This week on the podcast, Jackie and Peter share their insights on Canada’s 2025 federal budget, released last week and expected to pass on November 17. They also briefly introduce the topic of COP30, which started the day they recorded, and Bill Gates’ recent memo on climate.

They discuss several aspects of the budget, including the size of the deficit and debt, government plans to reduce day-to-day operating expenses, and several tax measures—notably, new Productivity Super Deduction and the updated accelerated capital cost depreciation rules for LNG, which are supportive, but still less generous than the Productivity Super Reduction.

They also examine the introduction of new investment tax credits (ITCs) for clean energy. These incentives were largely anticipated, having been announced in the previous budget but never enacted.

A major focus is the proposed Canada Climate Competitiveness Strategy, which aims to strengthen industrial carbon pricing while preventing carbon leakage. Jackie and Peter explore related policy commitments, including maintaining methane-reduction regulations and the Clean Electricity Regulation, along with signals of possible flexibility around the removal of the oil and gas emissions cap. However, they note that such flexibility may depend on the deployment at scale of carbon capture and storage, which remains uncertain.

Content referenced in this podcast includes:

• Canada Budget 2025
• Bill Gates Memo “Three tough truths about climate” (October 2025)
• The Hub.ca article by Trevor Tombe “There’s a big gap between rhetoric and reality” (November 2025)

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This week on the podcast, our guest is Jason Chee-Aloy, Managing Director at Power Advisory LLC. The firm provides expert consulting services in the electricity sector across Canada and the United States.

A new report from CanREA and Dunsky forecasts a rapid build-out of new electricity generation across the country. With this growth forecast in mind, Jason shares his insights on several major new electricity generation projects shaping Canada’s power landscape — including the planned hydropower dam expansion along the Churchill River by Quebec and Newfoundland and Labrador.

Jason, Jackie, and Peter also discussed the proposed Wind West project in Nova Scotia, where the province estimates its offshore wind potential could exceed 60 GW of capacity, with up to 40 GW of dependable output.

In addition, Jason provides an update on Alberta’s ongoing electricity market redesign — the Alberta Restructured Energy Market (REM) — following the release of the Final Design document from the Alberta Electric System Operator (AESO) in August.

Content referenced in this podcast:

• Canada’s Renewable Energy Outlook 2025 by CanREA and Dunsky
• Wind West Plan by the Nova Scotia Government
• Alberta Electricity System Operator (AESO) Restructure Energy Market Final Design (August 2025)
• Alberta Electricity System Operator “MPA Independent Assessment of the REM Design” (August 2025)

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This week on the podcast, Jackie and Peter begin with a roundup of the latest developments in Canadian energy. They start by discussing Prime Minister Carney’s remarks at the ASEAN Summit in Malaysia, where he suggested that Canada could export up to 50 million tonnes of LNG per year (about 6.5 Bcf/d) by 2030, with the potential to double that by 2040.

They then turn to the upcoming federal budget, which is expected to include details about Canada’s Climate Competitiveness Plan. Another key topic is President Trump’s decision to suspend trade talks with Canada following controversy over Ontario’s free-trade advertisement.

Next, the hosts reflect on Peter’s recent commentary in The Hub, titled “Even if Alberta gets a new pipeline, what’s next for the oilsands?”

Finally, Jackie talks about her recent appearance on a CBC podcast that explored whether Canada can build pipelines while fighting climate change. She explains why she felt the show’s coverage was not balanced and shares her broader concerns about how climate and energy topics are often framed in mainstream Canadian media.

Content referenced in this podcast:

• The Globe and Mail, “Carney’s climate vision is to deprioritize emissions targets, focus on economic advantages” (October 14, 2025)
• The Hub “Peter Tertzakian: Even if Alberta gets a new pipeline, what’s next for the oilsands?” (October 4, 2025)
• CAPP Data Centre, “The Economic Impact of Canadian Oil and Gas,” see slide 23 titled “Canada’s Gross Domestic Product (GDP) by Industry | 2024”
• Government of Canada Publications, “Public Opinion Research on the National Adaptation Strategy,” (March 2025), see page 6: “A vast majority of people living in Canada (84%) consider climate change an important issue”
• Angus Reid Institute, “Pipeline Push: Majority of Canadians, including BC Residents support the idea of a pipeline to the north coast” (October 9, 2025)
• CBC Ideas Podcast “Can we have new pipelines and curb climate change too?” October 7, 2025

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

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

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