Oil industry facing (c)rude awakening

The game is up: Oil and gas companies can no longer mask their financial frailty

Oil industry facing (c)rude awakeningThe decline in oil demand accelerated by Covid-19 may be a sign of the future. Forty publicly-traded U.S. oil producers wrote down a collective $48 billion worth of the value of their assets in the first quarter of 2020, the U.S. Energy Information Administration reported. Quoting Deloitte, Oilprice.com points out that the collapse in crude…

When the energy sector works, Canada works

When the energy sector works, Canada worksAs the fight against this unprecedented global pandemic continues, a renewed focus on delivering a realistic plan that will support Canada’s economic recovery has never been more important. Canada has worked hard to contain the spread of COVID-19. This is a credit to the leadership our public health officers across Canada have provided, and to…

Canada’s future brighter with broader trade

We are too dependent on two of our top three customers: the U.S. and China. And both of these are increasingly hostile

Canada’s future brighter with broader tradeCanada relies on exports. In any given year, about 45 per cent of our economy is in foreign trade. For much of the past, our exports have been mainly in the agriculture and resources sectors. These are still important, but services (think international education), manufactured goods (e.g. Lululemon clothing) and technology (e.g. the Canadarm robotic…

Unions fail to measure up in a time of economic crisis

By reducing business profits, unionization ultimately makes workers worse off, diminishing employment and wages

Unions fail to measure up in a time of economic crisisA recent story in The Monitor – a magazine published by the left-wing, union-friendly think-tank Canadian Centre for Policy Alternatives – provides an important lesson in basic economics. The headline triumphantly proclaims: “Gig workers win the right to unionize.” The end result was unfortunate for the workers, however. An editor’s note at the top of…

As Canadians flee cities, food sector recalibrates

Grocery retailers must come to terms with serving a shifting population. And restaurants face learning to be more flexible

As Canadians flee cities, food sector recalibratesCanadians seem to want to flee urban centres. The food industry will need to keep a close eye on the trend. The real estate market is overheating in regions outside of major cities like Toronto, Montreal, Vancouver and Halifax. Recent real estate reports suggest sales are up 20 per cent in many rural markets and…

Paris emissions targets carry extra costs for Canada’s economy

The gap between expectations and existing policy is wide. Closing that gap will cost thousands of jobs and devastate whole economic sectors

Paris emissions targets carry extra costs for Canada’s economyBy Mark Milke and Lennie Kaplan Canadian Energy Centre Aspirations are important in life but it’s always helpful to be clear on the means to the desired end, especially if others are involved. A case in point: General commitments by governments in Canada to significantly reduce carbon emissions by 2030, i.e., the Paris commitment. In…

Restart Canada’s economic engine with oil and gas

We can get Canadians back to work by leveraging the sector’s leadership in environmental protection and its export potential

Restart Canada’s economic engine with oil and gas“The country isn’t going to recover unless the oil and gas sector recovers.” These words from federal Natural Resources Minister Seamus O’Regan made headlines and highlight the importance of Canada’s largest industry. The reality is that natural gas and oil play an unarguable role in the national economy. Natural gas and oil are Canada’s biggest…

Canada’s rising food insecurity problem

Food inflation is on the way up, despite lower prices for other consumer goods. And COVID-19 has impacted incomes

Canada’s rising food insecurity problemStatistics Canada has confirmed what most of us knew already: Canada is becoming a hungrier place. According to a survey conducted by the federal agency in May, almost one in seven (14.6 per cent) Canadians indicated they lived in a household where there was food insecurity in the past month. In 2017-18, a similar survey…

Brakes applied to worldwide oil, gas exploration

The long-term view is frightening. With long gestation periods, new oil and gas projects may not get online when needed

Brakes applied to worldwide oil, gas explorationInternational oil and gas exploration and production are in the doldrums and won’t likely rebound any time soon. Canada has curtailed its crude output by one million barrels per day (bpd). The country’s active oil and gas rig count had fallen to an all-time low of 17 in early June, Baker Hughes reported. That was…
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