Alberta oil and gas hugely important to Ontario economy

$2.1B in salaries and wages were generated as the result of oil and gas spending in 2017

Alberta oil and gas hugely important to Ontario economyBy Ven Venkatachalam and Lennie Kaplan Canadian Energy Centre A headline screamed “The end of the Oil Age” in the Economist in 2003. Fast forward 18 years and that still doesn’t make sense in many ways. The demand for oil is increasing across the globe. Even U.S. President Joe Biden is asking the Organization of…

Follow our Indigenous neighbours to a carbon-neutral future

The Wet’suwet’en are trying to preserve our planet in the face of the oil industry trying to amass profit

Follow our Indigenous neighbours to a carbon-neutral futureA major issue is getting surprisingly little coverage in the Canadian media. While we looked away to watch the impact of the climate crisis on farmland in southern British Columbia, 50 heavily armed RCMP constables raided a peaceful blockade in Wet’suwet’en territory in the north of the province. The police used helicopters and canine units…

Biden must act now to rein in rising oil prices

Most likely course of action is a release of oil from emergency reserves

Biden must act now to rein in rising oil pricesU.S. President Joe Biden must act – and act quickly – to rein in the crude oil markets. Pressure is coming from all sides, including from his Democratic Party. Last week, 11 Democratic senators, including several known for their concerns on climate change, urged Biden in a letter to act quickly. “As the United States…

Pressure mounts on OPEC+ from all sides

It is defying oil-consuming nations to increase output, for now

Pressure mounts on OPEC+ from all sidesA tug of war has erupted on the world oil market. Despite growing pressure from major crude-oil consuming nations, the Organization of Petroleum Exporting Countries and its allies in the expanded OPEC+ announced they would stick to their original plan by increasing output by only 400,000 barrels per day (bpd). OPEC+ members seemed to be…

Abandoning fossil fuels plunging many Europeans into darkness

Natural gas in Europe rising to five times what it was in early 2021

Abandoning fossil fuels plunging many Europeans into darknessBy Mark Milke and Ven Venkatachalam Canadian Energy Centre With the recent rise in the price of natural gas in Europe to five times where it was in early 2021, expect to see many more Europeans and those in the United Kingdom plunged into what’s known as energy poverty. From Greece to Great Britain, the…

Energy market cool-down sought on multiple fronts

Is Biden getting ready to cave in to Iran to help rein in oil prices?

Energy market cool-down sought on multiple frontsDiplomatic pressure is mounting as the Organization of Petroleum Exporting Countries and allies in OPEC+ prepare to decide their next crude oil output move. Global leaders are assembling in Glasgow for the COP26 climate summit this week with considerable unease over increasing gasoline prices. The leaders seem intent on discussing ways to rein in the…

‘Fly-in, fly-out’ oil sands workers face significant mental health challenges

Time away from home contributes to low morale and difficulty maintaining healthy habits

‘Fly-in, fly-out’ oil sands workers face significant mental health challengesThe mental health of contract workers who fly in and out of Alberta’s oil sands compares poorly with that of the general population, according to a new report co-written by University of Alberta sociologist Sara Dorow. In one of the first studies in Canada to examine mental health and well-being in the fly-in, fly-out (FIFO)…

Oil market turmoil may well benefit consumers

The push and pull of conflicting factions may be providing some relief to consumers

Oil market turmoil may well benefit consumersLast week ended on a calmer note for crude oil markets and major oil-producing countries. Crude oil prices fell slightly as the week ended, finally hovering a little below the recent highs. Forecasts of a warm U.S. winter put some brakes on the price rally that carried the crude markets beyond $86 a barrel early…

Canada missing out on $1.2-trillion EU natural gas market

According to Natural Resources Canada, at the end of 2018 Canada had 73 trillion cubic feet (tcf) of proven natural gas reserves

Canada missing out on $1.2-trillion EU natural gas marketBy Mark Milke and Lennie Kaplan Canadian Energy Centre In 2009, the eastern European country of Ukraine endured a twin lesson in geopolitics and energy security: Russia cut off its natural gas supply in mid-winter. Russia’s public reason was that it was engaged in a pricing dispute with Ukraine. In reality, it was an attempt…

Climate summit forced to confront inconvenient truths

Movement to reduce global emissions toward net-zero is still too slow

Climate summit forced to confront inconvenient truthsWith the United Nations climate summit in Glasgow scheduled to open on Oct. 31, global powerhouses are coming up with their annual energy outlooks earlier than the customary November. With climate issues coming to the forefront at the COP26 summit, most of these reports and analyses are meant to help world leaders make decisions. But…

What happens to climate talks in the face of rising oil prices?

