The federal government has released its framework to phase out fossil fuel subsidies, saying it will make Canada the first G20 country to follow through on a 2009 pledge to phase out government support for the sector. “By eliminating inefficient fossil fuel subsidies, we are encouraging smart and efficient government investment decisions that can increase…
Feds Release Framework to Phase Out Fossil Fuel Subsidies
July 24, 2023
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Assessment Framework and GuidelinesCanadaclimate changeEnvironment Ministerfossil fuelsoil and gasSteven GuilbeaultWorld
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Alberta and Federal Environment Ministers Have First Face-to-Face Meeting
Alberta’s new Minister of Environment and Protected Areas Rebecca Schulz had an in-person meeting Wednesday with her federal counterpart, Environment Minister Steven Guilbeault, and discussed Ottawa’s pending electricity regulations and emissions, but it wasn’t clear how much consensus, if any, the two jurisdictions reached on the issues. “I informed Minister Guilbeault that our government remains…
Canadian Oil Investors Remain Upbeat, Call for Greater Investment and Production
The first half of 2023 was rough on Canadian oil and gas stocks after a stellar 2022, but bullish sentiment remains. Investors single out as obstacles an adverse policy environment and sentiment toward the industry, and point to the need for ongoing capital investment as the green energy transition stutters. Eric Nuttall, a leading oil…
EPRINC Report Shows That IEA Net Zero Roadmap Is a Green Mirage
June 22, 2023
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Analysisclimate changedecarbonizationenergy crisisenergy transitionESGfossil fuelglobal warmingIEAnet zerooil and gasOpinion
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News Analysis Two years ago, efforts by climate activists and Environmental, Social, and Governance (ESG) investors to block investment in oil and gas production by Western companies appeared to have received a seal of approval from no less an authority than the International Energy Agency (IEA), when it published “Net Zero by 2050: A Roadmap for…
‘Sustainable Jobs’ Transition Sparks Fear of Oil and Gas Industry Phase-Out
June 21, 2023
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Business & MarketsCanadaCompanieseconomic policiesenergyjust transitionoil and gassustainable jobsWorld
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Ottawa is proposing a major workforce shift toward a net-zero economy, calling it a transition toward sustainable jobs. With the plan being based on a definition of “sustainable” that the feds say will stay fluid over time, it’s causing widespread fears of a phasing-out of the oil and gas industry. Bill C-50, known as the…
Trade Union Demands Clarity From Labour Over Halting New Oil and Gas Production
Trade union Unite called on Sir Keir Starmer to clarify that workers will not pay the price should any plan to block new North Sea oil and gas developments be announced by the Labour Party. Unite General Secretary Sharon Graham said on Wednesday that tens of thousands of workers in North Sea and supporting industries…
House Republicans Challenge Democrats to Support Domestic Energy Package
House Republican leadership touted their Lower Energy Costs Act as a “historic” move toward energy affordability and independence that eco-friendly Democrats would do well to support. “For those that are supporting—whether its Saudi Arabia, or Venezuela, or Iran—producing more oil, they’re actually hurting the environment because nobody has better standards than the United States of…
White House Vows to Veto House Republican’s Pro-Fossil Fuel Energy Package
The White House is threatening to veto the House Republicans’ pro-fossil-fuel legislative package that defies President Joe Biden’s progressive climate-focused agenda. The 175-page bill, known as the Lower Energy Costs Act and given the symbolic priority of H.R. 1, is heading to a vote later this week. The package includes measures that would, among many…
Alberta Announces Plan to Crack Down on Oil Companies Owing Unpaid Property Taxes
The province of Alberta announced Monday it will order that any oilpatch company that owes unpaid municipal taxes will not be able to receive a new license or transfer an existing license. Energy Minister Peter Guthrie said he is issuing a ministerial order under the Responsible Energy Development Act that will require the Alberta Energy…
Energy Stocks Should Pump out More Gains
By Kim Clark From Kiplinger’s Personal Finance The gusher of rising energy stock prices, which has sent the sector up 66 percent in 2022 on top of 55 percent in 2021, may finally be calming a little. But there’s still plenty of oomph left for volatility-tolerant investors to reap rich profits in energy stocks in…
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