Many people ask me, “Why doesn’t Saudi Arabia cut production to help boost prices?” I almost always pause, knowing there isn’t a quick black-and-white answer. So hedging my knowledge, I reply, “While anything is possible, the likelihood of a cut […]
Canadians have spoken for change. After nearly ten years of Conservative rule under Alberta’s Stephen Harper, Canadians voted in a majority rule Liberal government last night, headed by Justin Trudeau.
Bleak metrics to describe the oil price downturn are easy to come by. For instance: the oil price is down almost fifty percent from last year, and drilling rates in Western Canada are about half of last year’s levels.
Although there is wide disagreement on the future price of oil, there are some facts that almost everyone can agree on. First, that oil is an essential commodity (validated by the 94 million barrels of oil consumed in the world […]
Despite the weak oil price, Canada’s oil sands will keep expanding. The milestones announced in today’s news demonstrate that fact, with Surmont 2 producing first oil and the next phase of Sunrise starting steaming operations. But do not be fooled […]
The headlines say that we have seen this kind of collapse before. With the benchmark US oil price (WTI) nearing the $US 40/B floorboard, wide spread pessimism is taking root with a growing number of voices associating this downturn with […]
When a patient gets a diagnosis – such as high cholesterol – it is an early warning sign that they should take proactive measures to reduce the chances of getting a blockage. Likewise, the temporary crunch in Western Canada’s regional […]
Some used to call it Black Gold. Back in the good ‘ol days of John Wayne, crude oil gushing from a well was a thing of value. These days, neither the black stuff nor gold is worth much. Both commodities […]