Latest news with #TransMountain
Calgary Herald
3 hours ago
- Business
- Calgary Herald
Braid: After big national meeting, not much hope for Premier Smith's pipeline dreams
Article content They're called Manitoba and British Columbia. Article content Article content The hard reality was obvious during the national premiers' meetings this week with Prime Minister Mark Carney. Article content Both provinces are run by NDP premiers who find themselves surrounded by conservative premiers. Article content We like to imagine, or hope, that partisanship is being set aside in the drive to get projects done. Its a wonderful dream. Article content Article content But after all the meetings and declarations, the omens are not positive for pipelines. Article content Article content On Monday, a memorandum of understanding on pipelines and energy development was signed by Alberta Premier Danielle Smith, Ontario's Doug Ford and Scott Moe of Saskatchewan. Article content The three conservative premiers enthusiastically support pipelines to B.C.'s north coast and James Bay in Northern Ontario. Article content Asked if he'd been invited to sign on with the conservative premiers, B.C. Premier David Eby said brusquely: 'No.' Article content Further questioned on whether he would have signed if asked, he said 'I haven't read it.' Article content Eby did say, reluctantly, that he'll consider such a pipeline if a private proponent comes on the scene. Article content Smith didn't challenge Eby. Rather, she emphasized her support for LNG exports and various joint economic projects now being discussed with B.C. Article content Article content She seemed to agree that talks won't happen until a private pipeline proponent comes forward. Article content Both premiers know that no backer is likely to emerge until Ottawa lifts the north coast tanker ban implemented by ex-Prime Minister Justin Trudeau in 2019. Article content Otherwise, how do you ship bitumen – by fishing boat? Article content Premier Smith keeps asking Prime Minister Carney to rescind the ban. He becomes very vague. Article content Even if the ban were to end, the B.C. NDP is likely to be as obstructive as they were when the late Premier John Horgan used 'every tool in the toolbox' – his words – to block the Trans Mountain expansion. Article content Eby now talks about how wickedly expensive the Trans Mountain line was ($34 billion) and how Ottawas was forced to buy it. Article content Article content But a huge part of that cost was directly caused by B.C. obstruction at every step of the way. Article content The province, various municipalities and activists dusted off every possible regulation, legal challenge and blockade to slow or halt progress.
Edmonton Journal
3 days ago
- Business
- Edmonton Journal
Varcoe: Carney government needs 'quick wins' from energy projects and to address internal challenges on Bill C-5, says new report
Article content 'This is an existential moment for Canada where we have both an opportunity and an obligation to become both more prosperous and more sovereign.' Article content Article content Prime Minister Mark Carney told the Calgary Herald recently it is 'highly likely' an oil pipeline to the Pacific Coast will be included on the federal list, although he said it will be up to private sector proponents to drive any proposal. Article content The report calls Bill C-5 a 'welcome transformative step' as it will allow Ottawa to streamline the authorization of major projects and approve them within two years, co-ordinated by a single federal office. It will also help meet the growing need for energy in the world. Article content 'There is low-hanging fruit. Some things are ready to go . . . Time is ticking,' report co-author Heather Exner-Pirot said in an interview. Article content 'Let's start seeing some action. Let's start seeing some projects.' Article content Article content If the changes under Bill C-5 had been in place for three energy projects that were completed earlier this decade — the Trans Mountain expansion, LNG Canada and the Coastal GasLink pipeline — it would have been valuable, but led to a 'relatively modest' average time savings of 1.5 years, the study notes. Article content These findings highlight the need to address challenges early in the development of a major project, it states. Article content Projects that should be on the list and can move quickly include the Ksi Lisims LNG project on the northwest B.C. coast, a second phase of LNG Canada, and steps to boost the capacity of Trans Mountain, said Exner-Pirot, who is also director of natural resources, energy and environment at the Macdonald-Laurier Institute. Article content However, the bill has sparked some criticism about the impact of speeding up the approval process, and Carney met with First Nations leaders last week and heard some of their concerns with Bill C-5. Article content Article content 'Free, prior and informed consent on First Nations Lands is non-negotiable. An advisory role is inadequate for real partnership,' Grand Chief Greg Desjarlais of the Confederacy of Treaty 6 First Nation said Friday in a news release. Article content 'I will trust actions over words as we look to move forward.' Article content To mitigate risks and concerns about an expedited approval process, Ottawa needs to 'deepen Indigenous engagement . . . to ensure genuine, equitable partnerships and meaningful participation,' states the report from the Expert Group on Canada-U.S. Relations, which includes academics, energy experts and business leaders. Article content 'Consultation should begin as early as possible and continue throughout the project lifecycle.' Article content The report says Ottawa should launch a formal process surrounding co-developing benefit-sharing and equity ownership agreements with Indigenous communities for major projects. It recommends transparent standards for consultation, such as timelines and public disclosure of the outcomes.
