Canadian Prime Minister Justin Trudeau and his cabinet are broadly "aligned" with Alberta and the need to develop pipelines to get the region's oil to market, the leader of the province said on April 24. Alberta Premier Rachel Notley said she had emerged from a meeting with Trudeau and his cabinet feeling that they shared ideas about pipelines and environmental concerns.
The left-leaning New Democratic Party leader is lobbying Trudeau's Liberal government to approve TransCanada Corp.'s Energy East Pipeline project in the event it clears the National Energy Board's review, which is underway.
Trudeau has previously said it is not his job to be a cheerleader for pipeline projects, but he is under pressure to help the province that once dominated Canada's economy develop its energy resources.
"There is a general sense we're aligned," Notley told reporters after meeting with Trudeau and several ministers. "I absolutely come away with the sense that we were able to effectively make our case."
The collapse of oil and gas prices has staggered the Canadian economy, and Trudeau has driven the budget into deficit to invest in infrastructure and boost growth in Alberta and beyond.
Trudeau and his ministers are in Alberta for a three-day cabinet meeting, and the choice of the province for his second cabinet retreat since his government took office last November suggests he's sympathetic to its economic plight.
Trudeau greeted Notley at the start of their 30-minute meeting noting "the important role Alberta has to play in the entire country's prosperity," but he did not speak to reporters afterwards.
Energy East, which would take up to 1.1 million barrels of oil per day from Alberta and Saskatchewan to Canada's east coast, faces increasing problems as environmental and aboriginal groups ramp up protests.
TransCanada and Alberta's landlocked oil sands industry are looking to Energy East to reach international markets after U.S. President Barack Obama rejected TransCanada's Keystone XL pipeline project to the U.S. last year.
Natural Resources Minister Jim Carr told reporters outside the Trudeau-Notley meeting that the approval process for pipeline projects remained the same as outlined in January.
Recommended Reading
The OGInterview: Petrie Partners a Big Deal Among Investment Banks
2024-02-01 - In this OGInterview, Hart Energy's Chris Mathews sat down with Petrie Partners—perhaps not the biggest or flashiest investment bank around, but after over two decades, the firm has been around the block more than most.
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.
Kissler: OPEC+ Likely to Buoy Crude Prices—At Least Somewhat
2024-03-18 - By keeping its voluntary production cuts, OPEC+ is sending a clear signal that oil prices need to be sustainable for both producers and consumers.
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.