Latest news with #KeystoneXL
Toronto Sun
5 days ago
- Business
- Toronto Sun
FINLAYSON: Canada could help supply world's growing demand for energy including oil and gas
In this Dec. 18, 2020 photo, pipes to be used for the Keystone XL pipeline are stored in a field near Dorchester, Neb. Photo by Chris Machian / AP Spend time on the websites of Canada's leading environmental non-governmental organizations (ENGOs) and you will see repeated references to the 'energy transition' — the shift away from fossil-fuel energy sources to no- and low-carbon alternatives, to help lower the greenhouse gas (GHG) emissions that lie behind concerns over climate change. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account While most countries — albeit not Donald Trump's America — notionally support the 2015 Paris Agreement goal to limit global temperature increases to between 1.5 and 2.0 degrees Celsius, few are on track to slash their emissions sufficiently to reach that target. Indeed, emissions are still climbing, mainly due to the ravenous appetite for energy in many emerging economies. Notwithstanding decades of climate change conferences, humanity remains firmly wedded to fossil fuels, which currently supply about four-fifths of global primary energy demand — a share that has fallen only slightly since the late-1990s. Moreover, as Canadian energy scholar Vaclav Smil recently noted, the absolute quantity of fossil fuels consumed by the world has risen by more than half since 1997 . Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Stupendous amounts of energy are needed to provide electric power, for heating and cooling, transportation and agriculture, and to support many industrial processes. Today, fossil fuels are ubiquitous in all these areas. Only in the case of electricity have we observed a quantitatively significant move away from fossil fuel energy. A glance at recent energy supply/demand projections highlights the dominant role of fossil fuels in the world's energy system. The latest global outlook from multinational giant Shell is a good example. According to Shell's 2025 baseline forecast, worldwide demand for energy 'will continue to increase as the global population grows and living standards rise.' By 2050, energy demand 'could be nearly a quarter higher than in 2024 depending on economic growth rates, energy efficiency gains and the pace of electrification.' This advertisement has not loaded yet, but your article continues below. Global oil demand is expected to grow by another 3-5 million barrels per day into the mid-2030s, confounding earlier forecasts of imminent 'peak oil' consumption. Shell notes that 'petroleum fuels remain affordable and convenient in transport, particularly in long-distance haulage, aviation and marine.' Oil also remains crucial to the petrochemicals sector. Meanwhile, natural gas use is set to increase into the 2040s at least, with liquefied natural gas (LNG) representing a steadily rising share of the total natural gas market. Natural gas is a principal source of 'industrial heat, fuel for power generation and heat for buildings.' It's also critical to 'helping the world move away from coal.' Significant investments in oil and gas exploration, production, infrastructure and downstream processing 'will be required for decades to come.' So much for the argument of Canadian environmental activists that it's time to starve the oil and gas business of capital. This advertisement has not loaded yet, but your article continues below. What are the implications of all of this for Canada? We are endowed with an almost unmatched abundance of energy riches, notably the world's third-largest oil reserves and vast amounts of natural gas. Canada is also a global leader in producing electricity from carbon-free sources. And energy plays an outsized role in our economy, directly accounting for one-tenth of GDP and supplying roughly a quarter of the country's merchandise exports. As a major energy producer, Canada has well-respected environmental standards and rigorous project approval and permitting processes. These are a long-term competitive advantage. Even as efforts continue to reduce the carbon intensity of energy use and expand renewable power capacity, a growing world will need prodigious quantities of energy including oil and gas. Canada is well-placed to help meet it. — Jock Finlayson is a senior fellow at the Fraser Institute. Toronto & GTA Other Sports Ontario Soccer Golf
Toronto Star
13-05-2025
- Business
- Toronto Star
Carney needs to ‘pick a lane' on climate priorities and energy boost, activist says
OTTAWA - Climate activists and energy leaders say Prime Minister Mark Carney will need to make some hard choices on whether to bolster the country's oil and gas sector as means of achieving economic stability. Throughout the election campaign, Carney signalled an openness to building more pipelines in Canada and promised to cut approval times to get projects built faster. He also acknowledged during the English leaders' debate that having western Canadian oil flow through the United States to Ontario and Quebec presents a national security threat. But he also has said he wants to keep Canada's emissions cap on oil and gas production in place, and to strengthen the industrial carbon price — policies the oil and gas sector has called on him to scrap. ARTICLE CONTINUES BELOW Carney also campaigned on making Canada a 'world leader' in carbon capture and introducing investment tax credits to support clean energy and technology. While Carney said before the campaign he would keep the emissions cap in place, Alberta Premier Danielle Smith has said the prime minister told her behind closed doors that he wasn't in favour of hard caps. 