According to Jason Kenney and Andrew Scheer, neither low Oil and Gas prices, nor the American shale gale, nor the increase in U.S. crude oil production & resultant glut, nor the massive structural shift in the oil industry had anything to do with Alberta’s downturn and continued recession: it was entirely caused by Superwoman Rachel Notley and/or her Superman sidekick, Justin Trudeau.
“For those unfamiliar with the term, here’s a definition of gaslighting: “Gaslighting is a form of psychological manipulation in which a person seeks to sow seeds of doubt in a targeted individual or group, making them question their own memory, perception, and sanity.””
Jason Kenney says Liberal energy policies to blame for Encana’s move to U.S.
- Kenney needs to deflect from his failure to tie Corporate tax cuts to generating jobs. Instead of job creation, those tax cuts went into shareholders’ pockets and allowed wealthy corps to buy back shares. Rather than investing in Alberta, Big oil invested in other Countries & Provinces!
- Premier Kenney is “selling you a bill of goods” and actually perfecting his gaslighting technique on Alberta!
EXCERPTS: “Encana CEO Doug Suttles, however, rejected the notion that Canadian politics prompted his company’s move. In an interview with BNN-Bloomberg Thursday, he was asked whether this decision, coming so soon after the federal election, where the Liberals won the most seats, had anything to do with the political environment.
“The answer is unequivocally no,” Mr. Suttles said. “This is not a political move, this is quite simply accessing the capital trends in the marketplace.””
Moreover, their spokesperson Steve “Campbell goes on to say Encana employs 2,500 people and no jobs, including Calgary ones, will be affected by the move.”
Encana actually started transitioning to the U.S. & selling its assets in 2013, long before PMJT was elected. Natural gas prices also tanked long ago.
Spitting fire and brimstone, Gary Mason says whaaaat….. “It’s completely nuts. Mr. Kenney’s ego is out of control.”
When Mr Kenney is not blaming former Premier Notley, PM Trudeau, or Alberta’s lack of Equalization funds for Alberta’s woes, he blames Americans & Environmentalists – in other words, a conspiracy theory – for blockading AB oil from getting to other markets.
According to Mr Scheer, PMJT was also responsible for TransCanada being ashamed of its name, and together with Mr Kenney he blamed PMJT for Encana moving to the U.S. Both companies state that neither move had anything to do with politics or Canada’s energy policies!
William Munsey, Past President of the Alberta Party, on Encana History: “I will be back to light-hearted punning shortly, but I’ve got to get something off my chest:
In light of its decision to leave Canada, it’s worth knowing Encana’s history. It was essentially a gift of mineral rights to Canadian Pacific Railways. It got it’s start for free, and has a long history of following the easiest money, selling assets… many of which were financed by the initial gift from the Government of Canada.
The following was plucked off Wikipedia. I’ve know the story for years so I knew what I was looking for. Don’t credit me for all the details.
“When the Canadian Pacific Railway was formed, the government of Sir John A. Macdonald compensated it for assuming the risk of developing the railroad with the subsurface rights for a checkerboard pattern of most of Alberta and part of Saskatchewan. These rights were later spun off to Encana’s predecessors.
Like Husky last week, Encana is not about anything but shareholders’ profit and finding it by cutting and selling.
Their move has little to do with any government (look at their history of selling assets). It has everything to do with them recognizing the trend away from investing in harder-to-get-at fossil fuels.
This move is not anti-Alberta or Anti-Trudeau or Anti-Notley. This move is about chasing ever diminishing profits to keep their heads above water. Ignoring that will be fatal for Albertans.
In 1883, Canadian Pacific Railway drilled for water near Medicine Hat, AB and discovered natural gas.
On July 3, 1958, Canadian Pacific created “Canadian Pacific Oil and Gas” to manage its oil and gas properties and its mineral rights.
In 1971, Canadian Pacific Oil and Gas merged with “Central-Del Rio Oils”, creating “Pan Canadian Petroleum Limited”.
In April 2002, PanCanadian Petroleum Ltd was spun out of Canadian Pacific Limited. It subsequently merged with Alberta Energy Corporation to form EnCana. Gwyn Morgan was named President and CEO.
In January 2007, the company sold its assets in Chad to China National Petroleum Corporation for $202.5 million.
In May 2007, the company sold its assets in the delta of the Mackenzie River.
In spring 2008, residents from Pavillion, Wyoming, approached the United States Environmental Protection Agency (EPA) about changes in water quality from their domestic wells. Encana was the primary natural gas producer in the area. In 2009, the EPA announced that it had found hydrocarbon contaminants in residents’ drinking water wells.
