The viability of OPEC as an effective organization is now in question
Gloom continues to cloud crude oil markets. With a COVID-19 vaccine unlikely to ride to the rescue of the global oil market for some time, the combination of weaker demand and rising oil supply provides a difficult backdrop to the meeting of the Organization of Petroleum Exporting Countries (OPEC) and their allies later this month,…
Crude oil demand is under the cloud. Not long ago, global demand was expected to peak around 110 million barrels per day (bpd). And in 2007, the Organization of Petroleum Exporting Countries (OPEC) forecast world demand for crude oil would reach even higher – 118 million bpd by 2030. But that was a different world.…
Much is at stake for the oil industry related to the outcome of the United States presidential election on Tuesday. What happens if President Donald Trump wins a second term? What happens if Joe Biden assumes the presidency? In his first term, Trump loosened methane rules and opened new offshore and Arctic areas to drilling.…
Canadian miners don’t venture haphazardly into the wild; they’re known for their careful planning and stable dividend yields
By Paz Gomez Research associate Frontier Centre for Public Policy Canadian mining companies have proved sustainable economic growth is compatible with the safe handling of a pandemic. Their financial acumen and business resilience show the rest of the country the way forward. A PwC report released in June demonstrates Canadian miners are weathering the COVID-19…
Internetization is revolutionizing our lives. But too many parts of Canada lack the electronic capacity needed to take advantage of it
Earlier this year, I was invited to deliver the keynote address at the 36th annual international conference of the Business & Economics Society International in Italy in July. But COVID-19 intervened and the conference was transformed to a virtual platform. I delivered my keynote address from my living room in Fredericton, N.B. The title of…
Global energy players and major stakeholders are out with their keenly-awaited and immensely researched outlooks
Energy outlook season is here. And it’s not rosy. Global energy players and major stakeholders are out with their keenly-awaited and immensely researched outlooks. COVID-19 has turned 2020 into an unusual year, carrying long-term ramifications for the energy world. The Paris-based International Energy Agency has termed the pandemic a disruption not seen since the “world…
As someone who believes in using science to promote human health and prosperity, I was startled to find myself classified as a Luddite in a recent commentary authored a Frontier Centre research associate. The one thing I can agree with in that commentary is that faster communications would provide many benefits to humankind. However, choices…
Desperation is creeping into the crude oil industry. With crude oil prices stuck at around $40 a barrel, S&P Global Ratings has estimated that the total government budgetary deficits of the oil-producing countries of the Co-operation Council for the Arab States of the Gulf could reach $490 billion cumulatively between 2020 and 2023. At the…
The world is past the era of growing crude oil demand and it may never recover to pre-pandemic levels
The crude games continue. While crude oil markets continue to be sloppy, despite the possibility of a small bull run just before the weekend, the Organization of Petroleum Exporting Countries and their allies in OPEC-plus are opting to keep their cards close to their chests. Avoiding any hint about their next steps, after their virtual…
While oil and gas investment has grown substantially in other parts of the world, Canada has failed to keep pace
By Mark Milke and Lennie Kaplan Canadian Energy Centre Over the past decade, one oft-heard claim is that oil and gas is a ‘sunset’ industry, where investment in Canada can be expected to decline given a worldwide flight from oil and investment. However, international data (available from 2009 to 2017) show no such worldwide flight…