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Alberta

Tens of thousands of jobs set after Keystone XL makes deal with U.S. Unions

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From TC Energy

Keystone XL Announces Project Labor Agreement with Four U.S. Unions

Creates Multi-Million Dollar Training Program for Renewable Energy Sector

TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) announced today that Keystone XL has reached a project labor agreement (PLA) with four leading U.S. labor unions that will inject hundreds of millions of dollars in middle-class wages into the American economy, while ensuring this pipeline will be built by the highest-skilled and highest-trained workforce.

TC Energy is also working with labor to establish a unique Green Jobs Training Program to help union members acquire the specific skills needed to work in the developing renewable energy sector. The company will contribute approximately $10 million, recognizing the 10 million-plus hours anticipated to be worked on Keystone XL by union workers, to establish new training courses for current and future union members in North America.

“We are proud to partner with these union trades and craft workers to ensure this pipeline will be built by qualified professionals with specialized skills to the highest safety and quality standards,” said Richard Prior, President of Keystone XL. “We are especially proud of the new Green Jobs Training Program, which is an investment in thousands of current and future union workers.”

The four unions that are part of the PLA include the Laborers International Union of North America (LiUNA), the International Brotherhood of Teamsters, the International Union of Operating Engineers, and the United Association of Union Plumbers and Pipefitters. Each union is respected throughout the energy industry for their commitment to safety and quality.

“We’re proud to reach today’s agreement with TC Energy that will put UA members to work on this project, bringing safe and efficient energy to American families,” said Mark McManus, General President of the United Association of Union Plumbers and Pipefitters (UA). “This project will bring good paying jobs to our members, all while keeping energy costs low and delivering a boost to local communities and their economies. We’re ready to get to work.”

Project construction will support the creation of 42,000 family-sustaining jobs in the U.S, including more than 10,000 high-paying construction jobs that will be filled primarily by union workers. Keystone XL pipeline construction will generate $2 billion in earnings for U.S. workers, according to the 2014 Final Environmental Impact Statement done by the U.S. State Department.

“Unions working in the pipeline industry, like the Operating Engineers, pride themselves on achieving the highest level of technical training and safety to earn opportunities to build projects like Keystone XL,” said James T. Callahan, General President of the International Union of Operating Engineers. “When our members build and maintain pipelines, they are built right, built safe, and built to last. North America is in desperate need of more modern, safe and efficient energy infrastructure. Operating Engineers will continue to provide the most advanced training in the industry to ensure that these projects are built to the highest safety and environmental standards by the most skilled workforce possible.”

The agreement also underscores TC Energy’s commitment to hire as many local workers as possible, including Indigenous workers. Under the agreement, the unions will hire a tribal consultant to serve as a liaison, reaching out with job fairs and open houses to identify and support Indigenous members seeking to work on this project.

“The Keystone XL pipeline project will put thousands of Americans, including Teamsters, to work in good union jobs that will support working families,” said Jim Hoffa, Teamsters General President. “We believe in supporting projects which prioritize the creation of good jobs through much-needed infrastructure development.”

Keystone XL will create jobs and energy security in North America, by ensuring a reliable source of crude oil to the United States. Construction of Keystone XL will inject approximately $3.4 billion into the U.S. GDP. Once complete, Keystone XL will continue to contribute to the local economy, adding approximately $55 million in property taxes to local communities in Montana, South Dakota and Nebraska during the first year of operation.

For additional information on the project, visit Keystone-XL.com

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Alberta

Energy sector will fuel Alberta economy and Canada’s exports for many years to come

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From the Fraser Institute

By Jock Finlayson

By any measure, Alberta is an energy powerhouse—within Canada, but also on a global scale. In 2023, it produced 85 per cent of Canada’s oil and three-fifths of the country’s natural gas. Most of Canada’s oil reserves are in Alberta, along with a majority of natural gas reserves. Alberta is the beating heart of the Canadian energy economy. And energy, in turn, accounts for one-quarter of Canada’s international exports.

Consider some key facts about the province’s energy landscape, as noted in the Alberta Energy Regulator’s (AER) 2023 annual report. Oil and natural gas production continued to rise (on a volume basis) in 2023, on the heels of steady increases over the preceding half decade. However, the dollar value of Alberta’s oil and gas production fell in 2023, as the surging prices recorded in 2022 following Russia’s invasion of Ukraine retreated. Capital spending in the province’s energy sector reached $30 billion in 2023, making it the leading driver of private-sector investment. And completion of the Trans Mountain pipeline expansion project has opened new offshore export avenues for Canada’s oil industry and should boost Alberta’s energy production and exports going forward.

