Many Albertans expect Pierre Poilievre to win the federal Conservative leadership on the first ballot. Read more.
The economic and political winds are shifting in Alberta. The many people I spoke to recognize the challenges ahead, whether inflation, labour shortages or energy transition. But Albertans don’t look to governments to provide handouts to shelter them from change. They rely on their own initiatives to improve their livelihood. They want governments to facilitate change but not impede it, even if that means getting out of the way with deregulation, program spending cuts or tax reforms.
Many people I talked to are very positive about Alberta’s long-run prospects. Entrepreneurs are diversifying into new sectors, whether clean energy, manufacturing, agriculture, finance, mining or venture capital. Though profitability remains strong in oil and gas that’s not translating into new investments, except to improve operational efficiency. Enbridge, for example, can expand its pipeline capacity to the U.S. by 350,000 barrels per day without building a new pipeline.
Along with many other Canadians, Albertans recognize that energy is the most important contribution Canada can make to the Western alliance. Yet we have no LNG plants operating today and only one will be completed this decade. The U.S., which imports our natural gas, has eight exporting terminals with three more under construction. In sum, not only do we have little defence capacity, but we can’t meaningfully expand our energy production to help Europe.
Why aren’t investments in both traditional and new energy taking off? The resounding answer I heard comes down to federal obstruction. Canada is rushing into an energy transition by 2035 with no feasible replacement for our large-scale use of fossil fuels. This will eventually lead to high energy prices and shortages, which will cripple our competitiveness. The federal regulatory system, with its elaborate processes and woke requirements, means applications are costly and time-wasting.
This frustration with “Broke Canada” and unfair federal treatment of Alberta is carrying over to provincial politics. Interest in a fairer deal or maybe even separation has not abated. Danielle Smith, one of four leading candidates for the leadership of the governing UCP, has connected with many frustrated members with her proposed “Sovereignty Act,” based on the “” of Rob Anderson, Barry Cooper and Derek From.
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