Oil and Gas Sector-Politics and Image – Page 2

Potential for Canadian natural gas to help Europe move away from Russia: Wilkinson – by Ryan Tumilty (National Post – March 9, 2022)

March 11, 2022

We can’t be hostage to somebody who can blackmail us’: says Canada’s natural resources minister

OTTAWA – Federal natural resources minister Jonathan Wilkinson said his government is interested in helping Europe replace Russian natural gas and that shipping more natural gas to Europe would not contradict Canada’s climate goals.

Wilkinson said Vladimir Putin’s invasion of Ukraine is a wake-up call that the continent is far too reliant on Russian energy and in recent international meetings there is widespread desire for change.

Saudi Arabia Slams Shortsighted Campaign Against Oil – by Tsvetana Paraskova (Oil Price – Feb 22, 2022)

March 10, 2022

https://oilprice.com/

The world’s top oil exporter, Saudi Arabia, has repeatedly said it wants to be the producer that will pump the very last barrel of oil. Until that time comes, the world and its growing economy will still need oil and gas, even as renewable energy capacity soars globally.

The rebound of economies after the 2020 COVID slump has shown that global oil demand is not only not declining, but it is just months away from reaching pre-pandemic levels and exceeding them. This weekend, Saudi Arabia once again deplored the underinvestment in oil and gas and said that focusing only on renewables while campaigning against oil and gas was a mistake.

What Canadian policymakers can learn from Europe’s energy woes – by Eric Nuttall (Financial Post – March 1, 2022)

March 4, 2022

https://financialpost.com/

It should be obvious: the world needs more, not less, of Canada’s abundant and ethically produced energy

As a dad of three young kids, much of my non-working hours are spent trying to help them avoid self-inflicted injury. Fatherhood, it seems, has imbued me with the ability to foresee imminent potential doom such as head traumas and broken bones.

A key lesson I try to teach my kids is that while wisdom is often the result of experience, which is often the result of bad decisions, smart people try to learn from the mistakes of others rather than making the same mistakes themselves. Gain the wisdom, avoid the pain.

OPINION GUEST ESSAY: The West’s Delusion of Energy Independence – by Dennis C. Blair and Joseph F. Dunford Jr. (New York Times – February 22, 2022)

February 25, 2022

https://www.nytimes.com/

Russia’s belligerence against Ukraine is underscoring once again the inextricable link between national security and energy security. Today, Russia is flexing its energy dominance over a dependent Europe. But tomorrow, the danger may come from China and its control over the raw materials that are key to a clean energy future. The United States and its allies must ensure that doesn’t happen.

In recent years America has been lulled into a false sense of energy independence. The shale revolution of the past decade has generated incredible supplies of vital natural gas and oil. European countries, blessed with diverse economies, have also felt relatively secure in recent years. But that is changing.

Coastal GasLink attack: Wet’suwet’en Nation members, hereditary chiefs to meet amid concerns over ‘militant outside influences’ – by Brent Jang, Wendy Stueck and Nancy MacDonald (Globe and Mail – February 23, 2022)

February 24, 2022

https://www.theglobeandmail.com/

A group of nearly 120 members of the Wet’suwet’en Nation is calling for an emergency meeting with hereditary leaders after last Thursday’s attack on workers at a construction camp for a controversial natural gas pipeline in northern British Columbia.

“It remains very evident that the Nation is extremely divided and that militant outside influences have created a violent and confrontational dynamic onto our territories,” said the letter dated Wednesday.

How Canada can keep Europe’s lights on – by John Ivison (National Post – February 23, 2022)

February 24, 2022February 24, 2022

https://nationalpost.com/

There are good reasons why Vladimir Putin’s “little green men” have been able to operate with impunity in Ukraine for the past eight years. Putin has been able to deny that Russian troops without insignia are an invasion force because the international community doesn’t want concrete proof of the truth, in case it is obliged to do something about it.

The reason: Russia supplies one third of the gas that heats homes across Europe. Even as Putin cleared the way for a full-scale invasion of Ukraine, Western countries were still purchasing hundreds of millions of dollars of oil and gas from Russia.

Germany halts Nord Stream 2 pipeline over Russia’s Ukraine incursion, but other sanctions still in doubt – by Eric Reguly (Globe and Mail – February 22, 2022)

February 22, 2022

https://www.theglobeandmail.com/

Europe’s big unity tests began today, only hours after Russian President Vladimir Putin formally recognized the independence of two breakaway regions in eastern Ukraine and poured his “peacekeeper” soldiers into those areas.

Within minutes of the formal takeover of Donetsk and Luhansk, the United States and various European countries threatened to hit Russia with immediate sanctions. This was predictable. When Russia annexed Crimea in 2014, the sanctions came fast and some are still in place.

