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When Ottawa announced it would do something to help the ailing oil and gas industry in the wake of the COVID pandemic and subsequent price war, we were expecting something different than what was delivered.
The feds have announced a $1.7 billion plan to clean up orphaned wells in a bid to reverse the tide of decline in the patch. A nice move but it completely missed the mark but probably what we should have expected from a Prime Minister who despises oil while favoring the Quebec electrical industry’s push to be the primary energy exporter in the country.
Investing in clean-up is welcomed but completely misses the production side of the industry. It would be like trying to help auto makers by funding vehicle repair shops, arguing it’s still automotive.
Production is where the jobs are. It’s where the investment flows. And it’s what generates income and government royalties. You’d almost think the feds were going out of their way to undermine the West and the provincial governments it elects.