Decision to open the taps and let the markets surge comes just before UN Climate Change Conference

What happens to climate talks in the face of rising oil prices?Rapid moves with long-term ramifications are being made on the global energy chessboard. Early last week, the Organization of Petroleum Exporting Countries and its allies in OPEC+ opted to stick to their original plan and gradually open the crude oil taps. After their Oct. 4 ministerial meeting, OPEC+ said it had “reconfirmed the production adjustment…

Crude oil prices are soaring as production slows

A global energy crunch could help propel prices above US$100 a barrel

Crude oil prices are soaring as production slowsAll eyes are focused on the Organization of Petroleum Exporting Countries and its allies in OPEC+ as they meet today. With crude oil prices touching US$80 a barrel and prospects of hitting US$100 this winter looming large, markets are on edge. The market trajectory is virtually impossible to delineate. A global energy crunch could help…

What the future of energy looks like

Underpinning it all, like the safety net to a secure supply, will be fossil fuels

What the future of energy looks likeThe kingdom of Queen Elizabeth I was humming along quite nicely when, around the mid-1500s, Her Majesty caught wind of an environmental crisis in the offing. The forests were disappearing. Wood was the first energy source and had been so for millenniums. But kilns of industry and hearths of homes had been eating up the…

Why wind and solar energy aren’t the answer to reducing global emissions

Wind and solar farms replacing the 84% of global energy from fossil fuels is technically impossible

Why wind and solar energy aren’t the answer to reducing global emissionsIn a previous column I pointed out that since switching coal-fuelled power plants to natural gas cuts CO2 emissions in half, exporting liquefied natural gas (LNG) to displace coal benefits our economy and reduces global emissions. And that since converting gasoline and diesel-fuelled vehicles and ships to natural gas cuts emissions by 25 per cent,…

Finally, an LNG project that just might get built

Rationality can prevail, clean, abundant natural gas can be used for decades, energy ‘transition’ or not

Finally, an LNG project that just might get builtAn estimated $55-billion liquefied natural gas (LNG) project to take natural gas from northeastern British Columbia to its northwest coast at Pearse Island recently received the blessing and financial and political backing of the Nisga’a First Nation. The First Nation is on the proposed pipeline route and is the site of planned liquefaction terminal. This…

Canadian oil and gas sector has huge impact in U.S.

The reality is, Canadians have a significant stake in the United States oil and gas industry

Canadian oil and gas sector has huge impact in U.S.By Mark Milke and Lennie Kaplan Canadian Energy Centre One critical problem for political and business leaders is getting people to think outside their local box. While many people might prefer a local restaurant or coffee shop to a national chain, international trade is the very reason a Canadian restaurant can offer inexpensive vegetables in…

Dampening Asian demand cools crude oil prices

New restrictions to fight the Delta variant will slow demand growth in the second half of 2021

Dampening Asian demand cools crude oil pricesInteresting moves are being made on the global energy chessboard. In an unexpected move, Saudi Arabia announced it would slash its official selling prices (OSPs) for oil exports to Asia in October. The price cut was more than expected. Saudi Aramco, the state-controlled oil giant, said in a statement on Sept. 5 that the official…

Chinese demand drives world oil markets

Global markets’ overdependence on China backfires as COVID resurgence forces travel restrictions

Chinese demand drives world oil marketsChina has been the sole driver of the global crude oil markets for years. Its growing crude thirst has, time and again, pulled the markets up. Last year, while crude markets were touching the ebb, even going into negative territory, “Chinese buyers dragged oil prices out of the doldrums single-handedly as they stocked up on…

