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…

Sugar-coating a sugar tax won’t make it any more palatable

If Newfoundland and Labrador pursues a sugar tax, it’s certainly not to get its people to lead healthier lives. It’s about paying bills

Sugar-coating a sugar tax won’t make it any more palatableIn its recent budget, the Newfoundland and Labrador government announced it will introduce a tax of 20 cents per litre on sugary drinks, starting on April 1, 2022. This a first in Canada. So far we know very little about how the tax would work, which products would be affected and how revenues from the…

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…

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…

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…

Atlantic Canada won’t prosper until it kicks the equalization habit

Taxpayers from so-called have provinces can no longer afford to subsidize the Atlantic provinces

Atlantic Canada won’t prosper until it kicks the equalization habitFor many years, there has been debate about equalization and other transfer programs and their impact on Atlantic Canada and other regions. Much of this discussion has been technical and difficult to follow. The debate has also been misleading because it focused on equalization even though equalization is only about a quarter of the net…

Oil producers prepare for one last profit push

But the good old days are gone

Oil producers prepare for one last profit pushA new reality is dawning: the short-term direction of oil markets is in sharp contrast to its longer-term trajectory. The short-term outlook – courtesy of the decision by the Organization of Petroleum Exporting Countries and their allies in OPEC+ to withhold some eight million barrels per day (bpd) from the markets – and the emerging…

No major relief in sight for oil markets

Ominous clouds continue to hang over the global oil horizon

No major relief in sight for oil marketsWhere will world oil markets be in a year? With so many variables impacting the markets, no one has the crystal ball to see the crude oil price trajectory a year ahead. On April 20, 2020, panic had gripped the energy market as a frightening realization dawned on oil traders: The world was rapidly running…

Why oil-producing nations are rushing to ramp up production

Oil producers face catastrophe if countries worldwide move to limit global warming by two degrees Celsius

Why oil-producing nations are rushing to ramp up productionCrude oil demand is weak and the fundamental factors aren’t encouraging. Yet, most major oil-producing countries are moving to boost their output levels in the short run. Why? Saudi Arabia is pursuing plans to develop major offshore expansion projects to add an extra 1.15 million barrels per day (bpd) to its oil capacity by 2024,…

Harnessing Newfoundland and Labrador’s vast mineral potential

The province appeals to mining investors because it’s able to match its relatively strong endowment with competitive policies

Harnessing Newfoundland and Labrador’s vast mineral potentialBy Jairo Yunis and Alex Whalen The Fraser Institute As Newfoundland and Labrador deals with the effects of COVID-19 and recession, good news economic stories appear to be in short supply. However, a recent survey of investors sheds light on the province’s mining potential. Mining plays an important role in the province’s economy and the…

Canadian oil still the safest bet for Americans

Canada was the only free-country supplier of foreign crude oil to the U.S. between 1993 and 2020

Canadian oil still the safest bet for AmericansBy Mark Milke and Lennie Kaplan Canadian Energy Centre Imagine you’re in Germany and wonder if it’s a good idea to rely so heavily on natural gas imports from Russia, where the governing regime is accused by German politicians of killing journalists and the attempted murder of Russian opposition leader Alexei Navalny. German Chancellor Angela…
1 2 3 8