David Yager: Canada increases domestic energy costs while co-operating to reduce prices globally
If you’re confused by 21st century energy geopolitics, it’s not your fault.
The Russia/Ukraine war, EU’s economic crisis, global energy prices, rising inflation and interest rates, and the G7/EU price cap on Russian oil exports announced December 5 have created daunting challenges for international politics and diplomacy.
The most recent solution is one whereby G7 member Canada has helped make oil cheaper for the world without relaxing existing commitments to increase Canadian energy costs through carbon taxes, emissions caps, and the Clean Fuel Regulations.
Canada considering if critical mineral exports to China should be limited: Wilkinson
Natural Resources Minister Jonathan Wilkinson said the new critical minerals strategy published Friday doesn’t specifically bar Canadian mines from exporting critical minerals and metals to countries like China.
Nor will it prevent companies from taking advantage of any of the $3.8 billion in promised investments if they intend to ship the metals produced to non-democratic countries.
But Wilkinson said the federal government is looking at whether new policies are needed to limit where Canadian critical minerals can be exported.
CAOEC state of the industry: Finally, a recognition of energy security
This is a recording of CAOEC’s 2022 State of the Industry with address from Canadian Association of Energy Contractors (CAOEC) president & CEO Mark Scholz, and keynote speech by Danielle Smith, Premier of Alberta.
China’s Xi vows to buy more Mideast oil as US focus wanes
DUBAI, United Arab Emirates (AP) — Chinese leader Xi Jinping vowed on Friday to import more oil and natural gas from energy-rich Gulf Arab states while not interfering in their affairs, likely seeking to cast Beijing in a more favorable light than Washington as America’s attention in the region wanes.
Xi also urged the Arab countries to conduct energy sales in the Chinese yuan, potentially divorcing the U.S. dollar from transactions in a region where the United States still stations thousands of troops across a network of local bases as a hedge against Iran.
Crescent Point to acquire Kaybob Duvernay drilling assets from Paramount Resources
Crescent Point Energy Corp. says it has signed an agreement with Paramount Resources Ltd. to acquire additional Kaybob Duvernay assets for $375 million.
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UPDATED: TC Energy shuts down Keystone pipeline system after leak in Kansas
TC Energy Corp. has estimated the volume of oil released in Wednesday's Keystone pipeline leak at 14,000 barrels, making this most recent spill larger than Keystone's 2017 and 2019 leaks combined. The update comes one day after TC Energy announced it had...
TC Energy shuts down Keystone pipeline system after leak in Kansas
The size and scope of the oil spill caused by the Keystone pipeline Wednesday remains unknown, but analysts say Canadian crude could suffer a significant price impact if the pipeline is shut down for more than a few days.
Pipeline operator TC Energy Corp. said Wednesday evening that it had mobilized people and equipment in response to a confirmed release of oil into a creek in Washington County, Kan., about 32 kilometres south of Steele City, Neb.
The system remained shut down Thursday morning, as crews respond and work to contain and recover the oil that was spilled.
Brian Zinchuk on Gormley: Oil prices, lithium, subsidies, brief to Parliament
On Wednesday, Dec. 6, Pipeline Online editor and owner Brian Zinchuk appeared in his regular monthly discussion with John Gormley on CJME/CJOM. Discussion points included falling oil prices, lithium development in Saskatchewan, subsidies to the industry and a brief to Parliament.
US to boost natural gas exports to UK in energy partnership
WASHINGTON (AP) — The United States will increase exports of liquefied natural gas to Britain under a new agreement calling for the two countries to work together to boost energy security and drive down prices following Russia’s invasion of Ukraine.
President Joe Biden and British Prime Minister Rishi Sunak announced the agreement Wednesday as part of a larger effort to reduce global dependence on Russian energy exports, stabilize Western energy markets and step up collaboration on energy efficiency, nuclear power and renewables. The U.K.-U.S. Energy Security and Affordability Partnership will be steered by a new group led by senior British and White House officials.
Op-Ed: TC Energy CEO François Poirier publishes statement on solving the global energy crisis
First, sustainable energy policy must focus on addition rather than subtraction.
A small but vocal class of policymakers and interest groups demand we use regulation to rapidly choke the supply of natural gas to coerce the development of lower emitting alternatives. This concept ignores the real-world consequences.
Traditional energy sources are critical to keeping pace with increasing demand. Even using the most optimistic estimates for the growth of renewable energy, blocking the development of traditional energy projects will lead to disruptive energy shortages and soaring costs across North America.
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All war risk is gone from oil markets as prices are at lowest level in nearly a year for WTI, and nearly 2 years for WCS.
If you haven’t been paying attention to oil markets, now might be the time, as significant benchmarks have hit their lowest point in nearly year for WTI, and nearly two years for WCS.
These numbers also mean that all geopolitical risk from the Ukraine war have been eliminated from the market, despite the war being nowhere close to over, and Russia under significant sanctions for oil and gas export.
Sask. drilling rig count down to 29, with just one rig working in southwest Saskatchewan on Dec. 6
ESTEVAN – Drilling activity in southwest and west central Saskatchewan are both markedly down in the first week of December, according to Canadian Association of Energy Contractors (CAOEC) data published by RiggerTalk.com.
