Peyto Exploration & Development CEO, Darren Gee guested on CBC and offered another insightful perspective on what Donald Trump’s presidency means to the Canadian oil and gas industry. Gee said the industry is cautiously optimistic about president-elect Donald Trump because, even though, he is focused on increasing North American energy production (including a speedy Keystone XL approval), Trump’s plans to open US drilling and deregulate sectors of the energy industry could lead to a competitive disadvantage for Canada–especially considering new carbon taxes and regulations. Gee and the CBC host agreed Alberta and Canada’s policies are sending Canada’s oil and gas industry in the opposite direction of its southern counterpart which will be more oil and gas development-friendly.
Peyto’s CEO is echoing a very similar message offered by Birchcliff Energy’s CEO, Jeffery Tonken, who expressed major concern that the US will become a friendlier energy-producing environment than Canada.
Watch the video below courtesy CBC: