Business
Red Deer Chamber Hears Energy Industry Update
(Chris Montgomery – Manager, E & P, Communications and Outreach – Canadian Association of Petroleum Producers)
By Sheldon Spackman
With many in Central Alberta wondering when things are going to turn around in the Oilpatch, the Red Deer Chamber of Commerce received an update on the current state of the industry during their monthly luncheon on Tuesday.
The Chamber’s Guest speaker was Chris Montgomery, President of the Canadian Association of Petroleum Producers or CAPP. Montgomery says the bottom line is they’re not sure just yet when things are going to turn around. Montgomery says certain conditions need to be in place for that to happen, with many factors involved.
He says the first being prices and cost structures to be right, making sure government has the right policy environment and most importantly, making sure the industry can move it’s product to other markets, aside from the U.S., which is not only the Canadian Energy Industry’s biggest customer but also it’s biggest competitor.
Montgomery says it’s extremely important for Canada to get it’s products to other foreign markets like Asia for example and shipped from the shores of our country. Right now, Canadian energy products have to go through the U.S. before getting shipped elsewhere. However, with the U.S. increasing it’s supply of Oil and Natural Gas, Montgomery says it now makes even less sense for us to rely on the States to ship our products.
Montgomery says there are three pipeline projects that could address this issue. The Northern Gateway Pipeline that would ship Alberta oil to Kitimat, B.C., the existing Kinder Morgan Pipeline that goes through Burnaby, B.C. and the Energy East Pipeline that would ship Alberta crude to St. John, New Brunswick. He says the fates of those projects could be determined by the Federal government over the course of the next few months.
Over the last three years, Montgomery says there has been a 62 percent reduction in Capital Investment in Canada’s Oil and Natural Gas Industry, a roughly $50 billion dollar drop to $31 billion dollars.
As for drilling activity, the industry forecast anticipates 3,562 wells to be drilled in Western Canada this year, roughly a third of what was drilled two years ago.
Alberta’s provincial government also has a carbon levy planned for the new year as part of it’s efforts to help fight climate change. Montgomery says he would like to see that get done the right way as well, particularily when it comes to methane emissions. He says the government’s policies in that regard can’t impact a company’s ability to operate.
Montgomery says there is some positive news though, saying there is roughly $30 billion dollars in private capital ready to be invested into Canada’s Oil and Natural Gas Industry, once we can get those products to other foreign markets from our shores.
2025 Federal Election
Columnist warns Carney Liberals will consider a home equity tax on primary residences

From LifeSiteNews
The Liberals paid a group called Generation Squeeze, led by activist Paul Kershaw, to study how the government could tap into Canadiansā home equity ā including their primary residences.
Winnipeg Sun Columnist Kevin Klein is sounding the alarm there is substantial evidence the Carney Liberal Party is considering implementing a home equity tax on Canadiansā primary residences as a potential huge source of funds to bring down the massive national debt their spending created.
Klein wrote in hisĀ April 23 columnĀ and stated in his accompanying video presentation:
The Canada Mortgage and Housing Corporation (CMHC) ā a federal Crown corporation ā has investigated the possibility of a home equity tax on more than one occasion, using taxpayer dollars to fund that research. This was not backroom speculation. It was real, documented work.
The Liberals paid a group called Generation Squeeze, led by activist Paul Kershaw, to study how the government could tap into Canadiansā home equity ā including their primary residences.
Kershaw, by the way, believes homeowners are ālottery winnersā who didnāt earn their wealth but lucked into it. Thatās the ideology being advanced to the highest levels of government.
It didnāt stop there. These proposals were presented directly to federal cabinet ministers. Thatās on record, and most of those same ministers are now part of Mark Carneyās team as he positions himself as the Liberalsā next leader.
Watch below Kleinās 7-minute, impassionate warning to Canadians about this looming major new tax should the Liberals win Mondayās election.
Klein further adds:
The total home equity held by Canadians is over $4.7 trillion. Itās the largest pool of private wealth in the country. For millions of Canadians ā especially baby boomers ā itās the only retirement fund they have. They donāt have big pensions. They have a paid-off house and a hope that it will carry them through their later years. Yet, thatās what Ottawa has quietly been circling.
The Canadian Taxpayerās Federation has researched this issue and published a report on the alarming amount of new taxation a homeowner equity tax could cost Canadians who sell their homes that have increased in value over the years they have lived in it. It is a shocker!
A Google search on the question, āwhat is a home equity tax?ā returns the response:
A home equity tax, simply put, itās a proposed levy on the increased value of your home, specifically, on your principal residence. The idea is for Government to raise money by taxing wealth accumulation from rising property values.
The Canadian Taxpayers Federation has provided aĀ Home Equity Tax Calculator BackgrounderĀ to help Canadians understand what the impact of three different types of Home Equity Tax Calculators would have on home owners. The required tax payment resulting from all three is a shocker.
Keep in mind that World Economic Forum policies intend to eventually eliminate all private home ownership and have the state own and control not only all residences, but also eliminate car ownership, and control when and where you may live and travel.
