China, United States move to stabilize crude oil markets

If OPEC forecast turns out to be correct, oil prices could go much higher

China, United States move to stabilize crude oil marketsA strong message is being sent to major global oil capitals: it’s time to cool down the markets. By urging the Organization of Petroleum Exporting Countries and their allies in OPEC+ to open taps – and endeavouring to impact the markets by selling crude oil from strategic reserves – the world’s major oil consumers are…

Oil and gas taxes play significant role in Canadian social programs

If the sector disappeared, taxes would have to be increased substantially to provide us with the services we have come to expect

Oil and gas taxes play significant role in Canadian social programsBy Mark Milke and Lennie Kaplan Canadian Energy Centre Between 1969 and 2019, Canadian parents received $499 billion in family allowance payments and children’s benefits from the federal government. That 50-year cost was matched by $505 billion in revenues to governments from the oil and gas sector – except that such taxpayer cash was collected…

Blowing in a fierce wind: Why crude oil prices are declining

Non-fundamental factors appear to be controlling crude oil market patterns

Blowing in a fierce wind: Why crude oil prices are decliningA number of major events weighed on global oil markets throughout last week. Those factors included: Hurricane Ida; the United States Federal Reserve delaying the tapering off of its economic stimulus; the decision of the Organization of the Petroleum Exporting Countries and its allies in OPEC+ to stick to their original output increments; the rising…

Delta variant hammering crude oil prices

Asia’s market is softening

Delta variant hammering crude oil pricesThe crude oil rally is stuttering. Having ceded some 15 per cent in prices in recent months, the rally we saw earlier this year has lost steam. Despite talk of growing demand, tightening markets, galloping prices and the call by U.S. President Joe Biden to the Organization of Petroleum Exporting Countries and their allies in…

Massive ancient lake emptied quickly enough to set off an ice age

U of A-led international team estimates the flood from Glacial Lake Agassiz may be largest known in Earth’s history

Massive ancient lake emptied quickly enough to set off an ice ageA flood of epic proportions drained at a rate of more than 800 Olympic swimming pools a second from a glacial lake that spanned the Prairie provinces more than 12,000 years ago, according to a University of Alberta-led study. The finding bolsters a theory that the event may have propelled the warming Earth back into…

With Iranian nuclear deal uncertain, crude oil prices rise

The summer driving season is upon us and Americans are hitting the road in much larger numbers than a year ago

With Iranian nuclear deal uncertain, crude oil prices riseCrude oil markets face an interesting mix of influences. While the COVID-19 Delta variant continues to affect the markets, conflicting signals seem to push oil prices in the opposite direction. Reports confirm that American oil consumption is rushing back much faster from the pandemic slump than initially predicted. The summer driving season is upon us…

Crude oil markets remain unsettled

Declining Chinese demand, a rising rig count in the United States and a devastating resurgence of COVID-19 in Asia all play a role

Crude oil markets remain unsettledIt has been a fluctuating week for the oil markets. In the immediate aftermath of the agreement within the Organization of Petroleum Exporting Countries and their allies in OPEC+, crude prices fell by a devastating seven per cent on July 19. However, with signs of demand holding despite the spread of the Delta COVID-19 variant,…

Canada’s clean energy future must include nuclear

Ignoring its potential would be a missed opportunity

Canada’s clean energy future must include nuclearIn 1950, Canada faced a difficult choice between the desire to be a leader in the development of nuclear energy technology and the fear that such technology would bring the end of the world a little closer. Despite concerns related to the bombing of Hiroshima and Nagasaki, Canada elected to be in the vanguard. As…

Oil markets feel pinch from renewed COVID-19 outbreaks

All eyes are focused on Saudi Arabia. Will it continue to single-handedly maintain stability in the markets?

Oil markets feel pinch from renewed COVID-19 outbreaksUncertainty has overtaken the crude oil markets again for several reasons. Since March, crude oil markets have mostly been ascending. But prices declined last week by a greater margin than any time in the last four-plus months. And the resurgence of COVID-19 in many parts of the world is clouding the near-term future of oil.…

ConnecTour Chronicles: Cheap rural living brings brewery dream to life

Nokomis Craft Ales is putting Nokomis, Sask. on the map – defying conventional thinking that only the big city yields success

ConnecTour Chronicles: Cheap rural living brings brewery dream to lifeTroy Media publisher Doug Firby and Travel editor Lisa Monforton are part of a group of Canadians who call themselves ConnecTour. Starting in May in British Columbia and ending in October in Newfoundland, they hope to make an 8,000-km bicycle journey across the country, discovering how the COVID-19 pandemic has reshaped our lives and our…

