The new plant will increase natural gas consumption in Alberta.
The federal government is getting in on the deal, too, propping up the American company by an additional $300 million.
According to new Statistics Canada data, Alberta was producing record oil levels this summer. But they were doing it with thousands of fewer workers.
Despite UCP politicians insisting that Justin Trudeau is preventing Alberta from exporting oil, the amount of crude oil leaving the province last year surpassed the previous two years.
This marks 3 months in a row with the number of active drilling wells declining.
Earlier this month, Statistics Canada updated statistics for capital expenditures in the national oil and gas sector. The statistics now run from the first quarter of 2013 to the first quarter of 2022. Capital expenditures are what companies spent on such things as machinery, equipment, and buildings, as well as major repairs to these goods […]
Even though total production has been higher under the UCP, the pace at which it has grown has slowed.
Since 2014, Alberta’s oil & gas industry has increased annual production to an additional 4.1 million cubic metres. But they did it with 34,000 fewer workers.
Last month, Alberta’s oil and gas minister—er, I mean, energy minister—Sonya Savage tweeted out that 2021 saw oil production at record-breaking levels. Her tweet linked to an article written by Rob Roach, deputy chief economist at ATB Economics, which said that oil production was up 8% in 2021, reaching a new high of 1.32 billion […]
But we’re still below 2018 levels.