Ukraine war shook up markets, but much stays the same for Canadian oil and gas
CALGARY — When Russian tanks and troops rolled into Ukraine one year ago, it was no shock that crude prices spiked above US$100 per barrel for the first time since 2014.
With Russia controlling 10 per cent of the world’s crude oil supply, many observers in the early days of the conflict predicted the war and Western sanctions against Russia could disrupt energy markets for years to come.
German energy boss warns: Don’t let guard down on gas supply
BONN, Germany (AP) — The temperature outside Klaus Mueller’s office almost resembles spring, exactly the kind of mild weather that helped Germany get through the winter without Russian natural gas.
But Germany’s chief utility regulator is not ready to sound the all clear on an energy crisis spawned by the war in Ukraine, even with natural gas reserves abundant and prices well down from their peak.
Too much could go wrong — especially if consumers and companies grow weary of the conservation habits they learned during a winter fraught with fear of rolling blackouts and rationing, Mueller, head of the Federal Network Agency, said in an interview Wednesday with The Associated Press.
Record oil profits ‘enough to make you ball up your fists,’ says N.L. minister
After handing oil companies more than $280 million in cash during the COVID-19 pandemic, Newfoundland and Labrador’s energy minister says it’s tough to watch those same companies rake in record-shattering profits.
Andrew Parsons took on the energy portfolio in August 2020, about a month before crashing global oil prices prompted Husky Energy — which has since merged with Cenovus — to announce it was considering abandoning its oilfield off the province’s east coast. On Thursday, Cenovus reported 2022 revenue of $11.4-billion — nearly double its revenue for 2021.
Alberta wind generation falls to 0.3% capacity at supper on Thursday, battery output 0.09% over 30 days
The chant for this weekend’s Telemiracle telethon in Saskatchewan is “Where are we going? Higher!” But when it came to wind power production in Alberta on Feb. 23, then answer to “Where are we going?” was “Lower!”
As the afternoon led into the supper hour, wind power generation had collapsed across the entire province, floating between 11 and 20 megawatts throughout the 5 o’clock hour. This occurred just as the sun was setting over the Rockies, as solar power production had dropped to 34 megawatts out of a nameplate capacity of 1,165 megawatts. As always it happens every night, it would drop to zero.
Judge grants motion by state of Michigan to appeal key decision in Line 5 dispute
By James McCarten in Washington The U.S. judge presiding over Michigan's bid to shut down the Line 5 pipeline has given her blessing to the state to appeal one of her key findings, breathing new life into a strategy that hinges on getting the dispute heard by a...
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