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Unpacking Canada’s Budget 2024

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The 2024 Canadian Federal Budget was released on April 16th. This year’s budget is focused on affordability, housing, and spending on social programs such as pharmaceutical care, daycare, and dentist care.

Peter and Jackie discuss the budget, including the size of the deficit and the planned increase in capital gains taxes. They also cover energy-related updates from the budget, such as changes to investment tax credit programs (ITCs), adjustments to the green home subsidy, and the announcement of an Indigenous Loan Guarantee Program. They also mention that the Canada Growth Fund, which has pledged $7 billion to carbon markets, now aims to provide more off-the-shelf support for decarbonization projects while continuing to support bespoke opportunities. Environment and Climate Change Canada (ECCC) also plans to collaborate with provinces to improve carbon markets. The budget includes commitments to develop guidelines for investing in green and decarbonization projects (called a taxonomy); it also encourages Canadian pension funds to invest more in Canada, with a working group set up to explore this further. 

Content referenced in this episode: 

Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/     

  Check us out on social media:    

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April 22, 2024 Charts

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Broad equity indices dip amid market correction; WCS differential tightens ahead of TMX start-up; US LNG exports hit lowest level since early 2023

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April 15, 2024 Charts

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S&P/TSX E&P Index hits its highest since 2014; Natural gas futures remain in steep contango; US natural gas production down amid low prices

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Oil and More Turmoil: An Interview with Raoul LeBlanc, S&P Global Commodity Insights

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The threat of a wider Middle East war is increasing. Over the past weekend, Iran attacked Israel with missiles and drones in retaliation for Israel’s suspected strike on Iran’s embassy in Syria. This week, our guest, Raoul LeBlanc, Vice President, Energy, S&P Global Commodity Insights, explains why oil prices have increased over the past few months, including the impact of the growing conflict in the Middle East, OPEC+, and US shale oil growth. 

Jackie and Peter also asked Raoul about recent research by Prof. Robert Howarth from Cornell University. The paper, which has not yet been peer-reviewed, concludes that US LNG could be comparable to, or even worse than, coal from a GHG emissions perspective when methane leaking is considered. A BNN article reported that Howarth’s paper influenced President Biden’s pause on LNG approvals.  

Finally, Raoul explains the drivers for US oil and gas producers’ recent mergers and acquisitions (M&A) and if this trend could come to Canada. 

Content referenced in this podcast:  

Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/    

 

Check us out on social media:   

X (Twitter): @arcenergyinst
LinkedIn: @ARC Energy Research Institute   

Subscribe to ARC Energy Ideas Podcast
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Amazon Music
Spotify