Alberta
New opinion surveys reveal overwhelming majority of Canadians support our Oil and Gas industry
News Release from Canada Action
We are very excited to share some recent and encouraging polling results today. According to a July 2021 public opinion survey conducted by Research Co, new data shows that Canada’s public perception of our responsible energy industry is very positive.
Here are some of the key findings:
- Almost three in four (73 percent) Canadians polled agree Canada should be a preferred global supplier of energy because of its climate and environmental record.
- Nearly seven in ten (69 percent) say they have personally benefited from the oil and gas sector.
- 70 percent agree that resource development could help alleviate systemic poverty within Indigenous communities.
- Two thirds of Canadians (66 percent) support Canada’s role as a global oil and gas supplier.
- Almost three in four Canadians (73 percent) acknowledge Canada’s prosperity is supported by the oil and gas sector and that Canadian oil and gas production helps fund important social programs like health care and education.
Referring to the fact 73 percent of Canadians polled also agreed it’s essential First Nations be included in project development to establish long-term revenue sources for their communities, JP Gladu, acting Executive Director of Indigenous Resource Network, noted the following:
Taken collectively, this is all exceptional news for all of Canada’s natural resource industries. Your support for our positive, fact based message about why the world needs more Canadian energy and resources is helping make a difference.
A Majority of Canadians ‘Agree’ that Canada Should be a Preferred Global Supplier of Energy: POLL
A new public opinion survey conducted by Research Co. on behalf of Canada Action has found that a majority of Canadians across the country support the vital oil and gas sector! The poll, released on July 14th, showed that 68% of participants ‘agree’ that Canada should be the choice supplier to meet future oil and gas demand, while two-thirds (66%) support Canada’s role as a global oil and gas supplier versus just 19% who were opposed.
Additionally, almost three in four Canadians (73%) acknowledged Canada’s prosperity is supported by the oil and gas sector and that the industry helps fund important social programs such as healthcare and education.
“It’s a strong and very welcome result, and one that shows most Canadians feel proud of the work their energy sector is doing to enhance its record on ESG criteria. The results also show most Canadians believe the world needs more Canadian energy and are aware of the importance of the sector to the prosperity of families and communities right across the country,” said Cody Battershill, Canada Action founder.
Between 2000 and 2018, approximately $493 billion in government revenues were generated by Canada’s oil and gas industry, capital which has been used pay for schools, hospitals, roads and the workers that make these projects possible/operational. Every Canadian has benefitted from oil and gas in some way, shape, or form; nearly seven-in-ten Canadians (69%) of participants also acknowledged that Canada’s oil and gas sector has benefitted them personally.
Nearly three-in-four Canadians (73%) also agreed that global markets should prioritize jurisdictions like Canada that are leaders in climate action and environmental protection. This is a logical choice as Canada’s oil and gas industry ranks number one for Environmental, Social, and Governance (ESG) practices among nations with the largest oil reserves, and of the world’s top 20 producers, 2nd for governance and social progress and 4th on the environment.
“Given the world requires $525 billion of new oil and gas investment per year just to meet current demand, we think we ought to push for Canada to receive a sizeable share of this investment,” Battershill added.
Canada’s world-class ESG performance shows that our nation is home to one of the most environmentally conscious and sustainable oil and gas industries in the world. With future supply gaps on the horizon, it only makes sense that ESG-focussed investors look to Canada as a choice supplier for as long as the world needs oil – and it will for many decades to come.
73% of participants also agreed that it’s essential First Nations be included in project development to establish long-term revenue sources for their communities.
“These are heartening results. Indigenous nations and businesses want to be partners in resource development. This poll shows there’s widespread support to work together for the benefit of all,” said JP Gladu, acting Executive Director of the Indigenous Resource Network.
Below is a summary of all poll results collected by Research Co.