A clear example of why government and business shouldn’t mix

Centerra is being held hostage by Kyrgyzstan but, fortunately, it is no longer part of a Crown corporation so taxpayers aren't on the hook

A clear example of why government and business shouldn’t mixCenterra, a mid-size Canadian gold-mining company, is engaged in a legal and political dispute with the government of Kyrgyzstan, a former Soviet republic in Central Asia with a chronically unstable and fractious political class and culture. Its main asset, the Kumtor mine, is in that troubled land and the source of roughly half of its…

A sudden, frightening crash sidelines one of our cyclists

‘I threw down my bike and ran over to her. She was lying still on the pavement, entangled in her bike'

A sudden, frightening crash sidelines one of our cyclistsTroy Media publisher Doug Firby and Travel editor Lisa Monforton are part of a group of Canadians who call themselves ConnecTour. Starting in May in British Columbia and ending in October in Newfoundland, they hope to make an 8,000-km bicycle journey across the country, discovering how the COVID-19 pandemic has reshaped our lives and our…

ConnecTour Chronicles: Antique store owner revives memories

Sandra, 69, continues to run the antique store even though she lost her beloved husband Rich three years ago

ConnecTour Chronicles: Antique store owner revives memoriesTroy Media publisher Doug Firby and Travel editor Lisa Monforton are part of a group of Canadians who call themselves ConnecTour. tarting in May in British Columbia and ending in October in Newfoundland, they hope to make an 8,000-km bicycle journey across the country, discovering how the COVID-19 pandemic has reshaped our lives and our…

Student discovers threatened beetle is actually two separate subspecies

Discovery means the nationally threatened Gibson’s big sand tiger beetle is more at risk than previously thought

Student discovers threatened beetle is actually two separate subspeciesAn undergraduate research study has found that a threatened type of beetle found in Saskatchewan and Colorado is, in fact, made up of two genetically distinct subspecies. The discovery has important implications for conservation efforts for the insects and shows that both populations of Gibson’s big sand tiger beetle are more threatened than previously thought.…

Cheap talk and unsubstantiated claims hamper reconciliation

Vacuous electoral promises and virtue-signalling schemes won’t deliver the outcomes Indigenous Canadians need

Cheap talk and unsubstantiated claims hamper reconciliationCanada has consistently failed to make progress commensurate with the many lofty pronouncements and expectations on the Indigenous file. It’s a national shame that most Indigenous Canadians on reservations live far below acceptable socio-economic standards. Money isn’t the problem. By 2022, the federal budget allocations to Indigenous will have doubled since 2016 to nearly $25…

Bleak clouds over the crude oil horizon are dissipating

But much still depends on United States-Iran nuclear talks and how OPEC+ members will react to any deal

Bleak clouds over the crude oil horizon are dissipatingCrude oil markets are hot. Prices are up and the US$75 line has been breached. Chatter about oil touching US$100 is getting loud and clear. Global oil consumption is getting closer to the pre-pandemic levels. The bleak clouds hanging over the crude oil horizon are beginning to dissipate. Industry eyes are again on the Organization…

Medical tyranny behind the push for mass vaccination

It’s time provincial premiers return to evidence-based policy and govern in alignment with our constitutional freedoms

Medical tyranny behind the push for mass vaccinationSaskatchewan Premier Scott Moe recently urged his citizens to get vaccinated in a three-minute plea filled with dubious claims and faulty logic. It’s irksome that any executive assistant or speechwriter got paid to compose such nonsense. Moe said: “Those who have chosen to not get vaccinated, you will continue to be at risk of not…

Prairie provinces debt levels a ticking time bomb

An economic burden for future generations

Prairie provinces debt levels a ticking time bombThe debt in Canada’s Prairie provinces has grown colossally during the COVID-19 pandemic, just as debt has in the rest of Canada and around the world. At the end of 2020, Alberta’s debt was estimated at $98 billion, Manitoba’s was $28.6 billion and Saskatchewan’s was $15 billion. These debts are an economic burden for the taxpayers…

Rising demand and prices suggest an oil market resurgence

US$100 oil is a distinct possibility

Rising demand and prices suggest an oil market resurgenceThe world needs more oil. The Organization of Petroleum Exporting Countries (OPEC), Russia and American shale oil producers all need to up their output to keep the rising prices of the “super cycle,” as Saudi Energy Minister Prince Abdulaziz bin Salman called it, under control. Media reports say Prince Abdulaziz bin Salman told the Robin…

Short-term gains on the crude oil market as climate change looms

The IEA concedes rising oil demand at odds with its call to end new oil, gas and coal funding

