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.…
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…
Canada has to step up to the plate and help its allies
German Chancellor Olaf Scholz’s recent visit to Atlantic Canada was an opportunity for a serious long-term strategy to address several different aims: European Union (EU) energy security, East Coast economic development, Canadian energy industry growth (and higher federal tax revenue), and the likely-alarmist crusade to lower carbon dioxide emissions. The result of his visit, unfortunately,…
Not to do so hurts us, our allies and the environment
German Chancellor Olaf Scholz recently completed a trip to Canada to discuss, among other things, Europe importing Canadian natural gas. With the invasion of Ukraine, and the sanctions that followed, Germany, which imported 55 per cent of its natural gas from Russia in 2021, has had to reopen some coal plants and has started looking…
At a time of soaring energy costs, we need this type of legal activism like we need a hole in the head
The anti-energy left has weaponized consumer protection laws in the United States to punish oil and gas companies simply for carrying out their core business. If their lawfare succeeds, there will be serious repercussions for the energy security of North America and the West. According to a recent PBS story, at least 20 cities and…
U.S. President Joe Biden desperately needs lower prices at American gas stations, especially in a mid-term election year
Speculation is growing about a deal between the United States and Iran reviving the stalled nuclear agreement, letting additional Iranian crude oil enter the markets. But efforts to sabotage the agreement are apparent. The return of Iranian crude is important to the United States for various reasons. U.S. President Joe Biden needs lower prices at…
Growing LNG exports is in Canada’s and our allies' best interest
Prime Minister Justin Trudeau isn’t optimistic about liquefied natural gas (LNG) exports to Europe because he says there’s no business case. Even though the chancellor of Germany just came to Canada asking for LNG to help fill the five new import terminals it’s building. And even though companies are ready to invest, if given the…
They could be the catalyst to finally getting something done in Canada
One of the best ideas that has gone nowhere is the creation of resource corridors for long-distance transportation infrastructure using routes where land-use and development issues are resolved in advance. Historically, the path of transportation infrastructures like railroads, highways, power lines and pipelines has been “map and ruler,” a straight line at the lowest cost.…
Weaker-than-expected demand growth means the oil market is likely to remain in surplus into early next year, say analysts
Oil markets were under considerable pressure last week. Both Brent and U.S. West Texas Intermediate (WTI) crude oil prices fell, with Brent futures settling at US$96.72 and WTI ending at US$90.77 per barrel. Both benchmarks fell about 1.5 per cent on the week, as future contract values dropped to their lowest level in seven months…