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Poilievre wants Bill C-69 and Bill C-48 repealed to unleash energy sector

Poilievre proposes moving to a “pay cheque economy” by unleashing the economic power of Canada’s workforce.

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Conservative finance critic Pierre Poilievre says Canada is operating as a “credit card economy.”  

Instead, speaking in the House of Commons on Monday, Poilievre proposes moving to a “pay cheque economy” by unleashing the economic power of Canada’s workforce.

In order to accomplish this he wants to repeal Bill C-69 and Bill C-48, currently strangling the energy sector in the west. They are known as the anti-pipeline and anti-tanker acts brought in by the Trudeau government.

This would be good news for many in the west, particularly those in the energy sector who have suffered massive layoffs as a result of the COVID-19 driven price and demand slump. 

The energy sector suffered losses of $20.6 billion in 2018 alone due to pipeline shortages, according to the Fraser Institute. 

“We have a $14 billion LNG project in waiting approval in Quebec. We have a $20 billion oil sands project sitting around waiting in Alberta. We have pipelines, we have rail lines, we have transmission lines that are ready to go as soon as the government gets out of the way. So, let’s get the government out of the way,” said Poilievre.

During a press conference, Poilievre told reporters Conservatives are putting forward plans to “unleash the fierce power of our workforce

“Let’s get them back to work by quickly approving the $20 billion worth of resource projects that await federal sign-off. Let’s approve the LNG project in Saguenay. $14 billion of steel-working jobs, of energy jobs, of long-term operational jobs in La Belle Province du Quebec,” he said.

Poilievre also wants to eliminate provincial trade barriers so that provinces can buy from each other, rather than from foreign sources, and loosen permitting restrictions for industrial projects to eliminate approval delays.

It currently takes one hundred and sixty-eight days longer in Canada than in the U.S. to get a building permit – and this is bad for investment and jobs, he said.

“We are now the 34th out of 35 OECD nations in terms of the time it takes to get approval… to build something.”  

“Canada’s debt-to-GDP ratio is now 384 percent… a record smashing level of debt. It’s the second highest in the G7 behind only Japan. This high level of debt, to fund short-term consumption, has only made us weaker and more vulnerable to the rest of the world,” he said.

Grafton is the Western Standards Ottawa Bureau Chief. He can be reached at kgrafton@westernstandardonline.com

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2 Comments

2 Comments

  1. Charles Martell III

    December 8, 2020 at 1:12 pm

    Canadians Voted Themselves off the island in 2015 . . . now we are pursuing the Gorebull Warming Agenda . . . only the completely insane think that Solar and Wind Energy are going to provide real Jobs and fill the Grocery Stores.

    A Decade ago LNG was being promoted, the USA has LNG operations on 3 coasts . . . Canada is still talking. The Globe runs on Oil & Gas and will for the forseable Future, there is nothing to replace them today, next year or likely in the next few decades.

    Canada has enough Oil for 100 years and enough Natural Gas for 200 years . . . if we fail to take advantage of that we will be much poorer, less healthy and have shorter lifespans.

    • Sanford Thompson

      December 9, 2020 at 9:21 pm

      To true. If CO2 were an existential threat we would have terminals on the other three shores with royalty Free natural gas, subsidizing the coal burning world to make the switch.

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Energy

IEA recognizes Canadian oil industry as the environmental world leader

In 2018, oil and gas companies also invested $3.6 billion in environmental protection initiatives, recognized by the IEA as by far the largest environmental protection spend of any industry in the country.  

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Canada is doing great but should take measures to continue its reputation as a preferred oil and gas supplier on the global market, says the International Energy Agency.

IEA Executive Director Fatih Birol is a big advocate for net zero targets, but still recognizes the reliance on oil and gas that will persist into the future.

He said he prefers oil supply to come from “good partners” like Canada, he told a press conference.

“Canada has been a cornerstone of global energy markets, a reliable partner for years,” said Birol.

“We will still need oil and gas for years to come… I prefer oil is produced by countries … like Canada (that) want to reduce the emissions of oil and gas.” 

The same IEA report included recommendations for Canada to incentivise moves away from oil production, yet the director still recognizes Canada’s contribution to the global market.

World oil consumption returned to pre-pandemic levels and natural gas demand surpassed levels pre-COVID-19 last year, according to IEA data.

Yet Canada only supplies 6% of the current world market.

Consumption of both oil and gas is expected to continue rising even as more renewable energy sources come online. 

A Russian-caused natural gas crisis in Europe has many looking to Canada as a great alternative.

“The world needs reliable partners,” said Birol, of the European situation.  

Canada is the fourth-largest producer of oil and natural gas in the world and home to the third-largest oil reserves.

“This creates employment for Canadians and secure and reliable oil and gas for both domestic and global markets,” the IEA said.  

The IEA recommends that remaining competitive in global oil and gas markets requires further emission reductions, to ensure the sector remains a major driver of the Canadian economy beyond 2050.

