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Newsletter April 4, 2022

A word from the President

2022 - Another challenging year

Someone once wrote that anyone who wished for a quiet life did not do well to be born in the 20th century. As we begin 2022 that statement could be extended to apply to the 21st as well. We face the ongoing challenge of adapting our energy systems to minimize or – hopefully – eliminate their impact on climate. Within the last two and half years, we have had to deal with the most serious human health crisis in over a century. And now, just as the pandemic shows signs of becoming manageable, we are faced with war in Europe. The events of the first quarter of the year have dramatically increased the challenges facing the energy sector.

In 2021 the ECC named the Frontline Canadian Energy Worker as our Canadian Energy Person of the Year. We wanted to thank and celebrate the men and women who have gone to work every day through challenging times to keep us warm, keep the lights on, and keep our economy functioning.
 
Now, we face war in Ukraine. All of Europe is in the shadow of economic and, possibly, military threat. The Canadian energy sector must grapple with how to support our allies and fellow democracies, while at the same time keeping our workforce healthy and continuing the battle to stabilize the climate.

The coming years, at least, seem not to promise us a “quiet life.”

Round-up of recent ECC activities

Canada’s energy industry associations assembled in late January to share their views on 2022 in the Canada Energy Update forum. The event attracted over 150 participants online. Members’ representatives, as well as guest presenters, reviewed where their industries are now and what they anticipate for the remainder of the year. The event was coordinated with the United States Energy Association’s (USEA) 18th annual State of the Energy Industry Forum. We plan to make the Update an annual event and continue to coordinate it with the USEA Forum.

The latest in our Energy & Espresso series was held on February 15th. The series provides young members of the energy industry especially, the opportunity to learn about industries outside of their own and to discuss career pathways in the energy sector. Matthew Maringer and Kevin Tsang led last month’s discussion, which focused on developments in the nuclear industry.

n the first quarter we added the Canada’s Energy Story to our website. This is the new name for what used to be called the Compendium. This year’s theme highlighted stories from the energy industry that demonstrated the value of the sector’s connections to international markets. At the same time, ECC launched a mini-site to support our signature initiative, the North American and International Outreach program (NAIO). The initiative’s primary goal is to bring awareness of the capabilities and resources that Canada can supply to international markets.

IN THE NEWS

Ukrainian flag on a military uniform, war. Soldier Armed Forces of Ukraine. Territorial defense

Ukraine: On 24 February Russian troops crossed the border into Ukraine and were met by Ukrainian resistance. Ukrainian allies responded by enacting severe sanctions on the Russian economy, including announcements by Canada and the US that they would no longer accept imports of Russian crude.

Energy Council of Canada launches NAIO website: In the first quarter of 2022 ECC unveiled a mini-website to explain and promote the Council’s North American & International Outreach program. The mini-site is nested within the main ECC website. It contains input from both industry and government. NAIO is ECC’s signature activity.  It is designed to promote and tell Canada’s energy story better and more broadly than ever before. Its goals are to:

  • Promote and enhance Canada’s energy reputation abroad
  • Maintain and grow external markets for Canadian energy products and services
  • Draw together domestic energy interests to help Canada compete better internationally
  • Attract international interest and investment in the Canadian energy sector
World flags displayed in Eugene Oregon at the IAATF world junior championships

Energy Superpower: ECC President makes the case in the Globe and Mail for Canada’s potential as a world energy superpower.

Gasoline Prices: The crisis in Ukraine has pushed up crude prices and, with them, gasoline prices in North America. They reached record levels in Canada.

US Oil Trade: The US Energy Information Administration (EIA) expects the US to be a net importer of crude oil and liquid fuels in 2022.