David Yager: Visit rural Alberta and learn first-hand where the necessities of life come from

David Yager: Visit rural Alberta and learn first-hand where the necessities of life come from

But when I looked at the faces of the 500 people at the oil show banquet, I was struck by the thought that right now, Lloydminster may be the best place to live in the world. 
Food and fuel in limitless supply. Good jobs for everyone who wants to work. Affordable housing. Opportunity. Recreational facilities. Schools. A hospital shared by Alberta and Saskatchewan.  
And the crowd was universally happy, at least that night. After pandemic lockdowns and years of tough times, their oil show was back for the first time in four years. It was a proud and important symbol of a community and industry that was finally and firmly back on its feet. 

Estevan mayor on coal: “The closer we get without any good answers by 2030, the harder it is for everyone in our community. We deserve some answers”

Estevan mayor on coal: “The closer we get without any good answers by 2030, the harder it is for everyone in our community. We deserve some answers”

ESTEVAN – Estevan Mayor Roy Ludwig, upon hearing that further carbon capture projects on local coal-fired power plants was “not an option,” according to Crown Investments Corp. Minister Don Morgan, wants to know what the federal government is going to do to help his community. They’re not even responding to emails, he said.

Steel Reef picks up North Dakota assets near existing infrastructure

Steel Reef picks up North Dakota assets near existing infrastructure

CALGARY – On Sept. 19 Steel Reef Infrastructure Corp., through its wholly owned subsidiary Steel Reef US Corp., announced today it has closed a transaction to purchase certain associated gas gathering assets in the Burke and Mountrail Counties of North Dakota from Summit Midstream Holdings, LLC for a total cash consideration of US$40 million.

Canada’s environment minister does not jump to take up UN call for windfall taxes

Canada’s environment minister does not jump to take up UN call for windfall taxes

Environment Minister Steven Guilbeault isn’t warming to the idea of combating climate change by imposing a windfall tax on the massive profits being posted by some Canadian oil and gas producers.

During the annual UN General Assembly in New York City this week, Secretary-General António Guterres said fossil fuel companies are making massive profits and should be taxed extra to pay for climate action and deliver help to people struggling with their energy and food bills.

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AIMCo CEO rejects fossil fuel divestment as investment strategy

AIMCo CEO rejects fossil fuel divestment as investment strategy

The CEO of Alberta Investment Management Corp. (AIMCo) says divesting from fossil fuels is the opposite of what pension funds should be doing if they want to help solve the climate crisis.

Evan Siddall — head of what is one of Canada’s largest institutional investors, with $168.3 billion of assets under management as of the end of last year — said in an interview that AIMCo wants to be a leader in financing the transition to a low-carbon economy, but it won’t do that by divesting from fossil fuels as some global pension funds have done.

Further carbon capture on coal “not an option,” according to CIC Minister Don Morgan

Further carbon capture on coal “not an option,” according to CIC Minister Don Morgan

REGINA – Since the opening of the Boundary Dam Unit 3 Integrated Carbon Capture and Storage Project in late 2014, Saskatchewan’s coal-fired power industry, and Estevan in particular, has been waiting for a clear message from the provincial government whether it would pursue additional carbon capture projects. To date, nothing has come forward, but the minister responsible indicated on Sept. 20 it would not happen.

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Just like Saskatchewan, Alberta has heard nothing from feds on increasing oil production 300 000 bpd, despite minister’s promise to help Europe

Just like Saskatchewan, Alberta has heard nothing from feds on increasing oil production 300 000 bpd, despite minister’s promise to help Europe

LLOYDMINSTER – On March 24, one month after the Russian invasion of Ukraine, federal Minister of Natural Resources Jonathan Wilkinson pledged to Europe that Canada would increase oil production by 300,000 barrels to help with their energy needs. Six months later, it turns out neither the premier of Saskatchewan, Scott Moe, or premier of Alberta, Jason Kenney, have seen or heard any action from the federal government on this front.

Devine’s Upgraders, Part 6: Were the Lloydminster and Regina upgraders enormous money losers, or huge successes? The conclusion

Devine’s Upgraders, Part 6: Were the Lloydminster and Regina upgraders enormous money losers, or huge successes? The conclusion

For all the political strife over cost overruns of the two projects as they were built, and their initial struggles, the added provincial royalties in the 21st century made up for that in spades. And the further investment in northwest Saskatchewan’s heavy oil patch has far outstripped the money spent on the Bi-Provincial Upgrader, even when you adjust for inflation.
That, unequivocally, proves the investment in the upgraders was sound, and visionary. It just took a while to get there.

