2019projects plunged C$100 billion between 2017 and 2018equivalent to erasing 4.5% from Canadas in issue #684 GDP. The report is aptly titled: A Crisis of Our Own Making.Among the projects that have been canceled are TransCanada Corp.s Energy East Pipeline CNOOC Ltd.s Aurora LNG and Petronas Bhds C$36 billion Pacific Northwest LNG project. For the first time, Canada has dropped out of the ten top energy destinations in the world.The declines in planned investment in the Canadian resource sector have continued even as in-vestments in competing jurisdictions have rebounded following a long decline in commodity prices.[image 3.2] - belowCanadian pipeline projectU.S. and global investment in oil and gas has rebounded while in Canada it has continued to underway plunge, said the report, adding: Global planned investment in mining has dropped but it has dropped even further in Canada.Extensive regulatory delays are cited as a significant issue. The study showed that it can take up to 15 years to get a mine approved in Canada, compared with six years in Australia. And it can take up to 11 years for pipeline approvals in Canada versus two years in Australia and five years in the United States.Even more important, the study stresses, is the fact that the proposed legislation does not fix the biggest obstacle facing major resource projects: the federal governments approach to consultations with impacted Aboriginal peoples.42 THE UNCONTAINED www.theuncontained.com'