The updated forecast is based on a stronger commodity price outlook for 2021, with PSAC now expecting average crude oil prices 19 per cent stronger at US$50/barrel (WTI), natural gas prices of C$2.60/thousand cubic feet (AECO) and the Canadian dollar slightly stronger, averaging US$0.79. PSAC interim president & CEO Elizabeth Aquin said: “The strengthened commodity price outlook today versus what was expected back in October is welcome news for our members who provide the service, supply and manufacturing for energy development. As expected, global economic recovery gradually restores demand, it is helping to improve cash flows and balance sheets for our members’ oil and gas customers.
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While there’s plenty of talk about the energy transition now underway, 2020 will go down as a year of rapid economic transformation for Calgary with more oilpatch consolidation and continued expansion in the technology sector.
The past few days have highlighted these changes, from the blockbuster union of Cenovus Energy and Husky Energy that was approved by shareholders Tuesday, to the growth of LodgeLink Inc.
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The Calgary-based technology company, a subsidiary of workforce lodging provider Black Diamond Group, said Wednesday it expects to hire up to 600 workers in the coming five years, spurred in part by a grant from the city’s economic development fund.
December 21, 2020 EnergyNow Media
By David Yager
In 2021 an unintended but welcome consequence of the COVID-19 vaccine will be a major reduction in aspirational and often disingenuous predictions about the future of oil.
Using the time-worn adage of never letting a good crisis go to waste, since the pandemic gripped the world last March seemingly endless commentaries, forecasts and ideas have emerged predicting what petroleum’s fate could or should be.
The sources are as varied as the messages. But be assured climate change alarmists, anti-carbon campaigners, and advocates for more and larger government have exploited the opportunity.
Several major European oil producers have added credibility to the narrative by claiming they are exiting their legacy business.
It can no longer be free to pollute: Updated climate plan includes carbon tax hikes
The plan includes money to encourage heavy industry to reduce its emissions, for communities to make buildings more energy efficient, and for remote communities to get off diesel-generated power
Dec 14, 2020 10:00 PM By: Canadian Press
Minister of Infrastructure and Communities Catherine McKenna, Prime Minister Justin Trudeau, Minister of Canadian Heritage Steven Guilbeault and Minister of Environment and Climate Change Jonathan Wilkinson walk to make an announcement on the government s updated climate change plan, in the Dominion Arboretum in Ottawa, on Friday, Dec. 11, 2020. THE CANADIAN PRESS/Justin Tang