More world oil and gas investment desperately needed, report warns

Increasing spending does not contradict efforts to reduce emissions, says IEF

More world oil and gas investment desperately needed, report warnsWorld energy markets are facing a “red alert,” and there’s more trouble ahead without enough investment going into oil and gas to meet demand, according to a new report by the International Energy Forum (IEF). “At a time when the global energy crisis calls for more supply, underinvestment in hydrocarbons will be the main reason…

No sign of major crude oil price decline any time soon

Bullish pressure on crude oil markets doesn’t seem to be easing

No sign of major crude oil price decline any time soonCrude oil prices fell last week, notching their second weekly decline in the face of concern that rising interest rates could push the global economy into recession. Yet the future of crude oil still seems bullish to many. Spare capacity, or lack of it, is just one of the reasons. The global surplus of crude…

Canadian energy sector has been down, but will never be out

Global Energy Show signals Canada’s oil and gas recovery and strong future

Canadian energy sector has been down, but will never be outA clear signal that Alberta’s oil and gas industry is alive and kicking was Calgary’s Global Energy Show held June 6 to 8. Last held in 2019, this important annual event was one of the many casualties of the COVID-19 pandemic in 2020 and 2021. Originally called the National Petroleum Show when it was started…

Energy doesn’t have to be a political weapon

Canada can be the solution as the world looks for reliable energy while maintaining GHG targets

Energy doesn’t have to be a political weaponCanada and its partners in the G7 are calling on OPEC for solutions to the growing energy security crisis they say is a “grave concern” for households – particularly low-income households – around the world. The G7 is made up of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. It’s asking Organization…

The world’s remarkable reversal on the future of oil

The industry is hesitant to invest in production after years of disdain from politicians and environmental radicals

The world’s remarkable reversal on the future of oilThe love/hate relationship between oil companies and the world’s billions of customers is unique in the world of commerce. Until recently, the plan was to replace oil and gas with no workable plan to replace their products. Now people want more oil and gas production as quickly as possible. But not from Russia. This stunning…

Canada is nowhere near to facing its climate deficit

Approving new fossil fuel projects is moral and economic madness

Canada is nowhere near to facing its climate deficitAfter approving the Bay du Nord offshore oil project off Newfoundland and Labrador in April, the Canadian government has decided to take our climate risk-taking to a whole new level by issuing a Call for Bids for oil exploration for an area one third larger than the size of New Brunswick. Bids to drill for…

A subsidy by any other name: The problem with Bay du Nord’s royalties

The potential cost is hundreds of millions of dollars in royalties that must be paid

A subsidy by any other name: The problem with Bay du Nord’s royaltiesTwo weeks after Bay du Nord received environmental approval, the Canadian and Newfoundland and Labrador governments were arguing about who would foot the bill. The project promoted as the answer to Newfoundland and Labrador’s economic woes could end up costing hundreds of millions in revenue. Some backstory: according to the United Nations Convention on the…

The global energy map faces dramatic revisions

Putin's war on Ukraine has changed everything

The global energy map faces dramatic revisionsEnergy security is back on the global agenda. Not long ago, energy security was almost taken for granted by all. With the emergence of new energy frontiers over the last decade and a half – including shale oil and gas and the growing emphasis on renewables in the Americas – it was felt that energy…

Canada’s oil and gas workers don’t need a forced ‘just transition’

The sector will be critical to Canada, and the world, for decades to come

Canada’s oil and gas workers don’t need a forced ‘just transition’The idea of the need for a “just transition” for Canadian oil and gas workers is based on the false narrative that global demand is now decreasing and, therefore, Canada’s industry will no longer be profitable or essential in the very near future. This is not true. Oil and gas will continue to be critical…

Newfoundland and Labrador can grow as a trusted oil supplier to Europe

Already a steady supplier and can grow significantly if major projects get the go-ahead

Newfoundland and Labrador can grow as a trusted oil supplier to EuropeEurope needs new suppliers to get off Russian oil and maintain energy security in the long term. Newfoundland and Labrador’s offshore oil industry is already a steady supplier and can grow significantly if major projects get the go-ahead. “We have the potential certainly to be producing more,” says Paul Barnes, Atlantic Canada and Arctic director…

Will oil prices stall or continue to rise?

The relief we’re seeing from market manipulation could fade soon

Will oil prices stall or continue to rise?Bearish sentiments continue to overshadow the crude oil markets. Despite a small spike at the tail end, prices registered a back-to-back retreat last week. Several factors are in play. The announcement of the release of 180 million barrels of crude from the United States Strategic Petroleum Reserves (SPR) over the next six months played a…

Western Canada continues to get shafted by Trudeau

Oil tankers off West coast are bad but drilling for oil off Newfoundland's coast is OK

Western Canada continues to get shafted by TrudeauWe all know politics is the art of the possible. Perfection isn’t for the real world. We aren’t surprised when tradeoffs and the occasional compromise creep into government policies. Nor do we require elected members of government, even at the ministerial level, to be experts in their portfolio areas, although we expect them to avail…

Canada’s energy strategy defies stark global realities

Western leaders are acting in ways that make your cringe: It's like watching an out-of-control teen at their first party

Canada’s energy strategy defies stark global realitiesPeople have been asking for my thoughts on the recently announced federal climate plan. I shrug. I ask them what their thoughts are on the Iowa State Fair Hog Calling Regulations. I’m indifferent. I know I should care, but what’s the point? The feds throw something at us; we have to work with it. We…

WEBINAR: Balancing energy, environment and the economy

Today's guest, David Parker, discusses among other things, the importance of aligning political will, the truth and the public

The series was produced by KEI Network for Troy Media. We welcome your comments below. Bios of our moderator and today’s guest: Eric Newell Moderator Eric Newell’s career began with Imperial Oil and Esso, where his skills as an engineer and manager made him a valuable asset. He was frequently sent “on loan” to sites…

Federal oil and gas emissions plan will hurt Canadians 

Canada is the solution to reliable, affordable, responsible energy security

Federal oil and gas emissions plan will hurt Canadians The federal government’s plan to require a 42 per cent reduction in emissions from Canada’s oil and gas sector by 2030 is based on assumptions divorced from reality and will ultimately hurt Canadians. Setting aggressive targets to cap and reduce the sector’s pollution – while no other major producing nation does the same – is…
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