United Conservative Party leader Jason Kenney addresses supporters in Calgary, Alta., Tuesday, April 16, 2019. (Jeff McIntosh/The Canadian Press)

Oil and gas sector applauds new Alberta premier’s many pro-business pledges

Canadian Association of Petroleum Producers offered congratulations to Jason Kenney

The Alberta oilpatch is applauding the provincial election win by Jason Kenney and his United Conservatives.

The Canadian Association of Petroleum Producers offered congratulations and welcomed the UCP’s commitment to making regulatory, economic and fiscal policy reforms.

It says it endorsed UCP election promises to cut the corporate tax rate to eight per cent from 12 per cent, develop a natural gas strategy, reduce red tape and complete a review of the Alberta Energy Regulator within the first 180 days.

In a morning report, analysts at Desjardins Energy Research agreed the election results were a “positive development” for the oil and gas sector.

They add, however, that the province’s difficulty in moving oil to market due to a lack of pipeline capacity — blamed for steep discounts in western Canadian crude prices last fall — will remain a major thorn in the side of the new government.

The TSX capped energy index, which tracks oil and gas company stock prices, was up almost one per cent in early trading Wednesday morning, led by gains by many Canadian oil and gas producers including Suncor Energy Inc. and Imperial Oil Ltd. and a strengthening U.S. benchmark oil price.

CAPP points out that the UCP has also pledged to spend up to $30 million to combat misleading news reports about the industry, and to create a “war room” to examine foreign-funded anti-oil campaigns.

“CAPP is encouraged by premier-elect Jason Kenney’s commitment to the oil and natural gas industry and looks forward to working constructively with the UCP to ensure the province meets its energy goals,” it said.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

No changes to Teck pollution limits, says Province

The B.C. Ministry of Environment has moved to quash fears mining pollution… Continue reading

Local volleyballers steal silver at provincials

Team entered tournament ranked 14th, finished second out of 56 teams

Structure fire displaces Sparwood family

Family uninjured. One pet lost. House remains uninhabitable due to severe damage.

Junior journalism program launches in Fernie

Young writers excited to step into world of journalism, work to be published in upcoming edition

New MRI unit increases access

Interior Health aims for 5100 exams in Cranbrook this year

What’s age got to do with it? B.C. couple with 45-year gap talks happy marriage

An Armstrong couple that has 45-year age gap began turning heads after being featured on show Extreme Love.

WATCH: South Vancouver Island shooting an ‘isolated and targeted’ incident, say police

One person in custody, another fled following shooting and crash on West Shore

Woe, Canada: Bruins down Maple Leafs 5-1 in Game 7

No Canadian teams left in Stanley Cup playoffs

Defence accuses officer of ‘incompetence’ in trial for B.C. man accused in daughters’ murder

Double murder trial for the Victoria father accused of killing his two young daughters continues

Should B.C. parents receive money if they make sure their kids are vaccinated?

New survey looks at public opinion around government’s role in forcing immunizations

B.C. men challenge constitutionality of Canada’s secret no-fly list

Parvkar Singh Dulai says he received a “denial of boarding” notification under the no-fly program last May 17

Murder on B.C. property didn’t need to be disclosed before sale, court rules

Buyer had tried to break contract after learning a man with ties to crime had been murdered there

B.C.’s largest Vaisakhi festival target of threatening Facebook post: Surrey RCMP

Police say they are investigating the posts on Facebook, after local MLA forwarded screenshots

Pug life: B.C. town boasts waggish list of dog names

Freedom-of-information request lists most ‘pupular’ dog names registered in White Rock

Most Read