happy Australia Day

[Anonymous]

I hope all Australians and Dinky in particular enjoy their holiday.

 ac_smile

[Anonymous]

Happy January 26. I had some great times when I lived in Queensland.

[Anonymous]

Enjoy your national holiday. Hopefully you took the holiday on a Monday.

[Anonymous]

Happy Aussie Day. Australia is a much better country than Canada. They still believe in letting everyone have a "fair go." The opportunities that Canada offered in the 1990's are no longer here, and by government decree they won't be coming back. Australia is one of the places we're thinking of going to on expat packages. Hopefully we emigrate in 2022 when this coronavirus madness is behind us.



Here's one of the reasons why Australia is a better place for immigrants native born citizens alike.

A tale of two countries: Oil and gas in Australia and Canada over the past decade



Canadian projects hampered by regulatory uncertainty, lack of market access and environmental pressures as Australia embraces growth



• Unlike Australia, medium- to long-term prospects for investment in the Canadian oil and gas extraction sector are tempered not only by low energy prices and COVID-19, but also by concerns around lack of market access and a less than favourable regulatory regime.



• The two countries diverge dramatically on GDP for oil and gas extraction. When the 2007 to 2016 period is examined (the decade for which the latest data is available) Australia's oil and gas extraction sector GDP rose by 51.7 per cent while Canada's oil and gas extraction sector GDP fell by 65.0 per cent.



• Employment in the oil and gas extraction sector also diverged. Australia's oil and gas sector extraction employment was 12,919 in 2010 and 38,116 in 2019, a 195 per cent increase; Canada's oil and gas sector extraction employment was 51,686 in 2010 and 55,853 in 2019, an increase of just 8 per cent.



Unlike Australia, medium- to long-term prospects for investment in the Canadian oil and gas extraction sector are tempered not only by low energy prices and COVID-19, but by concerns around lack of market access and a less than favourable regulatory regime. According to the Canadian  Energy Research Institute (CERI):



the legislation that reformed the Canadian Energy Regulator (CER) (formerly known as the National Energy Board), combined with the legislation banning tankers shipping in the northern parts of British Columbia, increased the regulatory risk perceived by the sector.



Although there has been a drop in employment in 2020, the prospects for increased employment in Australia's oil and gas extraction sector are promising over the medium-term as energy prices gradually recover and new LNG projects move forward.



In contrast to Australia, direct employment in Canada's oil and gas extraction sector has been stagnant over the past decade, and medium term prospects appear to be tempered because of the lack of market access and regulatory concerns.



Even through Canada's oil and gas extraction sector remains an important part of the Canadian economy, in contrast to Australia, GDP has declined over the past decade. There are also concerns that Canadian oil and gas extraction GDP growth may be hampered moving forward by regulatory uncertainty.



Investment analysts and portfolio managers have recently warned that investment in the oil and gas sector is moving increasingly to the U.S. and away from Canada, and that they are reluctant to invest their clients' savings in Canadian oil and gas companies. An unfavourable business environment for oil and gas exploration and production in Canada is cited as the reason.



The oil and gas extraction sector has contributed significant revenues to federal and provincial government coffers over the past decade, even with the drop in crude oil prices over the period. However, unlike Australia, the prospects for return to the level of government revenues experienced in the early 2010s are tempered because of concerns by investors about regulatory uncertainty and a lack of market access, which has hampered the development of a number of pipeline and LNG projects.



Australia-Canada differences: Delays, access issues, and export market diversification failure in Canada

There are a number of reasons why Australia has moved ahead in the past decade on measures of employment and GDP while Canada's growth on both metrics stalled. In broad terms, they involve regulatory uncertainty, anti-oil and gas activism and court actions, and the resulting delays for export market diversification.



The Canadian Energy Research Institute (CERI) found that "Canada has a competitive disadvantage of oil and gas investments compared to the U.S. when it comes to LNG projects and interprovincial oil and natural gas pipelines." CERI cited multiple issues including:



• an increased approvals period that adds an extra 13 to 19 months to projects;



• increased uncertainty of the decision-making process;



• resulting extra costs;



• resulting extra risk;



• LNG projects that take approximately 19 additional months for approval in Canada than the US, providing a competitive advantage to US investments; and



• delays to pipeline projects that are legally challenged and can take considerably more time in Canada, which can add as much as 15 per cent to the overall capital cost in the first year.



