As COVID-19 cases rise again, oil forecasts fall

The world is past the era of growing crude oil demand and it may never recover to pre-pandemic levels

As COVID-19 cases rise again, oil forecasts fallThe 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…

Weak oil and gas investment still plagues Canada

While oil and gas investment has grown substantially in other parts of the world, Canada has failed to keep pace

Weak oil and gas investment still plagues CanadaBy 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…

Taking technological disruption to the next level

5G has the potential to leapfrog societies into more sophisticated business models and multiply jobs, and improve the quality of our lives

Taking technological disruption to the next levelBy Paz Gomez Research Associate Frontier Centre for Public Policy Despite concerns ranging from health risks to espionage, the fifth-generation technology for mobile connectivity (5G) has prompted a global adoption race – and there’s no going back. Contrary to conspiracy theories, it’s a necessary and positive step toward a fully digital economy. In Canada, the…

Are we seeing a partial recovery in the energy market?

Supported by all these bullish factors, Brent crude spot prices rose. Yet oil markets also face bearish pressures

Are we seeing a partial recovery in the energy market?Faced with gloom and some good news at the same time, crude oil markets continue to be in a quandary. Retrenchment and lack of capital investment could eventually lead to crude shortages, argued David Messler in a piece in Oilprice.com in June. The shortage could result in firming up of oil prices. Messler also points…

Trump’s oil industry optimism is misplaced

The pain is only just beginning to ripple through the U.S. industry in the form of bankruptcies and layoffs

Trump’s oil industry optimism is misplacedIn love and war, everything is fair. And U.S. President Donald Trump knows that well. After all, to him, the re-election bid is nothing but war. While campaigning in Midland, a region deep in the heart of the west Texas oil patch, Trump underlined: “And now we're back,” proclaiming euphorically, “and now we're just going…

Is it time to walk away from trade with China?

If China wants to keep trading with the West, it needs to do something about the living standards of its working people

Is it time to walk away from trade with China?The idea that our entire civilization could depend on millions of foreign slaves that we pretend don’t exist is like something out of a dystopian novel. But it’s the world in which we’ve lived for decades. COVID-19 is proving to be the wake-up call we needed. With cheap goods comes cheap labour, and with cheap…

Oil industry facing (c)rude awakening

The game is up: Oil and gas companies can no longer mask their financial frailty

Oil industry facing (c)rude awakeningThe decline in oil demand accelerated by Covid-19 may be a sign of the future. Forty publicly-traded U.S. oil producers wrote down a collective $48 billion worth of the value of their assets in the first quarter of 2020, the U.S. Energy Information Administration reported. Quoting Deloitte, Oilprice.com points out that the collapse in crude…

Canada’s future brighter with broader trade

We are too dependent on two of our top three customers: the U.S. and China. And both of these are increasingly hostile

Canada’s future brighter with broader tradeCanada relies on exports. In any given year, about 45 per cent of our economy is in foreign trade. For much of the past, our exports have been mainly in the agriculture and resources sectors. These are still important, but services (think international education), manufactured goods (e.g. Lululemon clothing) and technology (e.g. the Canadarm robotic…

Crude oil marketplace bubble can’t last

Iran, Venezuela and Libya have virtually been forced out of production. But that hasn’t made the lives of other producers easier

Crude oil marketplace bubble can’t lastAn uneven playing field exists in the crude oil marketplace. Two major producers, Iran and Venezuela, face sanctions on their oil sales from the United States. Meanwhile, Libya is in the midst of civil strife. These circumstances mean a considerable volume of oil isn’t available to the markets. Yet the Organization of Petroleum Exporting Countries…

Developing countries face hard economic choices

Helping developing countries as they navigate post-lockdown choices would be an astute global business recovery plan

Developing countries face hard economic choicesBy Constantine Passaris and Murshed Chowdhury University of New Brunswick The COVID-19 global pandemic has widened the economic disparity between developed and developing countries. The economic consequences have been uneven. Canadians have good reason to be concerned about their economic future and livelihoods in the post-pandemic period. However, a global comparative assessment reveals that we’re…
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