Short-term gains on the crude oil market as climate change loomsThe International Energy Agency (IEA) is torn between two conflicting ends. On one hand, it’s grappling with climate change issues; on the other, it sees rising oil prices. For now, the two ends seem to be running parallel but not converging. Oil demand is rising fast, as are prices, reaching multi-year highs on Friday. Brent…

OPEC+, IEA clash over future of fossil fuels

IEA wants all investments in new developments to stop. Others warn that could lead to $200 a barrel oil

OPEC+, IEA clash over future of fossil fuelsThe Organization of Petroleum Exporting Countries and their allies in OPEC+ are on a collision course with energy watchdog International Energy Agency (IEA) on at least two counts. Last month, the Paris-based IEA delivered the starkest warning yet on fossil fuels, saying the exploitation and development of new oil and gas fields must stop this…

Why Canada’s heavy oil is an integral part of U.S. production

Anyone who thinks the U.S. can do without Canadian oil, especially heavy oil, is misinformed. Canadian oil is critical to the Americans

Why Canada’s heavy oil is an integral part of U.S. productionBy Mark Milke and Lennie Kaplan Canadian Energy Centre The United States banned exports of crude oil in the mid-1970s, as the result of an oil embargo directed at the U.S. by Middle Eastern countries. The embargo began as a result of American support for Israel during the 1973 Yom Kippur War. In response, some…

Oil market shows signs of improvement but for how long?

Alternative energy and calls for the world to overcome its reliance on fossil fuels gaining currency

Oil market shows signs of improvement but for how long?The short-term prognosis for crude oil looks exciting. But that may be a mirage. The approaching summer driving season in the Northern Hemisphere and the lifting of COVID-19 restrictions have stimulated demand. The Organization of Petroleum Exporting Countries (OPEC) and its allies in the expanded OPEC+ appear confident that with the accelerating vaccination programs and…

Prairie provinces must put an end to rising debt

The current turmoil could weaken budgetary discipline, leading governments into long-term spending and increased debt

Prairie provinces must put an end to rising debtAt the end of 2020, Alberta’s debt was estimated at $98 billion, Manitoba’s was $28.6 billion and Saskatchewan’s stood at $15 billion. These debts are lower than Quebec’s ($220 billion) and Ontario’s ($448.9 billion), but there are concerns about their sustainability. Indeed, they’re a long-term burden for the governments, the taxpayers and the economy. Debt growth…

Oil and gas sector soars over aerospace, auto industries

Higher wages and better productivity contribute to an industry that’s a dominant part of Canada’s economy and its GDP

Oil and gas sector soars over aerospace, auto industriesBy Mark Milke and Lennie Kaplan Canadian Energy Centre It’s hard for anyone but mathematicians and economists to conceptualize numbers in the billions. To get around that problem, and as a prelude to comparing major Canadian industries, let’s start with a smaller number and a question: How would you like to make $2,740 every week?…

America may not like it but pipelines are crucial

Are we prepared for the economic consequences of shutting them down?

America may not like it but pipelines are crucialBy Mark Milke and Lennie Kaplan Canadian Energy Centre There’s nothing like real life as a corrective to Disney-like musings, where fantasies are concocted absent any connection to reality. The newest example comes from a recent ransomware attack directed against Georgia-based Colonial Pipeline. The American pipeline company, which ships 100 million gallons of refined fuel…

Iran’s likely return to crude oil marketplace causes ripples

Biden seems to have slackened America's tight grip on Iranian crude exports reigniting a market share battle within OPEC

Iran’s likely return to crude oil marketplace causes ripplesIran and the United States are closing in on reviving the 2015 Joint Comprehensive Plan of Action (JCPOA), commonly termed as the Iran nuclear deal. U.S. President Joe Biden is keen to strike a deal before the June presidential elections in Iran, which hardliners are projected by many to win. All this has significant bearing…

New research to fill a critical gap in beef production system

First BCRC-Hays Chair in Beef Production Systems at the U of A to play a key role in building a more sustainable and competitive industry

New research to fill a critical gap in beef production systemGleise M. Silva grew up in Recife, Brazil, a city perched on the turquoise edge of the Atlantic, home to lush forests, stunning beaches and 17th-century architecture. And yet, while living and studying in the “Brazilian Venice,” Silva found herself overwhelmingly drawn towards a subject she would never encounter in her hometown. “I was 100…

Democracies can’t abandon oil and gas production

We have to beware tyrannies and autocracies that use oil and natural gas as weapons

Democracies can’t abandon oil and gas productionBy Mark Milke and Lennie Kaplan Canadian Energy Centre History shows tyrannies and autocracies use oil and natural gas as weapons when interacting with democracies. This is obvious during wars – tanks and jets don’t run on vegetable oil – as well as peacetime. For example, in 2009, Russia cut natural gas supplies to Ukraine in…
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