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Regulation Transformed: Consultation, Conflict and Regulation in Alberta’s Oil and Gas Industry

Regulation Transformed: Consultation, Conflict and Regulation in Alberta’s Oil and Gas Industry. Oil $55 (U.S.) barrel Natural Gas $8 (U.S.) btu. Alberta Oil Patch: Basic Facts. $62.5 billion (Cdn) value in 2003 73 % of Canadian total Oil: 65% of Canadian total

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Regulation Transformed: Consultation, Conflict and Regulation in Alberta’s Oil and Gas Industry

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  1. Regulation Transformed:Consultation, Conflict and Regulation in Alberta’s Oil and Gas Industry

  2. Oil $55 (U.S.) barrelNatural Gas $8 (U.S.) btu

  3. Alberta Oil Patch: Basic Facts • $62.5 billion (Cdn) value in 2003 • 73 % of Canadian total • Oil: 65% of Canadian total • Natural Gas: 76% of Canadian total

  4. Oil Sands • Reserves of 174 billion barrels • Resources equal 315 billion barrels • Production of 1,000,000 barrels/day

  5. Four Levels of Regulation • Local/municipal • Provincial • National • Inter-provincial/International

  6. Local Regulation • Municipalities fall under Municipal Act • Mainly land use policy • Intervener role with EUB

  7. Provincial Regulation • 13 Departments involved • Dozens of pieces of legislation • Primarily Alberta Energy and Alberta Environment • Energy and Utilities Board – broad regulatory powers

  8. National Regulation • Environment Canada • Natural Resources Canada • National Energy Board – broad regulatory powers over interprovincial and international trade

  9. Interprovincial and International Regulation • ASC/OSC: new reserve reporting requirements • Kyoto Protocol • NAFTA • Bush NEP of May 2001

  10. Regulatory Issues • A move from economic to social regulation (Culture Wars in the Oilpatch) • A division between large and small producers • impact of OSC/ASC reporting requirements • Kyoto – large firms compliant • Wabiskaw-McMurray natural gas shut-ins

  11. The Future • Continued federal-provincial conflict • Security concerns • Continued conflict between large and small producers

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