ARC ENERGY IDEAS

• Inside the Coming Power Surge: Beacon AI Centers’ Bet on Alberta

  North American electricity demand is growing fast, driven by the increasing presence of data centers, as well as other load growth. In Alberta alone, the AESO has reported about 12 GW of requests for load grid connections from data centers. This week, our guest is Josh Schertzer, Chief Executive Officer at Beacon AI Centers, which recently announced plans to develop up to 4.5 GW of AI data centers in Alberta, representing an investment of up to C$10 billion. Here are some of the questions that Jackie and Peter asked Josh: Should Albertans be concerned about this substantial load growth and the potential for associated higher electricity prices, given that 4.5 GW would account for nearly a 50% increase in current average provincial demand? Can data centers introduce flexibility by curtailing demand during periods of power shortages? Will Beacon AI Centers rely on grid electricity, or will they build their own generation sources? Do the clients of data centers, such as major IT companies, view natural gas as an acceptable energy source, considering its greenhouse gas emissions? How much cooling water is required, and could freshwater availability become a growth constraint? Lastly, what is the employment impact of the projects, including construction, operations, and spin-off jobs associated with establishing a data center hub? Content referenced in this podcast:Globe and Mail, “Carney to brief premiers on plan to fast-track major nation building projects” (May 29, 2025)  The Logic, “Calgary firm eyes $10B AI data centre building blitz” (May 15, 2025) Duke Nicholas Institute for Energy, Environment & Sustainability, “Rethinking Load Growth: Assessing the potential for integration of large flexible loads in US power systems” (February 2025)Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ Check us out on social media: X (Twitter): @arcenergyinstLinkedIn: @ARC Energy Research Institute Subscribe to ARC Energy Ideas PodcastApple PodcastsAmazon MusicSpotify 

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• Can Ottawa Match Vision With Action? A Conversation With The Honourable Gordon Campbell

  The past week saw a surge in energy-related political developments in Canada. Prime Minister Carney issued a unified Mandate Letter to his cabinet on May 21, 2025, emphasizing that Canada “must build an enormous amount of new infrastructure at speeds not seen in generations. This includes the infrastructure to diversify our trading relationships; to become an energy superpower in both clean and conventional energies.” The newly appointed Minister of Energy and Natural Resources, Tim Hodgson, delivered a constructive message during his visit to Calgary, highlighting the importance of building energy infrastructure, including oil and gas. Meanwhile, the Premiers from Western Canada convened a meeting in Yellowknife. They released a joint statement agreeing to plan and develop an economic corridor for “transporting oil and gas, liquefied natural gas, uranium, electricity, and hydroelectricity to Canadian and world markets.” To discuss these developments, we are joined by our guest, The Honourable Gordon Campbell, President of Hawksmuir International Partners Limited. He is the former Premier of British Columbia (2001–2011), Canadian High Commissioner to the UK and Northern Ireland (2011–2016), and Mayor of Vancouver (1986–1993). Here are some of the questions Jackie and Peter posed to The Honourable Gordon Campbell: Based on the Carney government’s constructive comments on energy infrastructure and attracting private investment, including the Energy and Natural Resources Minister’s trip to Calgary last week, would you anticipate a new approach from the Liberals compared to the previous decade? The Western Premiers issued a joint statement to develop economic corridors, including those for transporting electricity, natural gas, and oil. What types of projects do you expect David Eby’s NDP government to support in British Columbia?  Would you expect the Federal government to revise or repeal energy policies, particularly those that might deter capital investment, such as the industrial carbon pricing policy set to increase to $170 per tonne by 2030 or the oil and gas emissions cap? Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ Check us out on social media: X (Twitter): @arcenergyinstLinkedIn: @ARC Energy Research Institute Subscribe to ARC Energy Ideas PodcastApple PodcastsAmazon MusicSpotify 

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• Ports, Pipelines, and Policy: Insights from Heather Exner-Pirot

