Newsletter: Emissions cap? ‘I’m pissed.’ Demand for LNG still growing. And more . . .

Our newsletter: 21 November 2024

Emissions cap? ‘I’m pissed.’

And Alberta’s premier was not alone in, with those words, slamming Ottawa’s planned emissions cap on oil and gas.

The Canadian Association of Petroleum Producers, for one, forecast “lower production, lower exports, fewer jobs, lower GDP, and less revenues to governments to fund critical infrastructure and social programs on which Canadians rely.”

Premier Scott Moe of Saskatchewan: “These new federal policies will have serious economic impacts on Canadians and limit our . . . Canadian energy products from providing heat and electricity to the world.”

Alberta’s energy minister, Brian Jean: “The 35% cut in emissions by 2030 is not realistic, the only way to do so is to cut production. This will result in over a million barrels cut per day by 2030 and 2.1-million by 2035, killing over 150,000 jobs and tens of billions of dollars a year. We must Scrap the Cap!”

CEO François Poirier of TC Energy: “An emissions cap, which will act as a cap on domestic production of natural gas, will harm Canadian families and businesses by raising prices on energy. It will also set back the global efforts toward climate change by slowing down the coal-to-gas switch underway that has been responsible for 55% of Canada’s total emissions reductions.”

• Read our full blog: https://ow.ly/Nbv550U8j0f

The emissions cap was much hammered by others:

• Energy leaders say Ottawa’s rules to cap oil/gas emissions won’t reduce world emissions, and are a ‘slap in the face to Indigenous communities.’ https://ow.ly/Noey50U68ho
• Ottawa’s emissions cap on oil and gas would create economic harm across the national economy. ‘The risks far outweigh the benefits.’ https://ow.ly/Rpgw50U66Vc
• ‘I would question whether putting caps on emissions right now is the right time.’ — Former federal finance minister Bill Morneau: https://ow.ly/1AFn50U63LO
• Ottawa’s emissions cap on Canada’s energy sector will cost 112,900 jobs by 2040, deliver minimal environmental gains, and shift production to overseas competitors: https://ow.ly/yuY850U4xbc
• In a podcast: John Desjarlais of the Indigenous Resource Network said Ottawa’s cap would hurt Indigenous participation in resource development, and Indigenous opportunity and self-determination. https://ow.ly/uxjw50U67r4

Demand for LNG still growing

As Canada Action put it, in a story that included the graphic above, Global LNG demand is projected to grow by more than 50% through 2040. “Developing LNG is an opportunity Canadian and Indigenous communities cannot afford to miss.”

Canada Action also pointed out that “energy forms the bedrock of the Canadian economy, accounting for hundreds of thousands of jobs, more than 10% of our economy, and 28% of our exports in 2023.

And it added: The BC LNG sector could generation $500 billion in economic activity (from 2020 to 2064) and could generate 96,550 more jobs a year.

• Read more: https://ow.ly/27G550U8hob

And from other sources:

• The global LNG market was valued at US$101.29 billion in 2023. It is projected to reach US$128.44 billion this year, and US$858.33 billion by 2032. https://ow.ly/qiuz50U3sVB
• Six US LNG projects look to Donald Trump to end, on his first day in office, the Joe Biden pause on LNG approvals: https://ow.ly/5OWn50U7umI

Indigenous energy news

• Fort Nelson First Nation plans more drilling for Tu Deh-Kah geothermal power project, with a target of operations by 2027: https://ow.ly/sjXr50U72er (Photo above)
• First Nations and Métis communities are playing a big role in helping Saskatchewan develop green energy solutions: https://ow.ly/4Zwa50U6ZcW
• Ottawa backs NWT hydro expansion project, which has Indigenous partners: https://ow.ly/gEZt50U7tgx
• BC First Nations deliver presentation, on renewable-energy initiatives, at COP29: https://ow.ly/tqcR50U7xy6
• BC Indigenous Clean Energy Initiative supports a net-zero future: https://ow.ly/IWnE50U9lpP
• First Nations Major Projects Coalition produces a win for the energy transition and a win for First Nations: https://ow.ly/7Slo50U5fbz
• New Ontario report calls for governments ‘to embrace First Nations leadership in the carbon markets.’ https://ow.ly/WBuc50U84In

ALSO IN THE NEWS

• 2024 has been a significant year for momentum in Indigenous economic reconciliation, including BC LNG projects. And the road to Net Zero goes through Indigenous territory.https://ow.ly/B6F750U5y55
• The Haisla Nation’s Cedar LNG project changed how relationships with Indigenous communities work in the energy sector: https://ow.ly/gal150U4rlj
• Woodfibre LNG announces Luke Schauerte, formerly with LNG Canada, as its new CEO: https://ow.ly/r7iX50U4mEc
• Taiwan is in talks with British Columbia LNG suppliers, and is ready to consider investment: https://ow.ly/NSVU50U8E58
• TC Energy sees North American natural gas demand increasing by nearly 40 billion cubic feet a day by 2035, and announces four new projects: https://ow.ly/S8AV50UakWm See also: https://ow.ly/gQ9A50UaWt1

EVENTS

• Tuesday Nov. 26: The Greater Vancouver Board of Trade’s Energy and Natural Resources Forum. Alliance CEO Karen Ogen will be a panellist. Info/register: https://ow.ly/nUhF50U3oKU
• The BC Indigenous Projects Summit, Nov. 26, Vancouver: https://ow.ly/yxvS50U0MP5
• Indigenous Clean Energy’s Changemakers Forum, Nov. 27, Toronto: https://ow.ly/T9Jf50TULJp
• Indigenous Clean Energy’s 2024 ICE Gathering, Nov. 27-29, Toronto: https://ow.ly/i9I950TULAG
• Canadian Council for Indigenous Business networking event, Nov. 28, Toronto: https://ow.ly/FiLM50TWk8i
• First Nations Energy Summit, Dec. 2-3, Vancouver. Info/register: https://ow.ly/Nulf50TXC2Y
• Canadian Council for Indigenous Business roundtable, Dec. 3, Gatineau PQ: https://bit.ly/3Cx2txU

2025

• Future Fuels Forum to ‘explore the future of hydrogen and sustainable energy solutions.’ Prince George, Jan. 13-14: https://ow.ly/6Nki50TE83B
• 22nd Annual BC Natural Resources Forum, Jan. 14-16, Prince George: https://ow.ly/BajJ50Tr1aU
• National Coalition of Chiefs, Clean Energy Summit, Feb. 13-14, Tsuut’ina Nation, near Calgary: https://ow.ly/TT0350TYQyr
• Canadian Institute’s Western Indigenous Consultation & Engagement conference, Feb. 20-21, Edmonton: https://ow.ly/4MsG50TUBpb (Discount code D10-999-LNG25)
• Canadian Gas Association Energy Security Summit, March 25-26, Ottawa: https://ow.ly/ozwT50TYNRA
• Nation2Nation Women’s Gathering, April 24-25, Kitimat BC: https://ow.ly/A8yo50SYpkv
• First Nations Major Projects Coalition, 8th annual conference, April 27–29, Toronto: https://ow.ly/jcSA50Ub44c
• National Aboriginal Capital Corporations Association, Indigenous Prosperity Forum, May 6-8, Gatineau PQ. Details TBA.
• Ninth Indigenous Resource Opportunities Conference, June 18-20, Nanaimo BC: https://ow.ly/m1rW50SHvIp

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(Posted here 23 November 2024)