OPEC+ opens oil production taps after U.S pressure

With the continuing OPEC+ oil output cuts, markets were going into an overdrive mode. Prices at U.S. gas stations rose sharply

OPEC+ opens oil production taps after U.S pressureSurprising the markets and going against expectations, the Organization of Petroleum Exporting Countries and its allies in the extended OPEC+ changed course at their ministerial meeting last week. At the virtual meeting, OPEC+ opted to increase its output by 350,000 barrels per day (bpd) in May another 350,000 bpd in June, and roughly an additional…

OPEC+ expected to continue to dampen oil output

Crude oil markets continue to show signs of weakness – even without the Houthi attacks on Saudi Arabia and the Suez Canal closure

OPEC+ expected to continue to dampen oil outputPressure is mounting on the Organization of Petroleum Exporting Countries and their allies in the extended OPEC+ to roll over their crude oil output cuts when they meet on April 1. Markets continue to show signs of weakness – even without the Houthi attacks on Saudi Arabia and the Suez Canal closure. But the Suez…

Canadian oil still the safest bet for Americans

Canada was the only free-country supplier of foreign crude oil to the U.S. between 1993 and 2020

Canadian oil still the safest bet for AmericansBy Mark Milke and Lennie Kaplan Canadian Energy Centre Imagine you’re in Germany and wonder if it’s a good idea to rely so heavily on natural gas imports from Russia, where the governing regime is accused by German politicians of killing journalists and the attempted murder of Russian opposition leader Alexei Navalny. German Chancellor Angela…

Meeting Canada’s aggressive green targets a tall order

Speed and efficiency are not things that Canada’s lumbering and increasingly dysfunctional regulatory systems are known for

Meeting Canada’s aggressive green targets a tall orderBy Jock Finlayson and Denise Mullen Business Council of B.C. Building back ‘clean’ and ‘green’ means trillions of dollars of investment, and the electrification of many machines and activities that presently rely on fossil fuels – from personal vehicles and freight transportation to industrial processes. It’s not hard to understand the growing interest in electricity.…

Oil market recovery may be on borrowed time

The recent spike in oil markets was engineered – fundamentals didn’t drive it. There were issues about the tight leash on output

Oil market recovery may be on borrowed timeThe oil market recovery is faltering. Uncertainty over the speed of an economic recovery and whether there will be a full rebound in global oil demand is holding back the markets. Stalled COVID-19 vaccination efforts in parts of the world and a strong dollar are also keeping the markets from rising much further. The recent…

Alberta had no business pumping public money into Keystone XL

Given what was known about Keystone XL, it’s hard to understand the decision-making the government undertook to buy into the scheme

Alberta had no business pumping public money into Keystone XLThe long-suffering citizens of Alberta recently learned that they’re on the hook for yet more billions of dollars via an ill-advised investment in an oil pipeline. The Keystone XL project was festooned with red flags well before the injection of hard-earned and now lost taxpayer funds. Political risk can be hard to quantify but it’s…

Which sector spends the most on the environment? Oil and gas

Between 2006 and 2018 the oil and gas sector spent $28.1 billion on environmental protection; ALL other industries combined spent $39.6 billion

Which sector spends the most on the environment? Oil and gasBy Mark Milke and Ven Venkatachalam Canadian Energy Centre As two people not born in Alberta but who live here now – one of us came from British Columbia and the other from India – we’re constantly amazed at the misinformation about the province and one of Canada’s biggest economic contributors: the oil and gas…

Saudis determined to keep crude oil market on a tight leash

Although the OPEC+ decision resulted in immediate oil price gains, the warning shots on the horizon couldn’t be altogether ignored

Saudis determined to keep crude oil market on a tight leashSaudi Arabia is leading the pack on crude oil production management. Russia seems to be following. Despite murmurs in the oil market of a possible rift between the two countries on the issue of output, the Organization of Petroleum Exporting Countries (OPEC) and their allies in the OPEC+, at their virtual meeting last Thursday, went…

The wasted pursuit of social licence for oil exploration

Canada wasn’t targeted for international outrage because it was a threat to the global climate, but simply because it was an easy target

The wasted pursuit of social licence for oil explorationFor several decades, Canada was the focus of a global attack on its natural resource economy, with its oil sands deposits (the world’s third-largest oil reserve) ranked as public enemy number one. Though only a tiny contributor to global greenhouse gas emissions (about 1.6 per cent of the total), the oil sands were seen as…

Why America shouldn’t cut off Canada’s energy supplies

Canadian oil helps keep the United States economy humming and natural gas helps keep American homes warm

Why America shouldn’t cut off Canada’s energy suppliesBy Mark Milke and Lennie Kaplan Canadian Energy Centre In a world where Russian President Vladimir Putin is widely assumed to be behind the poisoning of opposition leader Alexei Navalny, liberal democracies should stick together. This should be especially relevant on matters related to energy. Russia has been using energy exports as a weapon for…
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