Covid 19, coupled with a global energy price war, has had a profound impact on energy markets and the economies that rely on them. While the implications of the current downturn will play out for months and years to come, a few key elements are becoming evident. The first and most profound impact has been a dramatic drop in demand for energy, be it oil, gas or power. This has left the government and businesses scrambling to develop contingency plans to handle an emergency that is without a clear end in sight.
One thing is certain – a successful strategy for coping with the turmoil will entail flexibility, constant re-evaluation and refinement of strategy, economic diversification and a rethink of the provinces fiscal regime to ensure a resilient economy so that Alberta can be well placed to take advantage of emerging opportunities once the pandemic, and price wars, are finally behind us.
On July 15th The Energy Roundtable’s virtual event on Alberta’s Economic Future provided a detailed review of the changes brought about by Covid 19 and global price wars and the implications for the province’s economy. Topics included:
|Chair||Thomas Timmins, Partner; Leader, Energy Sector Group (Canada) Gowling WLG|
|9:00 am||Welcome remarks by Elan MacDonald, Senior Vice President, Global Public Affairs|
|9:10 am||Panel discussion
|10:25am||Close by Jason Langrish, President, The Energy Roundtable|