As we woke up Sunday morning, the news was about Cenovus and Husky’s plan to merge and create a new “resilient intergraded energy leader.”  The consolidation wave has been gaining momentum in Canada’s oil patch for some time, but this is the biggest announcement yet.

On this week’s episode, Peter and Jackie analyze the drivers for industry consolidation by reviewing ARC’s Fiscal Pulse of the Canadian Oil and Gas Industry for 2020. Low prices have slowed the fiscal pulse. This, along with pressure to return money to shareholders and liquidity issues, are catalysts for industry consolidation.

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This week’s guest is Daniel Yergin, the Pulitzer Prize-winning author, and authority on everything energy. We discuss Dan’s new book “The New Map: Energy, Climate, and the Clash of Nations.”

Here are some of the questions that Peter and Jackie asked him: How has the US shale revolution changed the global energy order? Is the geopolitics of oil a non-issue now? What is the growing conflict between the United States and China? If Joe Biden were to win the US election, how could this change relations with Iran and the oil supply? Will Saudi Arabia diversify its economy by 2030? How fast will the energy transition occur?

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On this week’s episode we discuss Alberta’s recently released “Natural Gas Vision and Strategy” that outlines petrochemicals, LNG, hydrogen, and plastic recycling as priorities for the government. We also talk about the province’s announcement around developing geothermal regulation.

Next up, we consider the implications to lending and investing now that some banks are targeting net-zero emissions across their customers by 2050.

Finally, we debate why companies should consider making net-zero 2050 targets.

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When it comes to energy, Alberta is most known for its large oil and gas industry. However, the province also has emerging new energy potential, including blue hydrogen, geothermal, minerals and carbon capture and storage (CCS). Alberta’s Energy Minister, the Honourable Sonya Savage, joined the podcast this week.

Here are some of the questions we asked her: How are companies coping with the oil market crisis? What is your take on the federal government’s throne speech and plan to achieve net-zero emissions by 2050? Is Joe Biden a risk to the province’s investment in the Keystone XL pipeline? What are the emerging energy technologies to watch for in Alberta?

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We start this week’s podcast talking about the Energyphile Vignette “Decarbonization Lessons from Edison.” Thomas Edison’s strategy for electrification provides learnings for today’s energy transition. We also cover recent energy headlines: BP’s prediction that oil demand will peak soon. California’s summer power blackouts and the state's pledge to ban the sale of new combustion vehicles by 2035. Canada also has big targets for the adoption of electric cars, but could Canada also become a leader in producing EVs?

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