Picking on governments is an easy sport. It’s not hard to find dumb policies or some initiative that goes against an ideological viewpoint and infuriates exactly 40 percent of any given population. Instead of getting bogged down in provincial matters (both literally and legislatively provincial), I encourage you to expand your ire to the bigger picture where truly serious damage is happening. Current global policies are impacting not only energy but the whole economic framework. I’m not [Read more]
Saudi Arabia’s new strategy: $130 billion for nuclear/renewables, privatization, neighbourhood turf wars and a radical new vision
The Mariana Trench – the 6 mile deep canyon in the Pacific Ocean, not the misspelled pop band – is notable for at least two things: First, The Onion, the world's best "alternative" news site, described it as “once again the worst place to raise a child” and secondly, it may be the only place in the world yet to be explored for hydrocarbons. True; there are probably other undrilled places like the top of Mount Everest or under St. Paul’s cathedral. But considering that the largest global [Read more]
Soviet-style strangulation of Energy East marks Canada’s latest bullet in the foot
I’ve often felt bad for being amused by the antics of demented government regimes, such as how the Soviet Union officially described the Berlin Wall as the Anti-Fascist Protection Rampart, or how North Korea refers to itself as the Democratic People’s Republic of Korea. To anyone outside the system there is a delightful and almost endearing absurdity in these child-like attempts to disguise the true nature of their actions. But behind the comedy was always the realization that real people were [Read more]
Financial models are sometimes the dumbest models
Out there in the cloud, somewhere in the e-bowels of an upstanding company’s financial reporting cesspool, is a curious commentary about future decommissioning liabilities. Under a "Provisions" subsection, this pipeline company’s annual report discloses that a provision for future liabilities must be recognized when, among other things, “the obligation can be reliably estimated.” That is the standard as set down by auditors, and the section drones about the process until the punch line where it [Read more]
Sacrificing Energy East might be clever politics, but the country needs better
For hard working Canadians it can be painful to watch, but there’s no denying that there’s been some masterful political maneuvering on display recently. This is in reference to the berserk request by the National Energy Board to examine climate change impacts of the Energy East pipeline. This change in the NEB’s stance appears to be part of Prime Minister Trudeau’s master plan for solving pesky energy headaches. It’s easy to see the expediency of Trudeau’s path. He is caught between pursuit [Read more]
Cheap energy and low interest rates – central bankers bet the farm and you should feel queasy
Before getting to energy stuff, several interesting government schemes have developed over the past decade. One particularly noteworthy grew out of the financial crisis like a Harry Potter-world beast. This thing is real though, and worthy of some considerable attention. First, here’s a precursor to illustrate a point. A pillar of the modern financial world is credit rating agencies. These firms are, in theory and purpose, very simple machines. They act as impartial judges in assessing [Read more]
Gasoline to EV path is uncharted, complex and unfathomably large – that’s not hating, it’s reality
The fossil fuel debate sadly takes up too much real estate due to rearguard fighting against disinformation that litters the landscape. It’s a huge task merely to point out the fundamentals, such as how much fuel we actually consume, how much we rely on it, and how hard it will be to change to something else. Elaborating on these subjects comes across as a single-minded defense of fossil fuels, and it’s not. Certain fundamental realities need to be clearly understood by the masses before even [Read more]
Wake up Canada! Get behind energy megaprojects or get ready for the consequences
Not many commodities are hot anymore; investors are quite comfortable shunning the segment. But perhaps you may want to know about a commodity that in contrast is particularly overheated these days. Natural gas firm service transportation out of Alberta, for the upcoming winter season. Firm service prices are being bid up to unusual levels, even in the face of a relatively low commodity price forecast. Producers appear somewhat panicked about their ability to access markets for their [Read more]
Ghawar vs. the Permian – who would guess that a government-owned business would be run more wisely?
Petroleum reservoirs are not infinite. That might sound self-evident and/or stupid, but they are often treated as if they are. That can be a natural reaction as new fields are being developed, when the boundaries are still being delineated, and sometimes those enthusiastic thoughts just get stuck in everyone’s head. The phenomenon happens everywhere, but always fades with time. Two of the biggest examples of the past 50 years are Saudi Arabia’s reserves and US shale production. For decades [Read more]
Despite the proliferation of new hybrid vehicles, their sales numbers remain marginal
The second coming is upon us, or more appropriately in the auto world the third coming. Tesla’s legendary-before-its-been-seen Model 3 will find its way into a few customers’ hands later this month. The third of Tesla’s pure electric vehicle (EV) models – the first being the groundbreaking, heavy selling Model S; the second the futuristic, modestly selling Model X – has advance orders of 400,000 and a cult following akin to a new iPhone launch. Starry-eyed millennials, and a few genuine car [Read more]
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