Silver linings to upheaval in energy sector

The first thing greeting delegates at the first annual Energy Disruptors Unite conference was the diverse makeup of the attendees.

There were more women in the room than is usually the case at Calgary business events, drawn from across the age spectrum.

In fact, the age range in the room at the Big Four Building was truly intergenerational — from the grey-haired veterans of the energy and banking sector, to the young summer students and the entrepreneurs somewhere in the middle who are playing a role in the disruption of the energy sector.

It was representative of Calgary’s potential.

Even after the last panel ended — which saw the ARC Energy Institute’s Peter Tertzakian, ATB’s Dave Mowat, author Susan Cain and Sir Richard Branson discussing everything from corporate culture, the importance of authentic leadership, the need for individuals and companies to take risks and be prepared to pick up the pieces if things don’t go according to plan — there was no rush for the exits.

Many stayed behind to connect, rehash the day and what they had learned.

This was about being inspired. It was about listening to NRStor’s Annette Verschuren and Enmax CEO Gianna Manes talk about the evolution of the electrical grid and the importance of not moving forward and not being mired in process, rather than consumed with action.

It was also about hearing Suncor CEO Steve Williams talk of the successes of the company bringing down its costs and emissions per barrel, and the imperative of reframing the energy conversation.

While Williams highlighted a number of important facts — while being expertly quizzed and prompted by Holly Ranson — there was one comment in particular that kept being repeated through the afternoon.

And it had to do with the discussion about energy transitions. A transition, said Williams, suggests you know where you are going.

But that’s not the case.

We do know where we are coming from, he said, but we don’t know our destination.

The combination of population growth and a rising middle class around the world will have an effect on the energy ecosystem.

Williams reminded the 1,500 delegates in the room of the different variables at play disrupting the energy sector — from the fragmented media landscape contributing to the polarization of views that is hindering progress, to the heavy autonomous vehicles operating in the Suncor mines and the breakthroughs that have come from research and development to reduce emissions, water use and land disturbance.

And presentations by companies in the innovation sphere — Revelant and Eavor — along with Canadian Natural Resources, which highlighted the Clean Research and Innovation Network — fit in with the message that there is more on the horizon that will support the future greening of the oilsands and increase its cost competitiveness.

In as much as the focus is on hard science and how it can help the energy sector meet the needs of the population — both in terms of demand and environmental footprint — the other message was about people.

Branson made the point that it’s time to think of companies and workplaces differently; the old, industrial model of running

companies is a thing of the past, he said. If employees need time off, the flexibility of working from home or a part-time structure, then the company needs to respond to that.

He also said leaders must be good listeners — which he had to put into practise as Tertzakian took him to task for referring to the oilsands as tarsands.

“Tarsands is an example of branding. Negative branding, actually … in the course of the last 10 years we have come far … I am confident that if we pick up on the themes of this very important conference, which seeks to raise awareness, it is critically important that we all have that enthusiasm to demonstrate to the world that we … are part of the solution for the future and we are truly making this planet better,” Tertzakian said respectfully — and firmly — and to a round of applause.

But the bigger picture is how companies adapt to the disruption taking place within the industry — the tools they give their employees in order to be successful and implementing a culture that both allows risk and strives for success.

In other words, a company whose only goal is survival is doomed; all it does is cause talent to flee.

The energy sector has arguably been in that survival mode for the better part of four years — in addition to the reality that it has been, and will continue to be, disrupted.

But much has changed — for good in terms of technology, innovation and efficiency — and now it’s time to see the sector as moving forward, and to think of the future as being one that attracts the younger generation that sees the world from the lens of what is possible by harnessing the potential of ingenuity, drive and intellectual capital, rather than those who are still yearning for the past and carry the proverbial ‘deer in the headlights’ look.

The microcosm of what is truly possible is illustrated by the success of the conference, which has come at a critical time in the journey of the oilpatch — and Calgary. Delegates, by turns, are optimistic, enthusiastic and inspired. And it has nothing to do with oil trading above $70 per barrel (U.S).