International Energy Agency boss prefers oil and gas from Canada

This article is submitted by Canadian Energy Centre Ltd.

Producers building a competitive advantage with ESG performance

The head of the International Energy Agency says Canada is a preferred global oil and gas supplier and should take steps to ensure it remains so in the decades to come.

IEA executive director Fatih Birol is a big advocate for net zero targets, but he knows that even as the world transforms its energy systems, oil and gas will be around for a long time.

He’d prefer the supply comes from “good partners” like Canada, Birol said on Jan. 13 during the virtual launch of the IEA’s Canada 2022 report.

The Paris-based IEA is a world-recognized authority on energy supply, demand and policy.

“Canada has been a cornerstone of global energy markets, a reliable partner, for years,” Birol said.

“We will still need oil and gas for years to come… I prefer that oil is produced by countries… like Canada who want to reduce the emissions of oil and gas.”

World oil consumption has returned near pre-pandemic levels, and natural gas demand surpassed levels pre-COVID last year, according to IEA data. Consumption of both is expected to continue rising even as more renewable energy sources come online.

In Europe, energy customers are feeling the pain of dealing with an unreliable supplier.

Birol said Europe’s natural gas crisis is in part because it depends on Russia for nearly half its natural gas imports. As a result, Russia’s policies “have a huge impact on the European energy mix.”

Right now, Russia has unused capacity to send the equivalent of a full LNG vessel every day to help reduce natural gas prices in Europe, amid a standoff between Moscow and the West over Ukraine, Birol told reporters last week.

“[The] world needs reliable partners,” he said. Canada’s first LNG exports are expected in 2025 and forecast to rise steadily thereafter, the IEA noted in its report.

Canada is the world’s fourth-largest producer of oil and natural gas and home to the third-largest oil reserves, which “creates employment for Canadians and secure and reliable oil and gas for both domestic and global markets,” the IEA said.

Remaining competitive in global oil and gas markets – and ensuring the sector remains a major driver of the Canadian economy beyond 2050 – requires emissions reductions, the IEA said, praising work that has been done already.

Canada is not only stable and reliable, but its LNG supply will also be cleaner than competitors, the IEA said.

The LNG Canada project that is under construction in B.C. is expected to have the lowest carbon emissions intensity of any large LNG facility currently operating in the world, at 60 per cent lower than the global average.

Other proposed LNG projects in Canada plan to use clean, renewable hydroelectricity to power operations, resulting in emissions profiles up to 90 per cent lower than global competitors, the IEA said.

Analysts praised the oil and gas industry’s “strong track record” of reducing emissions intensity, in the oil sands by 32 per cent since 1990 and by 13 per cent for natural gas production since 2010. A further reduction of up to 27 per cent is expected in the oil sands by 2030.

The success is in part because of large investments in clean technology and environmental protection, the IEA said.

Oil and gas companies in Canada together spend an average of $1 billion per year on energy cleantech, in addition to billions in environmental protection.

In 2018, oil and gas companies also invested $3.6 billion in environmental protection initiatives – by far the largest environmental protection spend of any industry in the country, the IEA said.

“Canadian oil and natural gas producers are leveraging their improving environmental, social and governance performance and Canada’s stringent environmental regulations to build a global competitive advantage” as interest in cleaner fuels and environmental sustainability grows.

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Former senior financial advisor charged with embezzling millions from Red Deer area residents

Published on April 26, 2024

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News release from Alberta RCMP

Former senior financial advisor charged for misappropriating nearly $5 million from clients

On April 4, 2024, the RCMP’s Provincial Financial Crime Team charged a Calgary resident for fraud-related offences after embezzling millions of dollars from his clients while serving as a senior financial advisor.

Following a thorough investigation, the accused is alleged to have fraudulently withdrawn funds from client accounts and deposited them into bank accounts he personally controlled. A total of sixteen victims were identified in the Red Deer area and suffered a combined loss of nearly $5 million.

Marc St. Pierre, 52, a resident of Calgary, was arrested and charged with:

Fraud over $5,000 contrary to section 380(1)(a) of the Criminal Code; and,
Theft over $5,000 contrary to section 344(a) of the Criminal Code.

