Canada’s competitiveness on a global scale is becoming a bigger concern as the months go by for organizations, CEOs and industry leaders across the board.
Some people may say that these quotes are simply anecdotal and as a result shouldn’t be concerning. But given the multitude of executives and leaders in Canada all sounding the same alarm, that Canada is losing its competitiveness, what they are saying should matter to all Canadians.
These quotes aren’t an anomaly either. They’ve been consistent, coming from leaders doing business in all provinces and industries across Canada.
Here’s the latest 20+ quotes that should have everyone in Canada worried and be asking themselves: what needs to change?
The approval of the $40 billion liquefied natural gas project in Northern British Columbia is a huge win for the First Nations who find their communities along the associated up-and-coming pipelines and export terminal. This mega-project means jobs, careers, business opportunities and revenues for these Indigenous people and their communities for decades to come.
It also means lots of opportunities for all Canadians working in the oil and gas industry, especially in British Columbia and Alberta. At a time where oil pipelines have been suspended or cancelled all together, the BC LNG investment is a shining light in a rather dark outlook for Canada’s petroleum industry.
While this massive energy infrastructure project will benefit all Canadians, more specifically, here’s some hard facts showing a few important reasons why BC LNG matters to First Nations in BC.
- Also see: 3 Reasons Why Canada Needs BC LNG
Oil production in Alberta has increased alongside rising global oil demand. Canada’s provincial economic powerhouse produced 238,000 more barrels per day in the first 8 months of 2018 than it did over the same time frame the year before.
Extraction is also on the rise. Since 2010, Alberta has gone from producing under 2 million barrels per day up to more than 3.7 million barrels a day as of August 2018. That’s quite the jump, but not a surprise considering that global oil demand is expected to grow nearly 12% by 2040.Read more
If you follow the discussion on Canadian energy and the economy, chances are you’ve heard about the record setting price differential between Western Canadian Select (WCS) and the West Texas Intermediate (WTI) benchmark.
This discount on WCS has a profound effect on Canada’s economy; millions of dollars in government and private sector revenues are lost every day. You see, WCS is the main blend of heavy crude that Canada sells to the world. So, without access to other markets than the USA, Canada really has no choice.Read more
In Texas, millions of barrels of new pipeline capacity is under construction to get their oil to market. According to Bloomberg, major Permian Crude Pipelines projects currently underway include:
- Gray Oak – Complete in end of 2019 – 700,000 – +1,000,000 bpd
- EPIC – Complete in 2nd H of 2019 - 440,000 – 675,000 bpd
- Cactus II – Complete btw 3rd Q of 2019 – April 2020 – 585,000 – 670,000 bpd
- Permian-Nederland – Complete in mid-2020 - 600,000 – 1,000,000 bpd
- Permian-Gulf Coast – Complete in mid-2021 – 1,000,000 bpd
These are just some of the pipelines that will help increase shipping capacity to refineries off the Gulf Coast to meet rising global demand for oil.Read more
Have you heard about the multi-billion-dollar LNG project proposed in British Columbia? With a $40-billion price tag, the project is set to become the single largest investment into infrastructure in the province’s history!
There would be massive economic benefits for both the private sector and government, with thousands of jobs being created – peaking at 10,000 workers in 2021. Let’s not forget that oil and natural gas from Canada is produced to the highest environmental and human rights standards in the world!
We could discuss the environmental and economic benefits for British Columbia, Canada and the world when it comes to a new LNG project off the west coast. But to keep things much short-winded, here’s three practical reasons why Canada needs BC LNG:Read more
I remember growing up in Calgary in the early 90s when happy meals were five bucks and gasoline was just above 40 cents per litre. Back then I was a young child and my parents paid for it all anyways… ah, the good ol’ days when maintaining a job wasn’t even a fathomable thought.
I remember when my pops decided to get a new SUV and trade in his station wagon. The bill at the gas station pump almost doubled. How could my parents even afford this!? It seemed like so much money at the time. Oh, that’s right… my parents were both engineers and had good jobs. Growing up and advancing through the grades I began to learn about different career paths and admired my parents for what they were. They inspired me to follow the same road, so I did!
I also remember when the appeal of becoming an engineer in a province home to the world’s third largest recoverable oil reserves was too good an opportunity to overlook. The job market in the oil and gas industry was booming. Unlike my distant memories of cheap gas, happy meals and inspirational parents, this was during much more recent times.
Luckily for me, I graduated from the University of Calgary and got off to a good start a few years before the economy crashed in 2014 and have been able to maintain my job ever since. Other aspiring engineering students, fresh graduates and even industry professionals I know haven’t been so lucky as of late.Read more
Are you wondering about the facts when it comes to Canada’s oil and natural gas industry? There's been a lot of misinformation put out there about Canada's energy sector in the past several years... it's important that both sides of the discussion are heard and that the benefits of oil and gas in Canada are well known!
Here’s 25+ quick facts that will get you up to speed on the importance of this industry to Canada AND the world as a whole:Read more
As I said I would in my last post, I attended the Trans Mountain Expansion Project (TMX) Ministerial Panel Public Open House. Also as promised, I gave my presentation. I then sat through four hours of activists talking about why they don't want TMX. I detail my experiences at my personal blog but want to share the highlights of my post-presentation experiences here.Read more