This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs