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ARC ENERGY IDEAS

Join Peter Tertzakian and Jackie Forrest from the ARC Energy Research Institute as they explore trends that influence the energy business, including financial, political, environmental, technological, social and economic forces.

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Join Peter Tertzakian and Jackie Forrest from the ARC Energy Research Institute as they explore trends that influence the energy business, including financial, political, environmental, technological, social and economic forces.

The Growing Anti-ESG Movement

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The backlash against the ESG movement is on the rise. ‘Anti-woke’ investment funds are launching and 19 US States wrote a letter to BlackRock, saying it is putting leftist politics above investor interests and returns.  Jackie and Peter debate if the ESG backlash could change corporate behaviour around climate and the environment.  Especially when you consider that, compared with the pro-ESG movement, the anti groups currently represent much less capital. 

Next, we invite our guest Radha Curpen, Vice Chair, Vancouver Managing Partner and National Leader, ESG and Strategy and Solutions, Bennett Jones to join us to provide an update on the legal aspects of ESG for corporations.

Content referenced in this podcast:

Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Sep 13 2022

28mins

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Charging into the Energy Transition: An Interview with Canadian Battery Technology Company Electrovaya

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One uncertainty about how the energy transition will play out is how prevalent battery technology will be in the future. 

Today’s lithium-ion batteries work well for short duration utility storage and electric cars, but they are not commercial for some other applications – such as long duration energy storage or heavy hauling.  Also, material supply constraints are increasing the cost of batteries and becoming a limit to growth.  

To understand the current and future state of battery technology, we welcome Dr. Rajshekar DasGupta, Chief Executive Officer of Electrovaya to our podcast.  

Electrovaya is a Canadian developer and manufacture of lithium-ion batteries that is based in Mississauga, Ontario. They are also developing proprietary solid state battery technology.

Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Sep 06 2022

32mins

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Summer Wrap-Up: US Inflation Reduction Act, AECO Gas Price Plunge and Other Headlines

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This week on the podcast, Jackie and Peter discuss some recent news. First, they talk about the surprise end to summer with the United States passing into law the Inflation Reduction Act (IRA).  The IRA includes $369 billion of spending on clean energy and supports the build-out of a clean energy supply chain in the United States and the EV incentives also help  free-trade partners and North American automakers. 

Next, Peter and Jackie talk about how Western Canadian natural gas prices crashed in the last few weeks of summer.  While the rest of the world is paying record high natural gas prices, the benchmark in Alberta – called AECO – was pricing near zero dollars.  Peter and Jackie talk about the price collapse and the causes.

Finally, they debate some recent news headlines.

Content referenced in this podcast:

Please review the ARC Energy Institute disclaimer.

Aug 30 2022

26mins

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Energyphile Story: Long Way Around

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In this episode we showcase one of Peter’s Energyphile stories “Long Way Around.”

In the preamble to the story, Peter and Jackie talk about Canadian energy security for oil.  A Strategic Petroleum Reserve (SPR) for Canada’s eastern provinces would have helped during the 1970s oil price shocks, but is it still relevant today? Should the Energy East oil pipeline be reconsidered as a way to increase Canadian energy security?

The Energyphile stories are also available on numerous podcast apps, including Apple iTunes Podcasts and Spotify.

Content referenced in this week’s podcast:

Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Aug 16 2022

23mins

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New Caps and New Concerns: Discussing the Federal Government’s Plan for Oil and Gas Emissions

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This week on the podcast we discuss the Canadian Federal Government’s July 2022 discussion document “Options to Cut Oil and Gas Sector Greenhouse Gas Emissions to Achieve 2030 Goals and Net-Zero by 2050.”    Joining the discussion is our guest Sander Duncanson, Partner, Regulatory, Environmental, Indigenous and Land at Osler, a Canadian business law firm.

There are two policy options being proposed.  Option one is a new cap-and-trade system for the oil and gas sector in addition to the existing provincial carbon pricing systems already in place.  Option two proposes to modify the existing carbon pricing systems in each province, setting more stringent rules for oil and gas.

Jackie, Peter and Sander express a number of concerns about the proposal; the inefficiency of pricing carbon higher for one sector of the economy, the potential for unintended consequences from overlapping policies, including the potential to harm to smaller oil and gas producers, and the policy could potentially face legal challenges from the provinces creating uncertainty that could ultimately slow down investment and reduction in GHG emissions. 

The discussion document is asking for feedback to be submitted by September 30, 2022 and sent to PlanPetrolieretGazier-OilandGasPlan@ec.gc.ca. We encourage people to participate and express their views on the proposed cap on emissions.

