CAPP showcases work to southern Alberta


BY COLE PARKINSON insight magazine


some answers as to how to move forward. In order to get an update on the industry, the


W


Canadian Association of Petroleum Producers high- lighted some of their work to council. “We (CAPP) have about 60 members today.They


produce about 80 per cent of all Canada’s oil.We have everything from privately held, small inde- pendent companies, all the way up to big multi nationals that you hear about in the news every day,”said Chris Montgomery, communications for CAPP at a recent M.D. meeting. One of the biggest concerns CAPP brought for-


ward to the M.D.was around Canadian producers selling their product outside of Canada.With United States producers taking on more international mar- kets,CAPP says that has hurt the Canadian oil and gas industry quite a bit. “The challenge we have here in Alberta, and in


Canada more broadly, is that we can’t access those global markets.We are still reliant on the U.S., our


ith continuing concerns growing around the oil and gas industry in the province, the Municipal District of Taber is working towards finding


traditional gas markets,we have been losing out on market share to the United States because they are closer to those key markets that we have traditional- ly relied on.On a go-forward basis, the question for the world really isn’t whether they use their resource, it is where they get the resource from. Our goal is to make sure that we provide a good resource that we have here to those world markets. That not only provides an economic benefit to us, but an environmental benefit around the world as well.We can produce these resources better than anywhere else in the world at a low emissions pro- file,”explained Montgomery.“Because we can’t access those markets, and particularly because our oil pipelines are full and we are losing out to the American producers on the gas side.Despite a recovery since 2016 around the world for oil and gas investment,we are seeing the investment here in Canada on a decline.” Due to these shortfalls, another decline for invest- ment into the Canadian oil and gas industry is expected. “In 2014, as a sector,we invested over $81 billion of capital into the economy.This year,we are projecting less than half of that, around $37-$38 billion,”contin- ued Montgomery.


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