Aug 24, 2012

MITT ROMNEY’S ENERGY PROGRAM

  • He likes Canada, and would approve the Keystone Pipeline and is looking for a North American partnership for onshore and offshore drilling programs
  • Sees the US as an exporter of oil and gas and is looking for the US to be independent by 2020
  • Believes low natural gas prices keep the US in an advantageous position
  • Wants to give more individual power to each state
  • Would like to restore transparency and fairness to permitting and regulation

OIL & GAS

  • Royal Dutch Shell is planning on spending $1B / year in China on the potential resources of shale gas (China is estimated to hold the world’s largest reserves of unconventional gas)
  • European governments, including Belgium, the Netherlands and France, are buying crude oil and refined products to meet new EU rules designed to mitigate potential supply chain issues (i.e. sanctions against Iran)
  • Shell, the operator of the Athabasca Oil Sands Project, has achieved a production milestone of 500MM bbls since production began in 2003

TIDBITS

  • Alberta Health Services has 400 facilities, including 100 hospitals, almost 100,000 employees, and costs of $12.7 billion in 2011
  • Alberta Health Services has the lowest administration costs in Canada (3.5% of total costs) and is focused on more and better access to health care and improved quality
  • Bank of Canada Governor Mark Carney wants leading Canadian corporations to invest their cash, “dead money” or pay them out in dividends (i.e. Suncor ($5.2B), Teck Resources ($3.64B) and George Weston ($3.6B))
  • German Chancellor Angela Merkel stated she will not pre-judge Greece’s request for further economic assistance until she is asked and ECB President Draghi is waiting for a ruling later this fall from the German Constitutional Court to clarify if Germany can participate in the European Stabilization Mechanism.