And OPEC is in no mood to open taps to fill in any gaps created by the absence of Russian crude
The oil markets are likely to face another round of supply disruptions. Most indicators point to a bullish trend in the near future. After recently announcing the release of over 180 million barrels of crude oil from its strategic reserves (SPR) over the next six months to cool down the markets, the United States government…
Full European Union ban on Russian oil could have unintended economic consequences for the West
The war in Ukraine is transforming global geopolitics and crude oil dynamics. On the geopolitical front, the United States has relentlessly rallied its allies against Russia. The Russian energy sector has still not been directly impacted by the sanctions. But the repercussions are apparent, even as the world is finding it hard to replace Russian…
Access to stable and affordable energy from Canada is important to the Free World
Canada’s chattering classes – often more accustomed to playing the ineffectual dovish role – are rushing to prove their outrage over Russia’s invasion of Ukraine and demonstrate their resolve to make Russian President Vladimir Putin pay. However, these are often the same people who opposed Canadian gas pipelines, which could help fellow NATO countries. The…
World leaders are doing everything Thunberg and people like her say, without batting an eye
It seems everything is about justice these days. As I drove home from the store recently, I saw a sign for the elections here in New York from the local Democratic Party, promising “equity, equality, and justice for all.” Beyond the obvious concerns any sane person should have about a promise of “equity,” the sign…
Carbon border taxes won’t save the climate but they will create trouble for the world economy
Carbon taxes at borders are becoming a popular idea among some countries and regions of the world. It’s an idea destined to damage the global economy. For example, the European Commission, the European Union executive institution, wants environmental tariffs “on imports from countries with less stringent climate-protection rules.” Democrats in the United States Senate proposed…
Natural gas in Europe rising to five times what it was in early 2021
By Mark Milke and Ven Venkatachalam Canadian Energy Centre With the recent rise in the price of natural gas in Europe to five times where it was in early 2021, expect to see many more Europeans and those in the United Kingdom plunged into what’s known as energy poverty. From Greece to Great Britain, the…
According to Natural Resources Canada, at the end of 2018 Canada had 73 trillion cubic feet (tcf) of proven natural gas reserves
By Mark Milke and Lennie Kaplan Canadian Energy Centre In 2009, the eastern European country of Ukraine endured a twin lesson in geopolitics and energy security: Russia cut off its natural gas supply in mid-winter. Russia’s public reason was that it was engaged in a pricing dispute with Ukraine. In reality, it was an attempt…
Its policies on renewable energy mean that dependence will only deepen
By Mark Milke and Lennie Kaplan Canadian Energy Centre One of the more bizarre developments in Europe in recent years has been the twin policy path in which fossil fuels are discouraged in favour of wind and solar energy, but deals are struck with autocracies such as Russia to import more fossil fuel via pipelines.…
Brexit can also be an opportunity for members of the Commonwealth to strengthen their trade, social and military ties
Brexit has allowed the United Kingdom to establish an independent trade policy outside the expectations of the European Union. European law and treaties signed by the EU no longer apply to the U.K. Accordingly, the British government signed the Trade Continuity Agreement with Canada. The agreement, which took effect on April 1, maintains the intent…
If Brexit has put wind in Scottish nationalist sails, it has also upped the complexity. Pulling off a successful secession has gotten tougher
May 6 will be an interesting day for anyone following politics in the United Kingdom. Along with various local council votes, there’ll be an election for all 129 seats in the Scottish Parliament and a byelection for the vacant Westminster seat in Hartlepool. The results of the last two will be keenly watched. There’s not…