This week on the podcast our special guest is John Dillon, former Senior Vice President, Policy and Corporate Counsel at Business Council of Canada.  First, John joins Jackie and Peter in a discussion about the Alberta Election that is being held on May 29, 2023.  What can we learn from the past record of the two leading parties, the United Conservative Party (UCP) and the New Democratic Party (NDP)? What do we know about their plans for the future of Alberta’s energy industry?  Next, we ask John to reflect on his 32 years at the forefront of climate change policy in Canada.  How have corporate attitudes towards reducing greenhouse gas (GHG) emissions changed over that time? What policy changes are needed for Canada to make big reductions in GHG emissions by 2030 and achieving net zero by 2050?  Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/  Check us out on social media:Twitter: @arcenergyinstLinkedIn: @ARC Energy Research InstituteInstagram: @arcenergyresearchinstituteYouTube: @arcenergyresearchinstitute9600Subscribe to ARC Energy Ideas PodcastApple PodcastsGoogle podcastsAmazon musicSpotify

This week on the podcast Peter and Jackie discuss the results of a recent survey they conducted with a group of investors to understand their perspectives on investing in clean energy.  Do investors see an opportunity to generate strong returns in clean energy? Are they actively investing in clean energy? What do investors view as the most significant risks or uncertainties? Next, Peter and Jackie discuss why policy risk was one of the top concern areas for investors.  Why does policy risk rate high on the list of concerns?  What are the factors of policy risk that should be evaluated? Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ Check us out on social media:Twitter: @arcenergyinstLinkedIn: @ARC Energy Research InstituteInstagram: @arcenergyresearchinstituteYouTube: @arcenergyresearchinstitute9600Subscribe to ARC Energy Ideas PodcastApple PodcastsGoogle podcastsAmazon musicSpotify

This episode marks the 200th ARC Energy Ideas podcast!  Peter and Jackie start the podcast commemorating this milestone. Next, Richard Masson, Chair of the World Petroleum Council Canada joins the podcast. Richard tells us about the 24th World Petroleum Congress that will be held in Calgary from September 17 to 21, 2023. The conference is held once every three years and has been described as the world’s leading assembly for the petroleum industry. The organizers are expecting 15,000 visitors and 5,000 delegates from over 100 countries.  Finally, we wrap up the podcast with an update on Jackie’s solar panels, and how the economic return looks now with the first full year of actual operating data.  Content referenced in this podcast: The World Petroleum Congress website: https://www.24wpc.com/ Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/      Check us out on social media:Twitter: @arcenergyinstLinkedIn: @ARC Energy Research InstituteInstagram: @arcenergyresearchinstituteYouTube: @arcenergyresearchinstitute9600Subscribe to ARC Energy Ideas PodcastApple PodcastsGoogle podcastsAmazon musicSpotify

This week John Dalton, President of Power Advisory joins the podcast to provide an overview of the electricity markets in Atlantic Canada, including the provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island.  We also cover Quebec’s role in supplying electricity to the region.  Here are some of the questions Peter and Jackie asked John:  Is the Muskrat Falls hydro project operating yet? What is the final cost of Muskrat Falls?  Considering the high cost, do you expect other large hydro projects to be built in Eastern Canada?  What is the latest on the Atlantic Loop and Quebec to US transmission projects? Are the incentives and financing in Canada’s Budget 2023 enough to get transmission projects started? What was the historical agreement between Newfoundland and Labrador and Quebec for supplying electricity from Churchill Falls and how has that shaped the relationship between the two provinces on electricity?  Will Atlantic Canada have small modular reactors (SMRs) operating by 2035? Is renewable power generation (wind or solar) expected to grow in Atlantic Canada? Do you think Atlantic Canada will reach net zero electricity by 2035? Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ To see a transcript of this podcast, visit the link (scroll part way down the page):Atlantic Canada: Is Net Zero Electricity by 2035 Possible? (arcenergyinstitute.com)Check us out on social media:Twitter: @arcenergyinstLinkedIn: @ARC Energy Research InstituteInstagram: @arcenergyresearchinstituteYou Tube: @arcenergyresearchinstitute9600Subscribe to ARC Energy Ideas PodcastApple PodcastsGoogle podcastsAmazon musicSpotify

