Environment and Climate Change Canada’s plan to reduce taxes on carbon emissions for companies at risk to foreign competition doesn’t go far enough according to critics who say the tax will have a negative effect on the economy.
The full story can be read at: https://www.theglobeandmail.com/business/industry-news/energy-and-resources/article-conservatives-critics-slam-liberals-carbon-plan-reductions/
While it is important to recognize that environmental issues require an enormous amount of attention it is equally important to remember that we must sustain an economy that provides jobs and income to support the measures necessary to support environmental responsibility. In Canada’s case we can’t ignore the contribution that comes from developing our natural resources.
For more on this story go to:
https://www.theglobeandmail.com/opinion/article-resource-jobs-are-sustaining-canadas-middle-class-period/
It looks like the battle lines are clearly drawn on pipeline development in Canada with the provincial governments of B.C. and Alberta pitted against one another over the building of the Trans Mountain Pipeline. This is not the first time conflict has erupted concerning resource development. A suggestion on how to find a resolution can be read at:https://www.theglobeandmail.com/opinion/a-way-forward-how-we-can-resolve-pipeline-wars/article37815250/
The OPI recently participated in a hearing on an appeal of an Ontario oil and natural gas producer of its pipeline assessment. The rising costs related to the assessment of industry assets – machinery, equipment, land and pipelines – under the Assessment Act has become a significant issue for the industry. As the headline indicates it’s a problem for other sector as well. The full story can be read at:https://www.theglobeandmail.com/report-on-business/small-business/sb-money/ontario-farmers-seek-tax-relief-as-land-values-rise/article38271546/
Lori Ackerman, a mother and grandmother from northern British Columbia, took out an advertisement in the Vancouver Sun to write to the citizens of the province. Ms. Ackerman also happens to be the mayor of the province’s City of Fort St. John which is situated in the middle of one of the largest supplies of oil and natural gas in the world. Her purpose for the message was to share with citizens what she understands about extracting natural resources and protecting the environment. The fill story can be read at:
The OPI presentation at the International Prospect Theatre at the 2018 NAPE Summit (North American Prospect Expo) was the “Ontario Advantage”. The Prospect Theatre featured presentations from exhibiting companies on their current prospects providing an opportunity to pitch to a larger audience. The 2018 NAPE Summit was held in Houston, Texas from February 7-9.
OPI Presentation 2018 NAPE Summit – International Prospect Theatre
The OPI was one of 30 organizations that provided comments to the Government of Ontario at a 2018 Pre-Budget Consultation held on January 25, 2018. The meeting was hosted by Yvan Baker, MPP Etobicoke Centre and the Parliamentary Assistant to Minister of Finance, Hon. Charles Sousa. In its brief the OPI talked about the Ontario’s oil and natural gas industry’s contribution to the provincial economy with jobs, royalties and investments. To help address the challenges the sector has faced in recent years with declining production the OPI urged the Government to consider tax measures geared to oil and natural gas exploration similar to measures currently in place for the province’s mining sector, and to open the Assessment Act to a review on how oil and natural gas assets are assessed to correct what the industry regards as inequities in the application of assessments on machinery, equipment, pipelines and land. The meeting was held at the Marconi Club on Clark Road in London, Ontario.
The OPI is participating in two current hearings being held by the Ontario Energy Board (OEB). EB Hearing 2017-0306 is on an application from Enbridge Gas Distribution Inc. and Union Gas Limited for approval to amalgamate to form a single gas distribution, transportation and storage company. EB Hearing 2017-0224/0255/0275 are applications from Enbridge Gas Distribution Inc., Union Gas Limited and EPCOR Natural Gas Limited Partnership for approval to recover the costs associated with their 2018 cap and trade compliance plans. As an intervenor in the hearings the OPI is able to keep abreast of any developments arising from the OEB decisions that may impact the industry.
Ontario companies have been exploring and producing oil since 1858 and natural gas since the 1880’s. The advantages of exploring in Ontario include an estimated 50% of the province’s oil and natural gas remains to be developed, high net-backs, an experience workforce, and developed infrastructure.
The OPI Board of Directors held its election meeting on November17, 2017 in London. In accordance with the OPI By-laws the executive is elected at the Board’s first meeting after the Annual General Meeting (AGM). The AGM was held on November 2, 2017. Dale Holland of Holland Testers was re-elected President as was First Vice-President, Jim McIntosh – Jim McIntosh Petroleum Engineering Ltd., Second Vice-President, Denis Marcus – Harold Marcus Limited, Treasurer, Charlie Fairbank – Fairbank Oil Properties Ltd., and Secretary, Frank Kuri – Dundee Energy LP.
