Letter from Canada: Alberta’s petchems strategy could backfire
The Kenney administration seems to be ignoring any warning signs on future demand growth
The Alberta government has tried numerous times to diversify away from oil and gas since the oil price shocks of the 1970s made the industry the mainstay of the provincial economy. Most efforts were dismal failures—including a mobile phone company, a hazardous waste treatment plant, a pulp mill and a magnesium smelter. Those failures have led to recent administrations pursuing other avenues to diversify the economy within the energy sector itself, in particular the petrochemical industry. The provincial administrations of Premier Jason Kenney and his predecessor, Rachel Notley, have rolled out several programmes to encourage companies to build new plants in the province. Edmonton appears t
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