Both wind and solar are producing next to no power in Alberta at noon on Tuesday
One, singular, soon-to-be-converted coal unit was producing three times more power than 36 wind farms and 29 solar facilities, combined.
Trudeau, Ford mark opening of Canada’s first full-scale electric vehicle plant
INGERSOLL, ON. – Canada’s first full-scale electric vehicle manufacturing plant officially opened in southern Ontario on Monday, with the prime minister and the province’s premier saying the launch of the facility marked a national milestone.
Prime Minister Justin Trudeau said electric delivery vans started rolling off the line earlier in the day at the General Motors CAMI production plant in Ingersoll, Ont., that was retooled to build the company’s BrightDrop all-electric vehicles.
Canada ‘watching closely’ as Biden pressed to fix Inflation Reduction Act ‘glitches’
Prime Minister Justin Trudeau said Monday that Canada will be “watching closely” as the United States responds to complaints from Europe about the North American protectionism built into President Joe Biden’s signature climate change initiative.
Biden received an earful from French President Emmanuel Macron about “super aggressive” climate incentives in the Inflation Reduction Act — incentives that favour manufacturers in Canada and Mexico, as well as the U.S.
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Saskatchewan Revenue Agency Act introduced, meaning two tax filings for business
As a business owner, do you prefer dealing with one tax agency, or two? Because you are soon likely to find out.
As part of its push to establish more autonomy from the federal government, on Dec. 5 the Government of Saskatchewan introduced Bill-122, The Saskatchewan Revenue Agency Act. It is aimed at establishing a new agency to pursue greater autonomy in tax collection.
Brad Wall’s speech at his “public hanging,” to use his words, as official portrait is unveiled at Legislature
“There is perhaps no better time for intentional reflection than at your own public hanging. I will ever be grateful for having the very unlikely opportunity to serve this province that I love. Thank you, Saskatchewan,” said former Premier Brad Wall in social media posts sharing this video of his speech at the event.
Quick Dick McDick: Bill C-21 The Hunting Rifle Ban
Short and sweet, Quick Dick McDick talks about the Trudeau government hunting rifle ban and its absurdities. Methinks he’s holding back a bit here, because a couple minutes surely isn’t all he has to day. But he says it pretty clearly. Check it out.
Outgoing CEO Al Monaco says Enbridge ‘poster child’ for an orderly energy transition
Monaco calls Northern Gateway “the best project that we couldn’t do.” But he says Canada’s energy sector emerged from that battle, and those related to other cancelled projects such as TC Energy’s Energy East and Keystone XL, stronger and wiser.
“Things became very polarized in that time frame, and I think it was a real wake-up call for the industry in general,” he said.
Pipeline Online brief to House of Commons Natural Resources Committee on “Federal Assistance for Various Natural Resources Industries”
In late November Pipeline Online was approached by a member of the House of Commons Natural Resources Committee to submit a brief to that committee on the subject of “Federal Assistance for Various Natural Resources Industries.”
This is that brief, submitted on Nov. 25, by editor and owner Brian Zinchuk.
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No OPEC+ oil shakeup as Russian price cap stirs uncertainty
FRANKFURT, Germany (AP) — The Saudi-led OPEC oil cartel and allied producers including Russia did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market.
The decision at a meeting of oil ministers Sunday comes a day ahead of the planned start of two measures aimed at hitting Russia’s oil earnings in response to its invasion of Ukraine. Those are: a European Union boycott of most Russian oil and a price cap of $60 per barrel on Russian exports imposed by the EU and the Group of Seven democracies.
Parkland to double size of announced EV charging network in western Canada
Parkland Corp. is doubling the size of its previously announced electric vehicle charging network with a focus on British Columbia, which leads the country in EV adoption.
The Calgary-based fuel retailer said Friday it will now install 50 ultra-fast charging stations on highways and in major destinations from Vancouver Island to Calgary, instead of the previously announced 25.
EXPLAINER: What’s the effect of Russian oil price cap, ban?
FRANKFURT, Germany (AP) — Western governments have agreed to cap the price of Russia’s oil exports in an attempt to limit the fossil fuel earnings that support Moscow’s budget, its military and the invasion of Ukraine.
The cap is set to take effect Monday, the same day the European Union will impose a boycott on most Russian oil — its crude that is shipped by sea. The EU reached a deal for a $60-per-barrel threshold Friday, and the Group of Seven nations and Australia signed off on the deal later in the day.
Brian Zinchuk: Ding! Ding! Ding! Alarm bells should be ringing in Alberta as wind failure leads to second grid alert in three days. Saskatchewan should take notice
As evidenced twice this past week, the electrical grid can barely handle the demand we have, now, before we switch most of our transportation system to electric vehicles. What happens when half our cars and trucks are EVs? Then three-quarters? What happens when the wind doesn’t blow then? No one goes to work?
When will the other media take notice? When will they start to question this mad rush to wind and solar, and total adoption of electric vehicles? When will someone else in the Saskatchewan media declare “The emperor has no clothes?”
Elite Safety Services acquires Nobel HSSE Management LTD
OXBOW – Nobel HSSE Management Ltd. of Oxbow, Regina and Saskatoon has been purchased by Brandon-based Elite Safety Services.
That company specializes in rescue, safety and medic services, while Nobel focused on leader in occupational health, WCB management, medical and safety services.