Good morning! This is Queen Street Analytics' weekly roundup of regulatory developments, legislative discussions, political announcements and other government-related news concerning oil and gas production, wells, drilling, petroleum and fuels refining, pipelines, LNG, hydrocarbons, and all Landman fans. Every Monday, we break down the most important updates in this space in under five minutes.

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Start Date: 2025-05-25
End Date: 2025-05-31

Canadian Federal GR News

Government Tables Legislation to Fully Repeal Consumer Carbon Price Provisions

The Department of Finance Canada announced phased legislative amendments to permanently repeal the fuel charge framework under Part 1 of the Greenhouse Gas Pollution Pricing Act. The amendments mirror already-enacted regulations that ceased the fuel charge as of April 1, 2025. Key transition elements include a continued special charge rule for certain railways until October 1, 2025 for prior-year true-ups, continued availability of rebates for fuel exported or for corrections until the fall deadline, and repeal of registration provisions by November 1, 2025. All remaining statutory elements, including administrative rules, will be removed by April 1, 2035, allowing for final winding-down activities. The Canada Revenue Agency will retain authority for necessary reassessments regarding prior obligations.

Sources: Announcements: www.canada.ca

Speech from the Throne: Economic and Energy Policy Priorities Outlined

At the Senate sitting on May 27, 2025 to open Parliament, King Charles III delivered the Speech from the Throne. The government’s legislative agenda includes redefining the economic relationship with the United States, strengthening ties with other trading partners, and building toward positioning Canada as an energy superpower. Major initiatives include reducing taxes, expanding dental care, removing trade barriers, enhancing border security, and strengthening the Armed Forces. Community safety measures and environmental priorities feature alongside a commitment to fiscal discipline and advancing truth and reconciliation with Indigenous Peoples. Procedural proceedings included a pro forma bill and the scheduled reconvening of the Senate on May 28, 2025.

Sources: Transcripts: senparlvu.parl.gc.ca

Motion Introduced to Bring Down Costs for Canadians, Featuring Energy Tax Measures

On May 27, 2025, Finance Minister François-Philippe Champagne introduced a Ways and Means Motion advancing a middle-class tax cut and eliminating GST for first-time home buyers on new homes up to $1 million. The motion also reiterates the immediate cancellation of the consumer carbon price, effective April 1, 2025. The package is positioned as direct financial relief to Canadians, with specific reference to actions already taken through regulatory means to end the federal fuel charge.

Sources: Announcements: www.canada.ca

Federal Funding Announced for Youth Green Jobs in Energy and Natural Resources

Natural Resources Canada, through Minister Tim Hodgson and Minister Patty Hajdu, committed $15 million to support 470 employment and training opportunities for youth aged 15–30 across energy, forestry, mining, earth sciences, and clean technology sectors. The Science and Technology Internship Program–Green Jobs supports placements up to 12 months, targeting workforce integration for youth and offering employers assistance in recruitment and training. This investment forms part of the Youth Employment and Skills Strategy, intended to broaden sectoral talent pipelines in natural resources and clean energy industries.

Sources: Announcements: www.canada.ca

Clean Technology Employment Sees Continued Growth in 2023

According to Statistics Canada's Environmental and Clean Technology Products Economic Account, there were 354,257 employee jobs in the environmental and clean technology sector in 2023, an increase of 4.3% year-over-year. This sector now accounts for 1.7% of all Canadian jobs, confirming sustained human capital growth in industries intersecting clean energy technology, potentially relevant for oil and gas businesses diversifying into clean technology products and services.

Sources: Open Government Data Set: www.statcan.gc.ca

US Federal GR News

CEQ Withdraws Interim NEPA Guidance on Greenhouse Gas Emissions

The White House Council on Environmental Quality (CEQ) issued formal notice of withdrawal for its January 2023 interim guidance on federal agencies’ consideration of greenhouse gas emissions and climate change in National Environmental Policy Act reviews. The decision, effective May 28, 2025, follows the policy direction set forth in Executive Order 14154, which critiques the 'social cost of carbon' methodology and calls for agency analyses of GHG emissions only where expressly required by statute. Further guidance from OIRA, issued May 5, 2025, instructs agencies to confine climate analysis in permitting to clear statutory mandates.

Sources: U.S. Federal Announcements: www.federalregister.gov

FERC Technical Conference Set for Resource Adequacy in RTO/ISO Regions

The Federal Energy Regulatory Commission issued a supplemental notice for its Commissioner-led technical conference scheduled for June 4-5, 2025, focusing on resource adequacy constructs across RTO/ISO regions. Discussions will address the role of capacity markets, regional disparities, and resource adequacy challenges within PJM, MISO, ISO New England, NYISO, CAISO, and SPP. Panelists will include state representatives, market operators, and subject matter experts. The public is invited to participate through pre-filed comments, and the event will be broadcast via FERC’s webcast and transcribed for the record.

