Kenney sworn in as premier of Canada's oil-rich Alberta

Published 2019-04-30, 01:49 p/m
© Reuters.  Kenney sworn in as premier of Canada's oil-rich Alberta
WMB
-
ENB
-

By Nia Williams (NYSE:WMB)

CALGARY, Alberta, April 30 (Reuters) - United Conservative Party leader Jason Kenney was sworn in as the 18th premier of Canada's main crude-producing province Alberta on Tuesday, and named a cabinet he says will champion the beleaguered energy sector.

Kenney, a former conservative federal cabinet minister, won the election with a landslide victory against Rachel Notley's New Democratic Party after promising to reverse years of economic stagnation and decline. will focus relentlessly on creating good jobs, growing the economy and building pipelines west, east and south to get our products to market and secure full value for our resources and future prosperity," Kenney said at the swearing-in ceremony in the provincial capital Edmonton.

Alberta is home to Canada's vast oil sands but has struggled with a lacklustre economy since the 2014-15 global oil price crash, as well as steep discounts on its crude because of congestion on oil export pipelines.

Key cabinet appointments include former lawyer Doug Schweitzer as Solicitor General, Travis Toews as Finance Minister and Sonya Savage, who used to work for pipeline company Enbridge Inc ENB.TO as Energy Minister.

Kenney has pledged to challenge Canadian Prime Minister Justin Trudeau and other politicians he says take Alberta's oil and gas industry for granted.

The Alberta legislature convenes for the first time in May and Kenney has said its first order of business will be scrapping Alberta's carbon tax, a move that promises to put the province on a collision course with Ottawa. year Notley's government imposed temporary oil production cuts to ease a buildup of crude in Alberta storage tanks and boost prices, and also signed C$4 billion contracts to start shipping crude by rail.

Kenney is expected to keep curtailments in place but has vowed to cancel the rail contracts, and the oil industry is watching closely to for his government's next move.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.