Strategic Context
British Columbia is in the fortunate position of having abundant opportunities for energy, mineral and petroleum resource development at a time when the markets for these commodities remain robust. High prices on international markets for coal, minerals, electricity, oil and natural gas are resulting in increased jobs, business opportunities and government revenue from the production of these commodities from B.C. operations.
Oil and gas activity levels remain robust in B.C., with many companies pursuing B.C.'s relatively unexplored potential. Companies are still able to acquire substantial contiguous blocks of rights in B.C., which is particularly valuable for those pursuing development of oil and gas resources.
The current resurgence in the B.C. mining sector reflects both the fact that the Province is one of the richest mineral regions in the world as well as recent improvements in government policies, regulations and support for the mining industry. The significant international upturn in the mining of all commodities, coupled with the growing economies of Asia, provides B.C. with an opportunity to benefit from exploration investments and new and expanded mine developments.
B.C.'s energy consumption continues to increase. The need to reduce demand growth and manage the link between energy use, greenhouse gas emissions and air quality, will drive efforts toward greater energy efficiency and the development of cleaner sources of energy. Implementing policies such as "Energy Efficient Buildings: A Plan for B.C." as well as the renewal of the B.C. Energy Plan will help the Province achieve these goals. The responsible development of the Province's clean and renewable electricity resources is a key aspect of B.C.'s energy future. B.C. is currently a net importer of electricity. Investments in generation within the Province will reduce exposure to price swings and security of supply issues associated with imports from neighboring jurisdictions.
Technology plays an important role in reducing energy use without sacrificing economic growth. Considerable opportunities exist to develop and commercialize new energy technologies and renewable energy sources such as clean coal, wind, geothermal, ocean energy, biomass and biofuels.
The Ministry assesses its risks and opportunities annually as part of the strategic planning process. Once these risks/opportunities have been identified they are addressed through strategies that result in successful implementation of the Ministry's goals and objectives for that given period. The following list summarizes these risks and opportunities.
External Factors
- Financial — Changes in financial markets can impact spending and investment decisions in some sectors. In addition, while commodity prices impact investment levels, prices remain beyond the control of the Ministry. The Ministry continues to focus on identifying the opportunities created by the high commodity price environment to ensure responsible and sustainable development in the face of volatile financial markets.
- Global Supply/Demand — B.C. is Canada's gateway to the Asia-Pacific and with ports closer to China than those in the mainland US, B.C. can become a North American centre for Asia-Pacific trade. This advantage, coupled with an open trading economy, a strong multicultural society and our reputation as a renowned tourism and business destination means that B.C. is well positioned to build on its Asia-Pacific connections. The emergence of China and India as major commodity consumers has increased demand and prices in a wide range of resource commodity markets, such as coal used in making steel and a wide range of metals.
- Competition — Investment dollars move readily around the globe to the jurisdictions that provide the highest net return for given levels of risk. The Ministry monitors changes in B.C.'s competitiveness as compared to other jurisdictions and implements strategies to maintain our competitive position and investment attractiveness.
- Skilled Workers — Due to growing demand throughout Canada for both skilled and unskilled labour, the Ministry continues to engage in new strategies to inform, attract, train and retain workers.
- First Nations and Community Consultation — Many First Nations and communities are actively looking at the opportunities open to them to engage in proactive energy planning — ranging from energy conservation programs to the economic development opportunities associated with resource development, and the opportunity to contribute to the development of sound public policy. Ministry efforts to operationalize the New Relationship with First Nations and implement a community engagement strategy to enhance public dialogue, provide greater community benefits and increase investment certainty for industry are ongoing.
Internal Factors
- Collaborative Relationship with Stakeholders — The Ministry will continue to strive to build exemplary relationships with its key client groups and stakeholders in order to advance new programs and strategies.
- Technology — The Ministry is pushing forward a number of technological initiatives to enhance service and attractiveness to industry, such as an online permitting system for mineral exploration, B.C.'s state of the art mineral resource and geoscience databases, and interactive mapping websites.
- Regulatory Streamlining — The Ministry has reduced regulation to facilitate development while ensuring the integrity of environmental, health and safety standards. The Ministry continues to review the effectiveness of existing legislation and policies, and supports the government-wide Regulatory Reform initiative by meeting the goal of no net increase in regulation over the next three years.
Strategic Government Direction
With regard to the Five Great Goals for a Golden Decade, the Ministry continues to make a significant contribution to the first three Great Goals through a strong policy and regulatory framework which facilitates the provision of substantial government revenue.
Great Goal One: Make British Columbia the best educated, most literate jurisdiction on the continent.
Great Goal Two: Lead the way in North America in healthy living and physical fitness.
Great Goal Three: Build the best system of support in Canada for persons with disabilities, those with special needs, children at risk and seniors.
The Ministry makes direct contributions to these first three Great Goals through such initiatives as government-industry partnerships in oil and gas education and training, and promoting best practices in workplace health and safety in the petroleum, energy and mining industries.
The Ministry's major direct contributions are with regard to delivering programs in support of the last two Great Goals.
Great Goal Four: Lead the world in sustainable environmental management, with the best air and water quality, and the best fisheries management, bar none.
Great Goal Five: Create more jobs per capita than anywhere else in Canada.
With regard to Great Goal Four, energy, mineral and petroleum resource development must be achieved while British Columbians continue to enjoy a healthy and vibrant environment. In support of this goal, the Ministry continues to pursue best practices for oil and gas development; maintain effective, efficient regulation of mines and mineral exploration sites aimed at health, safety and environmental best practices; and promote the development and use of alternative energy technology and energy efficiency measures.
With regard to Great Goal Five, the responsible growth of the energy, mining and petroleum sectors brings with it the creation of safe, family-supporting jobs throughout B.C. The Ministry encourages investment and activity in these sectors and works with other ministries to help ensure B.C. businesses and workers are available to supply these industries' needs. New investments in geoscience, streamlined regulation and new policies to promote B.C.'s leading edge alternative energy sector, will result in greater economic activity as well as more businesses and jobs in the Province. Ministry strategies supporting Great Goal Five included: expanding opportunities for job training and placement; facilitating First Nation involvement; engaging communities and stakeholders; ensuring reliable low cost electricity is available to support economic development and job creation; and pursuit of offshore oil and gas exploration and development.
