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On the energy transition, ARC Financial’s Mac Van Wielingen feels ‘a touch of vindication’

CALGARY— When Mac Van Wielingen evaluates the current state of energy markets, where oil and natural gas prices have skyrocketed amid Russia’s invasion of Ukraine, he doesn’t see a clear-cut story of fossil fuels triumphing over renewables.  

Instead, the veteran Calgary-based energy investor describes it as a crisis of narrow-minded energy policy, where he says leaders have for years set aside nuance or realism in their efforts to reach net-zero emissions. Van Wielingen, the founder of ARC Financial, one of Canada’s largest energy-focused private-equity funds with about $6 billion in assets under management, is among a growing chorus of energy sector voices framing the recent oil shock as evidence that a rapid shift away from fossil fuels could threaten energy security. 

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