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Alberta

Alberta announces new senatorial election in October 2021

Published

5 years ago

6 minute read

From the Province of Alberta: Battling back with a new Senate Election

Bill 13, the Alberta Senate Election Act, would reinstate Senate nominee elections to enable Albertans to choose who would best represent them in the Senate.

Premier Jason Kenney and Justice and Solicitor General Minister Doug Schweitzer announce Bill 13: The Alberta Senate Election Act.

Senate nominee elections would reflect the democratic will of Albertans and make senators directly accountable to Alberta voters to defend our province’s interests.

“We are introducing the Alberta Senate Election Act to enable Albertans to choose the people they think would best represent them in the Upper Chamber. Senators who are elected by Albertans have shown that they effectively stand up for Alberta’s economy, jobs and families. They set a strong example to other provinces of the benefits of having effective voices with the moral legitimacy of having been elected.” Jason Kenney, Premier

In the four elections between 1989 and 2012 held under the previous Senate elections law, which expired in 2016, Alberta voters nominated 10 candidates for Senate appointments. Of those, five were ultimately appointed, including current senators Doug Black and Scott Tannas, who recently stood up for Alberta’s economy and for resource jobs in Canada by advocating for changes to Bill C-69, the ‘No More Pipelines Bill’ and the prejudicial Bill C-48.

“Elected senators are accountable to Albertans and have greater moral legitimacy to effectively speak on our behalf because they receive a mandate from voters. When Albertans have had a say in who would best represent them in the Senate, they have chosen people of the highest calibre who have been effective voices for Alberta’s interests.” Doug Schweitzer, Minister of Justice and Solicitor General

“Alberta Senate nominee elections had played an important role in allowing Albertans to decide who will be their voice at the federal Parliament. These elections bestowed significant moral and political legitimacy to Alberta’s senatorial candidates. I was honoured to have won in the 2012 Alberta Senate nominee elections, and am proud to continue to serve alongside my fellow Albertan colleague, the Honourable Scott Tannas. The renewal of the Senatorial Selection Act is an important step forward for reasserting Alberta’s role as a leader in the democratization of the Canadian Senate.”Sen. Doug Black

“Since 1989, Alberta voters have gone to the polls to nominate their choice for who should represent them in Canada’s Senate. I am proud to be one of five elected candidates to have been appointed as a senator from Alberta. I am pleased to see the Government of Alberta is reviving the Senatorial Selection Act after the previous government refused to renew it. Albertans have a proud tradition of electing candidates for the Senate, and should continue to do so.”Sen. Scott Tannas

“As a proud Albertan and retired member of the Senate of Canada, I am pleased to see the introduction of Bill 13: The Alberta Senate Election Act. This act would revive Alberta’s proud history of leading and strengthening our shared Canadian democratic traditions. I have always firmly believed that a strong, democratic Senate is in the interest of provinces like Alberta that do not have adequate weight in the House of Commons but important regional interests. Under the leadership of Premier Jason Kenney, I am confident that this government will restore Alberta’s rightful voice and standing in federal politics.”Betty Unger, former senator

“In 2012, over 300,000 Alberta voters marked my name on their Senate election ballot. Despite that, Prime Minister Justin Trudeau refused to respect the wishes of Albertans, and instead appointed senators who voted against Alberta’s interests and in favour of the so-called ‘No More Pipelines Act,’ Bill C-69. It’s time for Albertans to once again have their say on who they want to see representing them in Ottawa.”Mike Shaikh, senate nominee

Quick facts

  • Alberta has six representatives in the Senate.
  • In 2012, 1.3 million Albertans voted in a Senate nominee election, which was held in conjunction with the provincial election.
  • In general, the law would allow for voting for Senate nominees:
    • as part of provincial or municipal elections
    • as a stand-alone process
    • with a referendum
  • The next scheduled Alberta Senate vacancy will be in March 2021.
  • The Government of Alberta would provide names of elected nominees to the prime minister for consideration when filling Senate vacancies.
  • The previous Senate elections legislation expired in 2016.
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“It’s Canada’s Time to Shine” – CNRL’s $6.5 Billion Chevron Deal Extends Oil Sands Buying Spree

Alberta

“It’s Canada’s Time to Shine” – CNRL’s $6.5 Billion Chevron Deal Extends Oil Sands Buying Spree

Published on October 8, 2024

By

From Energy Now

Canadian Natural Resources Ltd.’s $6.5 billion acquisition from Chevron Corp. marks the latest in a string of deals that has helped make it the country’s largest oil producer and brought Alberta’s massive oil sands deposits almost entirely under local control.

CNRL has feasted on the oil sands assets of foreign energy producers over the past decade, snapping up stakes and operations from Devon Energy Corp. and Shell Plc as they shifted away from the higher-cost, higher-emissions oil sands business. Investors have applauded the strategy, which allows CNRL to boost output and make the operations more efficient.

