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Energy

Canadian natural resource minister’s wife invests in oil stocks as gov’t attacks industry

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6 minute read

From LifeSiteNews

By Anthony Murdoch

Records show Tara Wilkinson’s stock purchases include ‘fossil fuel’ producers targeted for eventual elimination by the Liberal government.

The wife of Canadian Natural Resources Minister Jonathan Wilkinson bought oil and gas company stocks, records show, at the same time the federal Liberal government has been attacking the industry in a bid to curb so-called “fossil fuel” use and “fight against climate change.”

According to records as per a recent Blacklock’s Reporter report, Wilkinson’s wife, Tara, amped up her trading in oil and gas stocks last year in Enbridge Incorporated and Shell PLC. The records were found filings under Canada’s Conflict of Interest Code for Members of the House of Commons.

Records show Mrs. Wilkinson also has shares in the globalists linked BlackRock Inc., Amazon, and Finning International Inc., the military-industrial complex linked to Lockheed Martin Corporation, along with COVID jab promoting Pfizer and 3M Company. She also holds stock in Royal Bank and Toronto Dominion Bank.

As early as December, Wilkinson boasted that “Canada became the first oil and gas producer in the world to put a cap on oil and gas emissions.”

He also has claimed that he is looking out for his family’s future by promoting federal climate programs.

Indeed, in 2021, he said he would “honour the commitments we made to our children that we’re going to leave them something that is a workable and sustainable world,” claiming “climate change” is the “existential issue of our time.”

He also claimed, despite his wife and by extension family profiting off oil and gas companies, that “we are on a trajectory to reducing to net zero by 2050” and that “it is important in our fight against climate change.”

Other current and former Liberal cabinet ministers also have oil and gas stocks, such as former Addictions Minister Carolyn Bennett, former Attorney General David Lametti and current Veterans Affairs Minister Ginette Petitpas Taylor.

Oil and gas companies have been racking in high profits due to both a high demand for oil and gas and higher oil prices.

The federal government under Prime Minister Justin Trudeau since 2015 has pushed a radical environmental agenda similar to the agendas being pushed the World Economic Forum’s “Great Reset” and the United Nations “Sustainable Development Goals.”

Late last year, the Trudeau government forged ahead with many policies that if they come to full fruition will destroy Canada’s oil and gas industry, which provides jobs to thousands and is important in Alberta and Saskatchewan.

At COP28 held late last year, Environment Minister Steven Guilbeault unveiled a plan to slash oil and gas emissions by 35% to 38% below 2019 levels. He claimed that it is important to reach “carbon neutrality in Canada by 2050.”

At COP28, he announced a new Liberal federal government climate policy that aims to incentivize beef cattle ranchers to reduce how much gas their cows emit by giving them feed additives.

A recent near power blackout in Alberta due to the failure of wind and solar power, however, highlights how so-called sustainable wind and solar power, which the Trudeau government heavily promotes, are not a good fit for Canada’s cold climate.

Alberta Premier Danielle Smith has blasted Guilbeault as a “menace” for going after her province and the oil and gas industry in general and vowed to fight him with every tool available to her government.

The Trudeau government has also pledged to mandate that all new cars and trucks by 2035 be electric, which would in effect ban the sale of new gasoline- or diesel-only powered vehicles after that year.

The reduction and eventual elimination of the use of so-called “fossil fuels” and a transition to unreliable “green” energy has also been pushed by the World Economic Forum (WEF) – the globalist group behind the socialist “Great Reset” agenda – an organization in which Trudeau and some of his cabinet are involved.

A June 2017 peer-reviewed study by two scientists and a veteran statistician confirmed that most of the recent global warming data have been “fabricated by climate scientists to make it look more frightening.”

There have been two recent court rulings that have dealt a blow to Trudeau’s environmental laws, however.

The most recent was the Federal Court of Canada on November 16 overturned the Trudeau government’s ban on single-use plastic, calling it “unreasonable and unconstitutional.”

The second ruling comes after Canada’s Supreme Court recently sided in favor of provincial autonomy when it comes to natural resources. The Supreme Court recently ruled that Trudeau’s law, C-69, dubbed the “no-more pipelines” bill, is “mostly unconstitutional.” This was a huge win for Alberta and Saskatchewan, which challenged the law in court. The decision returned authority over the pipelines to provincial governments, meaning oil and gas projects headed up by the provinces should be allowed to proceed without federal intrusion.

The Trudeau government, however, seems insistent on defying the recent rulings by pushing forward with its various regulations.

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Alberta

‘Existing oil sands projects deliver some of the lowest-breakeven oil in North America’

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From the Canadian Energy Centre 

By Will Gibson

Alberta oil sands projects poised to grow on lower costs, strong reserves

As geopolitical uncertainty ripples through global energy markets, a new report says Alberta’s oil sands sector is positioned to grow thanks to its lower costs.

