ARC ENERGY IDEAS

This week on the podcast, Peter and Jackie cover the US midterm election results and their potential implications for energy policy and Canada. They discuss why Trump’s veto power could limit legislative changes and debate the likelihood of the Iran war ending. They also consider the possibility of a windfall tax on oil and gas, which some Democrats have pushed for over the past year, as well as increased headwinds for data centres in states led by Democratic governors, and whether this could drive more investment in Canadian data centres. Democratic-led states could also provide more support for clean energy. 

Next, they cover last week’s Canadian federal budget, “Masters of Our Destiny, Budget 2026.” For energy, it largely confirmed existing initiatives, including Major Projects Office priorities, the Productivity Mega Deduction tax incentive, and the goal of doubling Canada’s electricity generation. Investment Tax Credit changes included extensions to 2040 and domestic content adders, but overall, there were fewer changes than some expected. The budget also signaled more flexibility in the Clean Electricity Regulations, which restrict natural gas power generation without CCS, and outlined a goal to link Canada’s carbon markets, although details remain limited. 

Content covered in this podcast: 

• Canada announces landmark investment in Cohere to scale secure, Sovern AI (October 29, 2026) 
• Globe and Mail, “Anthropic in talks to lease massive data centre campus outside Edmonton, sources say,” (October 30, 2026) 
• Nova Scotia Premier Houston post on his support for AI (September 23, 2026) 
• Masters of our Destiny, Canadian Federal Budget 2026 
• Angus Reid on Canada, “Data Centre Doubts: Two-thirds want them limited; fears over resource drains drive resistance, (October 7, 2026) 

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British Columbia has seen a major political shift with the election of a majority Conservative government led by Premier-designate Lorne Doerkson after nine years of NDP rule. During the campaign, the Conservatives released their “BC Energy Superpower Plan: Build More Faster” on September 28, 2026. 

On this week’s podcast, Peter and Jackie are joined by Stewart Muir, President and CEO of Resource Works, a leading voice in Canada’s natural resource sector with a focus on British Columbia. They discuss the Conservatives’ platform and what it could mean for energy investment in the province. The platform focuses on expanding LNG exports and natural gas production, repealing Clean BC, and designating the Montney Formation as a strategic provincial asset. The plan also addresses future sources of electricity in the province. 

Beyond the platform, they discuss the BC Conservatives’ support for Pacific Link, the proposed oil pipeline connecting Alberta to BC’s southern coast, and the federal Conservative Party’s recent push to lift the oil tanker ban on BC’s northern coast. 

Content referenced on this podcast: 

• BC Energy Superpower Plan: Build More Faster 
• Ready to Deliver, Lorne Doerkson’s Plan for a Stronger BC 2026 

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This week on the podcast, Peter and Jackie review the latest election news, including the BC election, which produced a Conservative majority government over the weekend, and the Alberta referendum, including the question on separation. 

Jackie then shares highlights from the Electricity Transformation Canada conference in Toronto, an annual event developed by the Canadian Renewable Energy Association (CanREA), including a conversation with Jigar Shah for the podcast. Jigar hosts the Energy Empire and Open Circuit podcasts. His previous roles include Director of the US Department of Energy’s Loan Programs Office, Co-Founder and President of Generate Capital, and Founder and CEO of SunEdison. 

Jackie and Jigar cover a range of topics, including the pace of the energy transition, the impact of disruptions in the Strait of Hormuz, electric vehicle adoption, the outlook for emerging clean energy technologies, and Jigar’s views on how data centres can be built more intelligently. 

Content referenced in this podcast: 

• Electricity Transformation Canada (CanREA conference) 
• BC Conservatives Plan for a Stronger BC (2026) 
• BC Energy Superpower Plan: Build More Faster (September 2026) 

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In this week's podcast, Peter and Jackie discuss global oil and diesel markets, the government’s role in major infrastructure projects, including the Pacific Link pipeline, and widening Canadian heavy oil discounts. 

Escalating conflict in the Middle East has raised oil prices and renewed concerns over supply. Wars in the Middle East and Russia have also constrained refining capacity, tightening diesel supplies. With affordability and the US midterm elections in focus, Peter and Jackie discuss President Trump’s efforts to lower diesel prices. For now, the prospect of a US diesel export ban has receded. On October 15, the IEA announced plans to release 20 million barrels of diesel, while Trump agreed to purchase a relatively small volume of diesel from Russia, raising concerns about broader sanctions relief without concessions on the war in Ukraine.  