Poll Results:
– Two-thirds of Canadians (66%) support Canada’s role as a global oil and gas supplier, while one-in-five (19%) are opposed
– Almost seven-in-ten Canadians (69%) say the oil and gas industry has benefitted them personally
– Almost three-in-four Canadians (73%) agree that global markets should prioritize jurisdictions like Canada that are leaders in climate action and environmental protection
– Almost three-in-four Canadians (73%) agree that Canadian oil and gas products help fund important social programs like healthcare and education for Canadians
– More than seven-in-ten Canadians (72%) agree that sustainability measures are better served when energy is sourced from Canada compared to less environmentally friendly jurisdictions
– Seven-in-ten Canadians (70%) agree that Canada should be the choice recipient of investments due to its climate leadership and environmental policies
– More than two-thirds of Canadians (68%) agree that Canada should be the choice supplier to meet future oil and gas demand
– Over three-in-five Canadians (64%) agree that investing in Canada’s oil and gas sector makes sense if you value climate leadership, social progress and transparency
– Fewer than half of Canadians (45%) were aware that Canada is a leader for environmental, social and governance (ESG) practices among countries with the largest oil and gas reserves
– More than two-in-five Canadians (43%) were aware that Canadian energy companies are global leaders in carbon capture, utilization and storage
– Just over two-in-five Canadians (41%) were aware that Canadian natural gas exported to Asia can reduce global emissions by displacing coal power usage
– Almost three-in-four Canadians (73%) agree that global markets should prioritize jurisdictions like Canada that are leaders in climate leadership and environmental protection
– Almost three-in-four Canadians (73%) agree that Canada should be a destination of choice for energy investment due to its climate leadership, worker safety and environmental policies
– More than two-thirds of Canadians (68%) agree that Canada should be the choice supplier to meet future oil and gas demand
– Almost three-in-four Canadians (74%) think Canada should act in a similar fashion to Norway when it comes to energy practices, as the nation has said they will continue to maximize the value created from their oil and gas reserves
– Almost three-in-four Canadians (73%) agree that Canada’s prosperity is supported by the oil and gas sector practices
– Almost three-in-four Canadians (73%) agree that it is essential that First Nations be included in project development to establish long-term revenue sources for their communities
– Seven-in-ten Canadians (70%) agree that Systemic poverty within Indigenous communities could be alleviated with resource development
– Almost seven-in-ten Canadians (69%) agree that Indigenous and non-Indigenous communities in Canada should play a role in supplying our energy to meet domestic and global demands
– More than half of Canadians (56%) agree with the decision related to the TMX expansion, while one-in-five (21%) disagree, and a similar proportion (22%) are undecided. Support for the decision is highest in Alberta and Atlantic Canada (each at 63%), followed by Ontario (57%), Saskatchewan and Manitoba (56%), British Columbia (55%) and Quebec (52%)
– Over three-in-five Canadians (62%) think the Indigenous communities support the Trans Mountain Pipeline (TMX) project
– More than three-in-ten Canadians (31%) are more likely to support the Trans Mountain expansion upon learning of the views of Indigenous communities, while 7% are less likely to support. More than two-in-five (47%) say their position has not changed as a result of this fact
Results were based on an online study among 1,000 adults in Canada, conducted July 7 to 9, 2021 and weighted for age, gender and region. The margin of error—which measures sample variability—is +/- 3.1 percentage points, nineteen times out of twenty.
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Alberta
Premier Smith says Auto Insurance reforms mean lower premiums and better services for Alberta drivers
Premier Smith says Auto Insurance reforms may still result in a publicly owned system
Better, faster, more affordable auto insurance
Alberta’s government is introducing a new auto insurance system that will provide better and faster services to Albertans while reducing auto insurance premiums.
After hearing from more than 16,000 Albertans through an online survey about their priorities for auto insurance policies, Alberta’s government is introducing a new privately delivered, care-focused auto insurance system.
Right now, insurance in the province is not affordable or care focused. Despite high premiums, Albertans injured in collisions do not get the timely medical care and income support they need in a system that is complex to navigate. When fully implemented, Alberta’s new auto insurance system will deliver better and faster care for those involved in collisions, and Albertans will see cost savings up to $400 per year.
“Albertans have been clear they need an auto insurance system that provides better, faster care and is more affordable. When it’s implemented, our new privately delivered, care-centred insurance system will put the focus on Albertans’ recovery, providing more effective support and will deliver lower rates.”
“High auto insurance rates put strain on Albertans. By shifting to a system that offers improved benefits and support, we are providing better and faster care to Albertans, with lower costs.”
Albertans who suffer injuries due to a collision currently wait months for a simple claim to be resolved and can wait years for claims related to more serious and life-changing injuries to addressed. Additionally, the medical and financial benefits they receive often expire before they’re fully recovered.
Under the new system, Albertans who suffer catastrophic injuries will receive treatment and care for the rest of their lives. Those who sustain serious injuries will receive treatment until they are fully recovered. These changes mirror and build upon the Saskatchewan insurance model, where at-fault drivers can be sued for pain and suffering damages if they are convicted of a criminal offence, such as impaired driving or dangerous driving, or conviction of certain offenses under the Traffic Safety Act.
Work on this new auto insurance system will require legislation in the spring of 2025. In order to reconfigure auto insurance policies for 3.4 million Albertans, auto insurance companies need time to create and implement the new system. Alberta’s government expects the new system to be fully implemented by January 2027.
In the interim, starting in January 2025, the good driver rate cap will be adjusted to a 7.5% increase due to high legal costs, increasing vehicle damage repair costs and natural disaster costs. This protects good drivers from significant rate increases while ensuring that auto insurance providers remain financially viable in Alberta.
