We have to beware tyrannies and autocracies that use oil and natural gas as weapons
By 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…
But the good old days are gone
A 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…
Ominous clouds continue to hang over the global oil horizon
Where 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…
In 2019, Canada recorded a 49% reduction in flaring from just five years earlier. And Canada is responsible for just 0.7% of worldwide
By Mark Milke and Ven Venkatachalam Canadian Energy Centre If you’ve spent time in Western Canada near an oil or gas well or refinery, you might have noticed a smokestack-like pipe with a flame at the top. Or you might have seen such a flame in pictures of refineries in Saudi Arabia, Nigeria, Texas, or…
Oil producers face catastrophe if countries worldwide move to limit global warming by two degrees Celsius
Crude 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,…
After two decades of political and managerial incompetence, Manitoba is on track to lose the province’s best economic advantage
Former Saskatchewan premier Brad Wall’s report on the Keeyask dam and Bipole III transmission line expansion is a damning verdict on Manitoba Hydro’s past boards and executives, and various Manitoba governments. While Wall’s public criticism concentrates on the NDP, there’s much room for the current Progressive Conservative government to share the blame. Premiers former and…
Governments are killing real jobs and conning us with claims of millions of good ‘green’ jobs. “Fool me once,” Stephen King wrote, “shame on you. Fool me twice, shame on me. Fool me three times, shame on both of us.” His adage certainly applies to the myth (and fake math) of green jobs. During the…
Fed up with the Saudi's "artificially jacking up the prices"
An oil war is brewing between the world’s largest crude exporter, Saudi Arabia, and the world’s third-largest crude consumer, India. India has long pleaded with Saudi Arabia to keep oil prices lower to help sustain economic growth in the developing and emerging economies of Asia. In rather hushed tones, for diplomatic reasons, India has protested…
With the continuing OPEC+ oil output cuts, markets were going into an overdrive mode. Prices at U.S. gas stations rose sharply
Surprising the markets and going against expectations, the Organization of Petroleum Exporting Countries and its allies in the extended OPEC+ changed course at their ministerial meeting last week. At the virtual meeting, OPEC+ opted to increase its output by 350,000 barrels per day (bpd) in May another 350,000 bpd in June, and roughly an additional…
Innovative research could provide a supply of renewable fuel
A potentially huge industrial project to create jet fuel from biowaste has received a $2.89-million funding boost from Natural Resources Canada. The investment, which includes $1.99 million in direct funding and $900,000 in in-kind contributions, will go toward setting up an advanced fuel-testing suite in lead researcher David Bressler’s lab and will also support the work of several…