10 Years of lost wealth and prosperity

This graphic was just posted by Liberal Party of Canada ? Parti Libéral du Canada MP Fran?ois-Philippe Champagne

Alberta's energy sector is the single biggest contributor to Canada's GDP and it is also the sector under constant attack by the Liberals Steven Guilbeault, Justin Trudeau and carbon tax proponent Mark Carney.

Danielle Smith's Alberta is clearly our path to wealth and prosperity, yet that province has been blocked time and time again by the Liberals and the New Democratic Party of Canada Jagmeet Singh

We are at an economic crossroads that has us reliant on one customer because of these policies

The failures to act and diversify:

Northern Gateway Pipeline (2016): Initially approved in 2014, this project was later rejected by the Liberal government in 2016, accompanied by a moratorium on crude oil tankers along British Columbia's northern coast. Approved under a Harper govt and rejected in 2016 by Justin Trudeau 's Liberals.

The Northern Gateway Pipeline was a proposed project by Enbridge to construct two parallel pipelines spanning approximately 1,177 kilometers (731 miles) from Bruderheim, Alberta, to a marine terminal in Kitimat, British Columbia. The westbound pipeline was designed to transport about 525,000 barrels of crude oil per day to international markets, while the eastbound pipeline would carry approximately 193,000 barrels per day of natural gas condensate back to Alberta.

The primary markets targeted included Asian countries, providing Canada with an opportunity to diversify its oil exports beyond traditional markets. GDP Growth: Estimates suggested that the project could have contributed approximately CAD $312 billion to Canada's gross domestic product over its operational lifespan.

Japan recently signed a deal with the USA.

Energy East Pipeline (2017): TransCanada (now TC Energy) cancelled this project in 2017, citing market conditions and regulatory challenges. The Liberal government's introduction of more stringent environmental assessment processes contributed to the project's cancellation.

The pipeline would be capable of transporting 1.1 million bpd. No more than 400,000 bpd would be required to replace the foreign oil being imported by tanker and rail. The remaining 600,000 barrels could be exported to new international customers for Canadian oil. The value of those new export revenues would conceivably approach $15 billion annually.

Economic Contributions:

• Investment: The project was estimated to require a $12 billion investment.
• Job Creation: Projected to create approximately 14,000 jobs during development and construction phases, with an additional 2,300 jobs during operations.
• Market Diversification: Aimed to reduce Canada's reliance on foreign oil imports by supplying refineries in Eastern Canada and providing access to international markets via marine terminals.

Keystone XL Pipeline: The Liberal government initially supported this project, but it faced multiple challenges, including permit revocations by U.S. administrations. TC Energy ultimately terminated the project in 2021.

Teck Resources withdrew its Frontier oil sands project in February 2020

For Premier?Kenney, the surprise pull-out was a result of “federal regulatory uncertainty and the current lawless opposition to resource development.”

For Conservative leader Andrew Scheer, it was “devastating news” and a result of the way “Justin Trudeau’s inaction has emboldened radical activists.”

https://thenarwhal.ca/11-things-you-need-to-know-about-the-oilsands-as-the-frontier-headlines-roll-in/

Teck Resources withdrew its Frontier oil sands project in February 2020, after investing approximately $1.5 billion into the development. The proposed $20.6 billion project would have been one of the largest oil sands developments in Canada, capable of producing around 260,000 barrels of oil per day.

The cancellation was seen as a major setback for Alberta's energy sector. It reinforced concerns that Canada’s regulatory environment discourages investment in major energy projects.Some industry leaders criticized the government for creating an uncertain investment climate that led to Teck’s withdraw

The project was awaiting federal approval from the Trudeau government. Teck cited uncertainty around Canada's climate policy as a key reason for withdrawal.

Mining sector also suffers from the Liberal govt.

Over the past decade, Canada's mining sector has experienced fluctuations in project development, with several projects being put on hold, canceled, or suspended.

According to Natural Resources Canada's Major Projects Inventory reports:

2022 Report: Nine mining projects valued at $13 billion were put on hold, canceled, or suspended over the past year.

Report: Fifteen mining projects valued at $10.4 billion were put on hold, canceled, or suspended over the past year.

These figures indicate that, in the two years spanning 2022 and 2023, a total of 24 mining projects were halted, with a combined potential investment value of $23.4 billion.

A 2019 study by the C.D. Howe Institute noted a slowdown in announcements of new energy and mining projects in Canada after 2015. Between 2017 and 2018, the planned investment value of major resource sector projects decreased by $100 billion, equivalent to 4.5% of Canada’s GDP.

Forestry in BC

I have done many interviews on Forestry including with the premier himself and the common theme is "it is in shambles and has been for some time" Canfor, one of BC's largest forestry companies, recently closed Bear Lake sawmill, suspending its planned investment in Houston and curtailed shifts Prince George.

The Canfor president blamed the BC govt and said access to fibre as one of the main reasons.

Watch video interview -‘There’s a lot at stake’: BC’s forestry industry lost 10,000 jobs in 2023

Bruce Rose said he would echo similar concerns brought up by Canfor, who blamed a shortage of fibre for the curtailment at the pulp mill in Prince George but also policy and regulations.

He pointed to Alberta’s “booming” forestry industry, which he estimated to be “about 60%” of the size of BC’s, but said BC’s industry continues to lose thousands of jobs per year.

The BC Council of Forest Industries told NowMedia the industry lost about 10,000 jobs in 2023.

Read the story and watch the interview

“People have this idea that you know we need to preserve this old forest. Well, the problem is in most of the province, particularly through the interior and in the north, fire has been dominating the landscape for thousands of years,” John Rustad said.

“We've removed fire from the landscape. There's a whole bunch of things that need to change with regards to that, but nothing will work when you have a government that just (doesn’t) seem to understand the forest sector.”

He said the NDP government doesn’t seem to care about the forest sector, workers or “good forest management.”

Rustad said David Eby ’s focus on “environmental votes” and ideology shows they don’t care about BC’s economy.

“They do not care about our forest sector, the backbone of so many communities across this province, and they're willing to sacrifice all of that just to try to get votes in the lower mainland,” he said.

“That is not a good government. That is not a government that we need in British Columbia.”

BC’s minister of forests says he was surprised by Canfor’s recent decision to curtail operations in three communities in Northern BC.

Earlier this month, the forestry company said it was closing a sawmill in Bear Lake, shutting down a production line at the Northwood Pulp Mill in Prince George and suspending a future investment in Houston.

At the time, the company said there wasn’t enough fibre for the Northwood Pulp Mill in Prince George but it also blamed policy and regulation changes that it claimed was the cause of a decline in harvest levels.

We need government to support the extraction of natural wealth that is in our land.

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