According to Natural Resources Canada, at the end of 2018 Canada had 73 trillion cubic feet (tcf) of proven natural gas reserves
By Mark Milke and Lennie Kaplan Canadian Energy Centre In 2009, the eastern European country of Ukraine endured a twin lesson in geopolitics and energy security: Russia cut off its natural gas supply in mid-winter. Russia’s public reason was that it was engaged in a pricing dispute with Ukraine. In reality, it was an attempt…
Movement to reduce global emissions toward net-zero is still too slow
With the United Nations climate summit in Glasgow scheduled to open on Oct. 31, global powerhouses are coming up with their annual energy outlooks earlier than the customary November. With climate issues coming to the forefront at the COP26 summit, most of these reports and analyses are meant to help world leaders make decisions. But…
If aspirations and reality collide, always bet on reality
If you’ve been following international news lately, you’ll have noticed a new development. Europe and Asia are suddenly worried about energy. With winter coming, costs are soaring and there’s even concern about shortages that might trigger industrial shutdowns and endanger people’s ability to heat their homes. From an object of loathing and scorn, fossil fuels…
Decision to open the taps and let the markets surge comes just before UN Climate Change Conference
Rapid moves with long-term ramifications are being made on the global energy chessboard. Early last week, the Organization of Petroleum Exporting Countries and its allies in OPEC+ opted to stick to their original plan and gradually open the crude oil taps. After their Oct. 4 ministerial meeting, OPEC+ said it had “reconfirmed the production adjustment…
Its policies on renewable energy mean that dependence will only deepen
By Mark Milke and Lennie Kaplan Canadian Energy Centre One of the more bizarre developments in Europe in recent years has been the twin policy path in which fossil fuels are discouraged in favour of wind and solar energy, but deals are struck with autocracies such as Russia to import more fossil fuel via pipelines.…
What does another Trudeau win mean for Western Canadians? After all, the actual composition of the House of Commons changed little, and once again, the Liberals will need the support of either the NDP or the Bloc Quebecois to pass legislation. So, for the most part, we can expect a continuation of some programs, including…
We're deluded if we believe that the consequences will only be borne by workers in the oil and gas sector
Shortly before the election was called, the federal government launched an engagement process to determine how Canadians want to implement a 'Just Transition' to a net-zero carbon economy. To the government, this means developing supports for the oil and gas workers whose livelihoods are being impacted by domestic climate policies. A 'Just Transition Advisory Body'…
A global energy crunch could help propel prices above US$100 a barrel
All eyes are focused on the Organization of Petroleum Exporting Countries and its allies in OPEC+ as they meet today. With crude oil prices touching US$80 a barrel and prospects of hitting US$100 this winter looming large, markets are on edge. The market trajectory is virtually impossible to delineate. A global energy crunch could help…
Underpinning it all, like the safety net to a secure supply, will be fossil fuels
The kingdom of Queen Elizabeth I was humming along quite nicely when, around the mid-1500s, Her Majesty caught wind of an environmental crisis in the offing. The forests were disappearing. Wood was the first energy source and had been so for millenniums. But kilns of industry and hearths of homes had been eating up the…
Is Brent crude oil heading toward US$80 a barrel? If the market signals and the pundits are to be trusted, the bull run is on. Oil prices headed to a third straight week of gains on Friday. Brent futures rose 84 cents, or 1.1 per cent, to settle at US$78.09 a barrel, while U.S. West…
By Mark Milke and Lennie Kaplan Canadian Energy Centre In 2009, the eastern European country of Ukraine endured a twin lesson in geopolitics and energy security: Russia cut off its natural gas supply in mid-winter. Russia’s public reason was that it was engaged in a pricing dispute with Ukraine. In reality, it was an attempt…
