Putin's War has lifted the Gulf states out of an almost decade-long economic slump
I am in Abu Dhabi and the glitter is visible – all around. With the oil-based economies of the Gulf’s current high budgetary surpluses, the glitter will only shine brighter. New projects worth hundreds of billions of dollars are being showcased throughout the region, from Saudi Arabia to Qatar and from Abu Dhabi to Kuwait.…
'He does not think beyond the pipeline. He does not think beyond the cause of the day'
American actor Mark Ruffalo took another uninformed swipe at the Coastal GasLink pipeline this week, claiming via Twitter that “the cleanest river in North America is about to be sacrificed to the oil and gas industry” because of project construction. Earlier this year, Ruffalo joined other celebrities to demand that RBC cease funding Coastal GasLink,…
Tens of billions of dollars in wages, contracts and own source revenues are at risk
On July 18, the federal government announced a plan to reduce emissions from the oil and gas sector by 42 per cent in just eight years. To meet such targets, this policy would effectively stop all new projects in the oil and gas sector, as well as curtail existing ones. This would dramatically affect global…
Both sectors face inflationary pressures but are being dealt with very differently
As anyone who has ever spent time in the kitchen knows, when a pot is boiling over, you do not put a lid on it. You lower the heat. Adding a cover does nothing to reduce the cause of all the excess bubbles and steam. In fact, increasing the pressure within the vessel generates an…
Limiting gas imports from Russia has thrust the country into its biggest energy crisis since the Second World War
Germany is stuck between a rock and a hard place. On the one hand is its decision to limit crude and gas imports from Russia. On the other, its industrial might is under threat. Berlin’s political decision to limit gas imports from Russia has thrust the country into its biggest energy crisis since the Second…
Producer and consumer nations targeting a price of around $90 a barrel
Oil markets are being pushed and pulled – from both ends. As conflicting factors weigh on the markets, the future crude scenario remains hazy and muddy. The Organization of Petroleum Exporting Countries and their allies, including Russia in the extended OPEC+, appear determined not to let the crude market prices go considerably below their target…
Singling out oil and gas doesn’t make sense
Canada’s strategy to single out greenhouse gas emissions from the oil and gas industry could make it harder to meet overall reduction targets, according to two leading energy analysts. Neither of Ottawa’s two proposed policies to cap and reduce oil and gas emissions would allow carbon market trading with other industries. That’s a problem, says…
G7 agrees on devising a system that would only allow the sale of Russian oil at below-market prices
Well, they did it. During their virtual meeting last Friday, finance ministers from the G7 agreed on devising a system that would only allow the sale of Russian oil at below-market prices. “The price cap is specifically designed to reduce Russian revenues and Russia’s ability to fund its war of aggression whilst limiting the impact…
How did things get so bad, so fast?
By Stewart Muir and Margareta Dovgal It’s been obvious for months that a global energy crisis was coming. Then last Monday, just when we thought things couldn’t get any worse, the chief executive of Shell predicted that Europe is headed for a multi-winter energy crisis, with consequences that cascade around the world. The situation is…
Coastal GasLink and Indigenous partners work together to revive depleted salmon stocks
“When we talk about land, we say we belong to this territory. This land holds us, and we are nurtured from it.” These are the words of Aileen Prince, chief of the Nak’azdli Whut’en First Nation in northern B.C. near Fort St. James. Prince and her community have suffered numerous indignities over the years, including…