This week Michael (Mike) Rose, Chairman, President, and Chief Executive Officer of Tourmaline joins us as our guest. Tourmaline made some exciting announcements last week. First, they announced a partnership on a compressed natural gas (CNG) fueling station network across Western Canada to enable heavy-haul trucks to get off diesel.  The company also announced that they plan to double the amount of gas they ship as LNG by 2026. Here are some of the questions that Jackie and Peter asked Mike: How have Western Canadian gas producers survived low gas prices? Why is Tourmaline investing in natural gas stations for heavy-haul trucking now, considering it still has GHG emissions? Has Tourmaline reduced its environmental footprint, including greenhouse gas emissions? How challenging is it to achieve the federal government’s goal of reducing oil and gas emissions in the range of 40 to 45 percent by 2030? Are you exporting LNG to international markets today? Can Canada compete with the U.S. to supply gas to LNG export terminals on the U.S. Gulf Coast? How much WCSB gas could ultimately be shipped off Canada’s West Coast?  Other information referenced in this podcast:  Alberta Government’s aspirational plan to reach net zero by 2050 “Alberta emissions reduction and energy development plan.” Global News (April 18, 2023) “Tourmaline, Clean Energy Fuels to partner on natural gas fueling station network.” Bloomberg (April 18, 2023) “Tourmaline Aims to Double Portion of Gas Shipped as LNG by 2026.” Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/  To see a transcript of this podcast, visit the link (scroll part way down the page):Canadian Natural Gas Has Gone Global: An Interview with Mike Rose from Tourmaline (arcenergyinstitute.com)Check us out on social media:Twitter: @arcenergyinstLinkedIn: @ARC Energy Research InstituteInstagram: @arcenergyresearchinstituteYou Tube: @arcenergyresearchinstitute9600Subscribe to ARC Energy Ideas PodcastApple PodcastsGoogle podcastsAmazon musicSpotify

Listen to Peter and Jackie speak in front of a live audience with world-renowned photographer Edward Burtynsky at the office of GBE Energy in Calgary (recorded on April 14, 2023). Edward is regarded as one of the world's most accomplished contemporary photographers, known for his large-format images of natural environments altered by industry. His collections are included in over 80 major museums around the world.  Peter and Jackie talk about how Edward’s industrial pictures show the impact of human consumption on the Earth, including (among other things) oil and gas, farming, mining, and waste. Edward shares his views on energy, environmental sustainability, energy transition, climate change, and the growing footprint of humankind. Content referenced in this episode:  Edward Burtynsky’s website https://www.edwardburtynsky.com/ Edward talks about a popular picture he took of a nickel mine tailings pond in Ontario. https://www.edwardburtynsky.com/projects/photographs/tailings  The Paul Kuhn Gallery is hosting an Edward Burtynsky exhibition from April 15 to May 27, 2023 http://www.paulkuhngallery.com/  Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ To see a transcript of this podcast, visit the link (scroll part way down the page): Photographer Edward Burtynsky: A Picture is Worth 1000 Spreadsheets (arcenergyinstitute.com)Check us out on social media:Twitter: @arcenergyinstLinkedIn: @ARC Energy Research InstituteInstagram: @arcenergyresearchinstituteYouTube: @arcenergyresearchinstitute9600Subscribe to ARC Energy Ideas PodcastApple PodcastsGoogle podcastsAmazon musicSpotify

On April 2, OPEC surprised the markets by announcing a large production cut. Oil prices jumped about $5 a barrel on the news.  On March 28, the 2023 Canadian Federal Budget was released which included additional details on investment tax credits (ITCs) and other incentives to support clean energy investment. This week on the podcast, Peter and Jackie discuss both the OPEC cuts and the 2023 Budget. Content referenced: Canada Budget 2023 Jackie Forrest’s Globe and Mail Article from November 2022 “We built the railway in five years. So why are so many megaprojects now stalled?” Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/  To see a transcript of this podcast, visit the link (scroll part way down the page):OPEC Surprise Cut and Canada’s Budget 2023 (arcenergyinstitute.com) Check us out on social media:Twitter: @arcenergyinstLinkedIn: @ARC Energy Research InstituteInstagram: @arcenergyresearchinstituteYou Tube: @arcenergyresearchinstitute9600Subscribe to ARC Energy Ideas PodcastApple Podcasts Google podcasts Amazon musicSpotify