Next, they discuss Peter’s article in The Hub, “Why Canada must put public dollars behind big infrastructure.” He argues that conventional financial analysis undervalues infrastructure’s generational benefits, including energy security, market access and economic sovereignty, which can extend over 50 to 100 years and may only be fully recognized by governments. 

Finally, they examine the roughly US$26/B spot discount for WCS relative to WTI, driven by Western Canadian pipelines nearing capacity, Venezuelan competition in the US Gulf Coast (USGC), and high tanker rates that make re-exports of Canadian oil from the USGC costly. These discounts underscore the value of additional West Coast oil pipeline capacity. 

Content referenced in this podcast: 

• The IEA October 15 statement on releasing over 20 million barrels of diesel as soon as possible. 
• Morningstar, “Surging Middle East Shipping Costs Widen Global Oil Price Gaps, Goldman Says” (Oct 13, 2026) 
• The Hub, Peter Tertzakian, “Why Canada must put public dollars behind big infrastructure.” (October 9, 2026) 
• Reuters, “Soaring freight rates threaten Asia's appetite for US Crude” (October 8, 2026) 
• Studio.Energy, “Latest Developments in Canada’s Market Hostage Situation” (October 9, 2026) 

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The federal government introduced Bill C-39 (Building Canada Strong Act) on September 21, 2026. The bill aims to complete project reviews in one year, with a single window for proponents, rather than requiring them to deal with multiple federal and provincial agencies. Business stakeholders have responded positively to the draft legislation. 

This week on the podcast, our guest is Gitane De Silva, Founder & President of GDStrategic, Executive Director of the Peter Lougheed School of Politics and Democracy at the University of Alberta, and former CEO of the Canada Energy Regulator (CER). 

Gitane helps us understand the proposed regulatory process, how it compares with the fast-track process under Bill C-5 (which the new Pacific Link, formerly known as the West Coast Oil Pipeline, will follow), and the process established under Bill C-69, famously called the “No New Pipelines Bill.” She also explains the roles of the various agencies involved, depending on the type of project being reviewed. 

Content referenced in this podcast: 

• The Alberta Government’s website on the Pacific Link oil pipeline (formerly known as West Coast Oil Pipeline) 
• The Government of Canada's background document on Bill C-39 
• The full text of Bill C-39 
• The Hub.com article by Sean Speer “Carney’s moves on building and labour are an outright rejection of Trudeau economics” (Sept 26) 
• CBC “Facing criticism, Carney says he has a 'very clear mandate' to push through major economic changes (Sept 22) 

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This week, we recorded the podcast at the Energy Disruptors: UNITE conference in Calgary. Our guest, Bob Galyen, is one of the top executives in the battery energy storage world and the former Chief Technology Officer of CATL. He now serves on boards in the emerging U.S. battery sector and owns Galyen Energy. 

Battery technology has advanced significantly over the past decade, enabling EV adoption and backing up wind and solar power generation. New battery chemistries promise even greater utility, including longer duration, faster charging, and lower costs. 

In their conversation with Bob, Peter and Jackie explore a wide range of topics, including new battery chemistries and Bob’s five golden rules of electrification: safety, performance, lifetime, cost, and environment. They also discuss the geopolitics of batteries and China’s dominance in the sector, including how the Chinese government supported the battery industry’s development. The conversation contrasts China’s approach with that of the United States, which is developing a domestic battery industry to reduce reliance on China for these critical materials and technologies.

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Data centres have faced growing public backlash in the United States. In Alberta, opposition has been less widespread, and the provincial government supports the industry, but communities are raising concerns. 

This week, our guests -Deirdre Sheehan, Partner and Co-Chair of the Regulatory, Indigenous and Environmental practice at Osler, and Marcus Rocque, Vice President of Research at the ARC Energy Research Institute, review the main concerns surrounding data centres, using the topics outlined in Premier Smith’s recent video as a guide:

• What is a data centre, and why does Alberta want them?
• Didn’t other places get burned by data centres?
• How do Albertan’s actually benefit from these data centres?
• Will my power bill go up?
• What about water?
• Who decides where these data centres get built?

