Weak oil and gas investment still plagues Canada

While oil and gas investment has grown substantially in other parts of the world, Canada has failed to keep pace

Weak oil and gas investment still plagues CanadaBy Mark Milke and Lennie Kaplan Canadian Energy Centre Over the past decade, one oft-heard claim is that oil and gas is a ‘sunset’ industry, where investment in Canada can be expected to decline given a worldwide flight from oil and investment. However, international data (available from 2009 to 2017) show no such worldwide flight…

Restart Canada’s economic engine with oil and gas

We can get Canadians back to work by leveraging the sector’s leadership in environmental protection and its export potential

Restart Canada’s economic engine with oil and gas“The country isn’t going to recover unless the oil and gas sector recovers.” These words from federal Natural Resources Minister Seamus O’Regan made headlines and highlight the importance of Canada’s largest industry. The reality is that natural gas and oil play an unarguable role in the national economy. Natural gas and oil are Canada’s biggest…

Oil industry not dead yet despite disruptions

But a true recovery in oil prices will require an economic recovery, whose timing remains unclear

Oil industry not dead yet despite disruptionsWhile there’s certainly carnage and woe in the oil and natural gas sectors at the moment, reports of the death of the industry are exaggerated. Many climate change activists and their sympathizers have been cheered by the dramatic drop in oil prices that coincided with, and were partly caused by, the COVID-19 pandemic. Prominent among…

Killing resource projects hurts Indigenous communities

For economic reconciliation with Indigenous communities, we need consistent and stable policies for the resource sector

Killing resource projects hurts Indigenous communitiesThe decision by Teck Resources to withdraw its application for the Frontier oil sands project could risk future opportunities for Indigenous communities if it leads to more resource companies declining to invest in Canadian resource projects. Although Teck stated officially that the decision to withdraw was prompted by controversies surrounding Canada’s climate policies, Teck’s decision…

Laurentian regime seems intent on alienating Alberta

The federal government has tried to extort political gain from Alberta in exchange for approval of projects, while pushing job-killing policies

Laurentian regime seems intent on alienating AlbertaAlbertans didn’t need to hold their breath for Ottawa’s approval of the Frontier oil sands mine. Reports of massive opposition within the Liberal Party caucus and rumours of an appeasing economic aid package for the province were strong indicators that the federal cabinet had no intention of approving the Frontier mine in northern Alberta. In…

Make Frontier the cleanest oil sands project it can be

Allowing the project to proceed – responsibly, with best available environmental practices – really is in the national interest.

Make Frontier the cleanest oil sands project it can beTo say the Teck Resources’ Frontier oil sands debate is fraught has become a bit of an understatement. At times, it appears the fate of the world hangs in the balance. On one side, political proponents are telling us that the very future of Alberta’s economy hinges on this project moving ahead. On the other…

Canada missing out on shale revolution

Shale-gas policy changes, followed by investments across the country, would turn Canada into an international leader in the transition towards clean energy

Canada missing out on shale revolution“It takes real skill to derail an industry where Canada has so many competitive advantages,” writes Rick Rule regarding energy markets. The chief executive of Sprott US Holdings, a natural-resource brokerage, says the barrier is politics, while Canadian firms, technology and geology are top tier. Fortunately, policy can change and Canada can lead clean-energy production.…

Oil sands driving Canadian energy-related R&D

Fossil fuel technologies were the main driver of energy-related in-house R&D spending in 2017, accounting for almost half of the money spent

Oil sands driving Canadian energy-related R&DCanadian companies spent $1.5 billion on energy-related in-house research and development (R&D) in 2017, says Statistics Canada. That accounted for 8.3 per cent of the total in-house R&D expenditure in Canada, but was still down 4.6 per cent from 2016. Energy-related areas of technology include fossil fuels, renewable energy sources, nuclear fission and fusion, electric…

Canada not reaching full potential for crude oil production

An ongoing lack of pipeline capacity has restricted the growth of Canadian crude production: ATB

Canada not reaching full potential for crude oil productionUnlike in the U.S., Canada has not been able to reach its full potential when it comes to crude oil production, says ATB Financial’s economics and research team. In its daily economic update The Owl, the financial institution said the U.S. shale oil revolution made possible by horizontal drilling and hydraulic fracturing pushed U.S. field…

Cenovus reaches one billion barrels of oil sands production

Company says its two facilities have created thousands of jobs and contributed over $25 billion in capital spending to the Canadian economy

Cenovus reaches one billion barrels of oil sands productionCalgary-based Cenovus says it has reached a significant milestone with one billion barrels of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta. It said it’s the first company to produce one billion barrels of oil using steam-assisted gravity drainage (SAGD) technology. “This incredible achievement for Cenovus represents over…

Oil sands production to near four million barrels a day by 2030

IHS Markit report projects slower pace of investment and growth in Canadian projects

Oil sands production to near four million barrels a day by 2030Canadian oil sands productions is expected to reach nearly four million barrels a day by 2030, or almost one million barrels more than today, according to a new 10-year production forecast by IHS Markit. But the business information provider also says production is set to enter a period of slower annual growth. “Large-scale oil sands…

Report says oil prices expected to rise

Prices will improve because of increased demand from U.S. refineries, improving transportation capacity and mandatory productions cuts in Alberta

Report says oil prices expected to riseThe oilpatch in Alberta has had a tough go of it since oil prices collapsed in the latter part of 2014. But on Tuesday there was some good news from a new report released by Deloitte’s Resource and Advisory Group. It forecasts prices for Canadian heavy and light oil to improve somewhat in 2019 because…

U.S. imports of Canadian heavy crude oil continues to grow

U.S. is by far the world’s largest refining market for heavy oil, processing more than half of all that type of crude globally in 2018

U.S. imports of Canadian heavy crude oil continues to growA new report released on Tuesday by IHS Markit says imports of Canadian heavy crude are an increasingly important source of supply to the United States, the world’s largest refining market for such crudes. The report, Looking North: A U.S. Perspective on Canadian Heavy Oil, said U.S. imports of Canadian heavy crudes will approach 2.8…

What’s going on with oil prices in Alberta?

Industry expert Richard Masson explains how supply and demand balance dramatically impacts oil pricing

What’s going on with oil prices in Alberta?Trying to understand the critical situation Alberta faces with current oil prices is daunting for most people, especially if they’re not directly involved with the oilpatch. So Calgary’s Business decided to make some sense out of this confusing scenario and sought the expertise of one of the country’s top experts in the field to explain…

Imperial Oil developing $2.6-billion Alberta oil sands project

Project will include the first major commercial application of technology to lower greenhouse gas emissions and water use

Imperial Oil developing $2.6-billion Alberta oil sands projectImperial Oil says it’s proceeding with the development of its $2.6-billion Aspen oil sands project, about 45 kilometres northeast of Fort McMurray. The company said the project, which is expected to produce about 75,000 barrels of bitumen per day, will include the first major commercial application of next-generation oil sands recovery technology. The technology is…