Headlines like Yes, oil is dead. Just read the writing on the wall. , The coronavirus pandemic may have one silver lining: the potential collapse of big oil. and Green Party declares that “oil is dead” are not only misleading and inaccurate, but also dangerous. Unfortunately, these types of headlines are always from those in the first world. Often with the best of intentions (though not always), they look around their regional environments and see decreased consumption. They then…
Few people can envision a world with a greater economic shutdown than what we have seen in the COVID-19 Pandemic. The bright side of this unprecedented collapse is the world has seen skies over industrialized cities cleaned up to a degree many thought impossible. It is an undeniable fact that COVID19 shutdown has shown us what is possible and that is the problem. COVID19 Pandemic Cleared the Air On the up side take a look at this excellent two minute…
I recently had the opportunity to watch “Michael Moore Presents Planet of the Humans” and while I expected it was going to be about how the math of some forms of “green” energy just doesn’t add up environmentally, it turned out to be something completely different. Where is the Energy Fairy? It turns out that there is no energy fairy. The green Illuminati does seem to have convinced the green masses that they have to wait for a magical energy…
As someone that works in Alberta’s oil and gas exploration industry that was just notified his company is pulling out of Canada before the end of 2020, I can understand how government bailouts and price controls are initially appealing to many. However, both price controls and bailouts significantly distort markets, causing all of us unnecessary pain. WHAT’S WRONG WITH GOVERNMENT BAILOUTS? Much more importantly bailouts encourage companies to take risks or fail to plan for the future so they can…
Shale oil has been driven by investors with few places to put their money deciding that oil US and Canadian oil plays MIGHT work out. The fracking revolution (a.k.a the Shale Revolution) never made financial sense and investors started fleeing the business in 2019. By 2020 once booming areas like the Permian (under Texas and Oklahoma) have proven to be losers. If it takes $10 million and 2 years to get $8 million dollars in return, investors are not happy.…
After 50 years of serious oil and gas expansion it is time to rethink the options for Alberta’s economy. In every downturn, large or small, there is talk of “Western diversification” but nothing much seens to change. This time, it needs to be different. Is Calgary or even Edmonton as dependent on oil and gas as it was in the 1980’s and 1990’s? Definitely not, but if oil and gas jobs were cut in half those economies would collapse and…
We have seen gasoline prices plummet to as low as USD$1.29/gallon in the United States and CDN$0.58/liter in Canada. We knew that: the United States became the worlds largest producer of oil a few years ago thanks largely to the fracking revolution, and Russia and Saudi Arabia were quickly expanding production but we didn’t really have a grasp on scale. How big is the global oil market and where major oil producing countries like Canada, Iraq, Mexico and Venezuela lie…
We have received several comments from readers and friends saying that they expect gas prices to stay at this historical low rates because COVID-19 (see our new videos: How COVID Ends and COVID vs Spanish Flu vs SARs vs MERS) will likely drag out low demand for many months or even years. In Calgary you can buy gasoline at just $.58/liter and in New York, you can get it for as low as $1.69/ gallon! It is common sense the…
David Book, Managing Director of Clearview Energy Partners, does an excellent job of crystallizing the known issues and outcomes for the oil and gas industry over the next few years. Topics include: COVID-19 Trump Reelection Russia’s Tax Structure Saudi Pools of Cash De-Globalization Innovation .
With all the talk of Indigenous rights being trampled on by governments and big oil, you are probably not surprised by the blockades that have poped up, reportedly in support of the Wet’suwet’en. The problem is, the Wet’suwet’en Chiefs DO support Coastal GasLink. “What?!?!” you say, “How can this be? I have seen Wet’suwet’en Chiefs saying they have not been consulted and do not approve” Well, it turns out that the “Chiefs” you see on TV really aren’t Chief’s in…
If you want to understand why Alberta is different, just watch this video. We have attended many similar meeting in other Provinces over the years and seldom seen such thoughtful, calm, and well argued positions by members of the general public. If you don’t have time to watch the full 20 minute highlight reel, we urge you to watch these four excellent segments that are each about 90 seconds long: Marnie Marr Accountant from Airdrie explains the Alberta experience from…
In this stunning announcement Microsoft President Brad Smith said his company will: Consume only renewable energy by 2025 Will CAPTURE as much CO2 carbon as Microsoft AND ITS SUPPLIERS have put into the environment since its founding in 1975 Will require vendors to be increasingly carbon neutral Will fund investments in other companies and organizations, often in third world countries, to accelerate the migration to clean energy This makes Microsoft, which already gets two thirds of energy needs from renewables,…
Much is made of the auto sector in both the US and Canada. It is thought of as the manufacturing heart of both countries and is fundamental to the ongoing success of the economy. On the flip side of that, the oil and gas energy industry is socially and politically considered far less important. The energy industry is seen almost as a utility; something that is always there and does not require much attention whereas the auto industry is perceived…
To someone living in the US or Canada, it probably appears that the whole world wants to shut down the oil and gas energy industry, but a slightly closer look shows nothing is further from the truth. Western energy is correctly considered the both the saviour of the third world and the environment. Rex Murphy recently interviewed Modern Resources CEO Chris Slubicki in a deep dive into the how oil and gas from the western world, specifically, Canada, the US…
Canada is a group of diverse territories held together with a brilliant formula that effectively transfers money from wealthy Provinces to poor Provinces, or so the story goes. The official name is ‘Equalization Payments’ and they are a core building block of Canadian confederation. For the first 75 years of Canada’s existence the money was transferred largely at the whim of the Federal Government but in 1957 a formal equalization formula was agreed upon. Unfortunately, the formula that is used…
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