In contrast, the Australian oil and gas extraction sector, particularly with the advent of LNG, has been far more resilient in terms of GDP and employment.



This has occurred despite the depressed energy price environment due to favourable market fundamentals including access to emerging demand centers in the Asia-Pacific region and a regulatory regime that appears more responsive to resource development.



According to the Canadian Global Affairs Institute (CGAI):



The establishment of the Standing Council on Energy which became the Council of Australian Governments (COAG) Energy Council in 2014, combining federal, state, territorial and municipal policymakers was a step in the right direction. [This led to] regulatory and governance reform to streamline processes and decision-making and deliver outcomes more efficiently and consistently. Any effort to harmonize energy policy, legislation and market rules and regulatory streamlining should be beneficial.



This is certainly something Canada should explore. Siloed regions and pressure from communities, environmentalists and overarching federal policies are turning the Canadian courts into the regulator. Perhaps a national body such as Australia's COAG Energy Council could help solve some of Canada's infrastructure and resource development gridlock.



Another factor in Canada's mixed performance over the past decade is excessive reliance on one major market (i.e., the United States) while that customer's own production of oil and natural gas soared.



According to the Canadian Centre for Living Standards (CCLS):



The Australia oil and gas sector has greatly benefited from impressive export growth to the huge and fastgrowing Chinese market, especially through LNG exports. Canada's main market, on the other hand, is the slowgrowing United States. Given the importance of demand growth for both output and productivity advance, Canada should focus greater attention on emerging markets where there is significant potential for growth in exports.



According to the Oxford Institute for Energy Studies:



Canada is losing out on the order of trillions of dollars in overall macroeconomic impact over the next 40 years, not to mention the opportunity to make a significant reduction in global emissions by displacing the coal burned for electric power in Asia. The forgone macroeconomic benefit is simply redirected to more predictable supply jurisdictions, primarily the U.S. Gulf Coast, Russia, Qatar, and East Africa.



Takeaway

The tale of the Canadian and Australian oil and gas extraction sectors over the past decade is one of diverging paths when examining trends for such key metrics as employment and GDP, with the potential for a quicker recovery in government revenues in Australia.



While the oil and gas extraction sector in Canada continues to contribute to GDP, create high-paying jobs and generate billions of dollars annually for provincial and federal governments, regulatory uncertainty, a lack of market access and environmental pressures have contributed to slowed investment.

https://www.canadianenergycentre.ca/a-tale-of-two-countries-oil-and-gas-in-australia-and-canada-over-the-past-decade/?fbclid=IwAR0Giv6JscqbV2L9JEa11g2sfbBq5RVHqnS7ziaa3YYh7_CWaVJSU-zVPw0">https://www.canadianenergycentre.ca/a-t ... VJSU-zVPw0">https://www.canadianenergycentre.ca/a-tale-of-two-countries-oil-and-gas-in-australia-and-canada-over-the-past-decade/?fbclid=IwAR0Giv6JscqbV2L9JEa11g2sfbBq5RVHqnS7ziaa3YYh7_CWaVJSU-zVPw0

[Frood]

Thanks all... we're probably going to roast hotdogs.



Shen: Australia isn't that crash hot these days. Aim for somewhere else less leftist.

[Anonymous]

Thanks all... we're probably going to roast hotdogs.



Shen: Australia isn't that crash hot these days. Aim for somewhere else less leftist.

They were about even when I was in Queensland. Canada has been bought by prog money lock stock and barrel since then.

[Anonymous]

Thanks all... we're probably going to roast hotdogs.



Shen: Australia isn't that crash hot these days. Aim for somewhere else less leftist.

I expect libtardation. Australia was built and is governed by whites.



However, the circus that is the foreign interference in our resource sector is turning Canada into an Argentina. They bought our politicians and they put us on a trajectory towards poverty. I want my two little boys to have the same opps that we did when we came to Canada in the 90's. I can live with goofy white libtards as long as they aren't allowed to block people from pursuing upward mobility.



It may not be Aussie though. I have an auntie who's a Singapore citizen. We might go there, or Norway.

[Gaon]

Happy Australian National Day.

[Anonymous]

Enjoy your day off to our friends in the Southern hemisphere.

[Anonymous]

Happy Aussie Day. Australia is a much better country than Canada. They still believe in letting everyone have a "fair go." The opportunities that Canada offered in the 1990's are no longer here, and by government decree they won't be coming back. Australia is one of the places we're thinking of going to on expat packages. Hopefully we emigrate in 2022 when this coronavirus madness is behind us.



