Social distancing requirements mean things like the speed networking and in-person networking will not be able to take place, but this event will still seek to get information to its participants, according to Anderson. Eric Nuttal, partner and senior Portfolio Manager with Ninepoint Partners LP, is the keynote speaker. He recently spoke in a similar event held by the Canadian Association of Oilwell Drilling Contractors, providing a positive outlook for the oilpatch. Anderson noted that there’s a little broader focus, including things like lithium and hydrogen. All of those are being developed with oilfield services. The one-day online event will have speakers from oil producer Crescent Point Energy Corp., pipeline company TC Energy, refiner Federated Co-operative Limited, geothermal pioneer Deep Earth Energy Production, SaskEnergy, Prairie Lithium/LiEP Energy, Royal Helium, new micro-refinery Independent Energy Corporation, SaskPower on its Moose Jaw power plant, and hydrog
Feds’ Clean Fuel Standard Drives Concerns Over Design, Cost, Implementation
New hurdle demands further adaptation for carbon-intensive sectors already under duress
News Analysis
The feds’ latest weapon in their war against carbon emissions is the clean fuel standard (CFS). However, considerable concern is being raised about its implementation, cost, and synchronization with other climate change policies, which if not handled well might deal a heavy blow to the Canadian economy.
The CFS’s track record for emissions reduction has been shown to be dubious. However, its biggest benefit might end up being its incentivizing clean energy innovation, with California as a possible guide.
Trudeau said, “As we continue to address the impacts of COVID-19 and ensure our strong economic recovery, we must also continue to fight climate change for the good of Canadians, our economy, and our planet. Canadians don’t have to choose between clean air and good jobs. This strengthened climate plan will help us build a healthier, fairer, and more resilient future that we can be proud to pass on to our children and grandchildren.” The plan repeatedly refers to “carbon pollution.” The carbon tax started in 2019 at $20 per tonne, and was initially meant to rise $10 per tonne each year to 2022, when it would then be $50 per tonne. The new announcement will mean an increase of $15 per tonne for the eight following years, such that by 2030, the tax will be $170 per tonne. The federal government’s backgrounder noted this will be done “while returning the proceeds back to households such that the majority receive more money back than they pay in provinces where the fede
“Our top priority continues to be getting Saskatchewan oil and gas service workers back to work,” Energy and Resources Minister Bronwyn Eyre said. “The ASCP prioritizes Saskatchewan companies and is widely regarded as pragmatic, efficient and fair.” The Phase One allocation was $100 million in program funding ($400 million total), which was announced in May of 2020, as part of the federal COVID Economic Response Plan. In Saskatchewan, more than $94 million in work packages are currently on track for allocation by the end of 2020, in every oil and gas region of the province including $33 million in Estevan, $17 million in Swift Current, $16 million in Kindersley and $28 million in Lloydminster.