ARC ENERGY IDEAS

This week’s podcast is the final episode before Peter and Jackie take a summer break. The show will return to its weekly schedule in September. 
The episode begins with oil market news, as conflict with Iran flares up again and the Strait of Hormuz re-emerges as a critical chokepoint. Peter and Jackie discuss higher-than-expected global oil inventories at this point in the conflict, recent demand trends, and changes in China’s oil imports. While longer-term shifts, including substitution and the rerouting of oil around the Strait, are easier to anticipate, the short-term outlook remains highly uncertain. 
Next, they recap the Calgary Stampede pipeline announcements, including the proposed West Coast oil pipeline and the earlier-stage Alberta-to-Ontario project. They also revisit frequently asked questions raised in conversations with the media and industry over the past week. 
Finally, they review the news of Meta’s proposed $13 billion Alberta data centre project, along with the Greenlight Limited Partnership power project announced on July 2. They close by considering growing opposition to data centres, a topic Peter discussed at the Upper Bound conference in Edmonton this past May,  where he participated on a panel exploring what the AI industry can learn from the energy sector. 
Content referenced in this podcast:
Alberta’s West Coast Oil Pipeline Submission to the Major Projects Office (July 2, 2026) 
Jackie Forrest’s Globe and Mail op-ed “The Iran war, the Saudis’ bold bet and why Canada needs a new pipeline” (May 6, 2026) 
Jackie Forrest’s Globe and Mail op-ed “Finally, Canada steps up as the energy superpower the world needs it to be” (July 1, 2026) 
Chris Varcoe in the Calgary Herald “Meta unveils massive $13B, gigawatt-scale development in Alberta, Canada's largest data centre” (July 8, 2026) 
Meta’s Sturgeon Data Centre information  
Upper Bound conference in Edmonton, recording of the conference panel on What AI can learn from the energy sector’s scars that Peter Tertzakian participated in (held May 2026) 
A report by Data Center Watch on opposition (Q1 2026 update)
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This week, the podcast starts with news on the West Coast oil pipeline. On July 2, Prime Minister Mark Carney and Alberta Premier Danielle Smith announced that a pipeline project exceeding 1 MMB/d was ready to be submitted to the Major Projects Office. Earlier that same day, PM Carney and B.C. Premier David Eby announced a Canada–B.C. Cooperative Prosperity Agreement, and, as part of the broader economic agreement, B.C. would not oppose a southern marine terminal for the oil pipeline. 
On July 6, there was more pipeline news, with Ontario Premier Doug Ford and Premier Smith announcing an early-stage feasibility study for a pipeline connecting Alberta to Ontario’s refining region in Sarnia.  
Peter and Jackie then welcomed Michele Harradence, Enbridge’s Executive Vice President and President, Gas Distribution and Storage, and the new Chair of the Board of the Canadian Gas Association (CGA), to the podcast. 
Peter and Jackie asked Michele about municipal bans on natural gas, the role of natural gas in cold-climate reliability, and natural gas’s GHG emissions. They also discussed the outlook for North American natural gas demand growth, including demand from AI data centres, and whether supply can keep pace. Finally, they compared the regulatory process for major projects in Canada with that in the United States. 
Content referenced in this podcast: 
Canada and British Columbia's new cooperative prosperity partnership (July 2, 2026) 
Canada and Alberta advance west coast pipeline project proposal and Pathways Project Carbon Capture Initiative (July 2, 2026) 
Prime Minister Mark Carney forward guidance video on Canada’s energy future (June 30, 2026) 
ARC Energy Ideas heat pump podcast “Decarbonizing heat: Are air-source heat pumps the solution for Canada? (June 11, 2024) 
Ontario unveils proposed route for Northern Shield Energy Corridor (July 6, 2026) 
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This week, our guest is Mike Law, former president and CEO of the Alberta Electric System Operator (AESO). Mike now leads MGL Advisory Services Ltd. and advises several companies, including Energy Alberta, where he is head of power system integration. Energy Alberta is proposing a nuclear generating station in northern Alberta's Peace River region. 
