It's a scene that would be hard to imagine if it wasn't there Video evidence.
In 2017, Prime Minister Justin Trudeau took the stage at the CERAweek energy conference in Houston. Speaking to a packed room of 1,200 energy executives and leaders, he reflected on the importance of Canada's oil and gas sector – and met with many. standing hymn.
“No country is going to find 173 billion barrels of oil in the ground and leave them there,” Trudeau said on stage. “The resource will be developed. Our job is to make sure it's done responsibly, safely and sustainably.”
At the time, Trudeau said that environmental protection and resource development went hand in hand, and described progress on these dual priorities as being done “in collaboration with our provinces.”
Cut to 2025, and suffice it to say the oilpatch very little Now he is happy with the outgoing Prime Minister. And will the federal government cooperate with the state? Alberta Premier Daniel Smith, for one, will possibility Urge to make a difference.
See | Trudeau speaks at the 2017 Energy Conference in Houston:
Pipeline procurement, unpopular policies
So how did things get so sour?
Even in the early days of his government, Trudeau faced criticism in the oilpatch that blamed him for the cancellation. Northern Gateway Project. His public suggestion in 2017 should be the oil sands “step by step” Outrage also spread in Alberta.
Later, Trudeau bought the Trans-Mountain Pipeline – which boosted Canada's oil exports. Significantly – but his government also introduced a range of policies that were deeply unpopular in the oil patch.
A prime example is the oil and gas emissions cap, which many see in the oilpatch Actual limits on production. If Canada isn't able to meet global demand for oil and gas, the thinking goes, that doesn't mean demand will slow — it just means other countries will increase production instead, and there it is. There are no guarantees Those countries will have a good environmental or human rights record.
“We are the only country in the world that has shot itself in the foot for a decade so that a small number of politicians can pat themselves on the back,” said Martha Hall Findlay, former head of the Department of Climate Change. oil company Suncor and a former Liberal MP who is now director of the University of Calgary's School of Public Policy.
Stories26:51The story of the Trans Mountain Pipeline
Outside the oil and gas emission cap, there is also Clean Fuel Regulation, Clean Electricity Regulations, Bill C-69 and Bill C-59. These policies are viewed by industry insiders as complex, burdensome and unfairly targeting their industry more than any other.
Richard Masson of the University of Calgary Public Policy School says the level of infighting and uncertainty surrounding policy has ultimately undermined the government's ability to meet its climate goals.
A prime example, he says, is the massive Carbon Capture and Storage (CCS) project proposed by the Pathways Alliance, a consortium of oil sands companies. CCS involves capturing and storing carbon dioxide underground, although some environmentalists Suspicious About safety and viability.
“There's been more than two years of debate about financial terms, backstopping for uncertainty, you know, things like that,” Masson said. “And so this massive investment that will help decarbonize oil sands production has yet to take shape.”
deserved praise
Trevor McLeod, former director of Enbridge and the Canada Waste Foundation, says Trudeau deserves credit for having environmental ideals — even if the implementation leaves much to be desired.
“I think the focus on emissions reductions was deeply needed and he deserves credit for that, but he seems to have deliberately cultivated conflict,” McLeod said. “That could limit its ability to make a real difference to the climate.”
Janet McKenzie, director of the Pembina Institute's oil and gas program, also gives Trudeau points for effort.
“It's obviously been a little bumpy in the last couple of years, but ultimately this government has moved forward with some pretty key pieces of oil and gas emissions regulation,” said McKenzie, with the Clean Energy think-tank.
In environmental circles, there has also been flack for Trudeau Not enough To crack down on emissions in the oil and gas sector.
Notably, he bought for the Trans Mountain Pipeline $4.5 billionDespite the cost and major pushback Environmentalists.
It took a lot of time and money to get this project to the finish line, however Since completion This has contributed to a huge increase in oil production. This has allowed the industry to reach international export markets and raised the GDP of both Alberta and the country.
“The fact that the federal government came in at the last (minute) was critically important, and it's shown to be very valuable not just to the industry, but to the country as a whole,” Hal Findlay said.
Still, she qualified the praise, saying the political uncertainty at the time of the purchase was so significant that the federal government had no choice but to step in.
Rafi Tahmazian, a retired energy portfolio manager, offered a similar critique.
“Our government was painted into a corner and had to do this, and we did it at the expense of Canadians,” Tahmazian said of the project. Major cost overruns.
Oil and gas prices rose on Monday
With Trudeau now set to leave office, the region is hoping for a more positive relationship with the country's next leader.
Already, the Canadian press reported oil and gas stocks climbed up On Monday news of Trudeau's resignation
“Today is a great day for energy investors. It's one I've been praying for for years,” said Eric Nuttall, partner and senior portfolio manager at investment firm Ninepoint Partners. BNN Bloomberg.
“Today's announcement, I believe, is the beginning of the elimination of the political risk discount that is being applied to our stocks.”
Still, it remains to be seen whether the changes at Rideau Cottage will end the feud between the industry and Ottawa.
After all, history has proven it too Initial excitement It doesn't always turn into a long and happy relationship.