Content referenced in this podcast:

• Alberta Premier Smith video on six common questions on AI data centers

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This week on the podcast, our guest is Dulles Wang, Director of Americas Gas and LNG Research at Wood Mackenzie. Dulles co-authored the report Defying Gravity: Why U.S. Henry Hub Natural Gas Prices Are Set to Rise. He is also bullish on the longer-term outlook for Alberta natural gas prices (AECO). 

The report comes as natural gas prices in the United States and Canada are depressed by abundant supply, especially in Canada, combined with an outlook for very warm winter weather. 

Here are some of the questions Jackie and Peter asked Dulles: After years of low natural gas prices and abundant supply, why do you expect prices to rise? Is there a risk that supply could surprise again and continue growing fast enough to keep pace with demand growth, despite low prices? How do warmer winters affect the outlook, given that they appear to be becoming more common, including expectations for this upcoming winter? What is your outlook for Alberta natural gas prices and Canadian LNG exports? This has been a big year for M&A involving U.S. shale gas assets, with a new group of buyers that includes Abu Dhabi’s ADNOC, Saudi Aramco, and Japanese companies. What is driving this trend, and do you expect it to come to Canada? 

Content referenced in this podcast: 

• Mark Carney Forward Guidance: A Stronger Canada video (September 8, 2026) 
• Wood Mackenzie report, Defying gravity: Why US Henry Hub natural gas prices are set to rise (July 2026) 
• FT article, Scramble for gas assets pushes dealmaking to a decade high (August 30, 2026) 

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This week on the podcast, our guest is Vern Yu, President and CEO of AltaGas. AltaGas operates a midstream business focused on processing, transporting and marketing hydrocarbons, including natural gas and natural gas liquids (NGLs), such as propane and butane. The company also operates natural gas utilities in four U.S. states. 

Here are some of the questions Jackie and Peter asked Vern: Based on your experience, particularly in your previous role at Enbridge, how difficult was it to build oil pipelines in Canada historically, and are you optimistic that this is changing? How long has AltaGas been exporting liquefied petroleum gases (LPGs) from Prince Rupert, and how much will volumes grow once the new Ridley Island Energy Export Facility (REEF) is completed? How would you describe Asian demand for LPGs and Canada’s competitive position relative to the United States and the Middle East? Is the growth of AltaGas’s LPG business dependent on aggressive natural gas production growth in Western Canada? AltaGas distributes natural gas in several U.S. markets through your utilities, including Virginia, a hot spot for data-centre growth. What are your growth expectations for data centres, given the growing opposition in Virgina? As a company operating in both Canada and the United States, and even supplying natural gas to the White House, how is the U.S.-Canada trade war affecting your business? 

Content referenced in this podcast: 

• Video of construction at Ridley Island Energy Export Facility (REEF) on LinkedIn  
• Enbridge Tour for Cancer (Register for 2027 and Donate) 

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The podcast is back after the summer break! Peter and Jackie begin with the escalating U.S.–Canada trade war, including renewed calls to use Canadian energy exports as leverage by reducing exports or imposing tariffs. Both approaches would hurt Canada more than the United States. They also discuss Canada’s new counter-tariffs, which take effect on September 8. 

Next, they examine oil markets as the Strait of Hormuz closes again. With tanker traffic low and difficult to track, and refined-product markets tight, uncertainty remains high, with risks seemingly skewed toward higher oil prices in the near term. 

They also discuss growing opposition to data centres, including permitting pauses in several U.S. states and local concerns about Meta’s planned development in Sturgeon County, Alberta. 

Peter and Jackie then review Canadian LNG and oil pipeline developments from over the summer. 

Finally, Graeme Edge, founder and CEO of Energy Disruptors, joins the podcast to preview the conference taking place in Calgary on September 28 and 29. 

Content referenced on this podcast: 

• CAPP Data Hub and the specific Data Book titled “Canadian Imports of U.S. Crude Oil, Natural Gas, and Refined Products”  
• ARC podcast on the Impacts of Tariffs on Canadian Oil and Gas from January 14, 2025  
• List of products from the United States subject to counter-tariffs effective September 8, 2026 - Canada.ca 
• Calgary Herald article that Anthropic, maker of Claude, is looking to put boots on the Ground in Alberta (August 20, 2026) 
• Alberta Premier Smith video on six common questions on AI data centers 
• Montana Revokes Bridger Pipeline Waiver After Legal Challenge, Pipeline & Gas Journal, July 29, 2026 
• The Pipeline Comes First, Studio.Energy, August 25, 2026  
• Energy Disruptors conference information 

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