Latest news with #CanadianAssociationofPetroleumProducers
Calgary Herald
3 days ago
- Business
- Calgary Herald
Alberta and Ottawa tout a grand bargain on 'decarbonized' oil but some are skeptical
Article content OTTAWA — 'Grand bargain' was the phrase of the day on Parliament Hill after Prime Minister Mark Carney and his provincial counterparts found common ground on oil and gas development. Article content 'If (the Conservatives) were listening to yesterday, there is a grand bargain,' Energy Minister Tim Hodgson boasted to the Opposition benches. Article content Article content 'There is a bargain that the premier of Alberta has signed onto.' Article content Article content Alberta Premier Danielle Smith left Monday's first ministers' meeting with a new deal exchanging oil sands access to coastal waters for massive investments in decarbonization technologies, but experts warn this could be a costly pipe dream. Article content Article content 'I'm worried we're seeing (the first ministers) fall into a trap of wanting to have their cake and eat it too,' said Tim McMillan, a partner at Garrison Strategy and the former head of the Canadian Association of Petroleum Producers. Article content 'Let's call it the grand bargain,' Smith told reporters in Saskatoon, referring to the idea of twinning new pipeline proposals with large-scale decarbonization projects. Article content Carney said Monday that he'd consider fast-tracking a new oil pipeline to the West Coast if it shipped 'decarbonized barrels' to new markets. Article content Article content 'There's real potential there (and), if further developed, the federal government will look to advance it,' said Carney. Article content Article content But McMillan says the devil could be in the details. Article content 'I don't know exactly what they're talking about with decarbonization, but… it may be linked to carbon capture, which does not increase our exports (or) investability,' said McMillan. Article content The Calgary-based Pathways Alliance, a group of six major oil sands producers, has put forward a $16.5-billion decarbonization network that would reroute carbon emissions from nearly two dozen facilities to an underground hub near Cold Lake, Alta.
Edmonton Journal
3 days ago
- Business
- Edmonton Journal
Alberta and Ottawa tout a grand bargain on 'decarbonized' oil but some are skeptical
Article content Alberta Premier Danielle Smith left Monday's first ministers' meeting with a new deal exchanging oil sands access to coastal waters for massive investments in decarbonization technologies, but experts warn this could be a costly pipe dream. 'I'm worried we're seeing (the first ministers) fall into a trap of wanting to have their cake and eat it too,' said Tim McMillan, a partner at Garrison Strategy and the former head of the Canadian Association of Petroleum Producers. Smith said Monday evening that she was encouraged by the inclusion of language endorsing the movement of 'decarbonized Canadian oil and gas by pipelines' in the meeting communiqué. 'Let's call it the grand bargain,' Smith told reporters in Saskatoon, referring to the idea of twinning new pipeline proposals with large-scale decarbonization projects. Carney said Monday that he'd consider fast-tracking a new oil pipeline to the West Coast if it shipped 'decarbonized barrels' to new markets.
National Observer
30-04-2025
- Business
- National Observer
Energy, environmental groups are hopeful after the Liberal federal election win
Energy industry groups and environmental advocates were striking a hopeful note a day after voters returned the Liberals to power in Ottawa with a minority mandate. "A new federal government offers an opportunity to rejuvenate Canada's economy and its approach to natural resource development," said Lisa Baiton, head of the Canadian Association of Petroleum Producers. She said the group was encouraged by the tone of Liberal Leader Mark Carney and Conservative Leader Pierre Poilievre during the campaign when it came to the importance of the oil and gas industry to Canada's economy and national security. "Canada stands at a pivotal moment in its history — caught in a trade war with our closest trading partner and facing direct challenges to our sovereignty from the president of the United States. With the global economic uncertainty being caused by actions in the United States, Canada has an opportunity to stand out as a stable, trusted trading partner," she said. Mark Scholz, who leads the Canadian Association of Energy Contractors, said he's optimistic the industry will have a better rapport with Carney than with his predecessor, former prime minister Justin Trudeau. "I think that the prime minister has tried to distance himself from the really dark period of the Trudeau administration. It was a government that did not have a very good relationship with the industry. The industry didn't trust them," he said. "So he has a huge opportunity to unite the country." Tristan Goodman, who leads the Explorers and Producers Association of Canada, said he's hopeful Carney's economic chops will be reflected in his party's policies. Carney previously headed up central banks in Canada and the United Kingdom. Carney said his party would streamline project reviews, but keep the industrial carbon levy, emissions cap and review legislation. He took a positive tone toward the sector during the campaign, Goodman said, but "there's also skepticism" on the part of industry. "Hopefully that constructive language will move into tangible action that can actually meet all these expectations of growing the energy business while also addressing climate issues and increasing the opportunities for Indigenous Nations and Indigenous Canadians." Shortly before the campaign began, 14 oil and gas top executives wrote an open letter to the federal party leaders arguing unspecified emergency powers should be invoked to speed along infrastructure projects deemed in the 'national interest.' The executives called for a simplification of regulation and a commitment to firm six-month deadlines for project approvals. They also urged the elimination of the federal government's cap on emissions, the repeal of the federal carbon levy on large emitters and loan guarantees to help Indigenous co-investment opportunities. Poilievre promised during the campaign that if his party won, it would do everything on the oil and gas bosses' wish list. The leader of clean-energy think tank Pembina Institute said the election came at a pivotal moment for Canada's economic resilience and energy security — and electrification is the way to get there. The institute is calling for the build-out of a national electricity grid powered by clean energy, expanding Canada's electric vehicle charging network, funding home efficiency upgrades and other measures. 'This government — and everyone in Canada — has an opportunity to choose a pathway to long-term financial stability, secured global leadership and increased well-being for all. This pathway is rooted in clean energy," said Chris Severson-Baker. Tim Gray, with Environmental Defence, cautioned Carney against spending public money on pipelines or support for fossil fuels. "We trust that Mr. Carney knows full well that Canada's economic future will be best secured by focusing on where the global energy system is going, not where it has been." Climate Action Network's Caroline Brouillette noted Carney's past work on tackling global greenhouse gas emissions — he served as the United Nations special envoy for climate action and finance. She said Carney should "practise what he has preached" for years. "That requires picking a lane with regard to energy: no more flirting with fossil fuel expansion and new pipelines, which would come with staggering costs to our wallets and our planet," she said. "Instead, the new federal government must focus its attention on building a renewable-powered electricity grid as the backbone of a new economy in line with Canadian values.' Lance Mortlock, managing partner for industrials and energy at EY Canada, said it's a mixed picture. "I think Mark Carney understands the importance of leading for every Canadian," he said. "He's well equipped to navigate the economy and has led through a crisis before." On the downside, Mortlock said a minority parliament raises the spectre of "legislative gridlock" and national unity issues may arise with the stridently pro-development Alberta government. "Probably what I'm most concerned about is our growing regulatory burden and I think it continues to hold us back." Mortlock said Carney may find himself walking a tightrope. "Will he strike the right balance between unleashing the Canadian economy and remaining true to his green values?" asked Mortlock. "That remains to be seen."
