Canada cuts energy red tape, helps forestry sector

OTTAWA, March 4 (Reuters) - Canada plans to simplify and
speed up a complex regulatory process for energy projects that
require approvals from so many different authorities
that major investments can take years to get a green light.

The federal budget, unveiled on Thursday, promised to
"further improve the regulatory review process for large energy
projects" to ensure procedures were timely and predictable.

From now on responsibility for carrying out environmental
assessments will move from the Canadian Environmental Assessment
Agency (CEEA) to the National Energy Board and the Canadian
Nuclear Safety Commission, which the government says have more
expertise than the CEEA.

The budget did not touch upon the current requirement for
projects to be approved both by federal and provincial
authorities, which critics say is hopelessly unwieldy.

It also promised C$100 million ($97 million) over the next
four years to support the development of advanced clean energy
technologies in the hard-hit forestry sector and make the entire
sector more sustainable.

The government, accused by critics of lagging on green
energy initiatives, said it would encourage investment in
technologies that cut pollution and greenhouse gas emissions.
($1 = $1.03 Canadian)
(Reporting by David Ljunggren, editing by Janet Guttsman)