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Regulation Transformed: Consultation, Conflict and Regulation in Alberta’s Oil and Gas Industry.

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Presentation on theme: "Regulation Transformed: Consultation, Conflict and Regulation in Alberta’s Oil and Gas Industry."— Presentation transcript:

1 Regulation Transformed: Consultation, Conflict and Regulation in Alberta’s Oil and Gas Industry

2 Oil $55 (U.S.) barrel Natural Gas $8 (U.S.) btu

3 Alberta Oil Patch: Basic Facts $62.5 billion (Cdn) value in 2003 $62.5 billion (Cdn) value in % of Canadian total 73 % of Canadian total Oil: 65% of Canadian total Oil: 65% of Canadian total Natural Gas: 76% of Canadian total Natural Gas: 76% of Canadian total

4 Oil Sands Reserves of 174 billion barrels Reserves of 174 billion barrels Resources equal 315 billion barrels Resources equal 315 billion barrels Production of 1,000,000 barrels/day Production of 1,000,000 barrels/day

5 Four Levels of Regulation Local/municipal Local/municipal Provincial Provincial National National Inter-provincial/International Inter-provincial/International

6 Local Regulation Municipalities fall under Municipal Act Municipalities fall under Municipal Act Mainly land use policy Mainly land use policy Intervener role with EUB Intervener role with EUB

7 Provincial Regulation 13 Departments involved 13 Departments involved Dozens of pieces of legislation Dozens of pieces of legislation Primarily Alberta Energy and Alberta Environment Primarily Alberta Energy and Alberta Environment Energy and Utilities Board – broad regulatory powers Energy and Utilities Board – broad regulatory powers

8 National Regulation Environment Canada Environment Canada Natural Resources Canada Natural Resources Canada National Energy Board – broad regulatory powers over interprovincial and international trade National Energy Board – broad regulatory powers over interprovincial and international trade

9 Interprovincial and International Regulation ASC/OSC: new reserve reporting requirements ASC/OSC: new reserve reporting requirements Kyoto Protocol Kyoto Protocol NAFTA NAFTA Bush NEP of May 2001 Bush NEP of May 2001

10 Regulatory Issues A move from economic to social regulation (Culture Wars in the Oilpatch) A move from economic to social regulation (Culture Wars in the Oilpatch) A division between large and small producers A division between large and small producers impact of OSC/ASC reporting requirements impact of OSC/ASC reporting requirements Kyoto – large firms compliant Kyoto – large firms compliant Wabiskaw-McMurray natural gas shut-ins Wabiskaw-McMurray natural gas shut-ins

11 The Future Continued federal-provincial conflict Continued federal-provincial conflict Security concerns Security concerns Continued conflict between large and small producers Continued conflict between large and small producers


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