Political priorities come and go, especially when it comes to energy these days, and Pembina Pipeline Corp. has been adding value one piece of infrastructure at a time since the days of Louis St. Laurent.
Its most recent growth spurt, much of it through the oil and gas downturn, has boosted its enterprise value to $26.7 billion, from $14.4 billion in 2014 when current chief executive Mick Dilger took over, and from $3 billion 10 years ago.
With that kind of pedigree, you could do worse than pay attention to Dilger, who believes it would be better for governments to help improve the value of existing resources rather than chase new energy sources.
Canada, he points out, sits on some of the world’s best and largest deposits of natural gas, which could be the bridge fuel to both help solve the climate change challenge by replacing coal and turn the country into a green superpower.
“How bad does it have to get in Canada before people care?” Dilger said in an interview in the company’s Calgary headquarters. “Monies don’t come from governments. They come from adding value, and maybe parts of Canada have had it too good and we need some pain before people start to wake up. It’s also frustrating to me because I am mindful of the environment.”