Pre-election budgets are rarely admirable. Money is spread around like pixie dust to curry the support of voters and to knee-cap opposition parties by borrowing their ideas. To a certain extent, the pre-election good news budget that Alberta Finance Minister Travis Toews delivered Tuesday follows this time-honoured political path, helped by $27.5 billion in oil and gas revenues in the 2022/23 fiscal year. And so, it is easy to chide the budget for populist policies like freezing insurance rates and capping post-secondary tuition fee increases at 2 per cent and for industrial policy measures for politically favoured industries (such as agricultural processing and film and television production). And there is the usual scattering of minor tax credits instead of a general cut in personal taxes – with no mention of a tax review geared to major reform, which the United Conservative Party proposed when it took office.
The article discusses various predictions and concerns for Canada in 2023, including inflation, economic growth, and tensions between resource-rich provinces and climate-frenzy Ottawa. The fastest-growing economies are predicted to be Guyana, Libya, and Venezuela due to oil and gas development and political stability. There is also a rise in environmentalists looking to end the fossil fuel industry, which is causing tension with oilfield workers. Housing insecurity and economic hardship are also concerns. Additionally, the article notes that Canada has spent millions of dollars on COVID isolation hotels due to a lack of notice of vacating.
The article discusses the North Saskatchewan River valley parks system in Edmonton, which is the largest urban park in North America. During the pandemic, the park system provided a much-needed opportunity for people to get outside and enjoy nature. The River Valley Alliance is a not-for-profit organization that aims to create a world-class trail system within the park, and the article argues that supporting this initiative is a smart investment that will pay dividends for years to come. The article also highlights the park’s potential for tourism and as an amenity to attract and retain top talent. The RVA plans to complete a 100-kilometre continuous connection from Fort Saskatchewan to Devon, but their funding will run out in 2025, and the article hopes that they will receive additional support to complete the project. The RVA will unveil the regional trail’s name later this year, chosen through collaboration with Indigenous Elders and knowledge keepers.
Dr. Jack Mintz gave a speech about federal-provincial relations and the role of the West in Canada. Western Canada is a large economic power but has weak political power. Dr. Mintz suggests that Alberta should consider more provincial autonomy to control its own life and create its own opportunities, and control its economic powers as well. He also discussed the need for a just transition for Alberta’s oil and gas sector, and the importance of affordability in energy policies. Dr. Mintz also touched on other topics such as the high tax rates in Canada, the need for more police forces, and the healthcare system. He suggests that the UCP and the NDP both agree on the need for developing more clinics and that they should be well-operated, and that the goal should be to move more things out to clinics. Dr. Jack Mintz believes that the centralization of power is occurring everywhere in government, and the only way to protect the interests of the provinces is through provincial leaders and governments. He also thinks that climate policies will take a long time to adopt and that the public is not ready for it. He comments on inflation, saying that Canada’s inflation is not as outlandish compared to other countries but is reckless with the checkbook. He believes that Canada’s indebtedness is much bigger than the official numbers suggest and that the country needs more national savings to fund future commitments.
In this discussion, a panel of experts explored the topic of the future of the energy industry in Canada, with a focus on sustainability and the transition to a low-carbon economy. The panelists shared their thoughts on various aspects of the industry, including the importance of partnerships, the need for comprehensive data, and the role of governments in shaping policies that promote innovation and sustainability. While there was agreement that the transition to a low-carbon economy presents challenges, the panelists also highlighted the opportunities that this transition can bring, both in terms of economic growth and in creating a more sustainable future. Overall, the discussion shed light on the complex and multifaceted nature of the energy industry in Canada, and the challenges and opportunities that lie ahead in the transition to a more sustainable future.
Ian Murray is the Owner, President, and General Counsel of IMC (Ian Murray & Company Ltd.). IMC is aSpecial Situation consulting company that focuses on challenges and opportunities that are outside of aclient’s core activities and involve new projects, products, markets, and technologies, as well asrestructurings and transformational challenges. Ian’s expertise and experience relates to […]
While I planned to talk about ‘The Good & The Bad of 2022’, there truly is an “Ugly’ component that can’t be overlooked because of its influence on the outcome. 2022 has been a challenging year, full of complexities, surprises and most concerning times. As the days wound down to December 31, it seemed the tone might have just carried forward into 2023 if things were not talked about. For me personally, it truly does feel like we have lived through one of the most difficult times in our country.
Our friend Michael Launer is an Albertan and a strong advocate for green technologies. He and his partners founded Annelida in 2018, an innovative ag-tech company that is positioned to disrupt conventional thinking in the agriculture sector. They have looked at the wider issues of conventional fertilizer use and its impacts on soil biology for producers. Without natural replenishment of microbiology back into the ground, the use of traditional fertilizers leads to depletion and degradation of the soil over time. Their team took on this challenge and is producing enhanced nutrient efficiency formulas – modern and effective regenerative ag solutions derived directly from nature.
The push to rebrand Calgary is on the table again. Is the reason to appear more cosmopolitan, or is re-branding the same as changing the curtains in the office when new occupants move in? It was said that some feel the city is dominated by corporate and cowboy culture, and it is difficult to fit in if you do not identify with either of those segments. It is also difficult to have a vibrant city without corporate dollars invested. And when did ‘cowboy culture’ become shameful? I was under the impression people choose a city for more opportunity or a more desirable lifestyle, not to change it to something they left – otherwise why move? Being a lifetime Calgarian myself, I admit this did set my nerves a bit on edge.
We are on a highway to climate hell with our foot still on the accelerator,” said Antonio Guterres, the Secretary-General of the United Nations, in his opening remarks at the COP27 summit in Sharm El Sheikh, Egypt. I neither contest the urgency that was ignited in 2015 when the historic Paris Agreement was adopted at COP21, nor deny how this urgent matter must maintain the spotlight. It remains the demand for all leaders of economies, me included, to rise up, promote, deliver, and defend the methodologies that are most properly suited to our cultures, our resources, and our people – our globe.