Rising demand and prices suggest an oil market resurgence

US$100 oil is a distinct possibility

Rising demand and prices suggest an oil market resurgenceThe world needs more oil. The Organization of Petroleum Exporting Countries (OPEC), Russia and American shale oil producers all need to up their output to keep the rising prices of the “super cycle,” as Saudi Energy Minister Prince Abdulaziz bin Salman called it, under control. Media reports say Prince Abdulaziz bin Salman told the Robin…

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…

Global corporate tax rate will hamstring economy

A global minimum corporate tax is a 20th-century solution imposed on the 21st-century, where the digital realm is disrupting taxation

Global corporate tax rate will hamstring economyWorld leaders should resist U.S. pressure to enact a global minimum corporate tax, despite a recent move by the G7 countries to adopt the plan. It would harm corporations, small companies, workers and consumers while discouraging investment and wealth creation. If anything, the world needs more competition for post-pandemic recovery. U.S. Treasury Secretary Janet Yellen’s…

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…

Canada’s crypto crackdown does a disservice to the market

Canada must emulate countries such as Liechtenstein and Malta, which adapted legislation in advance to attract crypto entrepreneurs

Canada’s crypto crackdown does a disservice to the marketThe Canadian cryptocurrency industry knew mainstream adoption would inevitably come with a regulatory load, especially after the 2019 collapse of the largest exchange at the time, QuadrigaCX. Participants, however, didn’t expect regulators to come with one of the most heavy-handed approaches possible. On March 29, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory…

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…

Is a new world order on the horizon for the energy sector?

The IEA lays out recommendations for what needs to happen, and when, to transform the global economy from one dominated by fossil fuels

Is a new world order on the horizon for the energy sector?The world must act quickly on climate change, says the International Energy Agency. To meet the net-zero emission targets and limit the worst impacts of climate change, a sprint is absolutely essential, says the Paris-based IEA, the energy watchdog for the Organization for Economic Co-operation and Development (OECD). Reaching net-zero emissions will require a huge…

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…

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,…

Canada must stand up to China now

The Chinese government wants to dominate all other nations, seeking submission on its terms. We must resist

Canada must stand up to China nowThe vote by Canada’s Parliament to declare the actions of the Chinese government a genocide against the Uyghur people highlights the growing discordance between Western democracies and the increasingly repressive and aggressive Chinese regime. The Chinese government also engages in cultural repression, surveillance or discrimination against its Tibetan, Mongolian and Korean minorities. China has benefited…
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