The crude oil market is approaching its peak

And the rush to monetize crude oil assets is on

The crude oil market is approaching its peakThe halcyon days of crude oil are over. The reality of the transition is dawning on stakeholders. From the Organization of Petroleum Exporting Countries (OPEC) and Russia, to the major oil companies, all are beginning to recognize, appreciate and react to this changing global energy kaleidoscope. Russia was denying the reality. No more. “The peak…

OPEC+ fault lines growing deeper

OPEC+ fault lines growing deeperIt was a political decision, a compromise between the differing oil producers. Last Thursday, after extended deliberations, debate and heated arguments, the Organization of Petroleum Exporting Countries (OPEC) and its allies in the extended OPEC+ finally opted to increase their crude oil output by 500,000 barrels per day (bpd) from January 2021. And every month…

Atlantic Canada facing a political vulnerability

Fiscal federalism, the lifeblood of the region's economy, faces increasing pressure for reform, especially in the post-COVID-19 world

Atlantic Canada facing a political vulnerabilityMassive government spending has landed the four Atlantic provinces at the bottom of economic freedom rankings among the 10 provinces and 50 U.S. states, according to the new Economic Freedom of North America report. Newfoundland and Labrador and Prince Edward Island are tied at the bottom, just below Nova Scotia (58th) and New Brunswick (57th).…

How Atlantic Canada fortunes and oil and gas are intertwined

How Atlantic Canada fortunes and oil and gas are intertwinedBy Mark Milke and Ven Venkatachalam Canadian Energy Centre Atlantic Canada struggled to create good-paying jobs long before the COVID-19 pandemic. The multiple reasons include poor policy and high taxes on businesses and individuals. Poor policy reinforces other lousy policy, leading to a self-reinforcing downward economic spiral. For instance, previous governments formed policy forbidding fracking…

Financial quagmire engulfing oil-producing countries

The rush to monetize oil and gas assets gathers momentum as major debt problems rise for many oil-producing countries

Financial quagmire engulfing oil-producing countriesClimate change is at the top of U.S. president-elect Joe Biden’s priority list. By nominating a person of the stature of former secretary of state John Kerry as the special presidential envoy on climate change, Biden has spelled out his intentions. The message is getting loud and clear to stakeholders. Consequently, the rush to monetize…

OPEC faces an existential threat

The viability of OPEC as an effective organization is now in question

OPEC faces an existential threatGloom continues to cloud crude oil markets. With a COVID-19 vaccine unlikely to ride to the rescue of the global oil market for some time, the combination of weaker demand and rising oil supply provides a difficult backdrop to the meeting of the Organization of Petroleum Exporting Countries (OPEC) and their allies later this month,…

Why oil and gas are fundamental to Canada

The $493 billion in oil and gas revenues paid to governments since 2000 is more than family allowance and children’s benefits since 1970

Why oil and gas are fundamental to CanadaBy Mark Milke and Lennie Kaplan Canadian Energy Centre Humans are wired to respond to stories that paint a relatable picture of an issue at hand. And those stories are easier to remember. If we repeat a Rex Murphy story about how out-of-work cod fishery workers from Newfoundland saved their homes and marriages by moving…

It’s time to invest in Canada’s energy sector

Canada can supply oil and natural gas to world markets for decades, while driving down emissions and bolstering our economic recovery

It’s time to invest in Canada’s energy sectorImagine a global $800-billion natural gas and oil investment market and the opportunity that represents for Canada. Canadians should be very interested in what it would mean for our country’s economic recovery if we market the strengths of our vast natural gas and oil industry, and capture an increasing share of those billions of investment…

Energy use forecasts pivot dramatically

Global energy players and major stakeholders are out with their keenly-awaited and immensely researched outlooks

Energy use forecasts pivot dramaticallyEnergy outlook season is here. And it’s not rosy. Global energy players and major stakeholders are out with their keenly-awaited and immensely researched outlooks. COVID-19 has turned 2020 into an unusual year, carrying long-term ramifications for the energy world. The Paris-based International Energy Agency has termed the pandemic a disruption not seen since the “world…