The podcast touches on a long list of Canadian electricity policy initiatives, including the federal government’s Nuclear Energy Strategy (June 22) and the Electricity Strategy (May 14). Other policies that are impacting investment and growth forecasts include the Alberta-Canada MOU, the Clean Electricity Regulations (CER), and – specific to Alberta – the new Data Centre Regulation and the Restructured Energy Market (REM). 
Topics covered include Canada’s need for new electricity generation to meet growing demand, including from AI data centres; how the CER is creating uncertainty for investment in new natural gas generation; and how Alberta’s REM adds another layer of uncertainty. The discussion also covers Canada’s new nuclear strategy and the plan to build 10 new reactors, including how it compares with the U.S. push toward a similar target. Finally, Mike outlines Energy Alberta’s large-scale Peace River nuclear project, including timelines, regulatory requirements, costs, and stakeholder engagement. 
Content referenced in this podcast:  
Nuclear Energy Strategy for Canada (June 29, 2026) 
Powering Canada Strong: A National Strategy for an Electrified Canadian Economy (May 14, 2026) 
Energy Futures: BC Hydro Turns Back to Natural Gas to Help Fill Electricity Gap (June 1, 2026) 
Alberta Data Centre Regulation (June 9, 2026) 
CBC: Power plant proposed for area northeast of Edmonton inches closer to becoming reality (June 24, 2026) 
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This week on the podcast, our guest is Angela Stent, a globally recognized authority on U.S.-Russia relations. Angela has held senior roles at Georgetown University, the American Enterprise Institute (AEI), the Brookings Institution, the U.S. State Department, the National Intelligence Council, and the Council on Foreign Relations, among others. She is also an award-winning author; some of her books include The Limits of Partnership: U.S.-Russian Relations in the Twenty-First Century (2014) and Putin's World: Russia Against the West and with the Rest (2019). 
Russia's war with Ukraine is increasingly becoming an energy war. As Ukraine's long-range strike capabilities improve, it has begun hitting Russian energy infrastructure with growing success, meaningfully reducing Russia's ability to produce refined products and crude oil. Jackie and Peter explore the complex geopolitics of the conflict with Angela, including Russia's relationships with Europe, the United States, and China. They also discuss the implications for Canada, including the growing attractiveness of energy from a stable supplier, a point recognized at the recent G7 meeting in France, where Canada was identified as a welcome source of energy to diversify away from supply routed through the Strait of Hormuz. 
Jackie and Peter ask Angela: Ukraine has delivered military strikes deep inside Russia this year — does that kind of pressure move Putin toward ending the war? How does Putin view the recent U.S.-Iran conflict, and what are the implications for the Russia-Ukraine war? Beyond Ukraine, is Russia a threat to other European countries? What is a realistic path to ending the war, and what would the best-case scenario look like? 
Content referenced on this podcast: 
G7 leaders' statement on geopolitical issues (June 17, 2026), welcoming the potential of Canada to deliver significant additional capacity to global markets in the coming years  
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This week on the podcast, Peter and Jackie begin with the big news of June 14th: the United States and Iran have reached a preliminary agreement to end the war, which takes the form of a memorandum of understanding (MOU). While the agreement leaves numerous details to be settled, both sides expect that shipping will resume through the Strait of Hormuz as a result. 
They then recap last week's episode with the Honourable Brian Jean, Alberta's Minister of Energy and Minerals, and his optimism about changes in the province that are expected to shorten regulatory timelines and advance a West Coast oil pipeline application toward submission in July. Peter and Jackie also discuss Alberta's referendum question this fall on separation, and how foreign investors may view it. 
On June 9, 2026, Peter Tertzakian toured Trans Mountain’s Westridge Marine Terminal in Burnaby, British Columbia, which exports Western Canadian crude oil to tidewater. Peter shares some of what he learned, including comments from people working at the terminal on safety, tanker filling times, and the project to deepen the channel, which would increase the amount of crude oil that can be loaded onto each ship. 
Content referenced in this podcast: 
Photos from Peter’s tour  
Trans Mountain website 
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