That trend continued on Monday, with CNRL shares climbing more than 4% after the deal with Chevron raised its stake in a key oil sands mine and a connected upgrading facility, while also adding natural gas assets in the Duvernay formation.

“These assets build on the robustness of Canadian Natural’s assets,” said CNRL President Scott Stauth said on a conference call Monday. The deal boosts CNRL’s stake in the Athabasca oil sands project, which it first bought from Shell in 2017, to 90% from 70%.

The acquisition was largely expected and boosts CNRL’s oil and gas output by roughly 9%, adding the equivalent of 122,500 barrels of oil production per day.

“It’s just been a matter of time,” Eight Capital analyst Phil Skolnick said by phone, noting that CNRL had been seen as the logical buyer for Chevron’s oil sands business.

While CNRL also boosted its dividend by 7% on Monday, Desjardins analyst Chris MacCulloch  cautioned the company’s additional debt to finance the acquisition “may disappoint some investors” given it plans to temporarily slow capital returns.

Still, MacCulloch said the deal is positive overall for CNRL as it further consolidates assets in the region. “There’s no place like home,” he wrote in a note.

Chevron, for its part, is the latest in a long line of US and international oil producers — such as BP Plc, TotalEnergies SE and Equinor ASA — that have shifted away from the oil sands after spending billions to build facilities in the heavy-oil formation. That has left the oil sands largely in the control of Canadian firms including CNRL, Suncor Energy Inc. and Cenovus Energy Inc.

“There’s no remaining, obvious assets available,” Ninepoint Partners partner and senior portfolio manager Eric Nuttall said after Monday’s deal. Ninepoint owns 3.1 million shares in CNRL, data compiled by Bloomberg show.

Many of those oil sands deals have been struck at prices that favor the Canadian buyers, which have consolidated land, reduced costs and boosted returns in recent years.

“It’s Canada’s time to shine,” Nuttall said, adding that he expects foreign investors will return to the country’s oil producers in the future.

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Alberta

Alberta Preparing a New Regulatory Framework for iGaming

Published on October 7, 2024

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With the success of the iGaming market in Ontario, Alberta is looking to it as a blueprint for its own plans in that arena. Despite this, there will likely be differences in the way the two provinces regulate this industry.  These potential differences will likely be based on the strategies laid out by Dale Nally, Alberta’s Minister of Service and Red Tape Reduction.

The manner in which Alberta eventually decides to handle its iGaming regulations will be crucial to maintaining a healthy balance for the industry there. Many other regions have begun seeing the drawbacks of over-regulation in this field. As a result, many new-age casinos operating offshore have been gaining popularity over traditional ones that are often stifled by restrictions. 

This is because restrictions place more onerous burdens on operators and cause lengthy delays with everything from sign-up procedures to payout times. However, offshore casinos have become a revelation for players tied down by these restrictions. For example, crypto casinos and the perks found at sites like an instant payout casino have seen the number of players from regions like the US, UK, Asia, Europe, and even Canada soaring in recent years.

Instant payout casinos in particular have grown very popular in recent years as they offer players same-day access to their winnings. This phenomenon has been playing out amid ever-tightening regulations on iGaming sites being deployed in many prominent markets. 

While reasonable regulations have their benefits, many players feel that most jurisdictions are over-regulating the industry now and players have begun to respond by flocking to offshore sites. Instant payout casinos offer a perfect refuge since platforms like these feature fewer restrictions, more expansive gaming libraries, more privacy, and more generous bonuses.  

While Alberta is drawing heavily from Ontario’s regulatory guidelines, it also wants to retain some aspects that will distinguish it too. Minister Nally has indicated that Alberta will seek a less onerous regulatory regime than Ontario. However, as it is with Ontario, there won’t be a limit imposed on the number of iGaming operators permitted. These would also not require any partnerships with land-based casinos. 

This approach is expected to foster a competitive online betting environment. As such, huge operators are expected to set up shop there and operate freely alongside the government-run Play Alberta—which currently holds a monopoly.

Nally’s ministry has already been busy working on these new regulations and is set to keep being so as it will also be directly responsible for overseeing iGaming regulations and their enforcement. This ensures a separate regulatory body need not be created. It also addresses concerns raised by operators that Alberta’s Gaming, Liquor, and Cannabis Commission (AGLC) would have a conflict of interest if it managed the new regime as the AGLC is a market operator since it runs the Play Alberta platform.

All in all, Alberta’s approach currently does look good and at least considers the need for making it as simple as possible for new entrants to gain access to the market. Alberta’s method to  “conduct and manage” gambling activities is in direct contrast with Ontario’s, where iGaming Ontario (iGO) is simply a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO).

The revenue-sharing model will also be looked at. Currently, Ontario operators are taxed 20% with the province making $790 million of them last year—with more expansion on the horizon. On that note, Alberta has hinted that it may seek a higher percentage. With other things like consults with indigenous communities and other stakeholders, and setting up transition periods for “grey” market operators, there is more work to be done. However, for now, the future of the iGaming industry in Alberta looks good indeed. 

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