This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Harper Government Announces First Steps Towards World-Class Tanker Safety System

March 2013


Creation of the Tanker Safety Expert Panel

The Government of Canada works in a number of ways to protect our marine environment, and to help ensure that marine transportation is safe and efficient. While the current system has served Canada well, a comprehensive review will help us to build a stronger system that can meet future needs. That is why the Government of Canada announced the creation of the Tanker Safety Expert Panel.

Brander-Smith Panel

The last panel to review Canada's tanker safety sytem was commissioned following the 1989 Exxon Valdez incident and led to the Brander-Smith Report. In response to the recommendations contained in this report, a comprehensive national Marine Oil Spill Preparedness and Response System was developed. This system established a level of preparedness to respond to marine oil pollution incidents in Canadian marine regions south of 60° north latitude.

New measures

While the current system has met existing needs, and there have been no major spills involving oil tankers, the dynamics of oil transportation have changed significantly. For example, oil and liquefied natural gas shipments have increased significantly along with the transport of hazardous and noxious substances. The Commissioner of the Environment and Sustainable Development has recommended that the Government of Canada ensure that Canada is prepared to respond to ship-source oil and chemical spills in Canadian waters.

The Government of Canada is also investing in a suite of measures to strengthen tanker safety and to review the legislative and regulatory frameworks related to it. A key component of these measures is the creation of a panel, which will develop recommendations for a world-class tanker safety system.

The Tanker Safety Expert Panel will conduct a pan-Canadian, evidence-based review and assessment of Canada's tanker safety system to make recommendations to the Government of Canada on the development of a world class system. Specifically, the panel will assess the system's structure, functionality and its overall efficiency and effectiveness.

The review will have two components: the first component will focus on the system currently in place south of 60° north latitude, while the second component will focus on the requirements needed for the Arctic as well as a national review of the requirements for hazardous and noxious substances, including liquefied natural gas.

3 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 0.00%
FB $117.43 0.00%
GOOG $692.36 0.00%
TSLA $232.32 0.00%
YHOO $36.01 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs