Activists like to trumpet the narrative that the world is rapidly transitioning away from fossil fuels, but the reality is different
An activist group called Oil Sands Divestment is trying to convince the British Columbia Investment Management Corp. (BCI) to get out of fossil fuels by the end of this year. The campaign says oil and gas is not a sound investment and that projects are increasingly “stranded assets.” Neither is true. Amid what the International…
The prospects of a global economic slowdown are beginning to hit oil demand
The much-awaited ministerial meeting of the Organization of Petroleum Exporting Countries and its allies, including Russia, in the expanded OPEC+, opted to increase its September output by just 100,000 barrels per day (bpd). Despite the urgings of U.S. President Joe Biden to open Saudi Arabia’s crude oil taps during his visit there, the announced output…
But building LNG infrastructure like long-haul pipelines in Canada is "challenging"
Canada’s potential to supply natural gas to Europe as liquefied natural gas (LNG) has gone from an afterthought to a critical part of the discussion on how to replace gas from Russia, according to analysts with Norway-based Rystad Energy. European countries are facing emergency measures to reduce energy use to ensure enough natural gas is…
After a brief lull and a price drop, crude oil markets are heating up again, surging by more than US$2 a barrel last week. The Aug. 3 expanded OPEC+ ministerial meeting, which includes Russia, is just around the corner. And signals from producing countries aren’t helping to stabilize the markets. In addition, the threat of…
Federal discussion paper outlines industry's value to Canadians
The federal government’s plan to cap and cut emissions from the oil and gas sector comes with big risks. Reducing the industry’s emissions by a massive 42 per cent in less than 10 years is seen as unrealistic without cutting production – while Canada’s allies and people around the world are in a growing crisis without enough oil…
An intense tug of war is being waged on the global crude horizon
Stakeholders continue to make interesting moves across the global energy chess board. Six days after U.S. President Joe Biden flew out of Saudi Arabia – without any public commitment from Riyadh to increase crude output significantly – Russian President Vladimir Putin and Saudi Crown Prince Mohammad bin Salman spoke by phone, underlining the importance of…
Biden wanted more crude, Mohammed bin Salman needed recognition. The visit served both purposes
What did United States President Joe Biden gain from a trip that took him to Saudi Arabia, the state he once promised to make into the pariah he said it deserved to be? What did Biden get from meeting with Saudi Crown Prince Mohammed bin Salman, whom he has avoided until now? In response to…
U.S. and Canada should work together to build new pipelines to strengthen North American energy security
Here’s an important message for U.S. President Joe Biden as he heads to Saudi Arabia tomorrow to ask the Organization of Petroleum Exporting Countries (OPEC) to increase oil production: he should be asking Canada instead. Canada’s oil producers have helped to free American consumers from the world’s oil dictators before and can do it again…
U.S. transport of LNG to Europe is surging in the wake of Russia’s invasion of Ukraine
Canadian natural gas is finding its way to global customers desperate for more LNG, but it’s not because of any export project on Canada’s coasts. Instead, the supply is taking off on ocean tankers as part of the mix from liquefied natural gas (LNG) terminals in the United States, according to Deloitte Canada. “It appears…
The driver of this bearish sentiment is an overly hawkish response by the Federal Reserve
Last week, the crude oil markets saw one of the most significant single-day price declines in history. Have the bulls retreated – perhaps for good? Tuesday’s oil price collapse could go down as one of the most memorable moments of the oil market’s tumultuous year, said Josh Owens in his piece for Oilprice.com. Although oil…
An activist group called Oil Sands Divestment is trying to convince the British Columbia Investment Management Corp. (BCI) to get out of fossil fuels by the end of this year. The campaign says oil and gas is not a sound investment and that projects are increasingly “stranded assets.” Neither is true. Amid what the International…
