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Imperial Oil CEO opposes Alberta separatism ahead of Oct. 19 vote
Imperial Oil said it is backing Premier Danielle Smith’s production goals, with a plan to potentially double gross operated upstream production.
Imperial Oil CEO John Whelan said he opposes Alberta separatism, becoming the first major energy company in the province to take a public stance on the movement, OilPrice reports, citing Financial Post and Bloomberg.
Alberta will vote on Oct. 19 on whether to authorize the provincial government to pursue a binding independence referendum, which would be a procedural question rather than a direct separation vote. A government-commissioned University of Calgary study modeled two scenarios: a smooth transition would cost Alberta an estimated 2.2% of GDP in the short term and leave it 3.4% higher over the long term versus staying in Canada, while a difficult transition would cost 10.1% in the short term and 16.2% over the long term.
The province’s own estimate projects $50 billion to $170 billion in costs over the first five years, including $40 billion to $55 billion in start-up costs alone. OilPrice also notes that other Alberta energy executives have not joined the separatism push, with Cenovus Energy CEO Jon McKenzie saying the sentiment is rooted in grievances and would subside if addressed.
Whelan additionally endorsed Premier Danielle Smith’s production goals, saying Imperial Oil has the potential to double its gross operated upstream production while advancing additional do, according to the outlet’s summary of the Bloomberg-referenced comments.