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continued from front THE WEEKLY ANCHOR MONDAY JULY 4, 2016 PAGE 2
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continued from front PAGE 2 MONDAY SEPTEMBER 19, 2016 THE WEEKLY ANCHOR
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continued from front Petroleum industry deals with economic fallout
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“We have lost 110,000 direct and indirect jobs,” built we need to hear from both proponents and said Montgomery.
said Montgomery. While that number is across those who have legitimate concerns. We need a During the last provincial election refineries
the country the majority of those losses are in forum for concrete and constructive discussion and the suggestion to build more in Alberta was,
Alberta. regarding those concerns so that the regulator and for some electoral candidates, an election issue.
One of the main challenges for producers is the the project proponent can address those concerns Montgomery said, “There are significant
ability to get their product to market. Canada's in a meaningful way going forward.” challenges. If you look at refining capacity in
pipeline network has capacity to move about 4 The protesters are louder than the supporters but North America we actually have an excess of
million barrels per day, which closely matched the there is not necessarily more of them said refining capacity now.”
2015 average supply of 3.981 million barrels per Another challenge is to show the benefits of
day.“Sometime soon we are going to hit a point the industry are not just reaped in Alberta but
where our pipelines are full and that will either across the country and that we have a solid
mean we will have to find other ways to ship our Less than 2% of environmental track record of both development
oil or it will start to constrain our production,” said Canada's oil makes it to and shipment of the resources.
Montgomery. Technology innovation and incorporating more
Production is forecasted to grow more than foreign markets that renewal energy sources to provide a broader
700,000 barrels per day between 2021 and 2030. energy mix is important and is a focus of many
As such, Canada's oil supply will soon exceed its are not the United States. in the industry sector.
current pipeline capacity and increase the need for Montgomery said organizations such as
additional transportation infrastructure. Canada's Oil Sands Innovation Alliance
In a recent statement released by CAPP, (COSIA) is working towards improving
president and CEO Tim McMillian said, Montgomery and added that at this point in time environmental performance.
the conversation seems one-sided and it is
“Canada's energy future relies on our ability to get important everybody's voice is heard. COSIA is an alliance of oil sands producers
Canadian oil and gas to the people who need it. Montgomery believes three things that need to which collaborates to improve technology,
Connecting Canadian supply to new and growing happen in order to make a positive shift. reduce greenhouse gas emissions, improve water
markets abroad, safely and competitively, is a top 1) World market prices need to go up. Supply and tailing ponds, and reduce methane
priority.” and demand is starting to balance out but is not emissions. To date COSIA has spent
There is also a growing need to access new approximately $1.8 billion developing more
markets. there yet. than 800 technologies to enhance environmental
2) Corporations need to reduce costs in the
Less than 2% of Canada's oil makes it to foreign performance.
markets that are not the United States. With the sector – discipline in operations and cost There is an ongoing increased focus to reduce
United States increasing their petroleum product constraints. methane emissions from non-oilsands
production, “Our number one customer has 3) Government policies need to encourage operations.
become our number one competitor,” said investment – all three levels of government as For the foreseeable future an increased
Montgomery,“We are largely in the situation we municipalities have raised their taxes as well as demand for oil and gas resources worldwide is
are in today with prices because the States has the provincial and federal policies need to be expected and Montgomery said, “It is important
brought on so much production,” said revisited, that we develop those responsibly but we should
Montgomery. Even with those three issues addressed there is also be taking economic advantage of that
When asked about the opposition to pipelines a larger concern. “Fundamentally the industry demand to find those new markets whether that
Montgomery said, “What is concerning is that if in Alberta will always be challenged if we don't is Asia or Europe or elsewhere.”
we are to get these major infrastructure projects get new pipelines built to get new customers,”

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