Albert Cheung, Deputy CEO, of BloombergNEF joins us as our guest this week.  BloombergNEF provides its clients with research on global commodity markets and the technologies driving the transition to a lower-carbon economy. Here are some of the questions that Jackie and Peter asked Albert:  How has the Inflation Reduction Act (IRA) changed your outlook for energy transition investment in the U.S.? How much did investment in energy transition increase in 2022 and what was the total level of investment?  What are the hot areas for investment?  Is current investing in clean energy deployments enough to be on track for achieving net zero by 2050? BloombergNEF data shows that in Q4 2022, 19% of new vehicle sales globally were electric, is that ahead of your expectations? What are your thoughts on Canadian clean energy investing?  Do you anticipate that the current market volatility, including bank failures, high-interest rates, and SPACs could reduce investors’ appetite for investing in clean energy? Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

This week Frank Davis, Assistant VP, Green Hydrogen and Canada Country Head at Pattern Energy joins as our guest.  Pattern Energy is developing a green hydrogen project at the Port of Argentia in Newfoundland and Labrador. The project will use renewable electricity to produce green hydrogen and convert it into ammonia.  Here are some of the questions that Jackie and Peter asked Frank: Tell us about the different parts of the project (electricity production to hydrogen and ammonia). Why did you select the province of Newfoundland and Labrador? How do you manage the variability of renewable power while running the ammonia plant 24/7? How much does the cost of green ammonia compare with hydrogen produced from fossil fuels? Would you look for 10 or 20 year take-or-pay contracts before proceeding with the project or is it a merchant model? How does Canadian policy for green hydrogen compare with the U.S. Inflation Reduction Act (IRA)? Content referenced:  Learn more about Pattern Energy’s project in Newfoundland: Argentia Renewables - Pattern EnergyUN IPCC AR6 Synthesis Report: Climate Change 2023 (see page 7 of the Summary for Policy Makers to see the infographic that compares to what extent future generations will experience a hotter and different world), Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Institutional investors are making pledges to reduce the emissions in their portfolio of investments. Most often the goals are tied to their scope 1 and 2 emissions (those controlled by a company they invest in). Occasionally, scope 3 emissions are also included in their goals (indirect emissions from a company’s value chain). While it is not common today, this podcast explains why scope 4 (also called avoided emissions) should be considered in green investment goals. Scope 4 emissions consider the big-picture impact by capturing the emission benefits when a company’s products are used.   For example, take an energy-intensive insulation manufacturer that has relatively high scope 1 and 2 emissions.  These high emissions could cause investors with strict requirements around reducing scope 1 and 2 emissions to not invest. However, when insulation is used in buildings, the emissions reductions are large.  These long-term emissions reductions from using the insulation are scope 4 or avoided emissions.  This example demonstrates how, by considering the scope 4 emissions, investors can see the big picture of their investment's climate impact. This week our guests tell us more about the state of emissions reporting, including scope 4 emissions. We are pleased to welcome Erica Coulombe, Vice President at Millani, and Marcus Rocque, Senior Research Analyst at ARC Energy Research Institute to the podcast. Content referenced in this podcast:  Report that outlines the GHG emission reduction goals of various Canadian pension funds “Building Climate Resilience In Canada’s Pension Funds” by Smart Prosperity Institute  Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

This week our guest is the Honourable Jonathan Wilkinson, Minister of Natural Resources. The Government of Canada is working on some key energy policies, such as the clean energy incentives in the 2023 federal budget and a Sustainable Jobs Plan. Peter and Jackie asked Minister Wilkinson these questions: How has the Sustainable Jobs Plan been received so far? Which provinces are joining the regional roundtables and what do you hope to learn from them? What is the progress on Canada’s Carbon Capture and Storage (CCS) policy? Do you expect any CCS projects to be sanctioned? What is the latest news on the Federal Government’s proposed cap on oil and gas emissions? How is Canada competing with the US Inflation Reduction Act (IRA)? What is the status of the proposed East Coast green hydrogen projects? Content referenced in this podcast:  Government of Canada’s Sustainable Jobs Plan Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

This week our guest is Jana Mosley, President of ENMAX Power. Headquartered in Calgary with operations across Alberta and Maine, ENMAX Corporation is a leading provider of electricity services, products and solutions. Jana is responsible for ENMAX’s regulated transmission and distribution business in Calgary. She also directs ENMAX’s power infrastructure, engineering and maintenance services. Here are some of the questions Jackie and Peter asked Jana: Why did ENMAX purchase the business in Maine? What is ENMAX doing to help customers with affordability and adoption of clean energy? Is net-zero electricity possible by 2035 for ENMAX? What are you doing to prepare for a growing number of electric vehicles (EVs), trucks and medium duty fleet vehicles?  Besides EVs do you expect other electricity load growth? Will Calgarians be able to use their EVs in their homes for battery back-up and for sending electricity back to the grid? Do you expect that there will be a need to build new wires and equipment to people’s homes to support EVs and other load growth?  Content referenced in this podcast: Jackie’s tweet about the peak energy load in Alberta for natural gas and electricity using ATCO data: https://twitter.com/JackieForrest/status/1605331565151924224 Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