Here's one of the reasons why Australia is a better place for immigrants native born citizens alike.

A tale of two countries: Oil and gas in Australia and Canada over the past decade



Canadian projects hampered by regulatory uncertainty, lack of market access and environmental pressures as Australia embraces growth



• Unlike Australia, medium- to long-term prospects for investment in the Canadian oil and gas extraction sector are tempered not only by low energy prices and COVID-19, but also by concerns around lack of market access and a less than favourable regulatory regime.



• The two countries diverge dramatically on GDP for oil and gas extraction. When the 2007 to 2016 period is examined (the decade for which the latest data is available) Australia's oil and gas extraction sector GDP rose by 51.7 per cent while Canada's oil and gas extraction sector GDP fell by 65.0 per cent.



• Employment in the oil and gas extraction sector also diverged. Australia's oil and gas sector extraction employment was 12,919 in 2010 and 38,116 in 2019, a 195 per cent increase; Canada's oil and gas sector extraction employment was 51,686 in 2010 and 55,853 in 2019, an increase of just 8 per cent.



Unlike Australia, medium- to long-term prospects for investment in the Canadian oil and gas extraction sector are tempered not only by low energy prices and COVID-19, but by concerns around lack of market access and a less than favourable regulatory regime. According to the Canadian  Energy Research Institute (CERI):



the legislation that reformed the Canadian Energy Regulator (CER) (formerly known as the National Energy Board), combined with the legislation banning tankers shipping in the northern parts of British Columbia, increased the regulatory risk perceived by the sector.



Although there has been a drop in employment in 2020, the prospects for increased employment in Australia's oil and gas extraction sector are promising over the medium-term as energy prices gradually recover and new LNG projects move forward.



In contrast to Australia, direct employment in Canada's oil and gas extraction sector has been stagnant over the past decade, and medium term prospects appear to be tempered because of the lack of market access and regulatory concerns.



Even through Canada's oil and gas extraction sector remains an important part of the Canadian economy, in contrast to Australia, GDP has declined over the past decade. There are also concerns that Canadian oil and gas extraction GDP growth may be hampered moving forward by regulatory uncertainty.



Investment analysts and portfolio managers have recently warned that investment in the oil and gas sector is moving increasingly to the U.S. and away from Canada, and that they are reluctant to invest their clients' savings in Canadian oil and gas companies. An unfavourable business environment for oil and gas exploration and production in Canada is cited as the reason.



The oil and gas extraction sector has contributed significant revenues to federal and provincial government coffers over the past decade, even with the drop in crude oil prices over the period. However, unlike Australia, the prospects for return to the level of government revenues experienced in the early 2010s are tempered because of concerns by investors about regulatory uncertainty and a lack of market access, which has hampered the development of a number of pipeline and LNG projects.



Australia-Canada differences: Delays, access issues, and export market diversification failure in Canada

There are a number of reasons why Australia has moved ahead in the past decade on measures of employment and GDP while Canada's growth on both metrics stalled. In broad terms, they involve regulatory uncertainty, anti-oil and gas activism and court actions, and the resulting delays for export market diversification.



The Canadian Energy Research Institute (CERI) found that "Canada has a competitive disadvantage of oil and gas investments compared to the U.S. when it comes to LNG projects and interprovincial oil and natural gas pipelines." CERI cited multiple issues including:



• an increased approvals period that adds an extra 13 to 19 months to projects;



• increased uncertainty of the decision-making process;



• resulting extra costs;



• resulting extra risk;



• LNG projects that take approximately 19 additional months for approval in Canada than the US, providing a competitive advantage to US investments; and



• delays to pipeline projects that are legally challenged and can take considerably more time in Canada, which can add as much as 15 per cent to the overall capital cost in the first year.



In contrast, the Australian oil and gas extraction sector, particularly with the advent of LNG, has been far more resilient in terms of GDP and employment.



This has occurred despite the depressed energy price environment due to favourable market fundamentals including access to emerging demand centers in the Asia-Pacific region and a regulatory regime that appears more responsive to resource development.



According to the Canadian Global Affairs Institute (CGAI):



The establishment of the Standing Council on Energy which became the Council of Australian Governments (COAG) Energy Council in 2014, combining federal, state, territorial and municipal policymakers was a step in the right direction. [This led to] regulatory and governance reform to streamline processes and decision-making and deliver outcomes more efficiently and consistently. Any effort to harmonize energy policy, legislation and market rules and regulatory streamlining should be beneficial.



