Alberta Highlighted in Global Energy Conference

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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Leaders in Alberta are outlining talking points that trumpet the oil-rich province as a player on the international stage amid geopolitical tensions in North America.

It's been a busy week for Alberta. First responders were working to tackle wildfires that have consumed some 600,000 hectares of provincial land this season so far, while political leaders were preparing to host delegates from the G7 advanced industrial economies during the upcoming weekend.

Also, Calgary invited hundreds of global representatives from the energy sector to attend this year's Global Energy Show. Haithan al-Ghais, the secretary-general of the Organization of the Petroleum Exporting Countries (OPEC), is the keynote speaker at this week's event.

Ahead of the meeting, provincial leaders laid out an itinerary focused on addressing global energy security amid changing trade patterns.

"The world needs reliable, responsible and affordable energy from a producer they can trust," said Brian Jean, the provincial minister of energy and minerals. "Alberta's vast resources are positioned to meet long-term energy demand and will be key in obtaining North American and global energy security and helping defeat energy poverty."

Thick material dubbed oil sands helps establish Canada as among the five countries with the most reserves, with an estimated 158.9 billion barrels. Total provincial oil sands production has increased more than 70% in the past decade to surpass 3.5 million barrels per day (BBL/d).

Much of that winds up in U.S. refineries tailored to process the thicker type of crude oil found in Canada, rather than the lighter oils founds in U.S. shale basins. A dense network of pipelines runs from Alberta to the United States, helping to establish Canada as the top crude oil exporter to the U.S. economy.

Alberta brings in tens of billions of dollars from its oil industry, with its oil accounting for the bulk of what's exported to the U.S. The province will get a chance to showcase its energy potential at the Calgary event at a time when North American relations are soured by U.S. President Donald Trump's trade agenda.

Internal political bickering saw Finance Minister Chrystia Freeland resign amid concerns of "economic nationalism." Former Bank of England Governor Mark Carney replaced long-time Prime Minister Justin Trudeau earlier this year.

Carney since taking office has stood up to Trump's rhetoric, while other leaders pressed for trade arteries that would expand Canadian options outside North America.

Legislators, meanwhile, introduced the One Canadian Economy bill. The aim of the bill is to facilitate a cohesive trade strategy that would "build investor confidence and get projects to investment and construction faster," including energy projects.

The Canadian Association of Petroleum Producers (CAPP), an industry lobby, estimates there are US$19 billion worth of energy-sector related projects under construction in Canada and another US$73 billion awaiting a final investment decision.

"Canada's oil and natural gas industry is ready to build, ready to grow, and ready to play its part in rebuilding our economy, securing our country, and strengthening our sovereignty," said Lisa Baitan, the president and chief executive officer at CAPP.

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