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Fifth, First Nations-owned businesses have earned much of their market share and profits in sub-contracting, where they rely on new construction and growth. But C-69 stops new growth. Existing projects will shift into caretaking mode and cut costs to make money, but it’s the small businesses — the trucking, catering and the construction trades — that will be devastated.

There were many decades when energy and mining companies didn’t consider impacts and didn’t share benefits with First Nations, and it was unacceptable. Those days are long gone. Our goals today are more aligned than ever. First Nations are no longer told what to do. They have negotiating power.

The industry is working hard to consult and engage with First Nations. That was a call to action from the Truth and Reconciliation Commission and we have taken that responsibility seriously, far outpacing the federal government in many ways. Indigenous employment is now 7.8 per cent for extractive industries compared to the federal government, where it is at just 4.7 per cent. We also procure more Indigenous services than the Government of Canada does. Since 1996, Suncor alone has procured $1.7-billion more in Indigenous services than has the entire federal government.

It seems like C-69 was based on the misconception that Indigenous communities are victims of the resource industry and that they need the federal government to protect them. From my perspective, that’s a paternalistic and out-dated style of thinking. The truth is, they are increasingly part of the industry, as shareholders, employees and contractors. First Nations want to be project owners themselves. An expensive, burdensome, and uncompetitive regulatory environment hurts their economic prospects too.

First Nations have the most to lose from this legislation. They’re already being harmed by the uncertainty C-69 is causing in the resource industry. While that may not have been the government’s intention, it is the effect. It needs to be fixed.

Brian Schmidt (Aakaikkitstakii) is an honorary chief of the Blood Tribe, CEO of Tamarack Valley Energy and a former board director of Indian Oil and Gas Canada.