Albertans have been clear that they still want premiums to be based on risk. Bad drivers will continue to pay higher premiums than good drivers.
By providing significantly enhanced medical, rehabilitation and income support benefits, this system supports Albertans injured in collisions while reducing the impact of litigation costs on the amount that Albertans pay for their insurance.
“Keeping more money in Albertans’ pockets is one of the best ways to address the rising cost of living. This shift to a care-first automobile insurance system will do just that by helping lower premiums for people across the province.”
Quick facts
- Alberta’s government commissioned two auto insurance reports, which showed that legal fees and litigation costs tied to the province’s current system significantly increase premiums.
- A 2023 report by MNP shows
Alberta maintains a balanced budget while ensuring pressures from population growth are being addressed.
Alberta faces rising risks, including ongoing resource volatility, geopolitical instability and rising pressures at home. With more than 450,000 people moving to Alberta in the last three years, the province has allocated hundreds of millions of dollars to address these pressures and ensure Albertans continue to be supported. Alberta’s government is determined to make every dollar go further with targeted and responsible spending on the priorities of Albertans.
The province is forecasting a $4.6 billion surplus at the end of 2024-25, up from the $2.9 billion first quarter forecast and $355 million from budget, due mainly to higher revenue from personal income taxes and non-renewable resources.
Given the current significant uncertainty in global geopolitics and energy markets, Alberta’s government must continue to make prudent choices to meet its responsibilities, including ongoing bargaining for thousands of public sector workers, fast-tracking school construction, cutting personal income taxes and ensuring Alberta’s surging population has access to high-quality health care, education and other public services.
“These are challenging times, but I believe Alberta is up to the challenge. By being intentional with every dollar, we can boost our prosperity and quality of life now and in the future.”
Midway through 2024-25, the province has stepped up to boost support to Albertans this fiscal year through key investments, including:
- $716 million to Health for physician compensation incentives and to help Alberta Health Services provide services to a growing and aging population.
- $125 million to address enrollment growth pressures in Alberta schools.
- $847 million for disaster and emergency assistance, including:
- $647 million to fight the Jasper wildfires
- $163 million for the Wildfire Disaster Recovery Program
- $5 million to support the municipality of Jasper (half to help with tourism recovery)
- $12 million to match donations to the Canadian Red Cross
- $20 million for emergency evacuation payments to evacuees in communities impacted by wildfires
- $240 million more for Seniors, Community and Social Services to support social support programs.
Looking forward, the province has adjusted its forecast for the price of oil to US$74 per barrel of West Texas Intermediate. It expects to earn more for its crude oil, with a narrowing of the light-heavy differential around US$14 per barrel, higher demand for heavier crude grades and a growing export capacity through the Trans Mountain pipeline. Despite these changes, Alberta still risks running a deficit in the coming fiscal year should oil prices continue to drop below $70 per barrel.
After a 4.4 per cent surge in the 2024 census year, Alberta’s population growth is expected to slow to 2.5 per cent in 2025, lower than the first quarter forecast of 3.2 per cent growth because of reduced immigration and non-permanent residents targets by the federal government.
Revenue
Revenue for 2024-25 is forecast at $77.9 billion, an increase of $4.4 billion from Budget 2024, including:
- $16.6 billion forecast from personal income taxes, up from $15.6 billion at budget.
- $20.3 billion forecast from non-renewable resource revenue, up from $17.3 billion at budget.
Expense
Expense for 2024-25 is forecast at $73.3 billion, an increase of $143 million from Budget 2024.
Surplus cash
After calculations and adjustments, $2.9 billion in surplus cash is forecast.
- $1.4 billion or half will pay debt coming due.
- The other half, or $1.4 billion, will be put into the Alberta Fund, which can be spent on further debt repayment, deposited into the Alberta Heritage Savings Trust Fund and/or spent on one-time initiatives.
Contingency
Of the $2 billion contingency included in Budget 2024, a preliminary allocation of $1.7 billion is forecast.
Alberta Heritage Savings Trust Fund
The Alberta Heritage Savings Trust Fund grew in the second quarter to a market value of $24.3 billion as of Sept. 30, 2024, up from $23.4 billion at the end of the first quarter.
- The fund earned a 3.7 per cent return from July to September with a net investment income of $616 million, up from the 2.1 per cent return during the first quarter.
Debt
Taxpayer-supported debt is forecast at $84 billion as of March 31, 2025, $3.8 billion less than estimated in the budget because the higher surplus has lowered borrowing requirements.
- Debt servicing costs are forecast at $3.2 billion, down $216 million from budget.
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