Brian Zinchuk is editor and owner of Pipeline Online
WEYBURN – Premier Scott Moe addressed a full house at the Saskatchewan Oil and Gas Show on June 3, telling the crowd of energy producers, “This is our moment.”
In the speech he spoke of how large scale investments in Saskatchewan are the new normal, and that part of that will be in increasing oil production “beyond what we even ever thought it could be.”
Here’s his speech, verbatim, as well as a video of said speech. Note the audio isn’t great for the first few seconds but improves in short order.
Thank you to the Board of Governors for yet another successful oil show right here in Weyburn, Saskatchewan. I, as well, want to acknowledge and thank our provincial cabinet. We came to come down here, most oil shows, actually, not just to attend, but we, we are so graciously hosted, so that we can have a cabinet meeting at this oil show, which I think is really indicative to not only how we generate wealth in this industry, in this part of the province, but the entirety of the province and our nation. This is a very, very, very crucial industry as we start to look ahead the next number of years.
Now, something you haven’t heard a politician say or be that positive or that bullish on in a number of years, but this is our time, and I’ll get to just a couple of comments on that in a moment.
I also want to say thank you to Steven Bonk and Andrew Scheer from the federal House of Commons that are here, our two of our representatives here in the province, and thank them for their support of this part of the province, but this industry as well across Canada.
And I want to first say, congratulations to all of the recipients that are here today, and thank you to everyone in the room for attending. I think it’s over 3000 people that are attending the oil show this year. Thank you to all of you that take time to attend such an important show, representing such an important industry, a Canadian industry, as we move forward.
But I also want to, more broadly, and I think more importantly, thank you for what you do each and every day in generating wealth for your family, generating wealth for your community, and generating wealth for our province and our nation. This is an industry that very much has a bright future.
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Despite what some may have said over the last number of years, this industry is the key to the success of Saskatchewan, Alberta, but also the success of Canada over the next number of not only months, but the next number of years. And I’ll make a comment or two on that right now.
We are well known in this province for feeding the world, powering the world, we’re well known for food, fuel, and fertilizer, as we talk of often.
But we are very much a leader in each of those industries, in how we produce them in a sustainable way, in an ethical way, in a competitive way, and provide some of the highest quality product that you can find on earth.
This is important: As the world recalibrates their need-to-haves versus their want-to-haves. You need to have energy, you need to have food, you need to have security of your nation, so that you are a sovereign nation. You need to have, in our case, work with our partners to ensure that we are a sovereign continent, and we’re starting to see some of that happen at the national level. But as I say, it needs to move and it needs to move quicker, and the way that you are able to actually ensure that you have that national, that continental sovereignty is to ensure that you have economic sovereignty.
And as we look ahead, there is no way easier, more straightforward, more important for us to achieve that, than enhancing the production of our energy industry and providing it to the world, starting with right here in southeastern Saskatchewan.
Governments have a significant role to play in this, and this has been at the heart of our discussion over the course of the last decade, the challenging role that some governments have had to play in this. We need to find a different conversation or different answers as we move forward, and maybe that starts with different questions being asked. And those questions are being asked by our global trading partners around the world.
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I had, not too long ago, the opportunity to be in a couple of different countries, and on each occasion, in addition to talking about uranium, and in addition to talking about canola, I always was sure to ask, if we were able to get more barrels of oil from our province in Western Canada to the west coast of our nation, would you buy them?
And the answer, each and every time, was unequivocally, absolutely, every barrel that you can find to that coast, we would be interested in buying. And they’re doing so today with the one line that is going out there.
It’s not long ago that we saw a federal government that had a very different view of this, and I hope it was a different view than where they are today. And we’re going to continue to push to ensure that where we’re going is different than where we’ve been.
But we knew that the views that former energy ministers at the national level were just simply not the case. Their views on energy production being a transitionary type of energy that the world may not need in the future simply aren’t the case.
We knew this wasn’t true because OPEC had said so. Both OPEC and the International Energy Agency demand increasing right out till 2050. That has been true all along, and it holds true today. I recently read a CAPP report that said that Saskatchewan is a place where the prairie grit meets global ambition. There is nowhere for us to provide that energy security to countries around the world, not just Canada, not just the United States of America, but to provide that energy security around the world. There’s no place better for that conversation to start than this province, and I would say no place better than the southeastern corner of this province.
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It’s your industry that helps us drive our provincial economy as well. Saskatchewan’s largest export to the United States: oil, close to $10 billion each and every year. Our largest trading commodity with the United States is oil. Much of that comes out of this part of the province, right here.
In fact, oil accounts for more than 25% of our national exports around the world, our international exports around the world. It employs 40,000 people in communities across this province.
