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Efficiency in B.C.’s resource sector means two things. First, we must “internalize externalities” — account for the impact of our industries on other vital factors for our wellbeing such as our air, water and climate goals. This is how the carbon tax works — it incentivizes emitters to reduce pollution and become more efficient. This global drive for efficiency creates economic opportunities. For example, Vancouver-based MineSense’s technology saves mines between $20 million to $200 million per site, while also reducing electricity and water consumption by 20 to 25 per cent and tailings by up to 40 per cent. B.C.’s economy grows by creating the technology that enables others to make this same transition.

Second, efficiency means ensuring B.C. is getting the maximum value for our resources. The last two provincial budgets reported job losses in forestry, fisheries, mining and oil and gas. My caucus and I hear a common theme from resource businesses, industry groups and local governments — the economic value of B.C.’s natural resources does not remain in our communities.

In forestry, sawmills close as raw log exports persist. In fisheries, quotas become concentrated in the hands of a few companies, pricing young fishers out of the market. Seafood caught in Canadian waters is shipped to Asia, where it is processed, and then shipped back here to be sold. The Trans Mountain Pipeline expansion seeks to export diluted bitumen, which must be refined abroad before it can be of any use to consumers. Every time we ship a raw commodity overseas, we forgo opportunities to create well-paying jobs and grow our economy. There is no need for this — B.C. also has a highly educated workforce, a strong entrepreneurial spirit, world-class research institutions and is a beautiful place to live.