Carney, Trudeau and several other members of the Liberal government in key positions are heavily connected to the WEF.
2025 Federal Election
Carneyās Hidden Climate Finance Agenda

From Energy Now
By Tammy Nemeth and Ron Wallace
It is high time that Canadians discuss and understand Mark Carneyās avowed plan to re-align capital with global Net Zero goals.
Mark Carney’s economic vision for Canada, one that spans energy, housing and defence, rests on an unspoken, largely undisclosed, linchpin: Climate Finance ā one that promises a Net Zero future for Canada but which masks a radical economic overhaul.
Regrettably, Carneyās potential approach to a Net Zero future remains largely unexamined in this election. As the former chair of the Glasgow Financial Alliance for Net Zero (GFANZ), Carney has proposed newĀ policies,Ā offices,Ā agencies,Ā andĀ bureausĀ required to achieve these goals.. Pieced together from his presentations, discussions, testimonies and book, Carneyās approach to climate finance appears to have four pillars: mandatory climate disclosures, mandatory transition plans, centralized data sharing via the United Nationsā Net Zero Data Public Utility (NZDPU) and compliance with voluntary carbon markets (VCMs). There are serious issues for Canadaās economy if these principles were to form the core values for policies under a potential Liberal government.
About the first pillar Carney has beenĀ unequivocal: āAchieving net zero requires a whole economy transition.ā Ā This would require a restructuring energy and financial systems to shift away from fossil fuels to renewable energy with CarneyĀ insistingĀ repeatedly in his book that āevery financial [and business] decision takes climate change into account.ā Climate finance, unlike broaderĀ sustainable financeĀ with its Environmental, Social, and Governance (ESG) focus would channel capital into sectors aligned with a 2050 Net Zero trajectory.Ā Carney states: āCompanies, and those who invest in themā¦who are part of the solution, will be rewarded. Those lagging behindā¦will be punished.ā Ā In other words, capital would flow to compliant firms but be withheld from so-called āhigh emittersā.
How will investors, banks and insurers distinguish solution from problem? Mandatory climate disclosures,Ā aligned withĀ the International Sustainability Standards Board (ISSB), would compel firms to report emissions and outline their Net Zero strategies.Ā Canadaās Sustainability Standards BoardĀ has adopted these methodologies,Ā despite concerns they would disadvantage Canadian businesses. Here, Carney repeatedly emphasizes disclosures as the cornerstone to track emissions data required to shift capital away from āhigh emittersā. Without this, he claims, large institutional investors lack the data on supply chains to make informed decisions to shift capital to businesses that are Net Zero compliant.
The second pillar, Mandatory Transition Plans would require companies to map a 2050 Net Zero trajectory for emission reduction targets. Failure to meet those targets would invite pressure from investors, banks, or activists, who may pursue litigation for non-compliance. The UKāsĀ Transition Plan Task Force, now part of ISSB, provides this standardized framework.Ā Carney, while at GFANZ, advocated using transition plans for a āmanaged phase-outā of high-emitting assets like coal, oil and gas, not just through divestment but by financing emissions reductions. āAs part of their transition planning, [GFANZ] members should establish and apply financing policies to phase out and align carbon-intensive sectors and activities, such as thermal coal, oil and gas and deforestation, not only through asset divestment but also through transition finance that reduces real world emissions. To assist with these efforts GFANZ will continue to develop and implement a framework for the Managed Phase-out of high-emitting assets.ā Clearly, the purpose of this is to ensure companies either decarbonize or face capital withdrawal.
The third pillar is the United Nationsā Net Zero Data Public Utility (NZDPU), a centralized platform for emissions and transition data.Ā Carney insistsĀ these data be freely accessible, enabling investors, banks and insurers to judge companiesā progress to Net Zero. As CarneyĀ noted in 2021: āPrivate finance is judgingā¦banks, pension funds and asset managers have to show where they are in the transition to Net Zero.ā Hence, compliant firms would receive investment; laggards would face divestment.
Finally, voluntary carbon markets (VCMs) allow companies toĀ offset emissionsĀ by purchasing credits from projects like reforestation. Carney, who launched theĀ Taskforce on Scaling VCMsĀ in 2020, has insisted on monitoring, verification and lifecycle tracking. Ā At aĀ 2024 Beijing conference, he suggested major jurisdictions could establish VCMs by COP 30 (planned for 2025 in Brazil) to create a global market. If Canada mandates VCMs, businesses especially small and medium enterprises (SMEs) would face much higher compliance costs with credits available only to those that demonstrate progress with transition plans.
These potential mandatory disclosures and transition plans would burden Canadian businesses with material costs and legal risks that constitute an economic gamble which few may recognize but all should weigh. Do Canadians truly want a government that has an undisclosed climate finance agenda that would be subservient to an opaque globalized Net Zero agenda?
Tammy Nemeth is a U.K.-based strategic energy analyst. Ron Wallace is an executive fellow of the Canadian Global Affairs Institute and the Canada West Foundation.
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