Devine’s Upgraders, Part 5: Were the Regina and Lloydminster upgraders worth it? The two upgraders’ massive impact on provincial revenue

Devine’s Upgraders, Part 5: Were the Regina and Lloydminster upgraders worth it? The two upgraders’ massive impact on provincial revenue

“Any reasonable entrepreneur in North America, if they had these resources, they would have done the same thing. Now, you had to be very determined about it, because it wasn’t easy. And you had the cyclical (nature) to deal with, but a lot of good entrepreneurs and business people, they know cycles. I would say it certainly contributed significantly to Saskatchewan, and it’s not going to change.”
Asked if there was anything he would have done different with regards to the upgraders, Devine said, “I’m sure we didn’t do everything right. But it did work out in the end.

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After climate bill passage, West Virginia natural gas plant unveiled with carbon capture

After climate bill passage, West Virginia natural gas plant unveiled with carbon capture

CHARLESTON, W.Va. (AP) — A Maryland company announced Friday it will build a natural gas power plant designed to capture climate-changing carbon in northern West Virginia. Officials said it was made possible by a recently signed law embraced by Democratic Sen. Joe Manchin that gives tax breaks for alternative energy projects.

Competitive Power Ventures of Silver Spring, Maryland, will construct the 1,800-megawatt plant in Doddridge County, a top producer of natural gas in the state. More than 1,000 union jobs will be used in the construction of the combined-cycle plant, and the natural gas used by the facility will support hundreds of additional jobs, the company said.

Devine’s Upgraders, Part 4: Regina NewGrade Upgrader, now part of FCL, has processed 16 million barrels of heavy oil per year for 30 years

Devine’s Upgraders, Part 4: Regina NewGrade Upgrader, now part of FCL, has processed 16 million barrels of heavy oil per year for 30 years

Gil Le Dressay has spent 43 years with Federated Co-operatives Ltd’s Regina refinery, starting as a process utility operator and working up to vice president of refinery operations then vice president of manufacturing. He said,
“The upgrader helped pave the way for renewed growth and optimism at our facility, and within the larger CRS. This includes the addition of Section V and the growth of gasoline and diesel sales within the CRS.”  
“Because of the upgrader, approximately, 40 per cent of our feedstock comes from Saskatchewan heavy oil.”

Oil and gas stocks make up bulk of the TSX’s top performers in 2022

A newly released ranking of the Toronto Stock Exchange’s top performers shows just how dominant Canadian oil and gas stocks have been in 2022 thanks to surging global energy demand and sky-high commodity prices.

The TSX 30 is an annual list of the top-performing stocks on the TSX over a three-year period, based on dividend-adjusted share price performance

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Devine’s Upgraders Part 3: The Lloydminster Bi-Provincial Upgrader doubled the city in size

Devine’s Upgraders Part 3: The Lloydminster Bi-Provincial Upgrader doubled the city in size

Lloydminster Mayor Gerald Aalbers said, “Without the upgrader, Lloydminster would likely be a community of under 15,000.”
The most recent 2021 census put the city’s population at just shy of 32,000, a marginal improvement from 2016.

After some pioneering work in using steam to produce heavy oil, trying several different extraction methods, Husky started building essentially cookie-cutter projects. Each involved a steam plant, and several well pads composed of well pairs using a technology called “steam assisted gravity drainage,” or SAGD. That might sound like a lot of technobabble until you realize the important points: Each of these thermal projects produces 10,000 barrels of oil per day, and cost $250 to $350 million a pop to build. And Husky built 11 of these projects in northwest Saskatchewan by 2020, prior to the onset of the COVID-19 pandemic and the corresponding crash in oil markets.

Brian Zinchuk: Canada’s promise to provide Europe with an additional 300,000 barrels of oil per day wasn’t worth a bucket of warm spit

Brian Zinchuk: Canada’s promise to provide Europe with an additional 300,000 barrels of oil per day wasn’t worth a bucket of warm spit

A March 24 story on CTV quoted federal Minister of Natural Resources Jonathan Wilkson, who said, “This is a crisis.”
“These folks in Europe are looking at the prospects potentially of not having fuel for the trucks that provide groceries for people to survive on or potentially not having adequate supplies of gas to heat their homes,” Wilkinson said.
Now, nearly six months after that, has the federal government done anything – anything at all – to move on that promise to Europe?
No. Not a damned thing.

Nearly six months later, the feds have not moved at all on 300,000 bpd promise to help Europe, according to Moe

Nearly six months later, the feds have not moved at all on 300,000 bpd promise to help Europe, according to Moe

LLOYDMINSTER – As a result of the Russian invasion of Ukraine, Europe is facing a major energy crisis this coming winter. Russia has shut off the taps for the Nordstream 1 natural gas pipeline, and energy prices there are through the roof. Nearly six months ago, the Canadian federal government pledged to increase oil production by 300,000 barrels per day to assist Europe in its energy needs. But in all that time, the government of Saskatchewan, the second largest oil producing province in the nation, has seen exactly zero action from that same federal government.