Environment Archives - Page 3 of 7

Oil and Gas royalties, unpaid municipal taxes, and unaddressed reclamation

17Apr

By Bob AscahNo Comments

Agencies, Budget, Energy, Environment, Opinion/Research

Oil and Gas royalties, unpaid municipal taxes, and unaddressed reclamation

In June 2022, Alberta’s then Energy Minister Sonya Savage, a former executive with the Canadian Energy Pipelines Association, warned the federal government not to consider a tax on windfall profits of the energy industry. When asked about the oil industry’s record cash flows and remediation liabilities, Savage stated: “The current spike in oil prices isn’t enough reason to require the industry to spend more on cleaning up the tens of thousands of abandoned oil and gas wells in the province.” In reflecting on this statement, it suggests that expanded spending by Alberta’ producers on remediation expenses might imply royalty payments to Alberta might fall. In short, the province may have a short-term financial interest in not losing revenue when reclamation spending increases. This cont...

28Mar

By Bob AscahNo Comments

Budget, Energy, Environment, Government Finances, Health, Opinion/Research, Politics

Solutions-based policy development and Some Modest Recommendations

There are major issues confronting Alberta- a massive understatement if there ever was! As a student, practitioner, and teacher of public policy for over 40 years, the following ideas are in a germination phase and readers are encouraged to comment and add their suggestions on the central germ of this idea. A solutions-based approach to government policy-making offers a means of identifying a small number of “problems” which require immediate attention and on which there is a consensus on the need for action. This approach starts with Problem identification. The government’s prerogative, but our current government arguably sees things much differently than a majority of Albertans- (e.g. the visceral hate of the federal government as represented by Mr. Trudeau.) In this blogpost, I set o...

<strong>OSFI’s new guidelines: A step toward making banks and insurers more conscious of their climate impacts</strong>

22Mar

By Bob AscahNo Comments

Banks, Energy, Environment, Intergovernmental

OSFI’s new guidelines: A step toward making banks and insurers more conscious of their climate impacts

This article of mine was published yesterday in The Conversation. Reproduced with permission from The Conversation. After an extensive consultation process, the organization that supervises banks and large insurance companies in Canada — the Office of the Superintendent of Financial Institutions (OSFI) — has released guidelines for financial institutions to address climate change. This is timely, considering banks and insurers are massive funders of the fossil fuel industry. The release of the guidelines, called the B-15, comes more than a year after a January 2022 pilot study by Canada’s central bank and OSFI on how resilient financial institutions would be under new climate policies. The study found that the creditworthiness of oilsands producers is expected to fall over the next few ...

2Mar

By Bob AscahNo Comments

Employment, Energy, Environment, Opinion/Research, Politics

Sustainable Jobs- An Interim Plan plus Pathways pitch

“The budget and the economy bill are replete with folly and injustice. It is a tragedy that the moral energies and enthusiasm of many truly self-sacrificing and well wishing people should be so misdirected.” John Maynard Keynes, Essays in Persuasion, “The Economy Bill, “19 September 1931 at page 145. On 17 February Natural Resources Canada’s minister Jonathan Wilkinson led the release of an “interim” Sustainable Jobs Plan (ISJP), The news release begins: Canada has what it takes to be a clean energy and technology supplier of choice in a net-zero world….to secure and create jobs, to grow our industries, and to lead the world with the resources and technologies it will need for generations to come. A chicken in every pot is proposed- “highly skilled and dedicated workers, abundant nat...

Breaking News- Premier Smith’s delivers ultimatum to Trudeau

16Feb

By Bob AscahNo Comments

Energy, Environment, Opinion/Research, Politics

Breaking News- Premier Smith’s delivers ultimatum to Trudeau

Letter from Premier Smith to Prime Minister Trudeau February 16, 2023 Media inquiries Premier Danielle Smith invites Ottawa to collaborate with Alberta on carbon capture, utilization and storage investment and halt introduction of Just Transition legislation and oil and gas emissions cap. Dear Prime Minister: I am writing in follow up to our meeting of February 7th, during which we discussed the need for the Government of Canada to halt introduction of the proposed Just Transition legislation and implementation of unachievable targets and measures under the federal Emissions Reduction Plan (ERP) such as the Clean Electricity Regulations (CER) and oil and gas sector emissions cap. As a much more productive alternative, I invited your government to agree to commencing a collaborative ef...

