We’re closing out the year with our final podcast of 2025, looking back at the biggest stories and revisiting the predictions we made at the start of the year. How did we do?

2025 delivered volatility and plenty of surprises, along with a long list of developments with real consequences for energy, both clean energy and traditional oil and gas. We cover major policy shifts, including the election of the Mark Carney Liberals in Canada, the introduction of Bill C-5, the launch of the Major Projects Office, the Ottawa–Alberta Memorandum of Understanding (MOU), and growing political support for LNG.

We also review changes in the United States, including tariffs and the One Big Beautiful Bill (OBBB), which rolled back many of America’s generous clean energy subsidies.

Another recurring theme this year was the surge in expectations for AI data center electricity demand—including in Canada, where three proposed projects in Alberta are moving closer to a final investment decision.

It’s been a whirlwind year. Jackie and Peter wish everyone a wonderful holiday break, and we’ll return in 2026.

Content referenced in this podcast:

• The Hub.ca, Have we really hit peak oil? Please don’t count on it (December 2, 2025)
• National Security Strategy of the United States of America (November 2025)

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Canada’s first cargo of LNG set sail from Kitimat, British Columbia, on June 30, 2025. This week on the podcast, Chris Cooper, President and CEO of LNG Canada, joins us to reflect on that milestone, walk through the project’s progress, and share his view of Canada’s long-term LNG opportunity.

Jackie and Peter asked Chris a wide-ranging set of questions, including: What was going through your mind as the first carrier departed? What does the workforce on-site look like today, and are workers living locally or in camps? What are the practical logistics of bringing LNG tankers in and out of the facility and navigating the Douglas Channel? Is the plant operating at full capacity yet? How would you characterize the current level of support from the B.C. provincial government? How significant was Prime Minister Mark Carney’s trip to Asia to sell Canada’s potential for LNG growth, and what did it mean to see LNG Canada Phase 2 included among the projects that were referred to the Major Projects Office? Finally, how does Canadian LNG stack up against other global supply sources, and what do you see as the outlook for worldwide LNG demand?

Content referenced in this podcast:

• Steven Guilbeault Speaks to CTV’s Power Play with Vassy Kapelos (December 4, 2025)
• Clean Prosperity study that the Federal-Alberta MOU can unlock $90 billion in low-carbon investment if governments follow through (December 4, 2025)
• Photos of the LNG Canada work camp at Cedar Valley Lodge
• Shell LNG Outlook 2025

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A memorandum of understanding (MOU) between Alberta and the Canadian federal government was signed on November 27, 2025. It declared a shared goal of making Canada a global energy superpower by building one or more privately financed oil pipelines, co-owned with Indigenous Peoples, to ship at least 1 million barrels per day of low-emission Alberta bitumen, prioritizing routes to Asian markets, and submitting an application to the Major Projects Office by July 1.

Building the pipeline requires building the large-scale oil sands Pathways carbon capture and storage (CCS) project. Alberta and the federal government will also engage with the Government of British Columbia on the pipeline initiative.

Among other commitments, the MOU pledges to suspend the Canadian Electricity Regulations (CER) as they apply to Alberta and to scrap the proposed nationwide oil and gas emissions cap for producers. Further details are expected to be finalized by April 1.

To unpack this tectonic shift in Alberta–Ottawa relations—along with the first wave of media coverage and the deal’s potential benefits for Canada —Peter and Jackie are joined by guest Deborah Yedlin, President and CEO of the Calgary Chamber of Commerce.

Content referenced in this podcast:

• Canada-Alberta Memorandum of Understanding (November 27, 2025)
• Angus Reid Institute Polling on Support and Opposition for Alberta-BC Pipeline (November 27, 2025)
• CBC At Issues Panel on Carney’s Alberta Pipeline Partnership (November 28, 2025)

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

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X (Twitter): @arcenergyinst
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