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The CAPP is predicting an increase in upstream investments in oil and gas while Kenney fights potential pipeline block Morinville-St. Albert MLA Dale Nally is Alberta’s associate minister of Natural Gas. Associate Minister of Natural Gas and Electricity Dale Nally is encouraged by a report predicting increased investments and growth in oil and gas. “We have said all along that there is reason for optimism in oil and gas," Nally, who is also the MLA for Morinville-St. Albert, said. "It is the oil and gas industry that got us here and it is the oil and gas industry that will grow and get us into a period of recovery." On Jan. 13, the Canadian Association of Petroleum Producers (CAPP) released a forecast predicting a 14-per-cent increase in upstream natural gas and oil investment. According to the forecast, capital spending is expected to reach $27.3 billion this year, a $3.36-billion increase from what it was in 2020. The overall increase of investment is partly due to the roll-out of the COVID-19 vaccine, with CAPP stating it expects growth in economic activity and energy demand as a result. In Alberta, upstream investment is predicted to increase 18 per cent to a […]
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