Violent overnight attack at Coastal GasLink site leaves workers shaken, millions in damage – by Cheryl Chan (Vancouver Sun – February 17, 2022)

February 18, 2022

https://vancouversun.com/

Violence has erupted at a Coastal GasLink pipeline work site in Northern B.C., leaving workers shaken and millions of dollars in damage. Very early Thursday, just after midnight, Coastal GasLink security called RCMP for help, reporting it was under attack by about 20 people, some wielding axes.

RCMP Chief Supt. Warren Brown, commander for the north district, called the attack a “calculated and organized violent attack that left its victims shaken and a multi-million dollar path of destruction.”

Gas, fracking, nuclear: Three energy sectors on Europe’s rethink list as war threatens Ukraine – by Eric Reguly (Globe and Mail – February 16, 2022)

February 17, 2022

https://www.theglobeandmail.com/

In the fall, when Russia began deploying more than 100,000 troops to Ukrainian border areas, prices for all forms of energy, especially natural gas, rose – and kept rising. The painful energy bills triggered a reassessment of Europe’s energy policies.

How did Europe become so dependent on gas imports? Would the lights go out if Russia were to invade? Did Europe vastly overestimate the ability of green power to fill the energy gap? Was it a mistake to phase out nuclear and coal-fired plants?

Europe, fearing war, scours the planet for LNG, but not enough is available to cure the energy crunch – by Eric Reguly (Globe and Mail – February 10, 2022)

February 11, 2022

https://www.theglobeandmail.com/

Europe is suddenly obsessed with liquefied natural gas, a minor but growing source of imported fuel that could play a key role in keeping the lights on if a Russian invasion of Ukraine triggers a sanctions battle.

Energy-starved Europe is already scouring the planet for LNG shipments to build its gas reserves and try to stop already painful prices from climbing even more. But energy analysts say there is no way Europe would be able to find enough LNG to meet its demands if Russia were to eliminate, or even reduce, gas exports.

Canada needs a better strategy to transition to a low-carbon future – by Eric Newell and Perry Kinkaide (Troy Media – January 27, 2022)

January 31, 2022

https://troymedia.com/

Balancing energy, the environment and the economy is critical. Yet current climate policies and plans – including Canada’s – are designed to phase out fossil fuel production entirely as rapidly as possible, largely ignoring the several decades-long transition required to develop reliable alternative energy systems.

To be effective, climate plans need to broaden their focus from primarily just energy sources/mix to including a focus on energy availability/reliability and energy affordability. Otherwise, they will not secure ongoing public, investor and political support.

OPINION: Angela Merkel’s dubious energy legacy haunts and divides Germany as tensions over Ukraine rise – by Eric Reguly (Globe and Mail – January 29, 2022)

January 31, 2022

https://www.theglobeandmail.com/

Germany is the weak link in the Western effort to hit Russia with a tough array of sanctions if it invades Ukraine. How did that happen? Blame Angela Merkel.

The former chancellor who led the German government for 16 years until her retirement in December, always took a pragmatic, not ideological, approach to ties with Russia and Vladimir Putin, its President.

This oil bull market is already a cash-flow bonanza for Canada and it has room to run – by Peter Tertzakian (Financial Post – January 26, 2022)

January 31, 2022

https://financialpost.com/

Running bulls are calling for another era of US$100-plus oil. The last time we saw that number flicker on a quote screen was July 2014. Today’s market feels more like circa 2007. Robust oil and gas consumption tugs against reluctant production and geopolitical tensions — think Russia, Ukraine, Middle East — act as a dark, phantom force to the upside.

The here-and-now price of a barrel has topped US$80 (WTI), which is a milestone. Any price that starts with an eight goes beyond psychological curiosity — fiscal consequences ensue outside the US$50-to-US$70 comfort zone.

[Ukraine/Russia Conflict] Germany’s Folly Preview – by Diane Francis (Diane Francis Website – January 27, 2022)

January 31, 2022

https://dianefrancis.substack.com/

Germany, normally considered one of the world’s smartest nations, rang in 2022 by pulling the plug on three of its last six nuclear plants and plans to close the rest by the end of 2022.

This policy to de-nuclearize the country has been a disaster and made the country dependent on Russia for energy, putting both Europe and the West at risk. Germany is Europe’s largest consumer of electricity and natural gas, the fifth-largest consumer of oil in the world, and more than half of all its energy comes from Russia.

The sustainable path to becoming an energy superpower – by Diane Francis (Financial Post – January 25, 2022)

January 25, 2022January 25, 2022

https://financialpost.com/

Canada can, and should, play a larger role in the global energy market, in order to protect the environment and guarantee Canadian living standards

The Canadian economy, and its currency, are intricately tied to oil markets. The good news is that the price of oil is up and is likely to stay that way for years to come.

Canada is an energy superpower, and has been for a number of years. It’s an exporter of electricity, uranium and natural gas, and is the world’s fifth-largest producer of oil. And its oil exports have grown in recent years, thanks to pipeline workarounds and growing demand south of the border.