Page 16 - December 7 2020
P. 16
THE WEEKLY ANCHOR
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THE WEEKLY ANCHOR
PAGE 16 MONDAY DECEMBER 7 , 2020 MONDAY JUNE 29, 2020 PAGE 15
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A Monthly update on the Oil & Gas and Energy Industry


ENERGY EDUCATION IN ACTION





Town Council presented with an update from CAPP





by Jordan Rae McTaggart first explained CAPP's COVID essential workers safe and making sure there
priorities, which began back in March of 2020. was no infection rate so that we could provide
Community Engagement Advisor Kelly Their actions included finding access to capital our product to hospitals and keep emergency
McTaggart presented an update from the for their producers to keep them active and services running was a very big part of our
Canadian Association of Petroleum Producers operating, and reducing red tape, which was priorities.” Those priorities have since shifted
(CAPP) to Town Council at their regular put forth to different levels of government to somewhat, and McTaggart says CAPP is now Event Reminder
meeting on November 17. ensure that the industry was moving forward “focused more on an economic recovery
CAPP is the largest industry association in and still seeing capital investment coming into stage.”
Canada, and they represent large and small the market. CAPP also focused on ensuring the McTaggart presented their 2019 stats stating May 9: For mental health week, join
producing companies from Newfoundland to protection of their essential workers. oil and gas is the single largest investor in the Town of Edson for Darkness to
BC. Their members produce about 80% of the McTaggart explained that masking was a Canada and they provide about 6.1 % to the Light – Mental Health Awareness. Join
natural gas and crude oil in the country. In priority for them earlyon. “COVID has been a GDP, which equated to about 8 billion dollars the community and place luminaries or
addition to that, they have a wide range of 'you don't know what you don't know' type of per year, on average, between 2016 and 2018. a simple candle outside your home to
services that support the upstream crude oil situation,” she said. “This is an unprecedented McTaggart explained, through their u n i t e f o r a l i g h t a t d a w n
and natural gas industry. time that we are in, and so keeping our calculations, that the total primary energy (approximately 5:10 am).
demand is set to drop by about 6 % in 2020.
CAPP has actually already seen that figure,
which is the largest relative decline in 70
years, and the biggest ever decline in absolute
terms. McTaggart stated it's all because we live
in a much more global environment. “We don't
feel the shockwave quite as much because our
supply chains are so secure, but it is extremely
significant of our economic outlook and
forecast,” she said.
The presentation included a global energy
demand forecasted recovery chart, which
showed a very deep decline in 2020. “In term
of figures, we were forecasted to have over 80
billion dollars worth of capital investment this

continued page 17














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