Calgary Herald
4 days ago
- Business
- Calgary Herald
Varcoe: Carney government needs 'quick wins' from energy projects and to address internal challenges on Bill C-5, says new report
Article content 'This is an existential moment for Canada where we have both an opportunity and an obligation to become both more prosperous and more sovereign.' Article content Article content Prime Minister Mark Carney told the Calgary Herald recently it is 'highly likely' an oil pipeline to the Pacific Coast will be included on the federal list, although he said it will be up to private sector proponents to drive any proposal. Article content The report calls Bill C-5 a 'welcome transformative step' as it will allow Ottawa to streamline the authorization of major projects and approve them within two years, co-ordinated by a single federal office. It will also help meet the growing need for energy in the world. Article content 'There is low-hanging fruit. Some things are ready to go . . . Time is ticking,' report co-author Heather Exner-Pirot said in an interview. Article content 'Let's start seeing some action. Let's start seeing some projects.' Article content Article content If the changes under Bill C-5 had been in place for three energy projects that were completed earlier this decade — the Trans Mountain expansion, LNG Canada and the Coastal GasLink pipeline — it would have been valuable, but led to a 'relatively modest' average time savings of 1.5 years, the study notes. Article content These findings highlight the need to address challenges early in the development of a major project, it states. Article content Projects that should be on the list and can move quickly include the Ksi Lisims LNG project on the northwest B.C. coast, a second phase of LNG Canada, and steps to boost the capacity of Trans Mountain, said Exner-Pirot, who is also director of natural resources, energy and environment at the Macdonald-Laurier Institute. Article content However, the bill has sparked some criticism about the impact of speeding up the approval process, and Carney met with First Nations leaders last week and heard some of their concerns with Bill C-5. Article content Article content 'Free, prior and informed consent on First Nations Lands is non-negotiable. An advisory role is inadequate for real partnership,' Grand Chief Greg Desjarlais of the Confederacy of Treaty 6 First Nation said Friday in a news release. Article content 'I will trust actions over words as we look to move forward.' Article content To mitigate risks and concerns about an expedited approval process, Ottawa needs to 'deepen Indigenous engagement . . . to ensure genuine, equitable partnerships and meaningful participation,' states the report from the Expert Group on Canada-U.S. Relations, which includes academics, energy experts and business leaders. Article content 'Consultation should begin as early as possible and continue throughout the project lifecycle.' Article content The report says Ottawa should launch a formal process surrounding co-developing benefit-sharing and equity ownership agreements with Indigenous communities for major projects. It recommends transparent standards for consultation, such as timelines and public disclosure of the outcomes.