'We've heard Mr. Carney, in particular during the election campaign, adopt an 'all of the above' approach to energy and refusing to pick a lane between a cleaner, safer, renewable powered future and doubling down on the volatile fossil fuel status quo,' said Caroline Brouillette, executive director of Climate Action Network. 'I think that in 2025 we don't have the luxury of not picking a lane, both from an environmental side of things but also from an economic side of things.' And Carney doesn't have the luxury of time either, said Adam Waterous, chairman of oil and gas producer Strathcona Resources. With the auto, steel and aluminum sectors reeling from U.S. President Donald Trump's tariffs, he said, Carney's most powerful bargaining chip is Canada's energy. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW 'Donald Trump has been very, very consistent for nine years. He ran on this originally, and now he wants one thing from Canada. And it's not fentanyl and illegal immigration, that's a head-fake. He wants an agreement to build Keystone XL,' Waterous said. The Keystone XL project — a 1,900-kilometre pipeline that would have run from Hardisty, Alta., to the major U.S. crude storage hub at Cushing, Okla., and then on to Gulf Coast refineries — was first proposed during the Obama administration, which rejected it on environmental grounds. It was then revived under the first Trump administration before then-president Joe Biden killed it again by revoking the pipeline's permit on his first day in the White House in 2021. At that point, the project's proponent TC mothballed the project. Posting on his Truth Social account back in February, Trump called for the project to be resuscitated. 'Now, the industry doesn't want to build that,' Waterous said, adding the sector wants an east-west pipeline in order to diversify Canada's oil and gas exports and reach overseas markets. Oil and gas leaders laid out five demands in a letter to Carney shortly after the election. They called on him to, among other things, scrap the emissions cap regulations and repeal industrial carbon pricing. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW The federal government could pursue the Keystone project on its own, Waterous said — but that could present a different roadblock. 'The United States will not enter into an agreement with a state-owned enterprise because it is considered a non-tariff trade barrier as a subsidized entity. It has to be a private sector party,' Waterous said. But the project would be unlikely to get a private backer, he said, because 'the energy sector doesn't want to do this. They want to go east-west.' 'The energy private sector would be doing this to shelter auto, steel and aluminum. So you see the irony in this dynamic.' — With files from Lauren Krugel in Calgary. This report by The Canadian Press was first published May 12, 2025. Politics Headlines Newsletter Get the latest news and unmatched insights in your inbox every evening Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. Please enter a valid email address. Sign Up Yes, I'd also like to receive customized content suggestions and promotional messages from the Star. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy. This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Politics Headlines Newsletter You're signed up! You'll start getting Politics Headlines in your inbox soon. Want more of the latest from us? Sign up for more at our newsletter page.
Global News
12-05-2025
- Business
- Global News
Carney must ‘pick a lane' on climate, energy policies, advocates say
Climate activists and energy leaders say Prime Minister Mark Carney will need to make some hard choices on whether to bolster the country's oil and gas sector as means of achieving economic stability. Throughout the election campaign, Carney signalled an openness to building more pipelines in Canada and promised to cut approval times to get projects built faster. He also acknowledged during the English leaders' debate that having western Canadian oil flow through the United States to Ontario and Quebec presents a national security threat. But he also has said he wants to keep Canada's emissions cap on oil and gas production in place, and to strengthen the industrial carbon price — policies the oil and gas sector has called on him to scrap. Carney also campaigned on making Canada a 'world leader' in carbon capture and introducing investment tax credits to support clean energy and technology. Story continues below advertisement While Carney said before the campaign he would keep the emissions cap in place, Alberta Premier Danielle Smith has said the prime minister told her behind closed doors that he wasn't in favour of hard caps. 'We've heard Mr. Carney, in particular during the election campaign, adopt an 'all of the above' approach to energy and refusing to pick a lane between a cleaner, safer, renewable powered future and doubling down on the volatile fossil fuel status quo,' said Caroline Brouillette, executive director of Climate Action Network. 'I think that in 2025 we don't have the luxury of not picking a lane, both from an environmental side of things but also from an economic side of things.' 1:44 How the Liberal minority government could complicate Carney's energy policy And Carney doesn't have the luxury of time either, said Adam Waterous, chairman of oil and gas producer Strathcona Resources. Story continues below advertisement With the auto, steel and aluminum sectors reeling from U.S. President Donald Trump's tariffs, he said, Carney's most powerful bargaining chip is Canada's energy. