internationally competitive and rewarding destination for investment capital, the panel said in its final report. “The whole world has changed since 2020,” says David Yager, an industry veteran and special advisor to the Premier who chaired the review panel. New areas of focus including carbon capture and storage (CCS), emerging resources like lithium, and new opportunities like data centres require a modernized approach, Yager says. “The question was whether or not the regulator was well suited for where the current government wants to take Alberta, and the answer is no, it wasn’t. But that’s changed,” he says. “The conclusion everybody involved in the review came to is the AER is an independent regulator that needed more direct industry participation, so here we are.” Prior to taking on the top job at the AER, Morgan retired as CEO of Strathcona Resources, a growing oil and gas producer in Alberta and Saskatchewan. Along with hiring Morgan, the AER has brought on a reconstituted board of directors as part of implementing the panel’s recommendations. Chairing the revamped board is Duncan Au, former CEO of CWC Energy Services, a contract drilling and well servicing company operating in Canada and the U.S. that was acquired by Precision Drilling in November 2023. Just months into their new jobs, Au and Morgan wrote in the AER’s annual report about their new appreciation for the complexity of weighing the various elements of the regulator’s mandate. “The narrative around energy development has taken on a new sense of urgency not only with a discussion of finding new markets and customers, but also how to grow and diversify Alberta’s role in those markets,” they wrote. “From oil and gas to emerging opportunities
Discover stillness and adventure on the Miramichi River On the north shore of the Miramichi River sits Black Rapids Retreat. Praised for its peaceful, quiet setting, world-famous fishing, and abundance of indoor and outdoor activities all year round. Our two renovated cabins, the Atlantic and the Pacific, await up to 16 guests (8 per cabin) with classic cottage vibes but all the modern amenities including a thermal circuit with a hot tub, barrel sauna, and 2 cold plunges to help unwind during your stay. Our Corporate Retreat packages include All-inclusive options providing beverages and meals prepared by our private cook in-house along with other additional service add-ons to get the most out of your stay at Black Rapids Retreat
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AER will be tasked to find the appropriate path among many competing priorities and perspectives. ”
We can’t wait to see you!
1231 NB-118, Gray Rapids, NB carlie@heyhost.ca 506.874.7007
14 SPOTLIGHT ON BUSINESS MAGAZINE • VOL 25 ISSUE 4 www.blackrapidsretreat.com
SPOTLIGHT ON BUSINESS MAGAZINE 15
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