The true cost of unreliable renewable energy

Longer days are coming! Cheaper solar power, not so much

The true cost of unreliable renewable energyWe are constantly being told that wind and solar power are really cheaper than fossil-fuel power if you tot up the true costs of using each type. These arguments have always been dubious on their merits, if not outright disingenuous. Yes, the wind is free and the sunshine is free, but nothing about capturing either…

China extending its reach in bid to control oil market

China is making strong strategic moves to secure its future oil needs

China extending its reach in bid to control oil marketChina – the world’s largest crude oil importer, second-largest oil consumer after the United States and the world's number 1 polluter – is increasingly leveraging its position of influence on the global energy chessboard. In a bid to tame rising oil prices last November, the United States spearheaded a co-ordinated release by major oil-consuming nations…

Fossil-fuel demand is set to surpass pre-pandemic levels

Oil markets breaking out of their long-term downward trend

Fossil-fuel demand is set to surpass pre-pandemic levelsDespite the Omicron variant of COVID-19 hitting the world badly, the Organization of Petroleum Exporting Countries and its allies in the expanded OPEC+ have confirmed the scheduled output increase of 400,000 barrels per day (bpd) for February. By now, OPEC+ countries have restarted about two-thirds of the production they halted in the early stages of…

Climate change may well trigger Arctic development

But not in the way you thought

Climate change may well trigger Arctic developmentFor two decades, it has been predicted that climate change will open up the Arctic to economic development, leading to a race for resources. The region is supposed to be more accessible due to climate change. But is that true? In reality, many of the impacts of climate change make shipping, transportation and infrastructure development…

Expect more oil price uncertainty in 2022

No one has a real handle on the market and its future direction

Expect more oil price uncertainty in 2022Despite the growing call for a cap on their consumption, fossil fuels are going nowhere. They will continue to drive our energy-driven civilization for the foreseeable future. Global oil demand is on the verge of reaching its pre-pandemic levels. As a result, oil markets posted their biggest gains since at least 2016 as 2021 wound…

Think the oil industry is dying? Think again

Lack of investment in the industry could lead to an energy crisis

Think the oil industry is dying? Think againLed by kingpin Saudi Arabia, oil-producing nations are gaining confidence and delivering a message: the oil era is far from over. Last week, Saudi Petroleum Minister Prince Abdulaziz bin Salman warned that global oil production could drop by a massive 30 million barrels per day (bpd) by 2030. That’s around 30 per cent of the…

Consuming nations are gaining the upper hand in oil markets

Major oil-consuming nations seem to have gained some leverage in a market full of uncertainties

Consuming nations are gaining the upper hand in oil marketsAs 2021 winds down, oil markets face uncertainties. Omicron has begun to change crude demand perceptions. Economies – especially in Europe – are beginning to stutter, and Canada is also under pressure, with increasing restrictions in place. All this will impact crude oil consumption in the months to come. There’s no unanimity among experts on…

Hydrogen hype defies reality: it’s an impractical energy source

Dreams of a hydrogen future just another energy scheme to extract money from gullible governments

Hydrogen hype defies reality: it’s an impractical energy sourceOnce again, the world staged ClimateFest 26, aka the United Nations Conference of the Parties, where peddlers of alternative energy schemes try to plunge their dippers into the river of climate change funding that flows around the world. This funding is generated by governmental pledges cadged out of economically developed countries at prior COPs. One…

Mentorship program puts U of A grads on path to careers in energy sector

A recent PhD grad and a mentor talk about the mutual benefits of mentorship

Mentorship program puts U of A grads on path to careers in energy sectorWhen the time comes to settle on a career, there’s plenty out there for University of Alberta graduates skilled in the wide-ranging field of energy: jobs in research, government, industry and startups, to name a few. But how to decide? One tried and true way is to talk to somebody who’s already out there –…

Oil investment decline is leading to an energy crisis

The current European/Asian energy crisis is a preview of what we can all expect in the years ahead

Oil investment decline is leading to an energy crisisIndustry and environmentalists are on a clash course. The 23rd World Petroleum Congress in Houston last week was enough to highlight the emerging trends, complexities and challenges faced by the oil and gas industry. The message from the industry was clear – a global oil scarcity is on the horizon. Underinvestment since oil prices began…
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