In November 2009, EnCana spun off its oil business into Cenovus Energy.
In November 2011, a potential buyer backed out of a $45 million deal to buy the company’s gas field in Pavillion, Wyoming.
In December 2011, the company sold the majority of its natural gas producing assets in the Barnett Shale.
In February 2012, Mitsubishi paid approximately C$2.9 billion for a 40% interest in the Cutbank Ridge Partnership with Encana, which involves 409,000 net acres of Montney Formation natural gas lands in northeast British Columbia. The company also sold its midstream assets in the Cutbank Ridge to Veresen for C$920 million.
In December 2012, Encana announced a US$2.1 billion joint venture with state-owned, Beijing-based PetroChina through which PetroChina received a 49.9% stake in Encana’s Duvernay Formation acreage in Alberta. This was in line with the rules that “favor minority stakes over takeovers” since Prime Minister Stephen Harper’s December 7, 2012 prohibition of purchases by state-owned enterprises seeking to invest in Canadian oil sands.
At the end of 2012, Encana’s staff had increased to 4,169 employees.
In November 2013, the company announced layoffs of 20% of its employees, closure of its office in Plano, Texas, and plans to sell assets and to found a separate company for its mineral rights and royalty interests across southern Alberta. It planned to invest 75% of its 2014 capital budget into 5 projects: Projects in the Montney Formation and the Duvernay Formation in Alberta, the San Juan Basin in New Mexico, Louisiana’s Tuscaloosa Marine Shale, and the Denver-Julesburg Basin (DJ Basin) in northeast Colorado, Wyoming, and Nebraska.
In June 2014, the company sold its Bighorn assets in Alberta to Jupiter Resources for US$1.8 billion.
In November 2014, Encana acquired Athlon Energy for $7.1 billion.
In May 2014, Jonah Energy LLC acquired Encana’s Jonah Field operations in Sublette County, Wyoming.
In June 2014, the company acquired assets in the Eagle Ford Group from Freeport-McMoRan for $3.1 billion.
In August 2015, the company sold its assets in the Haynesville Shale for $850 million to affiliates of GSO Capital Partners and GeoSouthern Energy.
In December 2015, the company significantly cut its dividend and capital expenditures budget after a fall in energy prices.
In July 2016, the company sold its assets in the Denver Basin for $900 million.
In June 2017, the company sold its assets in the Piceance Basin for $735 million.
In May 2018, the company permanently ceased production at Deep Panuke. The Deep Panuke project produced and processed natural gas 250 kilometers offshore southeast of Halifax, Nova Scotia.
In December 2018, the company sold its assets in the San Juan Basin for $480 million.
In February 2019, the company acquired Newfield Exploration.
In October 2019, the company announced its intentions of moving operations from Canada to the U.S.A. and changing its name to Ovintiv.”
“Rather that whipping people into a frenzy with tales of a false monster, the parties owe it to Albertans to be truthful.”
“United Conservative Party Leader of Alberta Jason Kenney puts the blame of Alberta’s economy and oil trouble squarely on Prime Minister Justin Trudeau and current Alberta Premier Rachel Notley, in an interview with Global News’s Mercedes Stephenson.”
Note: Jason Kenney must have been smoking something, because there is nothing a Canadian Prime Minister can do to overturn a U.S. President’s veto. Moreover, Barrack Obama vetoed Keystone, not Northern Gateway. It was Stephen Harper’s arrogance which killed Keystone XL during his term. Trudeau had nothing to do with it. See our Prelude to Northern Gateway blog post.
The specific question from Mercedes to JK about “how would you have gotten pipelines built” was never answered.
He launched straight into blaming RN & PMJT for everything
He spews the conspiracy theory that hundreds of Millions were spent from foreign sources to vilify AB oil.
He claims PMJT gave Quebec the veto over Energy East: Not true!
B/C of QC’s alleged veto over EE, he will bring Equalization to the forefront as he wants Alberta to get a fair deal.
Imagine that: the richest Province in the land is complaining about paying federal taxes. See our blog post on Equalization: https://lietracker.ca/tag/equalization/
On western alienation, Mercedes interviewed PMJT & he said JK is exploiting frustration & making it worse.
Kenney, the king of wedge, replied: “This is the PM who drives wedges everywhere he can.”
Not once did he answer her question about how he would get pipelines built or how he would do things differently!