ARC ENERGY IDEAS

In this week's podcast, Peter and Jackie discuss global oil and diesel markets, the government’s role in major infrastructure projects, including the Pacific Link pipeline, and widening Canadian heavy oil discounts. 
Escalating conflict in the Middle East has raised oil prices and renewed concerns over supply. Wars in the Middle East and Russia have also constrained refining capacity, tightening diesel supplies. With affordability and the US midterm elections in focus, Peter and Jackie discuss President Trump’s efforts to lower diesel prices. For now, the prospect of a US diesel export ban has receded. On October 15, the IEA announced plans to release 20 million barrels of diesel, while Trump agreed to purchase a relatively small volume of diesel from Russia, raising concerns about broader sanctions relief without concessions on the war in Ukraine.  
Next, they discuss Peter’s article in The Hub, “Why Canada must put public dollars behind big infrastructure.” He argues that conventional financial analysis undervalues infrastructure’s generational benefits, including energy security, market access and economic sovereignty, which can extend over 50 to 100 years and may only be fully recognized by governments. 
Finally, they examine the roughly US$26/B spot discount for WCS relative to WTI, driven by Western Canadian pipelines nearing capacity, Venezuelan competition in the US Gulf Coast (USGC), and high tanker rates that make re-exports of Canadian oil from the USGC costly. These discounts underscore the value of additional West Coast oil pipeline capacity. 
Content referenced in this podcast: 
The IEA October 15 statement on releasing over 20 million barrels of diesel as soon as possible. 
Morningstar, “Surging Middle East Shipping Costs Widen Global Oil Price Gaps, Goldman Says” (Oct 13, 2026) 
The Hub, Peter Tertzakian, “Why Canada must put public dollars behind big infrastructure.” (October 9, 2026) 
Reuters, “Soaring freight rates threaten Asia's appetite for US Crude” (October 8, 2026) 
Studio.Energy, “Latest Developments in Canada’s Market Hostage Situation” (October 9, 2026) 
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The federal government introduced Bill C-39 (Building Canada Strong Act) on September 21, 2026. The bill aims to complete project reviews in one year, with a single window for proponents, rather than requiring them to deal with multiple federal and provincial agencies. Business stakeholders have responded positively to the draft legislation. 
This week on the podcast, our guest is Gitane De Silva, Founder & President of GDStrategic, Executive Director of the Peter Lougheed School of Politics and Democracy at the University of Alberta, and former CEO of the Canada Energy Regulator (CER). 
Gitane helps us understand the proposed regulatory process, how it compares with the fast-track process under Bill C-5 (which the new Pacific Link, formerly known as the West Coast Oil Pipeline, will follow), and the process established under Bill C-69, famously called the “No New Pipelines Bill.” She also explains the roles of the various agencies involved, depending on the type of project being reviewed. 
Content referenced in this podcast: 
The Alberta Government’s website on the Pacific Link oil pipeline (formerly known as West Coast Oil Pipeline) 
The Government of Canada's background document on Bill C-39 
The full text of Bill C-39 
The Hub.com article by Sean Speer “Carney’s moves on building and labour are an outright rejection of Trudeau economics” (Sept 26) 
CBC “Facing criticism, Carney says he has a 'very clear mandate' to push through major economic changes (Sept 22) 
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This week, we recorded the podcast at the Energy Disruptors: UNITE conference in Calgary. Our guest, Bob Galyen, is one of the top executives in the battery energy storage world and the former Chief Technology Officer of CATL. He now serves on boards in the emerging U.S. battery sector and owns Galyen Energy. 
Battery technology has advanced significantly over the past decade, enabling EV adoption and backing up wind and solar power generation. New battery chemistries promise even greater utility, including longer duration, faster charging, and lower costs. 
In their conversation with Bob, Peter and Jackie explore a wide range of topics, including new battery chemistries and Bob’s five golden rules of electrification: safety, performance, lifetime, cost, and environment. They also discuss the geopolitics of batteries and China’s dominance in the sector, including how the Chinese government supported the battery industry’s development. The conversation contrasts China’s approach with that of the United States, which is developing a domestic battery industry to reduce reliance on China for these critical materials and technologies.

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Data centres have faced growing public backlash in the United States. In Alberta, opposition has been less widespread, and the provincial government supports the industry, but communities are raising concerns. 
This week, our guests -Deirdre Sheehan, Partner and Co-Chair of the Regulatory, Indigenous and Environmental practice at Osler, and Marcus Rocque, Vice President of Research at the ARC Energy Research Institute, review the main concerns surrounding data centres, using the topics outlined in Premier Smith’s recent video as a guide:
What is a data centre, and why does Alberta want them?
Didn’t other places get burned by data centres?
How do Albertan’s actually benefit from these data centres?
Will my power bill go up?
What about water?
Who decides where these data centres get built?
Content referenced in this podcast:
Alberta Premier Smith video on six common questions on AI data centers
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This week on the podcast, our guest is Dulles Wang, Director of Americas Gas and LNG Research at Wood Mackenzie. Dulles co-authored the report Defying Gravity: Why U.S. Henry Hub Natural Gas Prices Are Set to Rise. He is also bullish on the longer-term outlook for Alberta natural gas prices (AECO). 
The report comes as natural gas prices in the United States and Canada are depressed by abundant supply, especially in Canada, combined with an outlook for very warm winter weather. 
Here are some of the questions Jackie and Peter asked Dulles: After years of low natural gas prices and abundant supply, why do you expect prices to rise? Is there a risk that supply could surprise again and continue growing fast enough to keep pace with demand growth, despite low prices? How do warmer winters affect the outlook, given that they appear to be becoming more common, including expectations for this upcoming winter? What is your outlook for Alberta natural gas prices and Canadian LNG exports? This has been a big year for M&A involving U.S. shale gas assets, with a new group of buyers that includes Abu Dhabi’s ADNOC, Saudi Aramco, and Japanese companies. What is driving this trend, and do you expect it to come to Canada? 
Content referenced in this podcast: 
Mark Carney Forward Guidance: A Stronger Canada video (September 8, 2026) 
Wood Mackenzie report, Defying gravity: Why US Henry Hub natural gas prices are set to rise (July 2026) 
FT article, Scramble for gas assets pushes dealmaking to a decade high (August 30, 2026) 
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