Ted Morton, Ron Liepert Swap Energy and Finance Portfolios in Redford Cabinet Page 1 of 3

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Ted Morton, Ron Liepert swap energy and finance portfolios in Redford cabinet Page 1 of 3 Ted Morton, Ron Liepert swap energy and finance portfolios in Redford cabinet BY DAN HEALING, CALGARY HERALD OCTOBER 12, 2011 1:40 PM Ted Morton was named Alberta’s new energy minister Wednesday. Photograph by: Stuart Gradon, Calgary Herald CALGARY — Ted Morton, Alberta’s new energy minister, will appeal to the oil and gas sector both with what he’s likely to do and with what he’s expected to leave alone, observers said after Premier Alison Redford announced her first cabinet today. Redford switched the roles of Ted Morton and Ron Liepert, moving the former from finance to energy and the latter from energy to finance. Initial reactions were that Morton will do a good job selling Alberta’s oilsands in the United States and advancing work on regulatory reform and land-use issues — while leaving the much-tweaked provincial oil and gas royalty system alone. Opinion was split on Liepert’s prospects. “Ted will be a much better energy minister and Liepert will be a much worse finance minister. This is a trade-off,” said Frank Atkins, professor of economics at the University of Calgary. Atkins said he was surprised Liepert remained in cabinet after not showing up for Redford’s swearing-in ceremony and supporting other candidates in the Tory leadership race. http://www.edmontonjournal.com/story_print.html?id=5539411&sponsor= 12/ 10/ 2011 Ted Morton, Ron Liepert swap energy and finance portfolios in Redford cabinet Page 2 of 3 Atkins said Liepert, who moved from health to energy in early 2010, did a poor job promoting oilsands in the U.S. and was unpopular with oil and gas industry players. Mike Tims, chairman of Calgary investment bank Peters & Co., said he likes the overall look of the new cabinet. “It’s an excellent balance between past experience and getting some new folks in,” Tims said, adding the energy industry wants “a period of stability” especially relating to royalties. “Morton and Liepert are both very smart guys,” he said. “They understand the industry in that sense so I think it will all work out fine.” Gary Leach, president of the Small Explorers and Producers Association of Canada, noted Alberta’s new minister of environment and water, Diana McQueen, did a good job in her previous role as energy department parliamentary secretary, including chairing a cross-ministry task force aimed at cutting regulatory red tape. “She’s now minister of environment and water, which has a heavy interconnection with the energy sector so she brings to that quite a bit of background she acquired in that junior minister’s role,” he said. “I’m pleased to see Ted Morton in energy. I think he’ll be a good advocate for the sector.” He said he also likes the appointment of Doug Griffiths as municipal affairs minister, a role which relates to the health of the oil and gas sector. [email protected] Read the full list from the Government of Alberta. © Copyright (c) The Calgary Herald Previous Next http://www.edmontonjournal.com/story_print.html?id=5539411&sponsor= 12/ 10/ 2011 Ted Morton, Ron Liepert swap energy and finance portfolios in Redford cabinet Page 3 of 3 Ted Morton was named Alberta’s new energy minister Wednesday. Photograph by: Stuart Gradon, Calgary Herald http://www.edmontonjournal.com/story_print.html?id=5539411&sponsor= 12/ 10/ 2011.

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