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]
There are smart ways to be energy efficient, and there are others. We can’t afford the others
I work in a new office building, less than ten years old, one that was developed to the highest environmental standards. Every morning I sleepily wander past the LEED-whatever status plaque - it’s apparently a very good status or it wouldn’t be there on the lobby wall - and make my way to my office. I’m often first in, and the hallways are darkened as I make my way along. There is no need to turn on the lights, as I make my way along they magically spring to life sequentially as I approach, [Read more]
Substandard pop-culture energy reporting is going to cost us some day
It doesn’t seem fair to pick on big media machines for cranking out low-grade stuff that panders to current fashion in an arms-flailing attempt at popularity. I’d do the same if I were ambitious. The tactic isn’t a big deal when the readership is fervently awaiting news about, for example, Taylor Swift’s new boyfriend, but when it comes to matters of energy – i.e., what feeds us, moves us, and keeps us warm – we should hope that mainstream news editors might apply some critical thinking before [Read more]
Environmental genius we should learn from – Vermilion’s brilliant waste-heat tomato patch
The winter months here in Canada create a notable hardship – the inability to a find a decent tomato. I don’t know what those things are at the grocery store that in February are called tomatoes; they taste like a picture of a hamburger. A first sign of spring is edible tomatoes appearing on the shelves, courtesy of a greenhouse near the city that emerges from hibernation as the sun rises in the sky. This supply of high quality local produce is unavailable in winter because it costs an [Read more]
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