Increasing spending does not contradict efforts to reduce emissions, says IEF
World 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…
Bullish pressure on crude oil markets doesn’t seem to be easing
Crude 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…
Global Energy Show signals Canada’s oil and gas recovery and strong future
A 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…
Canada can be the solution as the world looks for reliable energy while maintaining GHG targets
Canada 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 industry is hesitant to invest in production after years of disdain from politicians and environmental radicals
The 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…
Approving new fossil fuel projects is moral and economic madness
After 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…
The potential cost is hundreds of millions of dollars in royalties that must be paid
Two 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…
Putin's war on Ukraine has changed everything
Energy 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…
The sector will be critical to Canada, and the world, for decades to come
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…
Already a steady supplier and can grow significantly if major projects get the go-ahead
Europe 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…
The relief we’re seeing from market manipulation could fade soon
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…
Oil tankers off West coast are bad but drilling for oil off Newfoundland's coast is OK
We 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…
Western leaders are acting in ways that make your cringe: It's like watching an out-of-control teen at their first party
People 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…
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…Canada is the solution to reliable, affordable, responsible energy security
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…