Global News
29-04-2025
- Business
- Global News
Energy, environmental groups strike hopeful tone after Liberal federal election win
Energy industry groups and environmental advocates were striking a hopeful note a day after voters returned the Liberals to power in Ottawa. 'A new federal government offers an opportunity to rejuvenate Canada's economy and its approach to natural resource development,' said Lisa Baiton, head of the Canadian Association of Petroleum Producers. She said the group was encouraged by the tone of Liberal Leader Mark Carney and Conservative Leader Pierre Poilievre during the campaign when it came to the importance of the oil and gas industry to Canada's economy and national security. 'Canada stands at a pivotal moment in its history — caught in a trade war with our closest trading partner and facing direct challenges to our sovereignty from the president of the United States. With the global economic uncertainty being caused by actions in the United States, Canada has an opportunity to stand out as a stable, trusted trading partner,' she said. Story continues below advertisement 4:23 Liberals will develop clean, conventional energy for a self-sustaining Canada if re-elected: Carney Tristan Goodman, who leads the Explorers and Producers Association of Canada, said he's hopeful Carney's economic chops will be reflected in his party's policies. Carney previously headed up central banks in Canada and the United Kingdom. Get weekly money news Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday. Sign up for weekly money newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Carney said his party would streamline project reviews, but keep the industrial carbon levy, emissions cap and review legislation. He took a positive tone toward the sector during the campaign, but Goodman said 'there's also skepticism' on the part of industry. 'Most of the energy industry will really focus on what his … government actions are compared to just the language, but it is constructive,' he said. 'Hopefully that constructive language will move into tangible action that can actually meet all these expectations of growing the energy business while also addressing climate issues and increasing the opportunities for Indigenous Nations and Indigenous Canadians.' Story continues below advertisement The head of the Canadian Association of Energy Contractors said the election marked a 'defining shift' for the energy sector. 'Canadians spoke clearly: the debate is no longer whether to develop our natural resources, but how swiftly and boldly we can advance,' said Mark Scholz. 'Both leading parties recognized the urgent need to expand oil and gas development, secure Canada's energy and economic strength and build critical infrastructure to counter rising global uncertainty and protectionism from our largest trading partner, the United States.' The group said Canada must immediately expand infrastructure projects and eliminate the federal cap on emissions. The association also called for the government to scrap so-called 'greenwashing' legislation that limits how companies publicize their environmental performance and fast-track Indigenous participation in energy projects. Shortly before the campaign began, 14 oil and gas top executives wrote an open letter to the federal party leaders laying out what they believe needs to be done to strengthen Canada's sovereignty. They said unspecified emergency powers should be invoked to speed along infrastructure projects deemed in the 'national interest.' The executives called for a simplification of regulation and a commitment to firm six-month deadlines for project approvals. They also urged the elimination of the federal government's cap on emissions, the repeal of the federal carbon levy on large emitters and loan guarantees to help Indigenous co-investment opportunities. Story continues below advertisement Poilievre promised during the campaign if his party won, it would do everything on the oil and gas bosses' wish list. 2:42 Carney, premiers pledge to start work on national energy and trade corridor The leader of clean-energy think tank Pembina Institute said the election came at a pivotal moment for Canada's economic resilience and energy security — and electrification is the way to get there. The institute is calling for the build-out of a national electricity grid powered by clean energy, expanding Canada's electric vehicle charging network, funding home efficiency upgrades and other measures. 'This government — and everyone in Canada — has an opportunity to choose a pathway to long-term financial stability, secured global leadership and increased well-being for all. This pathway is rooted in clean energy. Tim Gray, with Environmental Defence, cautoned Carney against spending public money on pipelines or support for fossil fuels. Story continues below advertisement 'We trust that Mr. Carney knows full well that Canada's economic future will be best secured by focusing on where the global energy system is going, not where it has been.
Toronto Star
29-04-2025
- Business
- Toronto Star
Energy, environmental groups strike hopeful tone after Liberal federal election win
CALGARY - Energy industry groups and environmental advocates were striking a hopeful note a day after voters returned the Liberals to power in Ottawa. 'A new federal government offers an opportunity to rejuvenate Canada's economy and its approach to natural resource development,' said Lisa Baiton, head of the Canadian Association of Petroleum Producers.