Canada Standard
13-07-2025
- Business
- Canada Standard
Canada's proposed east-west energy corridors should prioritize clean energy
Canadian Prime Minister Mark Carney has made establishing east-west energy corridors a priority for Canada. He suggested that such corridors would include new oil and natural gas pipelines, designed to reduce dependence on the United States. Energy and Natural Resources Minister Tim Hodgson has gone even further in pushing for subsidization of carbon capture and storage projects that would effectively underwrite the long-term continuation of the fossil fuel industry at taxpayer expense. While there might be short-term political reasons for backing fossil fuels, such an approach goes against Canada's long-term interests. Prioritizing fossil fuels undermines the country's commitments to reduce emissions and takes away the investment needed for it to realize its potential to become a green energy superpower. Creating energy corridors is in the national interest, and would allow Canada to take full advantage of its abundant and diverse energy and mineral resources. The government also needs to be involved, as the corridors are interprovincial and will require substantial investment. However, the government has limited resources and so Canada must think strategically about its priorities for such corridors. Canadian taxpayers should not be subsidizing an already lucrative oil and gas industry. Instead, the federal government should prioritize funding clean energy supply solutions. Canadian governments have long faced opposition to building new pipelines. The provinces of Quebec and British Columbia and many First Nations have strongly opposed new pipeline proposals. More recently, there is some signs of softening under the duress of U.S. tariffs. Even if such shifts are lasting, it's for the private sector to step up and invest into these projects. Previous federal investments, such as the Trans Mountain pipeline (TMX), were reflections of the private market's unwillingness to invest in pipelines because they are bad investments. The 2024 Parliamentary Budget Office report estimated that selling the TMX would result in a loss. There are reasons to question the soundness of fossil fuels on a purely financial basis. A 2022 Parliamentary budget office report found that climate change reduced GDP by 0.8 per cent in 2021, or around $20 billion. This number is expected to rise to 5.8 per cent per year by 2100 (or $145 billion in 2021 dollars). By contrast, from 2017 to 2021, federal, provincial and territorial governments received an average of $12 billion annually in revenues from the the oil and gas industry. The gap between the costs and benefits is only going to increase over time. The costs cut across all aspects of life, including food security, health care, global instability and threats to coastal cities due to sea level rise. On the other hand, every dollar invested in adaptation today has an estimated return of $13-$15. Furthermore, a recent study indicates a likely glut in global natural gas markets, and the future prospects for oil are equally questionable. For example, one of Canada's target markets, Japan, has been reselling its liquefied natural gas imports to other countries, suggesting the glut of oil and gas is likely to continue as cheaper producers, including those in the Middle East and Southeast Asia, who are cheaper and closer to consumers, flood the market. Cheaper and closer oil producers are also flooding markets in anticipation of declining prices. There are important opportunity costs of investing money in fossil fuels that could otherwise be invested in the clean energy economy. When new technologies arise, there is a limited window of opportunity for global competitors to enter into an emerging industry. In light of the shift to electric vehicles, heat pumps and artificial intelligence, it's clear that energy demand is bound to increase significantly in Canada in the coming years. Canada can become a global competitor, but only if it enters the race now, while the window is open. Solar and wind prices have declined by 83 per cent and 65 per cent respectively since 2009. However, they suffer from the fundamental issue of intermittency; the sun is not always shining and the wind isn't always blowing. While battery prices are declining, they remain an expensive solution. An easier solution is at hand: Canada's hydroelectric resources. Quebec, B.C. and Manitoba have abundant hydro resources that can reduce energy costs throughout the rest of the country. Alberta and Saskatchewan have potential for significant geothermal power generation. Ontario and the Atlantic provinces could contribute wind and solar. Trading electricity through an integrated national grid increases the investment capital and reduces the need for batteries while diversifying the energy mix. But we need an east-west electricity market to make this happen. An east-west grid would reduce the need for every province to run its own power generation system. Creating a pooled market would allow provinces to trade electricity, giving consumers more choice and investors a larger market and potential return on their investment. More valuable still is the fact that electricity capacity has to be built for the few peak hours and seasons. But most of the time demand is well below full capacity, such as the middle of the night or early summer, when neither heat nor air conditioning is needed in many areas. As peak times and seasons vary across the country, Canada can reduce overall costs by trading the electricity in the lowest cost producing province at a given time to where it's needed in the other. By locating some of the new clean energy in First Nations, Canada can also move reconciliation forward. There is potential for a win-win situation whereby Canada increases renewable energy generation while creating new jobs and income for First Nations wherever feasible. The first step is for regulatory reform across the provinces to support a Canada-wide electricity market, and to provide the funding for the massive infrastructure investment required to connect provincial grids. This would be a federal investment with incredible long-term payoffs for employment, taxpayers and future generations. Following this plan could truly make Canada an energy superpower on the right side of the energy transition, create thousands of jobs and give the country a global competitive edge - all while helping to save the planet in the process.