Content referenced in this podcast:

Please review the ARC Energy Institute disclaimer.

Aug 09 2022

48mins

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Canada Releases the Final Clean Fuel Standard (CFS)

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The final rule for Canada’s Clean Fuel Standard (CFS) was published in the Canada Gazette on July 6, 2022.   By 2030, the rule aims to reduce the emissions for Canadian suppliers of gasoline and diesel by over 15 percent (compared with 2016).

This week on the podcast, Jackie and Peter talk about the new rule.  While a draft version was published in December 2020, the final rule had some unexpected revisions. 

They also talk about Alberta carbon policy.  The provincial government issued a document for feedback on proposed changes to the large emitter program, called Technology Innovation and Emissions Reduction (TIER).

Content referenced in this week’s podcast: 

-        The Final Canadian Clean Fuel Standard

-        A Review of Alberta’s Technology Innovation and Emissions Reduction (TIER) Regulation

Please review the ARC Energy Institute disclaimer

Jul 26 2022

22mins

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Canadian Gas is Going Global: An Interview with Cheniere Energy and ARC Resources

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Earlier this year Cheniere Energy and ARC Resources announced a new supply agreement to export Canadian gas from an LNG facility located on the US Gulf Coast. 

This week on the podcast, Anatol Feygin, Executive Vice President and Chief Commercial Officer at Cheniere and Ryan Berrett, Senior Vice President, Marketing at ARC Resources tell us more about their agreement. 

Here are some of the questions that Jackie and Peter ask them:  How well positioned is North America versus other potential LNG suppliers to Europe?  By 2030, how much will US LNG exports grow compared with today?  Considering the long transportation distance, does it make economic sense to export Canadian gas from the US Gulf Coast?   With the increasing pull from international markets, do you expect North American gas production will grow? Are ESG attributes important to buyers of LNG?

See the press release about the Cheniere Energy and ARC Resources supply agreement: https://lngir.cheniere.com/news-events/press-releases/detail/247/cheniere-corpus-christi-stage-iii-and-arc-resources-sign

Please review the ARC Energy Institute disclaimer

Jul 12 2022

35mins

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Driving Home the Need for Residential Solar

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This week on the podcast we talk about Jackie’s recent op-ed “Blackouts Could Drive a Return to Home Solar” with our guests Gursh Bal and Kai Fahrion, who are the Co-CEO’s of Zeno, a residential home solar solutions provider. 

Jackie’s op-ed argues that, while reducing power bills has been the historical reason for installing rooftop solar, the biggest push in the future will come from the increasing risk of power outages due to extreme weather. Electric vehicles and new financing options are other factors that are reducing the barriers to adoption. 

Here are some of the questions Peter and Jackie asked Gursh and Kai:  What is the typical size, cost and payback on a home solar installation?  How can the Ford F-150 Lightning electric truck’s bidirectional feature increase home energy security?   Could a Canadian home go off-grid with these solutions? What is the outlook for residential solar? What are the common concerns when people consider home solar?

Other content referenced in this week’s podcast:

 Please review the ARC Energy Institute disclaimer.

Jun 28 2022

31mins

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An Interview with Kiewit: What is Next for North American Energy Construction Projects?

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Kiewit is one of North America’s largest construction and engineering organizations.  As such, the company has a unique perspective on the pipeline of new infrastructure projects in the United States and Canada.

To get a window into what is on the horizon for large energy infrastructure projects, Kiewit’s Matthew Thomas, Vice President, Carbon Capture and Travis Shearer, Vice President, Markets & Strategy, Oil, Gas and Chemicals join this week’s podcast.

Here are some of the questions Peter and Jackie ask them:  To what extent are inflation and higher interest rates impacting the pipeline of new infrastructure projects?  What is the outlook for carbon capture projects in North America?  Do you expect blue and green hydrogen projects to be constructed? How has the interest in North American LNG changed since Russia invaded Ukraine?  What other types of clean energy projects are under development? 

Other content referenced in this week’s podcast includes:

Learn more about Kiewit at: www.kiewit.com/

Please review the ARC Energy Institute disclaimer.

Jun 21 2022

29mins

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Oilfield Services Capacity: Hitting the Limits?

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In the depths of the COVID pandemic, oilfield activity ground to a halt and service companies were forced to shrink.  While oilfield activity levels have rebounded significantly, they are still below the pre-pandemic peaks. 

This week, Steve Glanville, President and Chief Operating Officer of STEP Energy Services and Shawn Martens, Co-Founder, VP of Operations at IronSight join the podcast.

