Energy Archives - Page 6 of 6

1Mar

By Bob AscahNo Comments

Energy, Energy, Environment, Investment, Politics

Teck withdraws from Frontier

Teck's withdrawal signifies a major turning point in the struggle between forces opposing a fundamental shift in the use of fossil fuels and governments and industries resisting a transition. The company's signalling that Teck would have to write off $1.l billion of its spending on the Frontier project, foreshadowed the difficult corporate decision. The immediate political fallout: in Ottawa a sigh of relief. In Alberta: instant anger but also a slow realization, a coming to terms that the "last boom" was indeed the last boom. It is now time for the adults in the room to come to terms with a new tomorrow. It will be especially painful for the Kenney government which had placed so much attention on the project, demanding "Ottawa" approve the project. But the tone was irrelevan...

12Feb

By Bob AscahNo Comments

Energy, Energy, Opinion/Research

Teck-Frontier -Opinion

There are alternatives to Teck-Frontier I have not witnessed this level of political intemperance in Alberta since I was a graduate student at the University of Alberta in 1980. I am alarmed and deeply disturbed with the nasty rhetoric that has been displayed recently by the Alberta government – notably the statement by Jason Nixon, the Environment and Parks Minister. At issue is the impending decision by the federal government on the Teck-Frontier project. Proponents of the project stress the project will create 7,000 jobs during construction and up to 2,500 workers during operation. The project, which has been under review for ten years, is estimated to deliver $70 billion in taxes over 40 years of production and billions of dollars in spin off activity. There is no doubt that it i...

3Feb

By Bob AscahNo Comments

Energy, Energy, Fiscal History

Syncrude Royalties- Hyndman’s papers

In the mid-1970s, major efforts were made by the Alberta government to support the expansion of oilsands production. Up until this time, Great Canadian Oil Sands (GCOS), operated by Sunoco, was the only source of commercial bitumen. With the rapid increase of oil prices in 1973, the provincial government encouraged the development of a consortium involving private and public funds. Construction began in 1973 and production commenced in 1978. Between February 1975 to March 1980, the Alberta government had cumulatively advanced $281.8 million to the project of a total cost of $2.875 billion. Prior to 10 March 1980, the Province sold some of its interest to Alberta Energy Company for $54.9 million and had received cash receipts of $48.1 million from the sale of its entitlement of syntheti...

Energy Wars in the 1970s- Hyndman’s files

26Nov

By Bob AscahNo Comments

Energy, Government Finances, Intergovernmental, Uncategorized

Energy Wars in the 1970s- Hyndman’s files

Two more excerpts from the files of the late Lou Hyndman come from the mid 1970s. The disputes being addressed by senior political leaders followed soon after the OPEC oil embargo. The conflict which emerged between Ottawa and the consuming provinces (e.g. Ontario) and Alberta involved a bitter fight over which order of government would collect the lion's share of the rapid increase in the world price of oil. The first excerpt is from a speech given by the then Treasurer, Gordon Miniely at a finance ministers' conference. The second extract is from a speech, presumably authored, by J.Peter Meekison, a special intergovernmental affairs advisor and then deputy minister of Alberta's Federal and Intergovernmental Affairs department dated in December 1974. The speech is significant as i...

A “fair deal” for Alberta? Historical Perspectives

11Nov

By Bob AscahNo Comments

Energy, Politics

A “fair deal” for Alberta? Historical Perspectives

On Saturday, 10 November, Premier Jason Kenney spoke to the Manning Centre “What’s Next?” Conference in Red Deer. His one-hour, five-minute speech was a spirited lament for the manifest unfairness directed towards Alberta in confederation. His speech recounted the long litany of indifference from the federal government and grievances dating back to Alberta and Saskatchewan's entry into the federation. In his speech, he stressed the immediate need for his administration to exercise leverage on the federal government. At the end of the speech, he identified a number of "demands" to the federal government including an "equalization" (sic) payment of $1.6 billion and tax credits to help Alberta companies to address orphan wells. Numerous grievancs were cited: senate reform, equalization, A...

26Sep

By Bob AscahNo Comments

Energy

TRANS MOUNTAIN- THE FEDERAL COURT WEIGHS IN

Originally posted 25 September 2018 SUMMARY Options remain Implications Chart of parties to court action Excerpts from decision Links to previous posts While the majority decision of Federal Court of Appeal Justice Eleanor Dawson threw a curve into the plans of Justin Trudeau and Rachel Notley, recent commentary suggest there may be a way out. Federal Court of Appeal decision (more…)

5Sep

By albertarecessionwatchNo Comments

Budget, Energy

Weak Land Tenure Sales Persist

Originally posted 6 September 2016 Sales of oil sands leases since 1 April, the start of the Province`s fiscal year have been weak. As the table below illustrates, except for the June sale, interest has been weak. Land sales remain important as a leading indicator of future energy investment. Public Sales Results- Oilsands Date Bonus Hectares $/HA 11-May 61,690.63 5,169.89 11.93 25-May 3,717.12 1,024.00 3.63 22-Jun 11,170,378.05 28,039.00 398.39 06-Jul 150,192.64 1,280.00 117.34 03-Aug 170,923.52 3,264.00 52.37 Totals 11,556,901.96 38,776.89 298.0358136 The charts following are taken from the Department of Energy`s webpage disclosing its Petroleum and Natural Gas Sales Statistics. The historical data prov...

12Jul

By albertarecessionwatchNo Comments

Energy

Originally posted 12 July 2016 Energy drives politics in Alberta. Since the early days of the twentieth century when natural gas (1911) and oil (1914) was discovered in the Turner Valley, the politics of Alberta have been influenced by the growing wealth of the oil and gas sector. Three pillars of the Calgary establishment- Sir James Lougheed, R.B. Bennett and W.H. McLaws - created the Calgary Stock Exchange in 1913. Like so many Alberta financial stories, the stock exchange grew by leaps and bounds until its building was foreclosed upon. While Alberta's premiers have not come directly from the oil patch, premiers ignore the oil patch at their peril. (more…)