Budgetary advice from UofC and the Fraser Institute – cross-examined

15Feb

By Bob AscahNo Comments

Budget, Energy, Environment, Opinion/Research, Politics

Budgetary advice from UofC and the Fraser Institute – cross-examined

“Don’t Spend Away the Windfall: Better Options for Alberta’s Unexpected Revenues,” written by Jack M. Mintz, Trevor Tombe, Joel Emes, and Tegan Hill is timely asit arrives a few weeks before the provincial budget (28 February). This contribution, combining the right leaning Fraser Institute and two well-known University of Calgary economists offers three approaches for considering the windfall by Alberta’s finance minister Travis Toews. The paper’s moralistic title suggests politicians are not to be trusted with windfalls At this moment, we are also awaiting the report of Todd Hirsch who was engaged by the Alberta NDP to study “how an NDP government can stabilize the province’s finances and build a more resilient economy.” His mandate has been interpreted as what to do with the windfall b...

30Jan

By Bob AscahNo Comments

Energy, Environment, Intergovernmental, Politics

Smith to Trudeau- Olive branch or iron fist in a velvet glove?

Last Thursday, Premier Danielle Smith wrote Prime Minister Trudeau about the “just transition” legislation that the Liberal government will introduce this year. At first blush this letter was seen as an “olive branch”. In Smith’s words:- We can continue with the endless court challenges, legislation to protect jurisdictional rights and inflammatory media coverage over our disagreements, or, as is my strong preference, Alberta and Ottawa can work in partnership on a plan that will signal to all Canadians and investors from around the world that our governments have cooperatively designed a series of incentives and initiatives intended to achieve the following objectives The attempt to dial down the rhetoric may be her government’s response to internal party polling that indicates fights ...

30Jan

By Bob Ascah2 Comments

Bankruptcies, Banks, Employment, Energy, Environment, Politics, Uncategorized

Smith as CEO Alberta Enterprise Group to Savage: 29 July 2021- “RStar”

Below is the full text of the letter from then AEG President Danielle Smith to then Energy Minister Sonya Savage concerning a proposed royalty credit for legally required environmental remediation. Analysis of letter is below. ALBERTA ENTERPRISE GROUP 11626-119 Street Edmonton, AB T5G 2X7 July 29, 2021 Minister Sonya Savage Minister of Energy 394 Legislature Building 10800-97 Avenue Edmonton, AB T5K 2B6 Dear Minister Savage: It was a pleasure meeting with you to discuss a pilot project this fall, to test out the RStar program as a new approach to address the issue of decommissioning and closing inactive wells. I would like to summarize our conversation as you are working with your department officials to understand why this pilot project is so important to our membe...

2Jan

By Bob AscahNo Comments

Environment, Politics

Issues to follow in 2023- Analysis and Opinion- Part 1

Report by Todd Hirsch for NDP on windfall. In October former ATB Financial Todd Hirsch was given a mandate by NDP leader Rachel Notley to study what to do with windfall revenues received by the province’s treasury. Hirsch was a consummate pick of Notley. (Full disclosure- I hired Todd as ATB's first economist through a lengthy process which I won't bore you with.) Hirsch was ATB’s chief economist for 15 years and knows the province’s economy inside and out. Hirsch’s persona, excellent speaking raves and travelling to ever part of the province speaking and learning about Alberta’s economy will build enormous economic credibility which the NDP hopes to “capitalize” on. There are only so many financial alternatives to parceling out a budget surplus: 1) pay down debt, 2) spend the money, o...

A Nod to Independence- Alberta Sovereignty (within a United Canada) Act

12Dec

By Bob AscahNo Comments

Energy, Environment, Investment, Opinion/Research, Politics

A Nod to Independence- Alberta Sovereignty (within a United Canada) Act

Much ink, digital and audio content has been accumulated in the nearly two weeks that has elapsed from the Throne Speech and introduction of Bill 1. the Alberta Sovereignty Within a United Canada Act (ASWUCA) became live. Pundits, learned professors, business people and the loyal opposition have weighed in. The reviews have been rather negative for the most part with much of the criticism aimed at the Henry VIII clauses embedded in the Bill. I walk through the main portions of Bill 1 offering comments and opinions. From what Premier Smith tells us she is open to changes. These changes came a week later after heavy criticism from many quarters including the Calgary Chamber of Commerce. At the end of the day, the Act may have all the huffing and puffing that went into the equalization r...