This is certainly something Canada should explore. Siloed regions and pressure from communities, environmentalists and overarching federal policies are turning the Canadian courts into the regulator. Perhaps a national body such as Australia's COAG Energy Council could help solve some of Canada's infrastructure and resource development gridlock.



Another factor in Canada's mixed performance over the past decade is excessive reliance on one major market (i.e., the United States) while that customer's own production of oil and natural gas soared.



According to the Canadian Centre for Living Standards (CCLS):



The Australia oil and gas sector has greatly benefited from impressive export growth to the huge and fastgrowing Chinese market, especially through LNG exports. Canada's main market, on the other hand, is the slowgrowing United States. Given the importance of demand growth for both output and productivity advance, Canada should focus greater attention on emerging markets where there is significant potential for growth in exports.



According to the Oxford Institute for Energy Studies:



Canada is losing out on the order of trillions of dollars in overall macroeconomic impact over the next 40 years, not to mention the opportunity to make a significant reduction in global emissions by displacing the coal burned for electric power in Asia. The forgone macroeconomic benefit is simply redirected to more predictable supply jurisdictions, primarily the U.S. Gulf Coast, Russia, Qatar, and East Africa.



Takeaway

The tale of the Canadian and Australian oil and gas extraction sectors over the past decade is one of diverging paths when examining trends for such key metrics as employment and GDP, with the potential for a quicker recovery in government revenues in Australia.



While the oil and gas extraction sector in Canada continues to contribute to GDP, create high-paying jobs and generate billions of dollars annually for provincial and federal governments, regulatory uncertainty, a lack of market access and environmental pressures have contributed to slowed investment.

https://www.canadianenergycentre.ca/a-tale-of-two-countries-oil-and-gas-in-australia-and-canada-over-the-past-decade/?fbclid=IwAR0Giv6JscqbV2L9JEa11g2sfbBq5RVHqnS7ziaa3YYh7_CWaVJSU-zVPw0">https://www.canadianenergycentre.ca/a-t ... VJSU-zVPw0">https://www.canadianenergycentre.ca/a-tale-of-two-countries-oil-and-gas-in-australia-and-canada-over-the-past-decade/?fbclid=IwAR0Giv6JscqbV2L9JEa11g2sfbBq5RVHqnS7ziaa3YYh7_CWaVJSU-zVPw0

It's good to see madness has not blocked industrial development and prosperity in Australia.

[Frood]

We didn't do anything special except make a fire in a rocket stove so the little one had something to roast hot dogs over. Which was a pain in the arse because somebody chucked out some twigs I had been saving for it and we had to use wet twigs from out on the lawn while it was raining.



Smokey mess with two combustion speeds.... slow smokey and dry now/whoosh!

[Anonymous]

We didn't do anything special except make a fire in a rocket stove so the little one had something to roast hot dogs over. Which was a pain in the arse because somebody chucked out some twigs I had been saving for it and we had to use wet twigs from out on the lawn while it was raining.



Smokey mess with two combustion speeds.... slow smokey and dry now/whoosh!

That's still more than I do for Canada Day.

[Frood]

We didn't do anything special except make a fire in a rocket stove so the little one had something to roast hot dogs over. Which was a pain in the arse because somebody chucked out some twigs I had been saving for it and we had to use wet twigs from out on the lawn while it was raining.



Smokey mess with two combustion speeds.... slow smokey and dry now/whoosh!

That's still more than I do for Canada Day.

Aren't you guys meant to fashion pirate hats from pieces of bacon, drink Canadian Club, and lather up in maple syrup then slip and slide on tarps in your yards?

[Anonymous]

We didn't do anything special except make a fire in a rocket stove so the little one had something to roast hot dogs over. Which was a pain in the arse because somebody chucked out some twigs I had been saving for it and we had to use wet twigs from out on the lawn while it was raining.



Smokey mess with two combustion speeds.... slow smokey and dry now/whoosh!

That's still more than I do for Canada Day.

Aren't you guys meant to fashion pirate hats from pieces of bacon, drink Canadian Club, and lather up in maple syrup then slip and slide on tarps in your yards?

Canada Day is in the summer..



Most towns and cities have fireworks displays, and many people have a barbeque.

[@realAzhyaAryola]

Happy Australia Day. I have family in Melbourne and Toowoomba.