Referendum is exposing a deep crack in Confederation
Alberta’s referendum on equalization is more than a vote on a federal program: it’s an urgently needed conversation about a deep crack in Confederation. So far, Canada has ignored the problem and the rift has grown. Now a referendum yes vote will push federal and provincial governments to the negotiation table. So, let’s talk. All…
More of the same
What does another Trudeau win mean for Western Canadians? After all, the actual composition of the House of Commons changed little, and once again, the Liberals will need the support of either the NDP or the Bloc Quebecois to pass legislation. So, for the most part, we can expect a continuation of some programs, including…
Non-fundamental factors appear to be controlling crude oil market patterns
A number of major events weighed on global oil markets throughout last week. Those factors included: Hurricane Ida; the United States Federal Reserve delaying the tapering off of its economic stimulus; the decision of the Organization of the Petroleum Exporting Countries and its allies in OPEC+ to stick to their original output increments; the rising…
Strength in agricultural, environmental and engineering research shows in latest NTU rankings based on scientific publications
Bolstered by a strong showing in agriculture, the University of Alberta landed in the top 100 of a world ranking that compares the scientific performance of universities based entirely on academic publications. According to the 2021 NTU Ranking, calculated by National Taiwan University, the U of A ranked 91st globally – up one spot over last…
Asia’s market is softening
The crude oil rally is stuttering. Having ceded some 15 per cent in prices in recent months, the rally we saw earlier this year has lost steam. Despite talk of growing demand, tightening markets, galloping prices and the call by U.S. President Joe Biden to the Organization of Petroleum Exporting Countries and their allies in…The history of government attempting to pick winners and losers in a market-based economy is absolutely abysmal
One of the eternal questions of public policy is: should governments get into bed with private businesses? Whether it’s called a public-private partnership, buying a controlling interest for taxpayers, investing in the technologies of tomorrow or just avoiding a business failure on our watch, the debate over whether the overall idea of government investing in…
Cave in to government employee unions during negotiations
Like boxers standing in the middle of the ring before a big fight, Alberta Premier Jason Kenney and government union bosses are in a stare-down before the big battle of 2021: government employee contract negotiations. For years, these negotiations were foregone conclusions. Premiers would talk tough and then cave. Politicians weren’t betting with their own…
Declining Chinese demand, a rising rig count in the United States and a devastating resurgence of COVID-19 in Asia all play a role
It has been a fluctuating week for the oil markets. In the immediate aftermath of the agreement within the Organization of Petroleum Exporting Countries and their allies in OPEC+, crude prices fell by a devastating seven per cent on July 19. However, with signs of demand holding despite the spread of the Delta COVID-19 variant,…
But much still depends on United States-Iran nuclear talks and how OPEC+ members will react to any deal
Crude oil markets are hot. Prices are up and the US$75 line has been breached. Chatter about oil touching US$100 is getting loud and clear. Global oil consumption is getting closer to the pre-pandemic levels. The bleak clouds hanging over the crude oil horizon are beginning to dissipate. Industry eyes are again on the Organization…
Fixing the royalty structure seems like low-hanging fruit
With news of the official termination of the Keystone XL project, the Alberta government is out approximately $1.3 billion. What’s more, the province is left with unrefined bitumen that it doesn’t have the capacity to upgrade to higher-value products like gasoline and diesel. Why, then, does the province not look to develop its own capacity…