The impact of the Biden plan to decarbonize and build a clean energy economy on the Canadian economy is coming into greater focus. Already, a great deal of attention is turning to Keystone XL. It has been identified as a high-profile target for Biden’s administration and he will likely carry out his campaign promise to cancel the pipeline. The point has been made that Keystone is perhaps no longer necessary with demand at its lowest levels in history. In the face of the pandemic, Alberta [Read more]
Hydrogen’s role in Joe Biden’s “Equitable Clean Energy Future”
As the race for the US presidency winds down, the strong possibility of Biden US presidency brings a focus on renewables. There seems no doubt that the race to replace hydrocarbons in the US will intensify under Biden. The differentiation of hydrogen from green, blue, and gray sources becomes significant as Biden’s policies have a strong focus on green hydrogen. The Biden plan to build a clean energy future includes using renewables to produce carbon-free hydrogen at a lower cost than hydrogen [Read more]
Alberta’s diversification is underway according to Doug Schweitzer
At the end of August, Minister Doug Schweitzer was appointed Minister of Jobs, Economy, and Innovation, an event which not only marked his change of role from Minister of Justice & Solicitor General but also marked the shift in focus for the UCP Government from equating economic development with trade and tourism to defining the Alberta economic recovery according to innovation and jobs. Over the weekend, at the UCP AGM, Minister Schweitzer gave his detailed update on how much he has [Read more]
Conservative Party leader Erin O’Toole speaks to Albertans about leadership and unity
“This is what 5 years of out of touch leadership can do to the country,” said Erin O'Toole after visiting Calgary over the last week. O'Toole wrapped up a few speaking engagements by participating in UCP AGM 2020 webcast Saturday, but it was clear in his messaging that he was not only speaking to party members but to all Albertans and Canadians. He assessed the state of affairs in Alberta and Canada, citing economic destruction, disaffection, disillusionment, and separatist inclinations as [Read more]
Are Canada’s Green policies overfunded and unproductive?- Following the science not the politics with Greg McLean MP
Canadians and particularly Albertans received the Throne Speech this week with great expectations of problematic issues. Since June, as OECD countries were being urged that for “the economic recovery from the COVID-19 crisis to be durable and resilient, a return to ‘business as usual’ and environmentally destructive investment patterns and activities must be avoided”, Albertans have become increasingly wary of ideological approaches to remaking the economy that are not realistic and have little [Read more]
A voice in Ottawa – Comments from transitioning MP Shannon Stubbs, who served as Shadow Minister for natural resources 2015-2020
With the recent introduction of Erin O’Toole’s new shadow cabinet, there has been a change of Energy Critics in Ottawa. Transitioning MP Shannon Stubbs, who served as the official opposition Shadow Minister for Natural Resources since her election in 2015, shared her comments with The BOE Report on the challenges to the Canadian energy industry over the last five years. When the world’s largest sovereign wealth fund divested from four Canadian oilsands companies in May 2020 over concerns [Read more]
ESG- How did a measurement of sustainability become exclusionary to Canadian Oil and Gas?
It seems in this era of disruption that no sooner than a trend becomes popularized, it is diverted from a perceived original purpose. This is increasingly true of ESG- the Environmental, Social and Governance reporting and assessments compiled by asset management companies aimed at achieving sustainable outcomes for investors. The origins of ESG data collection are in the 1990s with the concept of intangible value assessment which according to MSCI.com (Morgan Stanley Capital International) [Read more]
Canadian midstream and producers – “We’re in this together”
The challenges facing Canadian oil and gas companies are daunting - collapsed oil prices & demand amid the COVID-19 pandemic, regulatory uncertainty, Bill C-69, asset write-downs and credit crunch/liquidity challenges to mention some. For E&P companies carrying too much debt, despite calls for help with liquidity, the writing may be on the wall. In a recent interview with The BOE Report, Rick Peterson of Peterson Capital commented: “It’s going to be tough and right now I think there [Read more]
Going International – As COVID-19 and oil price shocks drive reserves of global O&G assets for sale, are there opportunities for Canadian companies?
Amid the COVID 19 oil price crash, the amount of current oil and gas assets with recoverable reserves for sale globally has ballooned up to over 12.5 billion boe, according to a recent Rystad Energy report. While some companies are divesting low-priority assets, others are considering whether this may be the right time to acquire assets at a low price. Certainly a recent IHS report stating that global oil demand has recovered to 89 per cent of what it was before the COVID-19 pandemic crushed [Read more]
The need for action-Two days before Alberta’s fiscal update, Jason Kenney indicates it will show a +$10B revenue drop
Jason Kenney announced a cabinet shakeup tuesday, moving Doug Schweitzer into the newly created Ministry of Jobs, Economy, and Innovation, Tracy Allard to Municipal Affairs, and Kaycee Madu to the Ministry of Justice. But the biggest message of his address was his reference to the Summer 2020 report by the Conference Board of Canada that signaled that Alberta’s economy will be the most heavily hit economy in Canada this year with an 11% contraction and that tomorrow’s Alberta fiscal update will [Read more]