Oil and Gas Sector-Politics and Image – Page 25

Kenney’s plan to get Alberta out from under Trudeau before he completely destroys it – by Diane Francis (Financial Post – November 11, 2019)

November 11, 2019

https://business.financialpost.com/

He also pointed out, to those who claim that the world must wean
itself from oil, that this is irrational. “The International Energy
Agency says global demand for oil will increase from 100 million
barrels per day to 110 million barrels a day by 2040. The same
agency says that, even if there is full compliance with the Paris
Treaty on climate, the demand by 2040 will be 80 million barrels
per day,” he said. “And natural gas demand globally will double”.

Prime Minister Justin Trudeau’s father rolled out the National Energy Program in 1980 — a punitive tax grab for Alberta’s oil revenues to pay for the Liberal welfare state. Years later, Justin Trudeau did a redo by discriminating against Alberta’s oil industry to pay for his welfare state, phoney climate agenda and Quebec goodies.

But again, the jig’s up and Alberta Premier Jason Kenney came out fighting this weekend and, as many of us have recommended, embarked on a “workaround” strategy to get out from under Trudeau and the Laurentian elites who still control Canada.

Instead of a national energy grab, this Trudeau has cloaked himself in green by attacking the oil industry without even addressing the real problem which is demand.

It took decades to push Alberta to this point — but it was inevitable – by Kelly McParland (National Post – November 11, 2019)

November 11, 2019

https://nationalpost.com

Kenney’s panel will look at these and other issues, including
deep disgruntlement with the equalization program that treats
Alberta as a “have” province while sending $13 billion — 65
per cent of the national total — to “have not” Quebec. Quebec’s
payment rose sharply this year, even as it announced a $4
billion surplus. Alberta, in contrast, expects a shortfall of
$8.7 billion for the same period.

The combative address Jason Kenney delivered in Red Deer on Saturday didn’t come out of the blue. This is a storm cloud that’s been hovering around Alberta for a very long time. Eventually it was going to erupt.

There have been plenty of precursors. From Pierre Trudeau’s first lunge at Alberta’s oil wealth almost 40 years ago via the National Energy Program, Albertans have kept a wary eye on Ottawa and its grabby revenue fingers.

OPINION: Beware foreign CEOs: Sometimes they just want to go home – by Eric Reguly (Globe and Mail – November 9, 2019)

November 11, 2019

https://www.theglobeandmail.com/

Want to lose another Canadian head office? Easy! Hire a non-Canadian CEO. Canadian boards of directors seem to have a fascination with foreign chief executive officers. Canada is (largely) an open economy, one with pretenses to corporate greatness, so why not pick the best and the brightest from the United States, Europe and elsewhere?

Load them up with fat salaries and share option packages, and watch them create a Niagara of shareholder value. And a flag-waving Canadian business champion as a bonus.

Canada and a few other countries that worship at the altar of shareholder value, Britain among them, have bought into the cult of the globalist CEO – big time. But the cult is wearing thin.

Iran has discovered an oil field with an estimated 53 billion barrels of crude, Rouhani says – by Nada Altaher and Matthew Robinson (CNN Business – November 10, 2019)

November 11, 2019

https://www.cnn.com/

Abu Dhabi (CNN)A vast oil field containing an estimated 53 billion barrels of crude oil has been discovered in Iran, President Hassan Rouhani announced Sunday, a find that could boost the country’s battered economy amid stringent US sanctions.

The oil field in southwest Iran stretches over an area of 2,400 sq km (about 1,491 square miles) in the Khuzestan province and is around 80 meters (262 feet) deep, according to the Iranian leader.

It would be the country’s second largest oil field, behind one in Ahvaz containing an estimated 65 billion barrels. “We have discovered a new big oil field with 53 billion barrels of reserves,” Rouhani said in a speech Sunday in the city of Yazd, according to the semi-official Mehr news agency.

OPINION: The Trans Mountain expansion is nation-building, pure and simple – by Victor Dodig (Globe and Mail – November 8, 2019)

November 8, 2019

https://www.theglobeandmail.com/

Victor Dodig is chief executive officer of Canadian Imperial Bank of Commerce.

Canada’s energy sector is our country’s “family business.” Even if we don’t work in it, we benefit from it economically and socially – and have for generations. The industry supports more than 800,000 direct and indirect jobs across the country, as well as vital social services such as health care and education.

