But how long will the bull run last?
With the Brent crude oil price touching $65 last week, markets have entered the hot zone. Inclement weather, the resultant rising demand for heating, a dip in United States output and the unilateral Saudi output cut all helped to tighten the markets, contributing to the bull run. Parts of the U.S. have been in a…
2021 perfect opportunity for the feds to demonstrate its commitment to a sector critical to the Canadian prosperity
If only the federal government would put its full force behind the energy sector, as it does other critical sectors in the economy. In early October, Prime Minister Justin Trudeau announced he wouldn’t back down from the latest American round of attacks on Canada’s softwood lumber industry. Then, the federal government announced it would pursue…
By every measure, Canada is a beacon of civil, political and economic rights
By Mark Milke and Lennie Kaplan Canadian Energy Centre Over the past two years, three insurance companies from Europe – Axa, Zurich and Swiss Re – announced plans to stop insuring Canadian oil sands projects, and reduce or entirely eliminate investments in the oil and gas sector. The reason offered is the standard refrain: assumed…
Some observers see prices moving even higher as refiners increase processing rates to meet rising product demand
Oil extended its longest winning streak in two years last week. Crude oil prices climbed more than nine per cent, as the Organization of Petroleum Exporting Countries and its allies in OPEC+ curbed supplies, depleting global oil inventories. A United States government report also indicated that U.S. domestic oil stockpiles have fallen by 6.6 million…
More than 70 years of Alberta prosperity could be in jeopardy. And the continued fixation and dependence on fossil fuels could bring disaster
Lack of diversification is a risky invitation to investment disaster. Very few institutional, corporate or individual investors would put their total net worth into one sector. Yet that’s just what Alberta, Newfoundland and Labrador, and Saskatchewan have done. The economies of these provinces are heavily dependent on the fortunes of the petroleum industry. Corporate and…
A vocal minority opposed to resource development damaging our prosperity
By Mark Milke and Lennie Kaplan Canadian Energy Centre Oil and natural gas pipelines are like light switches on the wall. You take them for granted, along with the expectation that once flipped, your lights will come on. In normal company and normal times, few people would discuss over dinner something as arcane as tubes…
Environmentalists only support Indigenous peoples when the First Nations and Métis agree with them
Much as opponents of Canadian oil and gas production hate to admit it, the future of the industry appears to be set. Construction on the Coastal GasLink pipeline to Kitimat, B.C., continues. Work on the Trans Mountain pipeline is well advanced. The Canadian portion of Enbridge’s Line 3 is essentially finished. Protests killed the Northern…
Crude oil markets firmed up in the last week to levels not seen in almost a year. Does that indicate a real change in direction or is it just a passing phase? In sharp contrast to its January meeting, the virtual ministerial meeting of the Organization of Petroleum Exporting Countries and its allies in OPEC+…
The world sped ahead getting LNG online but Canada stalled, meaning lost revenue and missed environmental opportunity
By Mark Milke and Ven Venkatachalam Canadian Energy Centre Over the past several years, a plethora of naysayers have reflexively opposed the extraction and export of natural gas from Canada. Some critics have even argued that the prices for liquefied natural gas (LNG) shouldn’t warrant investment by Canadian companies. Much of this anti-LNG sentiment has…
Smart meters remove the need for someone to travel to homes to read meters, enabling customers to avoid costs and maintain distance
Few practical measures have been presented to achieve the lofty goals laid out in Prime Minister Justin Trudeau’s green agenda or the United Nations 2030 Sustainable Development Agenda. Gender equality, increased daycare spending and reduced fossil-fuel usage might make for pretty speeches, but they do little to boost economic growth or help struggling Canadians. Genuine,…