(Don't) Drill Baby, Drill!
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FAFO with Canada.
Link to videoThe presenter is essentially correct, although he does not appear understand that in Canada, the provinces hold sway over onshore natural resource development and the energy industry. Outside of some specific regulatory issues the federal government has little say or any constitutional jurisdiction. Can’t fault your man for that, the majority of Canadians don’t understand it either.
However, it is not like expanding capabilities in downstream facilities like refining and petrochemicals has not been considered or tried. Both Alberta and Ontario have delved into expansion only to discover that the export market isn’t there and industry has little appetite for the risks involved. Our Prime Minister in waiting, Pierre Poilievre, that your presenter quotes and whose Conservative Party will win a landslide majority sometime this spring talks big about expansion but, as a Federal government politician, really has little power to make it happen. It resonates with the electorate but that is about it.
In any case I have already addressed this very issue here on at least one occasion. Your presenter who knows what he is talking about, only reinforces what I have maintained all along:
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Oil and gas drillers failed to show up at the Trump administration's sale of more than 1 million acres (404,686 hectares) in Alaska's Cook Inlet on Wednesday, declining to submit even a single bid.
The sale was the first of six Alaska offshore oil and gas auctions mandated through 2032 by U.S. President Donald Trump's One Big Beautiful Bill Act, which he signed into law last year.
Trump has sought to expand domestic oil and gas resources, including in Alaska where production has been in decline for decades. Drilling in the Arctic and Alaska is a high-risk endeavor, involving decades of work and billions of dollars of investment.
Officials from the U.S. Bureau of Ocean Energy Management had planned to read bids via a livestream on the agency's website beginning at 10 a.m. Alaska time (1900 GMT). Bids were due a day earlier, on March 3.
Instead, BOEM's sale website was updated to reflect the lack of bids.
"At this time, no bids have been received," BOEM wrote. "In accordance with OBBBA, we will continue to hold leasing opportunities for Cook Inlet so that industry has a regular, predictable federal leasing schedule that ensures we achieve President Trump's American Energy Dominance Agenda."
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