In 2018 alone, the sector contributed $167-billion to Canada’s GDP; that’s more than the financial services and insurance industries combined. Today, we have a chance to build on this legacy and compete globally to support our country’s future prosperity.

Yet, it can feel as though we’re competing with ourselves. The family business has fallen on tough times, and it’s hurting all Canadians. As with any family, we must come together to find a solution. Let’s begin with two important truths.

The West doesn’t need Quebec to get its oil flowing East. There is another way – by Terence Corcoran (Financial Post – November 6, 2019)

November 6, 2019

https://business.financialpost.com/

Oil could move year-round through a pipeline-to-tanker operation loaded from a facility on the West Coast of Hudson Bay

The future of Alberta’s oil and gas resources has never looked grimmer. Anti-pipeline activists promoting the ideology of climate change have infiltrated federal and provincial governments, leaving Canada’s fossil-fuel rich Western provinces in seeming isolation.

Some First Nation groups and environmentalists went to court Tuesday to shut down the Trans Mountain XL oilsands pipeline to Canada’s West Coast. In Quebec, Bloc Québécois federal leader Yves-François Blanchet and Premier François Legault promise to block any attempt to build new pipeline capacity through their province to Canada’s East Coast.

There is an alternative for the West, for Alberta’s oil and maybe for the future of Confederation. To put it bluntly, the West doesn’t need Quebec. To get oil to the East and other parts of the world, where fossil fuel demand is set to grow no matter how hard the United Nations tries to shut it down, veteran Canadian energy transport expert Michael H. Bell has a plan.

Alberta needs a new deal, fast, or separation is inevitable – by Diane Francis (Financial Post – November 4, 2019)

November 5, 2019

https://business.financialpost.com/

Alberta is Canada’s breadwinner, but is treated like a stepchild

Alberta must adopt Quebec’s playbook and become a “nation” within a nation or threaten to leave. The ballot box does not work and Alberta is Canada’s breadwinner, but is treated like a stepchild.

Step one is for Alberta to demand the immediate construction of the TMX pipeline and the scrapping of Bills C-48 and C-69. No delays.

Then Alberta should stage a referendum before Christmas 2019 on opting out of, or revamping, Canada’s unjust equalization system. (Since 2010, Ottawa has taken an average of over $20 billion a year out of Alberta; Quebec receives $13 billion, or two-thirds of every dollar in the federal equalization program.) It’s a bribe to Quebec with Alberta money which is why Justin Trudeau recently extended the system to 2024 — an extension which should be nullified.

Indigenous Canadians want natural resources development — why aren’t we being heard? – by Dale Swampy (Financial Post – November 1, 2019)

November 1, 2019

https://business.financialpost.com/

Opinion: Do not deny us our opportunity for well-being and prosperity simply to serve your stereotypes of what Indigenous peoples should be for and against

Many Canadians have a one-dimensional understanding of Indigenous cultural, political and economic realities, based on the stories they see and hear in the mainstream media and the messages they get from politicians.

We are often portrayed as a homogenous group with common interests, opinions and needs. One story that always gets attention is of Indigenous Canadians as victims of industry, protesting pipelines and other resource developments as they cross our territories.

The truth is, the vast majority of Indigenous communities in Canada are engaged in natural resource development, and on terms that we agree to. Indigenous communities have entered into over 450 agreements with mining companies since 2000, and 58 per cent have a contract or agreement with a forestry company.

Encana leaves for U.S., changes name as industry veterans lament ‘heart-wrenching’ decision – by Emma Graney and Jeffrey Jones (Globe and Mail – November 1, 2019)

November 1, 2019

https://www.theglobeandmail.com/

A major Alberta oil and gas company whose roots date nearly back to the establishment of Canada as a country is moving its head office to the United States and changing its name as the province’s energy sector struggles to retain investment.

The relocation means Encana Corp. will now be based south of the border. It comes after the departure of foreign oil and gas companies from Canada, with Royal Dutch Shell, ConocoPhillips and Devon Energy Corp. selling their Canadian assets or scaling back investments as a crunch in pipeline space crimps prices.

Encana’s move on Thursday compounded an already bitter political debate between Alberta and Ottawa. The Liberal Party was returned to government last week with a minority after an election in which anger over environmental policies, including a carbon tax, and pipeline delays left the Liberals with no seats in Alberta.

