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Alberta

Alberta has an opportunity like never before

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4 minute read

As the world’s energy debate continues to grow, with climate change and the economy both sources of large concern to many, there is often a divide both politically and regionally and Canada is no different.

Places like Alberta, with an economy that has been largely centered around the oil and gas sector for decades, is a Canadian province quite often at odds with the Canadian government for its desire to put in place renewable energy policies like carbon taxes and hold off on pipelines.

There are abundant sources of renewable energy in Alberta that could provide jobs and a pathway out of its current situation. Despite being intermittent, Alberta’s wind and solar potential is very apparent. However, to scale it to the level necessary to stop burning massive amounts of coal and natural gas, we will need large battery backups to store power in order to combat the intermittency issues of wind and solar. 

These investments can be made, and I would argue the more the province opens up space on the grid, the more foreign investment we will see. 

But this is also a tough pill to swallow when you have companies built from the ground up for decades, employing hundreds of thousands of people who have been educated and trained in what they do. Alberta as a province enjoyed strong growth for decades, providing hundreds of billions of dollars to the Federal Government to help balance the books and provide health care for millions of Canadians. 

Geothermal is famously used in Iceland and in California at the world’s largest facility, the Geysers Geothermal Complex, which has a 1517 MW capacity. Geothermal energy has limitations for growth due to requiring locations to tap into volcanic aquifers, which it had not been able to overcome until now. Eavor Technologies Inc. uses a completely different method for their production.  They use a closed loop system and do not rely on traditional wells or pumps. They are able to drill two vertical wells, connect them together underground and essentially create a conductive radiator with many parallel lines to cover a large amount of ground without the volcanic aquifers. Their unique IP uses an environmentally safe fluid that circulates using the thermosyphon effect.  As the hot fluid rises through the outlet well, the change in pressure forces the cool fluid to drop through the inlet well, creating continuous circulation without the need for a parasitic pump. The Eavor-Loop completely isolates the fluid from the surrounding environment and produces zero GHG emissions, making the entire process carbon neutral. For extra appeal, this can all be done by the same Alberta drilling rig operators that do not get to work as much as they once did, putting oil and gas companies back to work.

This means Alberta, famous for its oil industry, has the potential to become famous for an entirely renewable grid with a mix of Eavor-Loops, solar, wind and battery storage. It also gives us the ability to grow an Alberta made technology in Eavor loop for export. This unique opportunity for economic diversification and expansion aligns simultaneously with both environmental and economic concerns, presenting a balanced approach to the climate question without compromising on existing Alberta jobs and infrastructure

Brian Scott
Clean Energy Advocate

 

For more stories, visit Todayville Calgary.

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Alberta

Markets expected to take measure of Cenovus-Husky deal as earnings season begins

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Calgary oilpatch investors are expected to take stock of a mega-merger between oilsands heavyweights Cenovus Energy Inc. and Husky Energy Inc. as stock markets open this morning.

The surprise deal announced Sunday will see Husky shareholders receive 0.7845 of a Cenovus share plus 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share.

The companies say the price, which values Husky at $3.8 billion, represents a 21 per cent premium, excluding warrants, to Husky’s five-day volume-weighted average price per share on Friday, but Cenovus CEO Alex Pourbaix said Sunday that’s more a result of recent stock market volatility than intent.

Cenovus shareholders would own about 61 per cent of the combined company and Husky shareholders about 39 per cent. 

The transaction must be approved by at least two-thirds of Husky’s shareholders but Hong Kong billionaire Li Ka-Shing  controls 70 per cent of Husky’s shares and has agreed to vote them in favour of the deal.

Sunday’s announcement comes just as Calgary’s oilsands companies are about to start rolling out third-quarter financial results, with Suncor Energy Inc. set to report Wednesday and both Cenovus and Husky scheduled to report on Thursday.

This report by The Canadian Press was first published Oct. 26, 2020.

Companies in this story: (TSX:CVE, TSX:HSE, TSX:SU)

The Canadian Press

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Alberta

Watchdog agency asked to look into man’s death following arrest at LRT station

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CALGARY — Alberta’s police oversight agency has been asked to investigate a death that police say happened after a suspect was arrested at a light-rail train station.

Calgary police say in a news release that they were called to the Marlborough CTrain station on Friday for reports of a man in possession of an airsoft gun.

They the man was cooperative when police arrived and they took him into custody without incident, and they say the arrest was captured on a body-worn camera.

He was charged with breach-related offences, police say, and was transported to Spyhill Services Centre where they say he was cleared by a medic and placed in a holding cell.

Police say that during a routine check of the cells at 8 p.m. the man was eating his meal, but at the next check he was found unresponsive.

They say that despite “significant lifesaving efforts” he was pronounced dead at approximately 8:40 p.m.

“We have recently undergone significant work to ensure that our standards are in line with current best practices for in-custody care,” police said in the news release.

“However out of an abundance of caution, we will be reviewing this incident to inform our procedures.”

Police said that as is standard practice with a death in custody, the Director of Law Enforcement was notified and has directed the oversight body, the Alberta Serious Incident Response Team, to investigate.

Calgary police said in the release that it “has extensive systems and protocols already in place to ensure the care of arrestees, including medical clearance checks for every arrestee prior to being admitted into a cell, searches of individuals before being taken into custody, CCTV systems to monitor people in custody and regular cell checks.”

Police said that since it’s now an active investigation by the watchdog agency, it won’t release further details.

This report by The Canadian Press was first published Oct. 25, 2020.

The Canadian Press

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