BEC / Sep/Oct / 2014 - page 176

176 business elite canada
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SEPT/OCT 2014
A system of accountability is a big part of the
process at AER. Enforcement activities provide
the necessary checks and balances for indus-
try participants to ensure compliance with
regulation. Public and private perception of
the regulator as being open and transparent
is also critical to the process. Pipeline projects
have received a great deal of media attention
and scrutiny over the recent decade, and are
of course a major regulatory issue. The AER
concluded a major pipeline safety review in
August, which is also concerned with environ-
mental protection. Tailings ponds are another
major regulatory issue. Tailings ponds are a
composite of waste byproduct from the oil
sands extraction process used in mining op-
erations. Damage to tailings ponds can cause
them to release toxic contents into the envi-
ronment and they may also leak gradually. In-
dustry is currently working to reduce the size
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