5 Sharp Observations from the Global Energy Show

If you didn’t catch the Global Energy Show this year, don’t worry, I have you covered with my five sharpest observations about the event. To be fair, I focused on the executive conference and the exhibitor booths, and skipped the Next Gen Theatre and emissions talks due to time constraints. Sometimes it would be great to have my own avatar-agent who could take in parts of such conferences independently.

A Bit of Context

The GES is held annually in Calgary in June, just ahead of the Calgary Stampede, that curious celebration of Calgary’s historic western culture of livestock, cowboy hats, and general prairie debauchery.

Taking in the Stampede is like going to an old museum. The first time is a treat, maybe even a thrill, but going every day for 10 days straight cures you of ever pulling on cowboy boots for a whole year. But I digress.

The GES used to be called the Global Petroleum Show, and years ago, it was huge. The show floor straddled multiple acres and buildings, and the outside tarmac was chockers with rigs, equipment, turbines, and displays. To have called it a global show was very much aspirational. It was decidedly North American in content and attendance.

Four things changed. First, the show started to shrink. I can’t pinpoint exactly when, but it was likely in 2015-2016, when the price of oil collapsed and the industry retrenched. Office towers emptied, employment fell, and capital fled. Calgary hasn’t really fully recovered. You can see it in how many office buildings are being converted to condos, a sure sign the industry isn’t coming back.

Second, the petroleum companies abandoned their long practice to host pavilions. Petroleum became a dirty word in Canada as the federal government enacted a bunch of legislation aimed at curbing the industry’s growth. A tanker ban on the west coast (but not the east). Criminal charges for oil companies who talk publicly about their efforts to support energy transition. A hard cap on emissions from the industry. A tax on all carbon emissions. Political approval required for capital projects in energy infrastructure.

Third, the show rebranded itself from Petroleum to Energy, reflecting the need to distance the conference from the growth-constrained oil and gas sector to the (theoretically) burgeoning energy market (hydrogen, nuclear, renewables, sustainables). Energy demand is expected to continue to grow indefinitely, and Canada’s energy rich west aspires to be a player in all forms of energy.