Sources: U.S. Federal Announcements: www.federalregister.gov

FERC Issues Multiple Pipeline Filings and Requests for Comment

On May 30, 2025, the Federal Energy Regulatory Commission posted a combined notice of filings that include natural gas pipeline rate revisions, waiver petitions, annual refund and reimbursement reports, negotiated rate agreements, and compliance amendments to NAESB business practice standards. Effective dates for various tariff and rate changes range from late May through August 2025. FERC’s Office of Public Participation is available to assist stakeholders in accessing proceedings ahead of submission deadlines.

Sources: U.S. Federal Announcements: www.federalregister.gov

Mountain Valley Pipeline Amendment Project Environmental Scoping Launched

FERC began environmental review for the Mountain Valley Pipeline Southgate Amendment Project, seeking public comment by June 21, 2025. Modifications proposed include downsizing the pipeline from 75.1 to 31.3 miles while increasing diameter and raising capacity to 550,000 dekatherms per day. The Lambert Compressor Station is removed, and the updated route will affect 51 acres outside pre-authorized workspaces. Scoping sessions will be held in Virginia and North Carolina mid-June.

Sources: U.S. Federal Announcements: www.federalregister.gov

Canadian Provincial GR News

Ontario Proposes Legislation for Geologic Carbon Storage and Oil/Gas Well Safety

Ontario re-introduced the Resource Management and Safety Act, 2025, which includes provisions to enable commercial-scale geologic carbon storage, address hazardous oil and gas wells, update wildland fire management, and modernize land surveying for infrastructure development.

Sources: Provincial Announcement: news.ontario.ca

Saskatchewan Reports Sharp Reduction in Inactive Oil Wells Through ILRP

Saskatchewan's Ministry of Energy and Resources reported that the Inactive Liability Reduction Program has reduced the number of inactive oil wells by 1,083 since its 2023 launch. In 2024, industry spending on liability reduction was nearly double the ministry's $116 million target.

Sources: Provincial Announcement: www.saskatchewan.ca

Québec and California Joint Carbon Market Auction Results in $230 Million for Electrification Fund

Québec generated $230 million in revenue from its latest greenhouse gas emission units auction held jointly with California. Revenues will go to the province's Electrification and Climate Change Fund, with the next auction set for August 20, 2025.

Sources: Provincial Announcement: www.quebec.ca

New Brunswick Legislative Committee Sets 2025-2026 Plan for Environmental Policy Review

New Brunswick’s all-party standing committee on climate change adopted a 2025-2026 action plan, including engagements on the Clean Water Act, Clean Air Act, and recommendations for the province’s post-2027 climate strategy.

Sources: Provincial Announcement: www2.gnb.ca

Alberta Delegation to Washington, D.C. to Promote Energy Trade and Technology Partnerships

Alberta Premier Danielle Smith and cabinet officials will promote the province's energy sector in Washington, D.C., June 2-7, 2025, through meetings at international conferences and with U.S. stakeholders, focusing on North American energy security.

Sources: Provincial Announcement: www.alberta.ca

Public Officials' Social Media

Shannon Stubbs, MP, posted concerns that the Liberal government's Speech from the Throne did not mention oil and gas, urging repeal of laws such as Bill C-69 and the Oil Tanker Moratorium Act.

Sources: Social Media: x.com

Julie Dabrusin, MP, stated on social media that efforts are underway to make Canada's energy offering globally competitive by focusing on low-risk, low-cost, and low-carbon approaches.

Sources: Social Media: x.com

Senator Tony Loffreda discussed the key elements of the Throne Speech, focusing on middle class tax reductions and the removal of the consumer carbon price.

Sources: Social Media: x.com

Jasraj Singh Hallan, MP, questioned the government's refusal to repeal Bill C-69, the industrial carbon tax, and other measures affecting the oil and gas sector.

Sources: Social Media: x.com

Senator Tony Dean referenced recent media coverage regarding Alberta’s management of orphan oil and gas wells, drawing attention to regulatory discussions.

Sources: Social Media: x.com

What We're Reading This Week

• Opinion: Governments should call oil patch bluff to win carbon capture project commitment: Analysis on government incentives and oil patch participation in carbon capture initiatives.
• Shell Boost Stake in Nigerian Deepwater as TotalEnergies Exits Bonga Oilfield: Shell increases its presence in Nigeria's offshore sector with a larger stake in the Bonga oilfield.
• Long-Term Prosperity: Investing in America's Economic Pillars: Industry outlook on strategic sectors including LNG and oil & gas.
• Safe and Green Holdings Acquires 1,600 Acres of Oil Wells and Oil Leases: Acquisition expands Safe and Green Holdings' U.S. oil assets.
• Indonesia Energy Provides Update on its Strategic Vision and Dedication to the Future of Energy Development in Indonesia: Indonesia Energy outlines upcoming initiatives for national energy development.
• Results of the May 21, 2025 Québec and California Carbon Markets Auction: Overview of latest carbon auction results impacting North American markets.