Here are some of the questions that Peter and Jackie ask:  How much inflation are you seeing now?  Is there a labour shortage for oil and gas workers? If North American E&P companies decided to ramp-up their oil and gas production, would oilfield services be a constraint to growth?  Are oilfield service companies likely to invest in new equipment?  Are E&P companies early adopters or laggards when it comes to digital technology? 

Other content referenced in this week’s podcast includes:

Please review the ARC Energy Institute disclaimer.

Jun 14 2022

35mins

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The Sell-Off: What is Next for Clean Energy?

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The broad-based Invesco WilderHill Clean Energy ETF is off 60% from its peak in early 2021.  Riskier stocks on the clean energy spectrum have fallen even more.  For a more in-depth perspective, please see Peter’s commentary titled “What is Next for Clean Tech Companies” that explores how the beat-up equity markets will impact clean energy companies going forward and their strategies. 

To start off this week’s podcast, Jackie and Peter discuss the recent changes in the oil market, including the European Union’s decision to ban Russian oil and the news that OPEC+ will pump more oil this summer than initially expected. 

Other content referenced in this week’s podcast includes: 

Please review the ARC Energy Institute disclaimer.

Jun 07 2022

27mins

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North American Gas is Going Global

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Natural gas price has been climbing to near record highs in North America.  This week, Jackie and Peter talk about the reasons for high natural gas prices now.

Longer term, North American gas markets are undergoing a structural change. To reduce their reliance on Russia, EU countries are turning towards new gas suppliers including the United States. Consequently, a US build-out of LNG export capacity is starting.  The pull from more Canadian and US gas going overseas will change the gas markets. 

Peter and Jackie finish the podcast talking about the history of natural gas which has undergone many transitions. It started with coal gas and transitioned to nature or natural gas. The United Kingdom was once importing gas from the United States, then Europe grew domestic supply and imported more Russian production. Now the EU is transitioning away from Russia.  In the future, gaseous fuels are likely to transition towards clean hydrogen and Renewable Natural Gas (RNG).

Please review the ARC Energy Institute disclaimer.

May 31 2022

24mins

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Alberta Headline Replay: Politics, Court Decision on Bill C-69, Royalties and CCS Incentives

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While the Battle of Alberta is front page news, this week Jackie and Peter take a break from hockey and talk about some other game-changing local headlines.  

First, they talk about the political change with Premier Jason Kenney announcing that he is stepping down as leader of the United Conservative Party (UCP).  

Next, an Alberta court found the Impact Assessment Act (formerly Bill C-69) to be unconstitutional.  The Act defines the review process for large energy infrastructure projects in Canada.

After that, an update on the Canadian oil and gas industry’s fiscal pulse.  With higher oil and gas prices, the outlook for revenue and cashflow for 2022 has increased and can be viewed on the last page of our weekly ARC Energy Charts publication.  Today’s higher prices have significant implications for royalties, specifically, speeding up the timeline for oil sand projects to achieve the higher post-payout royalty rates.  

Finally, Peter and Jackie weigh in on the debate about who should pay for Carbon Capture and Storage (CCS) – federal and provincial governments, or industry.

Here's the Calgary Herald article Jackie mentions re carbon capture 

Please review the ARC Energy Institute disclaimer.

May 24 2022

31mins

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Powering the Net-Zero Transition in Canada: A Conversation with Heather Ferguson from OPG

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This week Heather Ferguson, Senior Vice President, Business Development, Strategy and Corporate Affairs with Ontario Power Generation (OPG) joins the podcast. OPG burned its last piece of coal in 2014 and has committed to being a net-zero company by 2040.  They have also expanded their generation assets beyond Ontario’s borders into the United States. 

Here are some of the questions Peter and Jackie asked Heather: How will OPG achieve net-zero by 2040?  Is the regulatory process in Canada a barrier to achieving net-zero? What is the state of OPG’s Small Modular Reactor (SMR) projects? How is OPG’s electric car charging business progressing?  Are interconnects across Canada a way to achieve net-zero electricity faster and at a lower cost? Who should pay for zero emissions electricity and infrastructure – the rate payer or the taxpayer?  How are Indigenous voices and concerns represented as OPG proceeds with new projects?

See OPG’s Climate Change Plan at  https://www.opg.com/climate-change/

Please review the ARC Energy Institute disclaimer.

May 17 2022

37mins

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The Next Age of Uncertainty: An Interview with Former Bank of Canada Governor Stephen Poloz

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This week we are delighted to have Stephen Poloz the former Governor of the Bank of Canada.  Stephen was the Bank’s Governor from June 2013 to June 2020 and was at the helm during the early days of the COVID-19 pandemic. Stephen just released a new book titled “The Next Age of Uncertainty” that outlines five tectonic forces that, when they interact together, will create more volatility and risk than the past era. 