Indigenous: Legal playing field tilted against First Nations in resource development battles, says new report – by Jorge Barrera (CBC News Indigenous – October 29, 2019)

October 30, 2019

https://www.cbc.ca/news/indigenous/

Canada’s legal landscape continues to be heavily in favour of corporations when it comes to court injunctions during conflicts with First Nations over resource development, according to a report released Tuesday by an Indigenous-led think-tank.

The report by the Yellowhead Institute, based out of Ryerson University in Toronto, says corporations are vastly more successful than First Nations in obtaining injunctions. The report, called Land Back: a Yellowhead Institute Red Paper, delves into the ongoing struggle between Canada and First Nations over lands and resources.

The most recent conflicts have played out in court cases around the Trans Mountain oil pipeline expansion project and the Coastal GasLink natural gas pipeline project in northern B.C. earlier this year.

This mess of an election has definitely changed the climate in the West – by Rex Murphy (National Post – October 26, 2019)

October 28, 2019

https://nationalpost.com/

Justin Trudeau has stated his priority going forward will be climate change. He sees it as “unifying.” Many are claiming the election was “a climate-change election.” I beg to differ on both counts.

Legitimizing the mess we just endured under the explanatory banner that it was a vote about climate change is claptrap, and a pretty low grade of claptrap at that.

Not even the watery pilgrimage of the sainted Greta Thunberg to our shores, and the emptying of half the schoolrooms of the nation for what was called a climate emergency march, had any perceptible effect on Monday’s vote.

A Message From Canada [Energy Industry]

October 25, 2019

https://www.canadaaction.ca/ Canada Action is an entirely volunteer-led grassroots movement encouraging Canadians to take action and work together in support of our vital natural resources sector. We believe it’s critical to educate Canadians about the social and economic benefits provided by the resource sector and industry’s commitment to world-class environmental stewardship.

Election has done little to ease anxiety in Canada’s business community – by Heather Scoffield (Toronto Star – October 23, 2019)

October 23, 2019

https://www.thestar.com/

Financial markets may have shrugged off Canada’s election results on Tuesday in spite of dire warnings from Conservative Leader Andrew Scheer that a Liberal victory would surely mean out-of-control deficits and irresponsible new taxes.

But Justin Trudeau should not for a moment take the markets’ nonchalance as an endorsement of his plans for economic management. The business community is anything but nonchalant, and the East-West schism that the electoral results are already exacerbating only makes matters more uncertain.

It’s true that some traditional critics of big deficits — which, under the new government, will continue — seem largely unperturbed. Both the Bank of Montreal and Scotiabank saw little economic damage from the Liberals’ fiscal plans.

With no voice in the oilpatch, Liberals face challenge engaging ‘angry and scared’ western provinces – by Geoffrey Morgan (Financial Post – October 23, 2019)

October 23, 2019

https://business.financialpost.com/

‘We’re into our fifth year of a downturn and people are angry. Not just angry but scared’

CALGARY — The Liberals’ total rout in Alberta and Saskatchewan and the unceremonious unseating of Natural Resources Minster Amarjeet Sohi has posed another headache for the re-elected ruling party — finding a minister who can engage with the country’s biggest oil and gas producing provinces.

The Liberals lost their seats in Calgary, Edmonton and Regina during Monday’s federal election, resulting in a Liberal minority government without representation in the country’s two largest oil and gas producing provinces.

A minority government, potentially aided by parties hostile to the oilpatch, has already cast a gloom over downtown Calgary. The mood was further darkened after Husky Energy Inc. announced Tuesday it was laying off an undisclosed number of employees, adding to Alberta’s high unemployment rate, which stands at 6.6 per cent — a full point above the national average.

CANADA ELECTION: Obama wasn’t the only American interfering in the Canadian election – by Vivian Krause (Financial Post – October 22, 2019)

October 22, 2019

https://business.financialpost.com/

Barack Obama’s tweet in support of Justin Trudeau wasn’t the only outside influence in the 2019 election. In eight battleground ridings, Leadnow, a Vancouver non-profit with roots in the United States, was busy helping to try to defeat Andrew Scheer and the Conservatives.

According to emails sent to anyone who subscribes, Leadnow made 150,000 phone calls, and in Greater Toronto, it ran radio ads against the Conservatives.

Leadnow is one of the lead organizations in a Rockefeller-funded international effort called The Tar Sands Campaign that aims to land-lock oil and natural gas from Western provinces, keeping Canada out of the global oil market.