Recently, Jagmeet Singh, NDP leader vowed he would end subsidies given to oil and gas companies if the NDP wins the upcoming federal election, directing that money to renewable energy. Via Investopedia, a subsidy is a benefit given to an individual, business, or institution, normally from government. It brings to question, do Canadian oil and gas companies receive subsidies from their government, and how much? In April, a report released by Environmental Defence stated the government provided [Read more]
Coal powered Teslas?
Even in the face of renewable energy and sustainable oil and gas, one has to wonder how green natural gas and its cohorts really are compared to other fuel sources and sources of energy. Technologies and innovations are helping renewables such as wind, solar, and natural gas see a larger market presence, and the hope is they can provide energy and power for planet as it makes a shift from fossil fuel consumption. Natural gas does help to diversify the energy mix and provide more options for [Read more]
MEG Energy making contribution to the Pathways to Net Zero Initiative
In June, MEG Energy, Canadian Natural Resources, Cenovus Energy Inc., Imperial, and Suncor Energy joined forces in forming the Oil Sands Pathway to Net Zero initiative. The goal of this alliance, by working closely with the federal and Alberta governments, is to achieve net zero greenhouse gas emissions (GHG) from oil sands operations by 2050 to help Canada meet its stated climate goals. This unprecedented alliance will heavily focus on a carbon capture, utilization, and storage (CCUS) [Read more]
Alberta in good position with hydrogen
Long known for its abundance of natural resources that have fuelled its economy, both literally and figuratively, for decades, Alberta has found itself in an advantageous position with regard to hydrogen and natural gas. Hydrogen is the most abundant element in the world and is making a name for itself and providing the province with an opportunity to supply a clean and responsibly sourced natural gas in a world with increasing momentum towards a low carbon future. The province is making [Read more]
Vaccine helping oilsands navigate outbreaks at sites in Northern Alberta
COVID-19’s third wave, fuelled largely by the B.1.1.7, B.1.351, and P.1 variants, affected nearly 3,000 people, decimating Canada’s oilsands workers notably in two outbreaks – CNRL Horizon and Mildred Lake, Syncrude. Heather Yourex-West reported that federal exemptions were blamed for the outbreaks across the sites, as workers were brought in for maintenance work post-winter drilling. Two people have died of COVID-19 while working in the oil sands. It was reported in mid-May that since the [Read more]
Line 5 causing division and cross-border tensions
As both Canada and the U.S. await the heavily anticipated court decision of the Line 5 pipeline, people are holding their breath and hopeful for good news. Michigan and its Governor Gretchen Whitmer has ordered Canadian-owned Enbridge to close its 67-year-old pipeline over concerns about its environmental safety, which delivers a massive amount of oil and energy requirements (540,000 barrels a day) to Ontario, Quebec, and midwestern states, as well as more than half the propane consumed in [Read more]
The state of royalty companies in Alberta
According to alberta.ca, the government owns 81% of oil and gas resources in Alberta and collects royalties from companies when an oil or gas well or oilsands project is in production, and are a major source of revenue for the province. At the recent CAPP Symposium, there was a panel titled Royalty Companies: Stable Business Models in Volatile Markets with David Spyker, President and CEO, Freehold Royalties Ltd., Andrew Phillips, President and CEO, PrairieSky Royalty Ltd., and Marty Staples, [Read more]
The innovations driving Canada’s oil and gas sector
Canada’s oil and gas industry throughout the years has seen many innovations help its industry keep pace with the global industry. Along the way, those innovations have helped Canada become one of the world’s leading oil and gas producers. As the industry evolves and changes at rapid levels, mainly due to COVID-19, climate targets, and an increasing demand for energy, Canada and Alberta are well situated to handle those changes and evolutions. Along the way, investments from federal and [Read more]
Moe & Savage: Optimism in 2021
The recent Canadian Association of Petroleum Producers (CAPP) Symposium featured keynote speakers, such as Saskatchewan Premier Scott Moe and Alberta’s Energy Minster Sonya Savage, who gave compelling speeches on the state of the Canadian oil and gas sector. Canada’s oil and gas sector and economy have been tremendously impacted by COVID-19, and as the country trudges forward, the sector will play a huge role in the country’s economic recovery. Saskatchewan’s rich resource base will also be a [Read more]
The importance of a diverse customer base for Canadian energy
Having a diversified economy that is non-reliant on one major customer is important for any country. For Canada, this importance is magnified, as selling its most abundant resource, oil and gas, to its biggest customer, the United States, faces potential problems under the Biden administration. To see Canada’s long-term growth be fruitful, diversification of its markets is necessary. In order for that to happen, the country needs energy diversification with a wider and larger customer [Read more]