Who needs oil and gas in the next 30 years? Africa and Asia

Population and economic growth will continue. Absent a miracle, oil and gas will remain key

Who needs oil and gas in the next 30 years? Africa and AsiaBy Mark Milke and Ven Venkatachalam Canadian Energy Centre When the International Energy Agency (IEA) called for an immediate halt to all new oil and gas investment worldwide in May, it appears they neglected to account for two important realities: Africa and Asia. Those two continents have been in population and economic booms for decades.…

Markets must drive Canada’s energy conversion

Canada’s 2050 goal to achieve net-zero emissions might look good on paper, but it will harm investors, companies, employees and households

Markets must drive Canada’s energy conversionCanada’s policy to achieve net-zero emissions by 2050 necessitates divesting from fossil fuels. There’s just one problem: massive outstanding loans from banks to the oil and gas industries. The oil and gas sector makes up more than 10 per cent of the Canadian economy, and abolishing it, gradually or otherwise, would take its toll. Canadian…

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…

Natural gas offers the best way to meet emissions targets

G7 countries will further cripple their economies by pursuing their green energy fantasies

Natural gas offers the best way to meet emissions targetsAt their meeting in June, G7 leaders agreed to a greenhouse gas emissions target of “net zero” by 2050. That would require phasing out fossil fuels that currently supply 84 per cent of global energy. But how? The common reply is “putting a price on carbon,” i.e., carbon taxes. But unless there’s a viable alternative,…

Saudi Arabia losing its clout within OPEC+ and the Middle East

As OPEC+ talks to increase crude oil production stall, the Saudis seem to have lost a key ally in the United Arab Emirates

Saudi Arabia losing its clout within OPEC+ and the Middle EastAdrenalin never stops flowing in the oil business. Dull moments are rare. The emerging scenario among the Organization of Petroleum Exporting Countries and their allies in the expanded OPEC+ is no different. The group was on the verge of finalizing a deal on Thursday to increase its crude output by two million barrels per day…

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…

The danger of ignoring the costs of Canadian climate policy

Consumers, taxpayers, shareholders of Canadian firms and workers will all pay the price for Canada’s cost-insensitive climate policy

The danger of ignoring the costs of Canadian climate policyBy Jock Finlayson and Denise Mullen Business Council of B.C. Your home’s natural gas furnace is on the fritz. You need heat, so you must replace it. There are several options: electric baseboards, electric radiant flooring, a heat pump, or direct gas-fired space heaters. It may also be feasible to use your existing wood fireplace…

The dangers of shutting down North American pipelines

We should stop caving in to North American virtue signallers

The dangers of shutting down North American pipelinesMichigan Gov. Gretchen Whitmer has launched the latest political hit job on a Canadian pipeline. Whitmer is targeting Enbridge’s Line 5, which runs from Alberta through the Great Lakes region to refineries and chemical plants in Sarnia, Ont. The Sarnia terminus sells to companies that make products that fuel cars, trucks, vans, ships and airplanes…

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…

Is a new world order on the horizon for the energy sector?

The IEA lays out recommendations for what needs to happen, and when, to transform the global economy from one dominated by fossil fuels

Is a new world order on the horizon for the energy sector?The world must act quickly on climate change, says the International Energy Agency. To meet the net-zero emission targets and limit the worst impacts of climate change, a sprint is absolutely essential, says the Paris-based IEA, the energy watchdog for the Organization for Economic Co-operation and Development (OECD). Reaching net-zero emissions will require a huge…

Asia offers huge payoff for Canadian LNG producers

Anti-gas advocates who claim otherwise are daft

Asia offers huge payoff for Canadian LNG producersBy Mark Milke and Ven Venkatachalam Canadian Energy Centre If you’ve heard that Canada should skip plans to export natural gas to Asia, including from a few anti-oil-and-gas academics, you’ll notice one theme pops up: how Canadian firms really shouldn’t waste their time because there’s no money in it. This reasoning is daft. If there…
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