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Donald Trump has been very, very consistent for nine years. He ran on this originally, and now he wants one thing from Canada. And it's not fentanyl and illegal immigration, that's a head-fake. He wants an agreement to build Keystone XL,' Waterous said. The Keystone XL project — a 1,900-kilometre pipeline that would have run from Hardisty, Alta., to the major U.S. crude storage hub at Cushing, Okla., and then on to Gulf Coast refineries — was first proposed during the Obama administration, which rejected it on environmental grounds. It was then revived under the first Trump administration before then-president Joe Biden killed it again by revoking the pipeline's permit on his first day in the White House in 2021. At that point, the project's proponent TC mothballed the project. Posting on his Truth Social account back in February, Trump called for the project to be resuscitated. 'Now, the industry doesn't want to build that,' Waterous said, adding the sector wants an east-west pipeline in order to diversify Canada's oil and gas exports and reach overseas markets. 1:42 Canadians could vote on other issues, but 'end up with climate policies they don't like' expert warns Oil and gas leaders laid out five demands in a letter to Carney shortly after the election. They called on him to, among other things, scrap the emissions cap regulations and repeal industrial carbon pricing. Story continues below advertisement The federal government could pursue the Keystone project on its own, Waterous said — but that could present a different roadblock. 'The United States will not enter into an agreement with a state-owned enterprise because it is considered a non-tariff trade barrier as a subsidized entity. It has to be a private sector party,' Waterous said. But the project would be unlikely to get a private backer, he said, because 'the energy sector doesn't want to do this. They want to go east-west.' 'The energy private sector would be doing this to shelter auto, steel and aluminum. So you see the irony in this dynamic.' —With files from Lauren Krugel in Calgary.
Hamilton Spectator
12-05-2025
- Business
- Hamilton Spectator
Carney needs to ‘pick a lane' on climate priorities and energy boost, activist says
OTTAWA - Climate activists and energy leaders say Prime Minister Mark Carney will need to make some hard choices on whether to bolster the country's oil and gas sector as means of achieving economic stability. Throughout the election campaign, Carney signalled an openness to building more pipelines in Canada and promised to cut approval times to get projects built faster. He also acknowledged during the English leaders' debate that having western Canadian oil flow through the United States to Ontario and Quebec presents a national security threat. But he also has said he wants to keep Canada's emissions cap on oil and gas production in place, and to strengthen the industrial carbon price — policies the oil and gas sector has called on him to scrap. Carney also campaigned on making Canada a 'world leader' in carbon capture and introducing investment tax credits to support clean energy and technology. While Carney said before the campaign he would keep the emissions cap in place, Alberta Premier Danielle Smith has said the prime minister told her behind closed doors that he wasn't in favour of hard caps. 'We've heard Mr. Carney, in particular during the election campaign, adopt an 'all of the above' approach to energy and refusing to pick a lane between a cleaner, safer, renewable powered future and doubling down on the volatile fossil fuel status quo,' said Caroline Brouillette, executive director of Climate Action Network. 'I think that in 2025 we don't have the luxury of not picking a lane, both from an environmental side of things but also from an economic side of things.' And Carney doesn't have the luxury of time either, said Adam Waterous, chairman of oil and gas producer Strathcona Resources. With the auto, steel and aluminum sectors reeling from U.S. President Donald Trump's tariffs, he said, Carney's most powerful bargaining chip is Canada's energy. 'Donald Trump has been very, very consistent for nine years. He ran on this originally, and now he wants one thing from Canada. And it's not fentanyl and illegal immigration, that's a head-fake. He wants an agreement to build Keystone XL,' Waterous said. The Keystone XL project — a 1,900-kilometre pipeline that would have run from Hardisty, Alta., to the major U.S. crude storage hub at Cushing, Okla., and then on to Gulf Coast refineries — was first proposed during the Obama administration, which rejected it on environmental grounds. It was then revived under the first Trump administration before then-president Joe Biden killed it again by revoking the pipeline's permit on his first day in the White House in 2021. At that point, the project's proponent TC mothballed the project. Posting on his Truth Social account back in February, Trump called for the project to be resuscitated. 'Now, the industry doesn't want to build that,' Waterous said, adding the sector wants an east-west pipeline in order to diversify Canada's oil and gas exports and reach overseas markets. Oil and gas leaders laid out five demands in a letter to Carney shortly after the election. They called on him to, among other things, scrap the emissions cap regulations and repeal industrial carbon pricing. The federal government could pursue the Keystone project on its own, Waterous said — but that could present a different roadblock. 'The United States will not enter into an agreement with a state-owned enterprise because it is considered a non-tariff trade barrier as a subsidized entity. It has to be a private sector party,' Waterous said. But the project would be unlikely to get a private backer, he said, because 'the energy sector doesn't want to do this. They want to go east-west.' 'The energy private sector would be doing this to shelter auto, steel and aluminum. So you see the irony in this dynamic.' — With files from Lauren Krugel in Calgary. This report by The Canadian Press was first published May 12, 2025.