Emission reduction has already been steadily implemented in Canada, analysts praised the oil and gas industry’s “strong track record” of reducing emissions intensity.

The oilsands by have decreased emissions by 32% since 1990 and further reductions of up to 27% are expected by 2030. 

Canadian oil and gas companies spend an average of $1 billion per year on clean energy technology, in addition to billions in environmental protection.  

In 2018, oil and gas companies also invested $3.6 billion in environmental protection initiatives, recognized by the IEA as the largest environmental protection spend of any industry in the country.  

“Canadian oil and natural gas producers are leveraging their improving environmental, social and governance performance and Canada’s stringent environmental regulations to build a global competitive advantage.”

Ewa Sudyk is a reporter with the Western Standard
esudyk@westernstandardonline.com

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Energy

Oil price jump prompts additional $6 billion in investments

Oilsand investments alone are expected to increase to $11.6 billion in 2022, a 33% jump.

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The largest oil and gas industry group in Canada says it’s expecting $32.8 billion in oil patch spending this year, a 22% jump from last year.

Canadian Association of Petroleum Producers (CAPP) says the increased investment will help capitalize on the surge in crude oil prices, the growth will amount to an additional $6 billion this year.

Oilsand investments alone are expected to increase to $11.6 billion in 2022, a 33% jump.

As of Friday, the price of West Texas intermediate crude oil today is $87.05.

Tim McMillan, president of the CAPP, said the seven-year high price of oil doesn’t mean bad news, as companies are recording record cash flows and investment remains well below what it was in the boom years.

For example, in 2014 the Canadian industry captured 10% of total global upstream natural gas and oil investment, and the oil patch received record investment at $81 billion.

“Today we’re at $32 billion, and we’re only capturing about 6% of global investment,” said McMillan.

“We’ve lost ground to other oil and gas producers, which I think is problematic for a lot of reasons … and it leaves billions of dollars of investment that is going somewhere else, and not to Canada.”

Alberta is expected to be the leader among provinces in overall oil and gas capital spending, with upstream investment expected to increase 24% to $24.5 billion in 2022.

Over 80% of the industry’s new capital spending this year will be focused in Alberta, representing an additional $4.8 billion of investment into the province compared with 2021, according to CAPP.

Investment increase is also excepted in British Colombia, Saskatchewan and offshore production.

This means major recovery for the industry, as 2020 was harsh with global demand crashing and oil prices collapsing.

Global investment is on the down turn, as potential investors are discouraged by Canada’s history of cancelled pipeline projects, regulatory hurdles and negative government policy signals.

McMillan explained many now see Canada as a “difficult place to invest.”

“Rapid demand growth for oil and natural gas globally and strengthening commodity prices mean there is opportunity for Canada’s industry for decades to come,” said McMillan.

“To ensure a true recovery takes hold in Canada, government at all levels along with the industry must work together to create an environment where the natural gas and oil industry can thrive and attract investment back to Canada.”

Ewa Sudyk is a reporter with the Western Standard
esudyk@westernstandardonline.com

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Energy

Energy report tells feds to incentivize moves away from oil

The IEA calls for the Canadian government to creating transparent changes to the oil and gas industry but incentivizing technology changes and creating emergency oil stocks.

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A new report says Canada should further invest in clean in electricity and that our country is already among the cleanest energy production in the world.

The International Energy Analysis (IEA) came out with a report outlining recommendations for Canada’s energy future, including balanced decarbonization across the country.

That means higher coordination between federal, provincial and territorial levels to set clear targets for energy efficiency in buildings, transport and industry sectors.

The IEA calls for the Canadian government to create transparent changes to the oil and gas industry but incentivizing technology changes and creating emergency oil stocks.

Canada’s electricity system is one of the cleanest globally according to the IEA report, as 80% of supply is from non-emitting sources such as hydropower and nuclear power.

“Canada’s wealth of clean electricity and its innovative spirit can help drive a secure and affordable transformation of its energy system and help realize its ambitious goals,” said IEA Executive Director Fatih Birol.

“Equally important, Canada’s efforts to reduce emissions — of both carbon dioxide and methane — from its oil and gas production can help ensure its continued place as a reliable supplier of energy to the world.”

The report follows Environmental Minister Steven Guildbeault’s announcement for Canada to be ready to eliminate fossil fuels in 18 months, with zero-emission cars and stricter methane regulations.

Conservative leader Erin O’Toole expressed concern on Twitter with the zero emission plans, calling attention to the need to invest in the oil sector rather than turn away from it.

Energy makes up over 10% of Canada’s GDP, being a major source of capital investment, export revenue and jobs, making the net-zero goals both a challenge and opportunity.

Since the last IEA review in 2015, Canada has made international and domestic commitments dedicated to transforming the energy sector, including a target to cut greenhouse gas emissions by 40‑45% by 2030.

Canada is also a part of the United Nations zero-emission 2050 target that involves over 130 countries worldwide.

Ewa Sudyk is a reporter with the Western Standard.
esudyk@westernstandardonline.com

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