  This week, our guest is Dr. Heather Exner-Pirot, a Senior Fellow and Director of Energy, Natural Resources and Environment at the Macdonald-Laurier Institute in Ottawa, a Special Advisor to the Business Council of Canada, and a Research Advisor to the Indigenous Resource Network. Heather has twenty years of experience in Indigenous, Arctic and resource development and governance. She has published on Indigenous economic and resource development, energy security, and politics. Here are some of the questions that Peter and Jackie asked Heather: Does Canada have defense and security issues in the north? Politicians, including our Prime Minister, support Arctic export ports—do you expect to see new export corridors to the north? The Russians ship LNG from the Arctic, so why not Canada? What are your concerns about Prime Minister Mark Carney’s climate policy, as outlined in his Liberal leadership and election platforms? What are the issues with Canada’s greenwashing rules that were made law about one year ago? How would you recommend Canada move forward with speeding up the development of large projects—should the Impact Assessment Act (Bill C-69) be scrapped or just modified? What are the prospects for deploying small or micro nuclear reactors (SMRs) in the north? What does the future hold for Indigenous equity participation in major projects? Content referenced in this podcast:Northern Corridors: Hype or Hope? Macdonald-Laurier Institute, April 2025 Heather Exner-Pirot: Mark Carney’s climate plan is already outdated, The Hub, February 2025 Canada’s Greenwashing Amendment: A failure of process and policy, Macdonald-Laurier Institute, February 2025 From emergency to miracle – Germany’s LNG Acceleration Law shows that Western states can still build when they need to, Macdonald-Laurier Institute, January 2024 Learn more about Ontario Power Generation’s SMR project, including a video of the site preparation progress, Spring 2025Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ Check us out on social media: X (Twitter): @arcenergyinstLinkedIn: @ARC Energy Research Institute Subscribe to ARC Energy Ideas PodcastApple PodcastsAmazon MusicSpotify 

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• Oil Price Volatility: Recession Fears and OPEC+ Surprise

  After averaging around $US 75/B over the past few years, the WTI oil price fell below $US 60/B in early May. The weakness is driven by growing concerns about a potential recession resulting from US tariffs and announcements from the OPEC+ group that they will accelerate adding supply to the market, just as demand may be softening. To help us understand the recent volatility in oil prices, our guest this week is Jeremy Irwin, Global Crude Lead at Energy Aspects. Here are some of the questions Peter and Jackie asked Jeremy: Is this a repeat of 2015, when OPEC decided to flood the market to weaken US shale oil producers? Is President Trump influencing the OPEC+ strategy, as he may want lower oil prices to help offset the inflationary effects of US tariffs? At current price levels, how will US oil production respond? If profit is tight at lower prices, will US oil producers prioritize paying shareholders or capital spending? How might changes to US sanctions on Venezuela, Russia, and Iran impact the oil market? When do you expect global (and China’s) oil demand to peak? In the short term, how serious is the threat of recession to oil demand? Do you expect Canadian oil export infrastructure to expand? Content referenced in this podcast:See the Energy Aspects website to learn more about their research data, tools, and consulting servicesPlease review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ Check us out on social media: X (Twitter): @arcenergyinstLinkedIn: @ARC Energy Research Institute Subscribe to ARC Energy Ideas PodcastApple PodcastsAmazon MusicSpotify 

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• It’s Time to Build Canada Into an Energy Superpower

  Canadians voted for Mark Carney and the Liberal government on April 28th, 2025. In his victory speech, Prime Minister Carney asserted, "It's time to build Canada into an energy superpower in both clean and conventional energy." This week's podcast delves into the election results and its potential impact on Canadian energy with guest Greg Lyle, the founder and President of Innovative Research Group, a full-service market research firm with offices in Vancouver and Toronto. Peter and Jackie discussed several topics with Greg, including surprises in the election results, how the Liberal minority government could collaborate with other parties to pass legislation, and the potential future direction of energy policy based on the Liberal platform and Prime Minister Carney's post-election statements. They also explored possible support for LNG export facilities, clean energy initiatives, and carbon capture and storage (CCS) projects like the Oil Sands Pathways Alliance project. Additionally, they considered proposals from the Liberals and industry to amend the Impact Assessment Act (Bill C-69), aiming to expedite decision timelines for project approvals. Content referenced in this podcast:Letter from Canadian energy CEO’s to Mark Carney (April 30, 2025) “Build Canada Now: Energy CEOS to the Prime Minster of Canada: An Urgent Action Plan to Strengthen Economic Sovereignty”Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ Check us out on social media: X (Twitter): @arcenergyinstLinkedIn: @ARC Energy Research Institute Subscribe to ARC Energy Ideas PodcastApple PodcastsAmazon MusicSpotify 

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