The need to generate cash, along with political pressure, compelled the Saudis to make some bitter decisions
Saudi Arabia has capitulated. A few moves here and there, in Washington and elsewhere, made the trick work. Saudi Arabia made a surprise announcement last week that it would cut its crude oil output by a further one million barrels per day (bpd) from planned June levels, “voluntarily.” This takes the total Saudi production cuts…
Stores will open again, cars and trucks will begin to run and planes will fly. Our lives will continue – and life takes energy
Federal Green Party Leader Elizabeth May recently said “oil is dead” and her “heart bleeds for people who believe the sector is going to come back.” It’s foolish to assert “oil is dead” at any time, but it’s particularly ignorant to say it in the midst of an unprecedented global crisis. Canadians are relying on…
Despite claims by some that ‘oil is dead’ and that the sector is heavily subsidized, the evidence suggests otherwise
By Mark Milke and Lennie Kaplan Canadian Energy Centre In the ongoing debate over whether Canada’s oil and natural gas industry will or should survive, one argument often advanced is the notion that oil and gas activity in Canada survives only due to massive subsidies from taxpayers. The debate has been fuelled recently by comments from…
Climate warriors spend a great deal of time condemning current practices without offering realistic solutions
In the past several months, we’ve heard dire and angry imprecations and accusations from the new climate crusaders. They demand total obeisance to their escalating demands. Any critics to their approach to catastrophic global warming are denounced as deniers or heretics. A new religious-political-social movement has sprung out of this trend: Extinction Rebellion, with the…
Neither the lockdown not government diktat will end our dependence on fossil fuels for quite some time
By Mark Milke and Lennie Kaplan Canadian Energy Centre In 1897 while in London in the midst of a worldwide speaking tour, American author Mark Twain became the subject of rumours back home that he was dead. To discover the truth, a reporter from the New York Journal wrote to Twain to ask if he…
He needs to do something to boost his electoral fortunes, with the presidential election looming in November
Is American President Donald Trump beating war drums in the Middle East to prop up the ailing crude oil industry? After having failed to turn around the oil markets by engineering an unprecedented output cut deal between Saudi Arabia and Russia, Trump seems to be looking desperately at other options. The crude oil industry is…
Oil prices have taken a catastrophic drop. Unemployment numbers are through the roof. Bankruptcies are raising their ugly heads
Monday was the equivalent of a major financial nightmare for the U.S. economy. Oil futures for West Texas crude went below zero for the first time in history and finished at US-$37.63 a barrel. Don’t rub your eyes too hard. That’s a minus, not a plus, next to the dollar figure. What does this mean?…
The COVID-19 crisis can’t be used as an excuse to kill one of Canada’s largest, best-paying industries, which benefits us all
Mark Milke and Lennie Kaplan Canadian Energy Centre While the world grapples with the COVID-19 pandemic and an economic downturn, anti-energy activists have spotted an opportunity: to kill off Canada’s oil and gas industry – the one that provides hundreds of thousands of jobs and hundreds of billions of dollars in tax revenues to governments.…
What we do now to support the energy industry will determine Canada's future economic health and its role as a global supplier
Governments have been forced to take bold actions during the COVID-19 pandemic and simultaneous economic crisis. For the Canadian Association of Petroleum Producers (CAPP) and our member companies, health and safety is a top priority. We support governments’ measures to protect the health of citizens and flatten the curve in the spread of COVID-19. We…
Thoreau, Gandhi and King understood that going to jail was a reasonable price to pay for protest. Why don’t we accept that today?
In 1849, American philosopher Henry David Thoreau was angry at his government’s actions in the Mexican-American War and at the continued legality of slavery in the United States. He published an essay entitled Civil Disobedience, in which he stated that that the evils of war and slavery should be confronted by citizens through withholding their…