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Post says Whitecap boss sees patch as fed whipping boy
2021-08-18 09:14 ET - In the News
The Financial Post reports in its Wednesday edition that as another federal election kicks off, the Canadian oil and gas sector finds itself in a familiar position. Postmedia's Chris Varcoe writes that the industry is hoping for policy certainty and a concrete discussion about the future of the sector, but expects to become a target for tough talk about new policies. "The debate will be on obviously climate change," said analyst Jeremy McCrea at Raymond James. "If oil and gas can stay under the radar and not be the bogeyman that it's been in prior elections, a lot of these executives will be happy." That is the hope. Whitecap Resources chief executive officer Grant Fagerheim said there are strategic policy issues to dissect, such as the role of carbon capture, utilization and storage to reduce emissions. However, he does not see a lot of nuance in the days ahead. "I am not expecting much, other than the continual rhetoric ... with the blame placed on fossil fuel energy," Mr. Fagerheim told Postmedia. "I don't hold up a whole bunch of hope." During the 2019 campaign, the oil and gas sector was caught in the political crossfire of a divisive carbon tax clash and climate debate between the parties.
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