This week our guest is Stewart Muir, founder and CEO of Resource Works,.  Resource Works is a public-interest advocacy and communications not-for-profit based in Vancouver, British Columbia. Their mission is to reignite the promise of Canada's economic future by leading respectful, inclusive and fact-based dialogue on natural resource development.  Here are some of the questions that Peter and Jackie asked Stewart:  How have politics in B.C. changed with the new Premier, David Eby? How is LNG viewed in B.C. now? Is LNG considered as green energy and a way to reduce the use of coal in Asia? What do you think are the chances for the second phase of LNG Canada? What is the sentiment from Indigenous groups on resource development? Explain the Blueberry River First Nations agreement with the B.C. government and how it impacts industrial development in other areas of the province? Do you expect large scale CCS projects to be developed in Northeast B.C.? Content referenced in this podcast: From Peter Tertzakian’s Energyphile “Stairway to Hell” the story of the ghost coal mining town of Bankhead Government of Canada’s Sustainable Jobs Plan Stewart’s new company Tersa Earth Innovations  Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

This week Peter and Jackie catch up on the latest news and topics of interest including: Russia to cut oil production by 500,000 B/d in March BP scales back their target to reduce their oil production by 2030  The collapse in North American and International natural gas prices Waiting for the Canadian Federal Government’s spring budget to learn about clean energy incentives policy The concern with articles that overpromise when it comes to clean energy technologies, including commentary on the article “Scientists Successfully Split Seawater to Produce Green Hydrogen” (OilPrice.com) Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ To see a transcript of this podcast, visit the link (scroll part way down the page):Catching Up: Russia, Oil, Natural Gas, Policy and Clean Tech Promises (arcenergyinstitute.com)

This week on the podcast our guest is John Graham, President and CEO of Canada Pension Plan (CPP) Investments. The mandate of CPP Investments is to invest the assets of the CPP Fund with a view to achieving a maximum rate of return without undue risk of loss. Here are some of the questions Peter and Jackie asked John Graham: What is the history of why Canada created the CPP and CPP Investments? What are your thoughts on 2023 with respect to geopolitics, threat of recession, inflation and volatility in general? Are you dampening your return expectations as a result of the weaker macro outlook? Is the CPP well funded to support Canadians who retire long into the future? Does the CPP have a net-zero 2050 goal?  Will you still invest in high carbon industries, for example steel, concrete or oil and gas? Do you have goals for investing in clean and green energy? What are the barriers for investing capital in clean energy? Could the US Inflation Reduction Act (IRA) attract energy transition focused capital away from Canada? There is an active debate in Alberta now about leaving the CPP, beyond contribution levels, what other factors should Albertan’s consider in this major decision? Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/   To see a transcript of this podcast, visit the link (scroll part way down the page): An Interview with Canada Pension Plan Investment’s President and CEO, John Graham (arcenergyinstitute.com)

In September 2022, Enbridge and 23 First Nations and Metis communities announced that the Indigenous groups would buy an 11.57% non-operating interest in Enbridge operated pipelines in the Athabasca region of northern Alberta for $1.12 Billion – it has been called the first of its kind and an historic announcement. This week, Justin Bourque, President of Athabasca Indigenous Investments and Colin Gruending, Enbridge’s Executive Vice President and President of Liquids Pipelines join the podcast to tell us more about the agreement.   Here are some of the questions Peter and Jackie asked Justin and Colin:  How will the agreement help the 23 communities who are now equity partners in the pipeline system?  How did Athabasca Indigenous Investments finance their share of the pipeline for over $1 billion? What was the process like – who made the first phone call and how long did it take to come to an agreement? Do you foresee more equity partnerships occurring in the future? What is your advice for how companies should participate in Indigenous reconciliation? Content referenced in this podcast: Book Recommendation: 21 Things You May Not Know About the Indian Act by Bob Joseph  Enbridge’s Indigenous Reconciliation Action Plan including the artwork of Jason Carter  Athabasca Indigenous Investments   Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/  To see a transcript of this podcast, visit the link (scroll part way down the page):  Making History: Enbridge Partners with Indigenous Communities on Pipelines (arcenergyinstitute.com)