Canada News.Net
13-07-2025
- Business
- Canada News.Net
Canada's proposed east-west energy corridors should prioritize clean energy
Canadian Prime Minister Mark Carney has made establishing east-west energy corridors a priority for Canada. He suggested that such corridors would include new oil and natural gas pipelines, designed to reduce dependence on the United States. Energy and Natural Resources Minister Tim Hodgson has gone even further in pushing for subsidization of carbon capture and storage projects that would effectively underwrite the long-term continuation of the fossil fuel industry at taxpayer expense. While there might be short-term political reasons for backing fossil fuels, such an approach goes against Canada's long-term interests. Prioritizing fossil fuels undermines the country's commitments to reduce emissions and takes away the investment needed for it to realize its potential to become a green energy superpower. Creating energy corridors is in the national interest, and would allow Canada to take full advantage of its abundant and diverse energy and mineral resources. The government also needs to be involved, as the corridors are interprovincial and will require substantial investment. However, the government has limited resources and so Canada must think strategically about its priorities for such corridors. Canadian taxpayers should not be subsidizing an already lucrative oil and gas industry. Instead, the federal government should prioritize funding clean energy supply solutions. Canadian governments have long faced opposition to building new pipelines. The provinces of Quebec and British Columbia and many First Nations have strongly opposed new pipeline proposals. More recently, there is some signs of softening under the duress of U.S. tariffs. Even if such shifts are lasting, it's for the private sector to step up and invest into these projects. Previous federal investments, such as the Trans Mountain pipeline (TMX), were reflections of the private market's unwillingness to invest in pipelines because they are bad investments. The 2024 Parliamentary Budget Office report estimated that selling the TMX would result in a loss. There are reasons to question the soundness of fossil fuels on a purely financial basis. A 2022 Parliamentary budget office report found that climate change reduced GDP by 0.8 per cent in 2021, or around $20 billion. This number is expected to rise to 5.8 per cent per year by 2100 (or $145 billion in 2021 dollars). By contrast, from 2017 to 2021, federal, provincial and territorial governments received an average of $12 billion annually in revenues from the the oil and gas industry. The gap between the costs and benefits is only going to increase over time. The costs cut across all aspects of life, including food security, health care, global instability and threats to coastal cities due to sea level rise. On the other hand, every dollar invested in adaptation today has an estimated return of $13-$15. Furthermore, a recent study indicates a likely glut in global natural gas markets, and the future prospects for oil are equally questionable. For example, one of Canada's target markets, Japan, has been reselling its liquefied natural gas imports to other countries, suggesting the glut of oil and gas is likely to continue as cheaper producers, including those in the Middle East and Southeast Asia, who are cheaper and closer to consumers, flood the market. Cheaper and closer oil producers are also flooding markets in anticipation of declining prices. There are important opportunity costs of investing money in fossil fuels that could otherwise be invested in the clean energy economy. When new technologies arise, there is a limited window of opportunity for global competitors to enter into an emerging industry. In light of the shift to electric vehicles, heat pumps and artificial intelligence, it's clear that energy demand is bound to increase significantly in Canada in the coming years. Canada can become a global competitor, but only if it enters the race now, while the window is open. Solar and wind prices have declined by 83 per cent and 65 per cent respectively since 2009. However, they suffer from the fundamental issue of intermittency; the sun is not always shining and the wind isn't always blowing. While battery prices are declining, they remain an expensive solution. An easier solution is at hand: Canada's hydroelectric resources. Quebec, B.C. and Manitoba have abundant hydro resources that can reduce energy costs throughout the rest of the country. Alberta and Saskatchewan have potential for significant geothermal power generation. Ontario and the Atlantic provinces could contribute wind and solar. Trading electricity through an integrated national grid increases the investment capital and reduces the need for batteries while diversifying the energy mix. But we need an east-west electricity market to make this happen. An east-west grid would reduce the need for every province to run its own power generation system. Creating a pooled market would allow provinces to trade electricity, giving consumers more choice and investors a larger market and potential return on their investment. More valuable still is the fact that electricity capacity has to be built for the few peak hours and seasons. But most of the time demand is well below full capacity, such as the middle of the night or early summer, when neither heat nor air conditioning is needed in many areas. As peak times and seasons vary across the country, Canada can reduce overall costs by trading the electricity in the lowest cost producing province at a given time to where it's needed in the other. By locating some of the new clean energy in First Nations, Canada can also move reconciliation forward. There is potential for a win-win situation whereby Canada increases renewable energy generation while creating new jobs and income for First Nations wherever feasible. The first step is for regulatory reform across the provinces to support a Canada-wide electricity market, and to provide the funding for the massive infrastructure investment required to connect provincial grids. This would be a federal investment with incredible long-term payoffs for employment, taxpayers and future generations. Following this plan could truly make Canada an energy superpower on the right side of the energy transition, create thousands of jobs and give the country a global competitive edge - all while helping to save the planet in the process.
