What is the National Energy Board?
According to the NEB’s website:
“The National Energy Board (NEB) is an independent federal agency established by the Parliament of Canada in 1959 to regulate international and interprovincial aspects of the oil, gas and electric utility industries. The NEB Act provides the authority for how the NEB conducts business.”
Unknown to many Canadians is that the companies the NEB likes to think of as its “partners,” transfer tens of millions of dollars every year to the NEB as a type of royalty or cost recovery fee. That’s right! The federal regulatory agency is funded by the companies it is supposed to impartially regulate.
National Energy Board: Captured Regulator?
What happens when watchdog becomes lapdog?
Read More: http://thetyee.ca/Opinion/2011/06/17/NEB/
Regulatory Capture – Caepla
“Regulatory capture” are two words that describe what happens when an industry that is supposed to be regulated by an impartial government body, is able to exert so much influence over that body, that the regulator is literally taken captive. When this happens, rather than giving appropriate consideration to the legitimate interests of all stakeholders, the regulator becomes an extension of the industry or businesses it is supposed to monitor and impartially judge or discipline.
Canada’s National Energy Board & the Need for Its Reform
OTTAWA’S NATIONAL ENERGY BOARD PROCEDURAL SECRECY AND A CULTURE OF UNACCOUNTABILITY