This week on the podcast our guest is Blake Shaffer, Assistant Professor in the Department of Economics and School of Public Policy at the University of Calgary.   We cover a range of topics about Alberta and Canada’s electricity markets.  Including revisiting the tight power market that Alberta experienced during the  December 2022 cold spell, the issues and opportunities that come from the ramp-up of Electric Vehicles (EV), and finally the prospects for achieving net-zero electricity by 2035 in Canada.  Here are some of the questions Peter and Jackie asked Blake: Does Alberta’s Electricity Systems Operator (AESO) need a better system for asking residential consumers to reduce their demand in times that the power system is in short supply?  How are electrical system distributors preparing for the coming influx of EVs?  Will people adjust their charging behavior to help the electrical system accommodate more EVs? Do you think Canada can achieve net-zero electricity by 2035? Will large transmission lines between provinces be required to achieve net-zero?  How could net-zero impact consumer’s utility bills in 2035?  Content referenced in this podcast: Follow Blake on Twitter @bcshaffer https://twitter.com/bcshaffer Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/  To see a transcript of this podcast, visit the link (scroll part way down the page): Can the Grid Handle EVs? (arcenergyinstitute.com)

Carbon credits are coming under increasing scrutiny. The Guardian ran an article last week that alleged that 90% of rainforest carbon credits issued by Verra, manager of the world’s leading voluntary carbon markets program, the Verified Carbon Standard (VCS) Program, did not represent genuine offsets.  And, comedian John Oliver made the entertaining case that carbon offsets do not deliver the emissions benefit that they claim.  This week, our guest Dirk Forrister, President and CEO of the International Emissions Trading Association (IETA) helps us understand the current state of the carbon markets. Here are some of the questions that Peter and Jackie asked Dirk: What is your response to the critics of carbon markets – including John Oliver and The Guardian? To improve credibility, some groups are advocating that avoidance credits should be banished, and only removal credits should be supported – do you agree with that perspective? When do you expect that countries can trade credits across borders? Does the Article 6 agreement ,made during COP 26, facilitate international trade? Do you think Canada could use Article 6 to offset the emissions for operating LNG export terminals?  Are you concerned by the price volatility in carbon credit markets? Content referenced in this podcast: Our weekly publication, the ARC Energy Charts has our 2023 outlook for the Canadian oil and gas industry revenue, cash flow, and capital spending – see the last page The Guardian, January 18, 2023 “Revealed: More than 90% of rainforest carbon offset credits by biggest provider are worthless, analysis shows” John Oliver show on carbon offsets  International Emissions Trading Association (IETA) website: https://www.ieta.org/ Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/  To see a transcript of this podcast, visit the link (scroll part way down the page):  Are Carbon Offsets Credible? (arcenergyinstitute.com)

This week, Yvan Cliche, Fellow at CERIUM (Center for International Studies and Research) at Université de Montreal talks about the opportunities and issues for Canadian energy, including his perspective from Quebec. Here are some of the questions that Peter and Jackie asked Yvan: Will renewables lessen the dependence on oil and gas any time soon? Is Canada doing enough to help our allies during the Russia-Ukraine war?  Does a cap on oil and gas emissions make any sense during a period of war and energy shortages?  What do Quebecers think about oil pipelines in their province?  What about LNG exports from Quebec? Is Quebec considered energy secure now? How could that change in the future? What are some of the interesting possibilities for Quebec energy in the future? Content referenced in this podcast:  Yvan Cliché’s recent book titled: “Jusqu'à plus soif: Pétrole-gaz-solaire-éolien : enjeux et conflits énergétiques” - English translation: “Until no longer thirsty: Oil-gas-solar-wind power: energy issues and conflicts”. Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ To see a transcript of this podcast, visit the link (scroll part way down the page):  A Conversation on Energy and Quebec (arcenergyinstitute.com)

Peter and Jackie start the year off by introducing nine topics that are likely to dominate energy and climate discussions in 2023. China – Zero-COVID policy relaxation consequences Ukraine war outlook Inflation outlook Commodity price outlook – Which way? Up, down or both? Year of the EV pickup truck Canada’s response to the US IRA and other climate policy Green-on-green competition begins First FID on major CCS projects in Alberta LNG in Canada outlook Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ To see a transcript of this podcast, visit the link (scroll part way down the page):  Nine Themes to Watch in 2023 (arcenergyinstitute.com)