The impact of oil and natural gas is significant, whether it is for salaries, Indigenous jobs, or GDP
By Mark Milke and Ven Venkatachalam Canadian Energy Centre How much do the oil and natural gas industries contribute to British Columbia’s economy? One way to see the impact is to look at those of Indigenous ancestry. Their employment proportions across sectors and incomes reveals a lot about where the good-paying jobs are, and also…
A real game-changer for the energy economy, and the environment
The COVID-19 crisis has dominated most recent media coverage but environmental concerns remain. Friday for Future, the movement launched by Greta Thunberg, has come back to protest the federal government’s inaction on earlier green promises such as curbing greenhouse gas emissions. More and more, we’re seeing green activists fighting against industry and energy consumption. But…
The viability of OPEC as an effective organization is now in question
Gloom 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,…
International power politics employed by the likes of Russia have resulted in many countries looking for new energy sources
By Mark Milke and Ven Venkatachalam Canadian Energy Centre Russia cut off the natural gas supply to Ukraine in mid-winter 2009, ostensibly over a pricing dispute. It was a reminder that energy can be used as an economic and political weapon by autocratic regimes – in this instance, Vladimir Putin’s Russia. We have more recent…
The $493 billion in oil and gas revenues paid to governments since 2000 is more than family allowance and children’s benefits since 1970
By 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…
Canada can supply oil and natural gas to world markets for decades, while driving down emissions and bolstering our economic recovery
Imagine 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…
Crude oil demand is under the cloud. Not long ago, global demand was expected to peak around 110 million barrels per day (bpd). And in 2007, the Organization of Petroleum Exporting Countries (OPEC) forecast world demand for crude oil would reach even higher – 118 million bpd by 2030. But that was a different world.…
Much is at stake for the oil industry related to the outcome of the United States presidential election on Tuesday. What happens if President Donald Trump wins a second term? What happens if Joe Biden assumes the presidency? In his first term, Trump loosened methane rules and opened new offshore and Arctic areas to drilling.…
Less supportive policies and regulatory constraints has led to natural gas stagnation in Canada
By Mark Milke and Lennie Kaplan Canadian Energy Centre The United States has undergone an energy renaissance of sorts in recent years. After decades of importing significant volumes of natural gas, there has been a transformation in both the economy and policy on that source of energy in particular. Americans began to produce and export…
There is no carbon-free energy Valhalla. The environmental impacts of going ‘clean and green’ could be worse than using fossil fuels
By Jock Finlayson and Denise Mullen Business Council of B.C. We all go to the store to purchase things – groceries, clothing, tools or the latest electronic gadget. During the global pandemic, an increasing share of shopping has shifted online. A few clicks and an item soon arrives at our doorstep. We also often demand…