Yahoo
12-05-2025
- Business
- Yahoo
Carney needs to 'pick a lane' on climate priorities and energy boost, activist says
OTTAWA — Climate activists and energy leaders say Prime Minister Mark Carney will need to make some hard choices on whether to bolster the country's oil and gas sector as means of achieving economic stability. Throughout the election campaign, Carney signalled an openness to building more pipelines in Canada and promised to cut approval times to get projects built faster. He also acknowledged during the English leaders' debate that having western Canadian oil flow through the United States to Ontario and Quebec presents a national security threat. But he also has said he wants to keep Canada's emissions cap on oil and gas production in place, and to strengthen the industrial carbon price — policies the oil and gas sector has called on him to scrap. Carney also campaigned on making Canada a "world leader" in carbon capture and introducing investment tax credits to support clean energy and technology. While Carney said before the campaign he would keep the emissions cap in place, Alberta Premier Danielle Smith has said the prime minister told her behind closed doors that he wasn't in favour of hard caps. 'We've heard Mr. Carney, in particular during the election campaign, adopt an 'all of the above' approach to energy and refusing to pick a lane between a cleaner, safer, renewable powered future and doubling down on the volatile fossil fuel status quo,' said Caroline Brouillette, executive director of Climate Action Network. 'I think that in 2025 we don't have the luxury of not picking a lane, both from an environmental side of things but also from an economic side of things.' And Carney doesn't have the luxury of time either, said Adam Waterous, chairman of oil and gas producer Strathcona Resources. With the auto, steel and aluminum sectors reeling from U.S. President Donald Trump's tariffs, he said, Carney's most powerful bargaining chip is Canada's energy. 'Donald Trump has been very, very consistent for nine years. He ran on this originally, and now he wants one thing from Canada. And it's not fentanyl and illegal immigration, that's a head-fake. He wants an agreement to build Keystone XL,' Waterous said. The Keystone XL project — a 1,900-kilometre pipeline that would have run from Hardisty, Alta., to the major U.S. crude storage hub at Cushing, Okla., and then on to Gulf Coast refineries — was first proposed during the Obama administration, which rejected it on environmental grounds. It was then revived under the first Trump administration before then-president Joe Biden killed it again by revoking the pipeline's permit on his first day in the White House in 2021. At that point, the project's proponent TC mothballed the project. Posting on his Truth Social account back in February, Trump called for the project to be resuscitated. 'Now, the industry doesn't want to build that,' Waterous said, adding the sector wants an east-west pipeline in order to diversify Canada's oil and gas exports and reach overseas markets. Oil and gas leaders laid out five demands in a letter to Carney shortly after the election. They called on him to, among other things, scrap the emissions cap regulations and repeal industrial carbon pricing. The federal government could pursue the Keystone project on its own, Waterous said — but that could present a different roadblock. 'The United States will not enter into an agreement with a state-owned enterprise because it is considered a non-tariff trade barrier as a subsidized entity. It has to be a private sector party,' Waterous said. But the project would be unlikely to get a private backer, he said, because "the energy sector doesn't want to do this. They want to go east-west." "The energy private sector would be doing this to shelter auto, steel and aluminum. So you see the irony in this dynamic.' — With files from Lauren Krugel in Calgary. This report by The Canadian Press was first published May 12, 2025. Nick Murray, The Canadian Press
