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Use Cases
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Resources
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Pricing
History of Canadian Oil patch since 1980
Events
Berger Inquiry
1974 - 1977
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The Berger inquiry examines the social, environmental and economic impact of the proposed Mackenzie Valley pipeline and concludes on a 10 year moratorium.
Kyoto Agreement ratification
1997 - 2002
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Agrrement is reached among countries to limit greenhouse gases. This is followed by the Federal Government's ratification.
First year Bitumen production exceeded that of conventional crude in Alberta
2001
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271 million bbls versus 264 million bbls
Saskatchewan reduces royalty rates to attract new activity
2002
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Threat of Iraq war: gasoline spikes to record high prices in Canada (90c)
2003
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Application to build MacKenzie Valley pipeline- estimated cost $7.5Billion
2004
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Federal government sells final 19% ownership of Petro-Canada
2004
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Natural gas at summer all time high price $10.67/gj
2005
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Quebec to introduce Carbon Tax to meet Kyoto obligations
2006
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B.C. announces plans to introduce Carbon Tax at consumer level
2008
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Encana indefinitely delays split due to turmoil in world financial markets
2008
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Encana and Cenovus begin to operate as separate entities
2009
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CAPP introduces guidelines for hydraulic fracturing to enhance water management
2011
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Keystone XL re-routed to avoid environmentally sensitive in Nebraska
2011
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US government rejects Keystone XL proposal
2012
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Alberta
Alberta introduces royalty program
2007
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Expected to increase government take by $1.4Billion by 2010
Alberta plan to reduce GHG intensity by 12% for major industrial producers
2007
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Alberta introduces royalty adjustments for unintended consequences
2008
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Additional incentives for deep oil and gas wells
Transitional Royalty Program
2008
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To enable companies to choose between old and new program for wells drilled over next 5 years
Alberta government extends incentive programto March 2011 to stimualte activity
2009
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Max 5% royalty on first year plus credit of $200/metre
Alberta royalty credit of $200/metre and royalty reduction for some wells
2009
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Starting production 1st of April to 31st March
Further changes to royalty system to remain competitive with other jurisdictions
2010
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Canadian and Alberta governments plan to expand environmental monitoring
2012
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In northeast Alberta oilsands
Plans to cancel some oilsands leases in Conservation areas
2012
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Federal
National Energy Program
1980
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Introduced by Liberal Government
Deregulation of Oil Prices
1985
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Western Accord by Biran Mulroney's Conservative government allowed oil producers to sell at market value
Federal government ratifies Kyoto Agreement
2002
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Federal government tax on income trusts resulting in substantial drop in value
2006
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Federal government introduces intensity based targets to reduce GHG emissions
2007
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Federal government outlines plans for GHG emissions
2008
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Deadline for conversion of Income Trusts to Corporations
2010
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