Car racing relies on oil and gas. Canada should be the choice supplier, rather than nations like Saudi Arabia
German Formula One driver Sebastian Vettel sat on a podium in Montreal last week in gear emblazoned with his sponsor logos – including Organization of Petroleum Exporting Countries (OPEC) oil giant Saudi Aramco, owned by the tyranny state of Saudi Arabia – and told reporters that Alberta’s oil sands is “criminal.” He had arrived earlier…
The best bet remains to bring sanctioned Iranian oil back to the market
American gasoline prices have crossed the unprecedented US$5-a-gallon mark. American Automobile Association data shows prices at the pump are up roughly 60 per cent from a year ago. And prices in Canada are already more than $2 a litre. We are seeing new record prices around the world with each passing week. And no respite…
LIV Tour is a PR tool for a reprehensible government seeking to wash away its human rights abuse
The things people will do for money … The way Greg Norman, Phil Mickelson, Dustin Johnson, Graeme McDowell and other professional golfers tap dance while trying to come up with reasons to justify their move to the new LIV Tour is embarrassing. The LIV Tour has nothing to do with growing the game of golf,…
The crude oil world has inched into a crisis mode. The world faces a “much bigger” energy crisis than the one in the 1970s. Fatih Birol, the executive director of the International Energy Agency (IEA), told the German daily Der Spiegel in an interview last Tuesday. The IEA, the Organization for Economic Co-operation and Development…
With crude oil fortunes on an upswing, Saudi Arabia – the world’s largest crude producer – is playing its cards very well. The crude oil markets have been transformed, with prices starting in 2022 at US$75.69 and now trading at around US$115 a barrel. That’s a gain of just over 50 per cent so far…
Despite the sanctions, Russian oil revenues are soaring
The energy pieces on the global chessboard are altering geopolitical realities, with serious consequences. China is boosting the volume of crude oil it purchases in order to increase its strategic reserves, Reuters’ Clyde Russell reported on Friday. China, the world’s largest crude importer, is buying more oil at a point when the demand-supply balance is…
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…
How is the Russian invasion of Ukraine different from the U.S.-led invasion of Iraq?
American writer and philosopher Ralph Waldo Emerson said, “Fiction reveals the truth that reality obscures.” I admit I’ve never been a great fan of fiction; I prefer writing that spells out the author’s perspective on what’s actually happening in the world. But there are times when nothing speaks the truth more effectively than a great…
Saudi Arabia is in active talks with China to price some of its oil in yuan
The United States owes a significant part of its eminence as the sole superpower to the dominance of its dollar in the global economy. This dominance is aided by the fact that the dollar is the currency of the global oil trade. Every country in the world needs U.S. dollars to buy oil. Even without…
Major oil-consuming nations seem to have gained some leverage in a market full of uncertainties
As 2021 winds down, oil markets face uncertainties. Omicron has begun to change crude demand perceptions. Economies – especially in Europe – are beginning to stutter, and Canada is also under pressure, with increasing restrictions in place. All this will impact crude oil consumption in the months to come. There’s no unanimity among experts on…
German Formula One driver Sebastian Vettel sat on a podium in Montreal last week in gear emblazoned with his sponsor logos – including Organization of Petroleum Exporting Countries (OPEC) oil giant Saudi Aramco, owned by the tyranny state of Saudi Arabia – and told reporters that Alberta’s oil sands is “criminal.” He had arrived earlier…