We have done things to support this industry and support the up and comers, the youth that want to look for a valuable career in this industry into the future through our Distance Learning Centre in this province. And we were very happy and proud as a government to partner with the energy industry in Saskatchewan to put into place through the Distance Learning Centre a high school course, the Oil and Gas 20 course. It launched in 25-26.
I think there’s about 40 kids, 40 students, pardon me, they’re not kids, I’m getting old. Forty students that have enrolled and been through that course over the last year or two. And that is very much that course is available very much, thanks to the leadership that is in this room, thanks to the leadership of the oil show here, and thanks to the leadership more broadly of the industry across the nation.
There’s students like Kai and Maria who are here with us today, along with many more students that will be joining us tomorrow that are gaining real world experience, and they’re seeing this industry up close and personal from the inside.
That is a positive for where this industry is heading into the future. We are exposing our students, our young people, the very leaders of tomorrow, to an industry that is going to be so important and so vital to the economy locally, to the economy in our province, nation, and around the world.
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You will hear me and other politicians that have joined us here today from Saskatchewan. You will hear us talk about the economic success that we’re having in Saskatchewan, in particular the economic success of landing private sector investment in the industries that are creating wealth in our province.
You’ll hear us talk about 60 projects with over $62 billion of investment. That’s significant. It’s largely in the mining sector. There’s some in the value-added agricultural space. There’s some in an AI data center south of Regina, and there’s much other investment in expanding some of the products that we’re producing today.
I would just say this about that level of investment and what it represents in Saskatchewan. It’s unlike any time in our provincial history. We have never seen that type of private sector investment flow into our province; flow into our province, creating jobs, creating careers, creating opportunity for decades to come. And I would say that that’s the new normal.
It’s also not happening anywhere else in Canada right now, as we look at some of the economic prospects of our nation. And as we look ahead, it is going to be Western Canada that leads any economic prosperity that our nation is going to have over the next one, three, five and 10 years. It’s going to start here in the western part of our nation.
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But what is happening here in Saskatchewan is quite special, and I can’t describe it as anything else more than “This is our moment.”
This is our moment in this province. This is our moment to advance our economy beyond what we ever dreamt it could have been 10 years ago, or 20 years ago, or 30 years ago. This is our moment to say $60 billion of investment in our province isn’t an anomaly, it isn’t a once in a lifetime chance, it’s actually the new norm.
And we actively, as your government, are working with investment firms, private equity firms, working with the industry, the actual operators that’s going to advance these industries, and we can see the next $50 billion on the horizon.
So this is the new norm for our province. If we, as a province and a nation, get the next number of decisions right; six to 10 decisions.
I would say that we see in Canada today three, the three largest infrastructure projects in Canada today. Of those three, two are happening in this province where we live. The first is the LNG project on the coast, the west coast. The second is a potash mine, the Jansen Potash Mine in Saskatchewan, and a third is a data center south of Regina.
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What can happen if we, as provincial and national governments, get the next 10 decisions right is the investment that will flow into our energy industry is going to dwarf all three of those projects by significant, significant 10s and 20 and hundreds of billions of dollars.
We have an opportunity to take our oil production from what it is today to something far beyond what we even ever thought it could be. And we should not take a back seat in that conversation. We should be very bullish in that conversation, because if your concern is access to energy, so. Security, we can provide it if your concern is, how is that energy produced? We produce the most sustainable oil that you can find on this very planet. If your concern is, how is that product produced from an ethical perspective, we produce the most ethical, the most ethical energy product that you can find on earth. And we should be very proud, and we should be very bullish of what we do.
And so there is some work to do, and you see some of this happening in a very public way, and in Alberta, through the MOU sign. It’s now Saskatchewan’s turn to engage on what the future of our energy industry is going to look like, and know this, and know this very well: It is going to be your provincial government that is going to be at those negotiating tables, guided by the very people in this room, guided by the industries that are employing people in this community, this part of the province, and across the province of Saskatchewan, and we are going to do our level best to land in a place that is going to allow that investment to flow, and allow those drilling rigs to get back to work in a way that they never have in recent history, and allow us to be very proud of an industry that has created wealth for us as a province for so many years now. Allow the opportunity for that industry to continue to create wealth for our children, and for our grandchildren, for generations to come.
This is our moment as a province, and if we get these decisions right, I would say it’s going to be this province and this part of the nation that is going to allow any prime minister to stand up and say we have the strongest economy in the G7 nations and we are an energy super power, but we need to get those decisions right, and we’re going to ensure that we find our way to that.
So, thank you everybody for being here today.
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