Discovery that technology is viable moves it closer to becoming part of a low-carbon economy
University of Alberta research is making new strides in discoveries about capturing and storing carbon – while yielding a high-value end product from carbon dioxide. A process that injects the greenhouse gas deep below ground, then circulates it to extract heat and geothermal energy, has proven viable in a feasibility study by U of A…
Why not use carbon emissions as a building block for other industrial processes and products?
Climate change demands immediate action, and there’s no shortage of discussion about emissions reduction. Indeed, climate policies and pledges flowed left and right leading up to the federal election. However, largely absent from the mainstream dialogue on the shifting energy landscape is any pragmatic talk about the productive use of carbon emissions. That’s right –…
If OPEC forecast turns out to be correct, oil prices could go much higher
A strong message is being sent to major global oil capitals: it’s time to cool down the markets. By urging the Organization of Petroleum Exporting Countries and their allies in OPEC+ to open taps – and endeavouring to impact the markets by selling crude oil from strategic reserves – the world’s major oil consumers are…
If the sector disappeared, taxes would have to be increased substantially to provide us with the services we have come to expect
By Mark Milke and Lennie Kaplan Canadian Energy Centre Between 1969 and 2019, Canadian parents received $499 billion in family allowance payments and children’s benefits from the federal government. That 50-year cost was matched by $505 billion in revenues to governments from the oil and gas sector – except that such taxpayer cash was collected…
New restrictions to fight the Delta variant will slow demand growth in the second half of 2021
Interesting moves are being made on the global energy chessboard. In an unexpected move, Saudi Arabia announced it would slash its official selling prices (OSPs) for oil exports to Asia in October. The price cut was more than expected. Saudi Aramco, the state-controlled oil giant, said in a statement on Sept. 5 that the official…
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…
Things are changing faster, and for the better, than radical environmentalists recognize or acknowledge
A recent Globe and Mail story about a firm developing garbage-to-biodiesel technology shows how continuing progress makes the global warming extremists’ most hysterically apocalyptic predictions, and their extreme absolutist ‘solutions,’ not only grossly wrong but already likely obsolete. In the case of the company profiled, Cielo Waste Solutions Corp. is able to transform not just…
Owners of the most popular vehicles in Canada will pay much more in carbon taxes in coming years
By Mark Milke and Lennie Kaplan Canadian Energy Centre Except for a few blessed spots in southern Ontario and southern British Columbia, Canada is a cold northern country. That means that for six months of the year or more, snow can pile up on streets, highways, your driveway, and condominium and apartment exit ramps. And…
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…
Global markets’ overdependence on China backfires as COVID resurgence forces travel restrictions
China has been the sole driver of the global crude oil markets for years. Its growing crude thirst has, time and again, pulled the markets up. Last year, while crude markets were touching the ebb, even going into negative territory, “Chinese buyers dragged oil prices out of the doldrums single-handedly as they stocked up on…