Here are some of the questions that Peter and Jackie asked Stephen: How would you compare the inflation we face today to the period in the 1970s? How do higher interest rates work to reduce inflation? Are there other tools the central bank can use to control inflation? During the early 1980s high interest rates used to fight inflation caused a double dip recession, is that a concern now? What actions were taken by the central bank during the early days of the pandemic?  How concerned are you about Canadian housing prices? Why do you view the future to be more uncertain and volatile? 

“The Next Age of Uncertainty” is available for purchase from numerous retailers including digital and audio. Here is a link to purchase a hardcover on Amazon.ca: https://www.amazon.ca/Next-Age-Uncertainty-Riskier-Future/dp/0735243905

Please review the ARC Energy Institute disclaimer.

May 10 2022

44mins

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Leading in a Big Way: The Future of Small Modular Reactors (SMRs) in Canada

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This week John Gorman, President and Chief Executive Officer at the Canadian Nuclear Association (CNA) joins the podcast.  John recently wrote an op-ed titled “Examining the role of nuclear in Canada’s Emissions Reduction Plan.”

Here are some of the questions Peter and Jackie asked John: What is the scale and size of the new Small Modular Reactors (SMR)?  Is SMR technology safe?  What about the waste issue? When will the first SMRs be in operation? Is the electricity affordable? And, do you think Canada is poised for leadership in this new generation of reactors? 

To learn more about the Canadian Nuclear Association visit: https://cna.ca/

Please review ARC Energy Institute disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

May 03 2022

35mins

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Alberta’s $90 Billion Carbon Capture Storage (CCS) Opportunity

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This week we welcome to the podcast Jared Dziuba, Oil & Gas Market Specialist, BMO Nesbitt Burns and Rachel Walsh, Carbon Innovation Analyst, BMO Nesbitt Burns.

Jared and Rachel have authored several reports on the topic of CCS, including, “The Outer Limits: Exploring the Cost (Opportunity) of Canada’s Net Zero Pathways” and following the recent news of the federal tax credit for CCUS in Canada, they published “Durable Carbon Offset Revenue Still Needed to Drive CCUS.” 

Here are some of the questions Peter and Jackie asked them: Considering the new federal tax credit, what carbon price is needed to support new investments? How likely is it that the carbon credit market in Alberta will trade at this level?  Could the actual costs for building large scale CCS projects be greater than expected? How is Alberta allocating the subsurface pore space for storing carbon? 

If you would like to have access to BMO Nesbitt Burns research on CCS, please contact Jared directly at Jared.Dziuba@bmo.com

Please review BMO Capital Markets disclosure at:  https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

Please review ARC Energy Institute disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Apr 26 2022

36mins

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A Conversation with the Honourable Jonathan Wilkinson

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This week our guest is the Honourable Jonathan Wilkinson, Minister of Natural Resources.

The Canadian federal government has recently released some important energy and climate policy, including the 2030 Emissions Reduction Plan and the Canadian Federal Budget 2022.

Here are some of the questions Peter and Jackie asked Minister Wilkinson: How achievable is Canada’s greenhouse gas reduction goal of a 40 to 45 percent reduction by 2030? What has been the response to the plan from corporate Canada? What is the reaction to the CCS tax credit and what are the remaining barriers for projects moving ahead?  
With Russia’s invasion of Ukraine and the resulting energy price shock, is Canada prepared to increase hydrocarbon supplies? It takes a long time to build large energy projects in Canada, how can we move faster? What is the future of critical minerals and hydrogen in Canada? 

Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Apr 20 2022

41mins

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Energy Shock: Now and in the Longer Term

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This week Peter and Jackie talk about the recent developments in the oil markets, including the demand concerns from China’s recent COVID lockdowns, the large Strategic Petroleum Reserve (SPR) release and OPEC plus decision to stick with a small increase in supply next month.

They also consider the longer-term with Jackie’s recent commentary “History has a Lot to Say About Today’s Energy Shock.” By revisiting the oil shocks of the 1970s, you can find some learnings that are applicable to now.

Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Apr 12 2022

28mins

Play

iTunes Ratings

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Well Balanced Views

By Tano 007 @ YYC - May 05 2020
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I look forward to hearing Jackie and Peter’s perspective every week. It’s well balanced, Canadian centric and realistic. Thanks!

One of the better oil/gas industry podcasts

By nicolja - Mar 19 2019
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Great podcast!