St. Pierre is scheduled to appear in Red Deer Provincial Court on May 14, 2024.

“The ability for financial advisors to leverage their position to conduct frauds and investment scams represents a significant risk to the integrity of Alberta’s financial institutions. The investigation serves as an important reminder for all banking clients to regularly check their accounts for any suspicious activity and to report it to their bank’s fraud prevention team.”

Sgt. John Lamming, Provincial Financial Crime Team

The Provincial Financial Crime Team is a specialized unit that conducts investigations relating to multi-jurisdictional serious fraud, investments scams and corruption.

Alberta

Political parties will be part of municipal elections in Edmonton and Calgary pilot projects

Published on April 25, 2024

Government of Alberta

Strengthening Alberta’s local elections

Alberta’s government is introducing legislation to ensure Albertans can rely on transparent, free and fair elections, and municipally-elected officials have clearer accountability measures.

In a democratic society, Albertans expect their local elections to be free and fair, and their elected officials to be held to account by clear rules that govern their local councils. The Municipal Affairs Statutes Amendment Act proposes amendments to the Local Authorities Election Act (LAEA) and the Municipal Government Act (MGA) to add greater transparency to local election processes and ensure local councils and elected officials continue to remain accountable to the citizens who elected them.

“Our government is committed to strengthening Albertans’ trust in their local governments and the democratic process that elects local leaders. The changes we are making increase transparency for Alberta voters and provide surety their votes will be counted accurately. We know how important local democracy is to Albertans, and we will work with local authorities to protect and enhance the integrity of local elections.”

Ric McIver, Minister of Municipal Affairs

Local Authorities Election Act

Albertans expect free and fair elections and that’s why it’s important we strengthen the rules that govern local elections. To strengthen public trust in local elections, Alberta’s government will eliminate the use of electronic tabulators and other automated voting machines. All Albertans should be able to trust the methods and results of local elections; requiring all ballots to be counted by hand, clarifying rules and streamlining processes for scrutineers will provide voters greater assurance in the integrity of the results.

All eligible Albertans should be able to vote in local elections without impediment. Alberta’s government will limit the barriers for eligible voters to cast a ballot by expanding the use of special ballots. Currently, special ballots can only be requested for very specific reasons, including physical disability, absence from the municipality, or for municipal election workers. By expanding the use of special ballots, the government is encouraging more voter participation.

Amendments in the Municipal Affairs Statutes Amendment Act would increase transparency in local elections by enabling political parties at the local level. Political parties would be enabled in a pilot project for Edmonton and Calgary. The act will not require candidates to join a political party in order to run for a local or municipal office, but will create the opportunity to do so.

In addition, proposed changes to the Local Authorities Election Act would allow municipalities the option to require criminal record checks for local candidates, thus increasing transparency and trust in candidates who may go on to become elected officials.

Municipal Government Act

The role of an elected official is one with tremendous responsibility and expectations. Changes proposed to the Municipal Government Act (MGA) will strengthen the accountability of locally elected officials and councils. These include requiring mandatory orientation training for councillors, allowing elected officials to recuse themselves for real or perceived conflicts of interest without third-party review and requiring a councillor’s seat to become vacant upon disqualification.

If passed, the Municipal Affairs Statutes Amendment Act will also unlock new tools to build affordable and attainable housing across Alberta. Proposed amendments under the MGA would also create more options for municipalities to accelerate housing developments in their communities. Options include:

Exempting non-profit, subsidized affordable housing from both municipal and education property taxes;
Requiring municipalities to offer digital participation for public hearings about planning and development, and restricting municipalities from holding extra public hearings that are not already required by legislation; and
Enabling municipalities to offer multi-year residential property tax exemptions.

Municipal Affairs will engage municipalities and other partners over the coming months to hear perspectives and gather feedback to help develop regulations.

Quick facts

The LAEA establishes the framework for the conduct of elections in Alberta municipalities, school divisions, irrigation districts and Metis Settlements.
The MGA establishes the rules governing the conduct of local elected officials once on council, as well as the overall administration and operation of municipal authorities in Alberta, including any policy those authorities may wish to implement.