In a world striving to address climate change, Alberta’s hydrocarbon-heavy energy sector faces challenges. At some point, the world may start to consume less oil and, later, less natural gas (in absolute terms). But such “peak” consumption hasn’t arrived yet, nor does it appear imminent. While the demand for certain refined petroleum products is trending down in some advanced economies, particularly in Europe, we should take a broader global perspective when assessing energy demand and supply trends.

Looking at the worldwide picture, Goldman Sachs’ 2024 global energy forecast predicts that “oil usage will increase through 2034” thanks to strong demand in emerging markets and growing production of petrochemicals that depend on oil as the principal feedstock. Global demand for natural gas (including LNG) will also continue to increase, particularly since natural gas is the least carbon-intensive fossil fuel and more of it is being traded in the form of liquefied natural gas (LNG).

Against this backdrop, there are reasons to be optimistic about the prospects for Alberta’s energy sector, particularly if the federal government dials back some of the economically destructive energy and climate policies adopted by the last government. According to the AER’s “base case” forecast, overall energy output will expand over the next 10 years. Oilsands output is projected to grow modestly; natural gas production will also rise, in part due to greater demand for Alberta’s upstream gas from LNG operators in British Columbia.

The AER’s forecast also points to a positive trajectory for capital spending across the province’s energy sector. The agency sees annual investment rising from almost $30 billion to $40 billion by 2033. Most of this takes place in the oil and gas industry, but “emerging” energy resources and projects aimed at climate mitigation are expected to represent a bigger slice of energy-related capital spending going forward.

Like many other oil and gas producing jurisdictions, Alberta must navigate the bumpy journey to a lower-carbon future. But the world is set to remain dependent on fossil fuels for decades to come. This suggests the energy sector will continue to underpin not only the Alberta economy but also Canada’s export portfolio for the foreseeable future.

Jock Finlayson

Senior Fellow, Fraser Institute
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Alberta

The beauty of economic corridors: Inside Alberta’s work to link products with new markets

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From the Canadian Energy Centre

Q&A with Devin Dreeshen, Minister of Transport and Economic Corridors

Devin Dreeshen, Alberta’s Minister of Transportation
and Economic Corridors.

CEC: How have recent developments impacted Alberta’s ability to expand trade routes and access new markets for energy and natural resources?

Dreeshen: With the U.S. trade dispute going on right now, it’s great to see that other provinces and the federal government are taking an interest in our east, west and northern trade routes, something that we in Alberta have been advocating for a long time.

We signed agreements with Saskatchewan and Manitoba to have an economic corridor to stretch across the prairies, as well as a recent agreement with the Northwest Territories to go north. With the leadership of Premier Danielle Smith, she’s been working on a BC, prairie and three northern territories economic corridor agreement with pretty much the entire western and northern block of Canada.

There has been a tremendous amount of work trying to get Alberta products to market and to make sure we can build big projects in Canada again.

CEC: Which infrastructure projects, whether pipeline, rail or port expansions, do you see as the most viable for improving Alberta’s global market access?

Dreeshen: We look at everything. Obviously, pipelines are the safest way to transport oil and gas, but also rail is part of the mix of getting over four million barrels per day to markets around the world.

The beauty of economic corridors is that it’s a swath of land that can have any type of utility in it, whether it be a roadway, railway, pipeline or a utility line. When you have all the environmental permits that are approved in a timely manner, and you have that designated swath of land, it politically de-risks any type of project.

CEC: A key focus of your ministry has been expanding trade corridors, including an agreement with Saskatchewan and Manitoba to explore access to Hudson’s Bay. Is there any interest from industry in developing this corridor further?

Dreeshen: There’s been lots of talk [about] Hudson Bay, a trade corridor with rail and port access. We’ve seen some improvements to go to Churchill, but also an interest in the Nelson River.

We’re starting to see more confidence in the private sector and industry wanting to build these projects. It’s great that governments can get together and work on a common goal to build things here in Canada.

CEC: What is your vision for Alberta’s future as a leader in global trade, and how do economic corridors fit into that strategy?

Dreeshen: Premier Smith has talked about C-69 being repealed by the federal government [and] the reversal of the West Coast tanker ban, which targets Alberta energy going west out of the Pacific.

There’s a lot of work that needs to be done on the federal side. Alberta has been doing a lot of the heavy lifting when it comes to economic corridors.

We’ve asked the federal government if they could develop an economic corridor agency. We want to make sure that the federal government can come to the table, work with provinces [and] work with First Nations across this country to make sure that we can see these projects being built again here in Canada.

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