Enverus Intelligence Research’s annual Oil Sands Play Fundamentals forecasts producers will boost output by 400,000 barrels per day (bbls/d) by the end of this decade through expansions of current operations.

“Existing oil sands projects deliver some of the lowest-breakeven oil in North America at WTI prices lower than $50 U.S. dollars,” said Trevor Rix, a director with the Calgary-based research firm, a subsidiary of Enverus which is headquartered in Texas with operations in Europe and Asia.

Alberta’s oil sands currently produce about 3.4 million bbls/d. Individual companies have disclosed combined proven reserves of about 30 billion barrels, or more than 20 years of current production.

A recent sector-wide reserves analysis by McDaniel & Associates found the oil sands holds about 167 billion barrels of reserves, compared to about 20 billion barrels in Texas.

While trade tensions and sustained oil price declines may marginally slow oil sands growth in the short term, most projects have already had significant capital invested and can withstand some volatility.

Cenovus Energy’s Christina Lake oil sands project. Photo courtesy Cenovus Energy

“While it takes a large amount of out-of-pocket capital to start an oil sands operation, they are very cost effective after that initial investment,” said veteran S&P Global analyst Kevin Birn.

“Optimization,” where companies tweak existing operations for more efficient output, has dominated oil sands growth for the past eight years, he said. These efforts have also resulted in lower cost structures.

“That’s largely shielded the oil sands from some of the inflationary costs we’ve seen in other upstream production,” Birn said.

Added pipeline capacity through expansion of the Trans Mountain system and Enbridge’s Mainline have added an incentive to expand production, Rix said.

The increased production will also spur growth in regions of western Canada, including the Montney and Duvernay, which Enverus analysts previously highlighted as increasingly crucial to meet rising worldwide energy demand.

“Increased oil sands production will see demand increase for condensate, which is used as diluent to ship bitumen by pipeline, which has positive implications for growth in drilling in liquids-rich regions such as the Montney and Duvernay,” Rix said.

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Alberta

It’s On! Alberta Challenging Liberals Unconstitutional and Destructive Net-Zero Legislation

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“If Ottawa had it’s way Albertans would be left to freeze in the dark”

The ineffective federal net-zero electricity regulations will not reduce emissions or benefit Albertans but will increase costs and lead to supply shortages.

The risk of power outages during a hot summer or the depths of harsh winter cold snaps, are not unrealistic outcomes if these regulations are implemented. According to the Alberta Electric System Operator’s analysis, the regulations in question would make Alberta’s electricity system more than 100 times less reliable than the province’s supply adequacy standard. Albertans expect their electricity to remain affordable and reliable, but implementation of these regulations could increase costs by a staggering 35 per cent.

Canada’s constitution is clear. Provinces have exclusive jurisdiction over the development, conservation and management of sites and facilities in the province for the generation and production of electrical energy. That is why Alberta’s government is referring the constitutionality of the federal government’s recent net-zero electricity regulations to the Court of Appeal of Alberta.

“The federal government refused to work collaboratively or listen to Canadians while developing these regulations. The results are ineffective, unachievable and irresponsible, and place Albertans’ livelihoods – and more importantly, lives – at significant risk. Our government will not accept unconstitutional net-zero regulations that leave Albertans vulnerable to blackouts in the middle of summer and winter when they need electricity the most.”

Danielle Smith, Premier

“The introduction of the Clean Electricity Regulations in Alberta by the federal government is another example of dangerous federal overreach. These regulations will create unpredictable power outages in the months when Albertans need reliable energy the most. They will also cause power prices to soar in Alberta, which will hit our vulnerable the hardest.”

Mickey Amery, Minister of Justice and Attorney General

Finalized in December 2024, the federal electricity regulations impose strict carbon limits on fossil fuel power, in an attempt to force a net-zero grid, an unachievable target given current technology and infrastructure. The reliance on unproven technologies makes it almost impossible to operate natural gas plants without costly upgrades, threatening investment, grid reliability, and Alberta’s energy security.

“Ottawa’s electricity regulations will leave Albertans in the dark. They aren’t about reducing emissions – they are unconstitutional, ideological activist policies based on standards that can’t be met and technology that doesn’t exist. It will drive away investment and punish businesses, provinces and families for using natural gas for reliable, dispatchable power. We will not put families at risk from safety and affordability impacts – rationing power during the coldest days of the year – and we will continue to stand up for Albertans.”

Rebecca Schulz, Minister of Environment and Protected Areas

“Albertans depend on electricity to provide for their families, power their businesses and pursue their dreams. The federal government’s Clean Electricity Regulations threaten both the affordability and reliability of our power grid, and we will not stand by as these regulations put the well-being of Albertans at risk.”

Nathan Neudorf, Minister of Affordability and Utilities

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