Prime Minister Justin Trudeau today announced the federal government approval of Enbridge's $7.5 billion Line 3 pipeline project, and the $6.8 billion Kinder Morgan Trans Mountain project. Trudeau however has dismissed the Northern Gateway project and has maintained his government's desire to have a moratorium on tanker traffic on British Columbia's northern coast In April, the National Energy Board recommended approval of the Canadian part of the Line 3 project with 89 conditions. Line 3 … [Read more...]
It’s morning in America and perhaps Alberta too
Donald J. Trump is now the President-elect of the United States of America. Instead of dwelling on how he managed to surprise the world with his victory, it is time to consider the impact his presidency will likely have on the Alberta/Canada economies, and the relationship Canada' provincial and federal governments will have with President-elect Trump. Canada's banks have already made proclamations that a Trump presidency will be an economic plus to both Canada and Alberta. Here's how … [Read more...]
Enbridge says Line 4 and 67 shut in Minnesota after protest
It was reported today that Endbridge has been forced to shut pipelines 4 and 67 at a valve site in Leonard, Minnesota. The action to shut the pipelines comes after trespassers cut chains and attempted to turn off valves. In response, Enbridge posted the following on Facebook: And the following on Twitter: Criminal acts of tampering, trespassing & occupation of pipeline facilities have the potential to cause serious harm https://t.co/e2KEg2g7vp — Enbridge (@Enbridge) October 11, … [Read more...]
Why oil prices are definitely maybe going to rise
Oftentimes, a simple question leads to a complex answer. A great example of this would be the question: is the price of oil going to go up or down? Obviously, there are only three possible answers to this question - up, down, neither. Granted, those three answers aren't that complex, but most likely, the person asking the question will want to know how the person arrived at their answer. It is at this point where complexity will almost always rear its ugly head. Keep in mind that if the … [Read more...]
Letter to the Editor: Kalamazoo Two
This past July, The North Saskatchewan River was subject to a pipeline leak that resulted in a significant amount of diluted bitumen finding its way into river. Husky Energy, the pipeline's operator, discovered a leak on the edge of the river hours before it notified the government and shut off the flow. Since that time, repercussions have been many, but thankfully, the pipeline has been fixed. Husky has also done a reputable job in responding to such a crisis. Already, the company has committed … [Read more...]
What Alberta’s political leaders can learn from Greek monks
Earlier this week, the BOE Report published two separate accounts discussing Rachel Notley's role in addressing Alberta's bleak economy - which for the most part can be read as the province's oil and gas industry. The first, written by Terry Etam, suggested that part of the reason why the province's oil business is in the shape it's in is because of past government policy (or lack thereof). Prior to the NDP recently taking office, Alberta was governed by the Progressive Conservative party for … [Read more...]
Yes drilling is up in the United States, no that doesn’t mean prices will fall
A question everyone in the oil business wants to know the answer to is: At what price point will incremental drilling resume in the United States. Knowing the answer to this question is compelling because it gives investors an idea as to when the recent price rally may slow. But also, the answer serves as an indicator of improvement for the supply side of the business. More drilling means more jobs. Lately, the amount of drilling in the US (not including offshore Gulf of Mexico drilling) has … [Read more...]
Debate rages over Canadian oil being exported from New Brunswick to U.S. Gulf Coast
This past Tuesday, the merits of Canada exporting oil from New Brunswick into the US market were debated between Canadian oil industry advocate and founder of Canada Action Cody Battershill, and Anthony Swift, a lobbyist based in Washington, DC. The debate (or conversation) took place on Rob Breakenridge's AM 770 show and covered several different points surrounding the topic. Who is Anthony Swift? Swift works for the Natural Resources Defense Council (NRDC), and maintains that his … [Read more...]
Canada’s oil and gas industry gets left in the dust as other nations take advantage of opportunity
A few weeks ago, Canada's liquefied natural gas industry was dealt yet another blow. The Shell-backed LNG Canada venture announced to the public that they had chosen to delay a final investment decision indefinitely. As was reported by the Canadian Press, "LNG Canada’s decision to put the project in Kitimat on hold amid weak global prices wasn't surprising, but it adds to the pessimistic mood around the future of the sector in both BC and across the country." LNG Canada's decision underscores … [Read more...]
You won’t believe these amazing tools the BOE Report offers completely free
The BOE Report has a wide variety of tools offered at no cost to the user. The following features provide insightful information concerning Canada and United States' oil and gas industry: Well Activity Map The BOE Report provides the fastest performing map outlining North American well activity. With a database updated weekly and stretching back to January 2013, users can use the map to search where companies have drilled and for what substance. Using the map, it is easy to find how … [Read more...]
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