Texas-bound: Ontario, Quebec and Alberta energy ministers head south to drum up business

Three provincial energy ministers are in Texas this week trying to seize some consideration on the world stage and drum up funding to develop their industries again house.

The ministers might have the same aim in thoughts, however every has a really totally different deal with the kind of energy they’re making the centre of consideration throughout their time at CERAWeek, a worldwide energy convention.

It is the primary time Quebec has had a presence on the summit.

“We’re on the lookout for investments, we’re on the lookout for companions and we’re additionally right here to present people who Quebec is open for business, that we would like to see initiatives which might be going to assist us transfer the needle on local weather change, but additionally assist Quebecers make a bit cash,” stated Quebec’s Affiliate Minister for Financial system Christopher Skeete, who can also be answerable for energy.

The province is called a hydroelectric powerhouse, however Skeete is in Houston to spotlight Quebec’s potential as a supply of important minerals.

“We’re wealthy in nickel, we’re wealthy in lithium,” stated Skeete, in an interview with CBC Information on the sidelines of the occasion. “The potential is big. The alternatives are enormous. And we now have a duty to be right here.”

This week’s occasion in Houston has attracted greater than 7,500 political leaders, trade executives and others from about 80 totally different nations.

“There’s so much occurring within the energy house,” stated Ontario energy minister Todd Smith.

“Ontario is main the way in which on small modular reactors, not simply in North America however around the globe. It has been an awesome alternative to share the expertise that we now have.”

Final fall, the Canada Infrastructure Financial institution, a federal Crown company, made a cope with Ontario Energy Era to present nearly $1 billion to construct the nation’s first small modular reactor.

An idea picture of a small modular reactor facility. (GE-Hitachi)

In the meantime, Alberta is specializing in its conventional oil and pure fuel sector and its clear tech trade. The province can also be sponsoring the convention.

“The dialogue ranges from oil and fuel to transitional renewables, carbon seize, [and] hydrogen, so it varies,” stated Peter Guthrie, Alberta’s energy minister.

Presently, there are a number of new carbon seize and storage initiatives proposed in Alberta to assist scale back the quantity of air pollution from the economic sector that is launched into the ambiance and contributing to local weather change.

There’s a distinctive Canadian story to be informed, stated Kevin Birn, a vice-president with S&P World Commodity Insights.

“Canada has an amazing quantity of energy endowment from hydro to important minerals infrastructure to oil and fuel and it is totally different throughout the areas. Telling that story is necessary to assist folks perceive it and have curiosity in investing in Canada,” he stated.

U.S. Secretary of Energy Jennifer Granholm promotes the Inflation Discount Act throughout her speech at CERAWeek in Houston, Texas. (CERAWeek by S&P World)

The three provincial energy ministers say they’re working collectively to promote Canada has a protected and dependable place to do business.

Nonetheless, they’re competing for funding {dollars} not solely with one another however towards different jurisdictions around the globe.

America is garnering appreciable consideration after introducing the Inflation Discount Act, which incorporates wide-ranging subsidies and different monetary incentives value tens of billions of {dollars} towards creating low-carbon sources of energy.

“If you happen to put all of it collectively, you may see that the Biden-Harris administration has made the US probably the most enticing funding panorama for brand spanking new energy and decarbonization applied sciences. In lots of instances, the truth is, in a ton of instances, it makes the US irresistible,” stated U.S. Secretary of Energy Jennifer Granholm to attendees on Wednesday.

There isn’t any political consultant from the federal authorities this 12 months, which is a notable absence because the pure assets minister is normally a speaker. In 2017, Prime Minister Justin Trudeau himself gave a keynote tackle.