The U.S. has long opposed using resource assets as a foreign policy tool but, with its new-found energy wealth, that may be changing RIYADH, Saudi Arabia/ Troy Media/ - The 'invisible hand' is under threat in the very country known by many – if not all – as a bastion of free market economy. For years, even decades, the U.S. has been discouraging the very idea of resource nationalism, insisting instead that free market forces control global energy dynamics. It has always been opposed to [Read more]
Column: North America’s ‘crude moment’ has arrived
Over the next few years, any rise in global demand will be filled by Canada and the U.S RIYADH, Saudi Arabia/ Troy Media/ - At 11 million barrels of crude per day, the United States is now the world's top crude producer. That amount surpasses both Russia' daily output of 10.53 million bpd and Saudi Arabia's 9.45 million bpd, according to Bloomberg citing the Energy Intelligence Group. The U.S. had already been declared the world’s largest natural gas producer in 2010. Now, courtesy the [Read more]
Another big oil outage would strain supply
The energy world is entering a new, dangerous phase RIYADH, Saudi Arabia/ Troy Media/ - The world may soon be experiencing a crude oil crunch. There is no denying, of course, that the world is in the midst of a shale revolution. In fact, according to BP, the U.S. today has 44.2 billion barrels of oil reserves – some 26 per cent higher than it previously thought. The U.S. Energy Information Administration has also recently increased its estimate of U.S. reserves to 33.4 billion barrels, or [Read more]
$48 TRILLION required by 2035 to meet global energy demand
Middle East will have to take the investment lead if the challenge is to be met RIYADH, Saudi Arabia/ Troy Media/ - To quench the still growing global thirst for crude will require a major increase in investments in the energy sector, according to the Paris based International Energy Agency (IEA), the OECD energy watchdog. An in its recently released Energy Investment Outlook, IEA emphasized that the Middle East will have to take the investment lead if the challenge of meeting future [Read more]
Job seekers need to be prepared for the coming BC LNG boom
By Michael Izen VANCOUVER, BC/ Troy Media/ - B.C. industry leaders and politicians are excited about the prospects of Liquefied Natural Gas (LNG) extraction, pipelines, terminals, and shipping. B.C. Premier Christy Clark even called it “a once-in-a lifetime opportunity, with the ability to create 100,000 new jobs.” But without strong effective communications of the details of these jobs, many people will not be ready when the jobs begin. Up to five LNG pipelines and terminals have [Read more]
COLUMN: Alberta moves past Keystone XL
Despite the setbacks, Alberta oil sands will eventually make its way to market By Shaun Polczer CALGARY, AB/ Troy Media/ - Call it the Good Friday massacre. U.S. President Barack Obama's decision to delay the oft-delayed Keystone XL pipeline provided yet another nail in the coffin of the troubled project, but certainly not the final one. That isn't to say the million barrel per day conduit from Alberta's oil sands to the U.S. Gulf Coast won't be built. However, it's increasingly [Read more]
Column: Keystone decision all about politics
It all comes down to politicians’ fear of losing their jobs By Rashid Husain Syed TORONTO, ON/ Troy Media/ - The message finally seems to be getting through in Washington. The release of the State Department Review was the final nail in the coffin for any environmental reason to delay a decision on the Keystone XL pipeline. The only remaining impediment is political – and even that is changing. U.S. President Barack Obama is caught between a rock and a hard place – and he knows [Read more]
Column: Proposed Kitimat oil refinery just another barrier to oil sands development
The suggestion that a refinery might allow for acceptable development is little more than a red herring By Kenneth Green CALGARY, AB/ Troy Media/ - B.C. Green party MLA Andrew Weaver has (grudgingly) endorsed the idea of building a $25 billion refinery in British Columbia to convert Alberta’s bitumen into gasoline, diesel fuel, and aviation fuel, allowing the export of refined product, reasoning that it is safer for the environment because refined petroleum products evaporate more [Read more]
Column: US should get ready for higher oil prices
Without the Keystone XL pipeline, the US will soon have to compete on the international market for higher priced oil By Ryan Lijdsman EDMONTON, AB/ Troy Media/ - Now that the U.S. State Department has laid to rest any scientific claim to blocking the Keystone XL pipeline, the latest argument used by anti-pipeline proponents is that the U.S. does not need Canadian oil at all. U.S. shale oil technology, they claim, has prevailed over peak oil and the U.S. has enough oil for the next 50 [Read more]
Column: Pipeline construction would boost government revenues…and employment in the in the oil sands industry to over 900,000 by 2035
By Sean Speer and Kenneth Green, The Fraser Institute VANCOUVER, BC, and CALGARY, AB/ Troy Media/ - Discussions surrounding the need for new pipelines to transport Canada's oil to market have been a dominant economic, environmental, and political issue for the past several years. Canada’s overwhelming reliance on the United States as a customer, the U.S.’s growing energy self-sufficiency, and limited pipeline infrastructure have placed a low ceiling on the prices Canadians are able to secure [Read more]