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The Future of Oil & Gas in Alberta

April, 2020

The time to diversify our economy in Alberta was 30 years ago. Today, as Alberta faces a triple threat to our way of life: oil price war, social and political opposition to resource expansion and plummeting demand from COVID-19, there is only one way forward. 

In Liebreich's Article The Low Carbon Crisis, Senior Bloomberg Contributor explains how peak oil demand is already in our rearview mirror. The realities of Climate Change and the idea that living without the physical and natural constraints of our planet are no longer ignorable. The current Global Pandemic is a consequence of boundless extraction and expansion and our persistence in doing so will only continue to expose our vulnerabilities as a species. Economic recovery is only possible if the realities of Climate chance are taken into consideration.

Arguments have been made for years that, despite what Climate Advocates want or say, the demand for oil is only growing, for at least the foreseeable few decades. This argument was based on the fact that as the developing world likens itself more and more like the modern, western countries. Their dependence on oil and gas would mean boundless expansion for the industry. The development of these countries would mirror our increasing dependence on oil and gas, bringing millions of new economic opportunities to light. We also know that developing nations' ability to cope with viral outbreaks is often dependent on the support provided by the G8 countries, who are themselves coping with this deadly virus, and all the economic consequences. These countries will be devastated by this pandemic and their ability to 'modernize' significantly stymied as a result. As the world takes a pause, perhaps when and if modernity is once again on the table. New, low-carbon alternatives will already be a more attractive and viable alternative option. 

Liebrich also makes the case for low-carbon energy alternatives to be at the heart of any long term economic reinflation though the impact that commodity prices will have on the ability for every-day families to lift themselves out of the economic pitfall that has befallen them since the pandemic. "The best time to mend a roof is when the sun is shining" but our sunny days have passed and its important that we don't fall into conservative rhetoric that we must "fire up the economic engine, refill the coiffeurs, and then, only then can we consider investment in renewable energy." If we don't make low-carbon alternatives the basis of all government investment in the economy, our chances for long term growth will be severely limited. Today oil, prices are cheap, but they may not stay that way, especially given the volatility of international conflicts. If energy rates skyrocket, a family's ability to participate in economic recovery will be greatly inhibited. 

Apart from all the incredible and immediately perceptible benefits of reducing emissions (fish in the canals of Venice! a blue sky in Mumbai!), it's clear that Alberta is subject to forces far greater than we would like to believe our politicians have control over. With global demand slowing, technology advancing, and the desperation and unpredictable nature of the other geopolitical forces. Do we, as Albertans, want to continue bobbing along in a rising ocean of uncertainty? Or do we look around at the assets, talent, and ingenuity still lying around and get to work at building a resilient future?

To read and consider: 

Liebreich: COVID-19 - The Low Carbon Crisis

"If you think this will be over in a couple of months, I have some luxury cruise tickets to sell you."

Totale Becomes Latests Oil Major to Enter Floating Wind Market Greentech Media

In Oil Markets, It's back to 1998 Crisis Pricing Reuters

Taking Care of Vulnerable Albertans in a Crisis

March, 2020

There's no question that this pandemic has exposed so many flaws in our economic and social systems. However, the crisis is not affecting all in the same way and there is no question that the inconveniences of missing that concert you were looking forward to or problems loading your next binge-fest on Netflix is nothing compared to the immediate and possibly deadly situation many Albertans are finding themselves in. 

So many among us have been living on the edge for a while, one incident or missed paycheck away from empty cupboards or homelessness. So many minimum-wage workers were the first to be "relieved of duty" while companies scrambled to protect shareholders. 

Organizations that serve as "safety nets' in the best of times are not only struggling under unprecedented need but have, like so many, lost their major revenue sources and donors in the same instant. 

You may have heard of the idea floating around in mid-March of using hotel rooms to house and isolate overflow populations from shelters. In the blink of a press conference and a flurry of baseless excuses, the option was off the table. 

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Tell people more about the services you offer. Use this repeating layout to display content. It's an easy way to keep your customers up to date with what's happening. Want to make this content your own? Simple drag and drop elements like text, images and links, or connect to data from your collection. Tell people more about the services you offer. Use this repeating layout to display content. It's an easy way to keep your customers up to date with what's happening. Want to make this content your own? Simply drag and drop elements.

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