CALGARY - Pipeline proposals long considered dead and buried are coming back from the grave — sort of. Past plans to send oilsands crude east, west and south are being revived with different branding, proponents and routes. And, at least in the first two cases, the efforts are being driven by politicians rather than the private sector. Here is a look at defunct projects of yore and their resurrected versions: East "No one would ever think in 100 years this would be done," Ontario [Read more]
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Oil stocks in US Strategic Petroleum Reserve fall to lowest level since 1983
Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by 6.2 million barrels in the week ending July 3 to 319.5 million barrels, the lowest level since April 1983, according to data from the Department of Energy. The drawdown is part of a U.S. agreement to release 172 million barrels from the facility to plug a gap in global inventories since the Iran war and help push down fuel prices. Since the war began at the end of February, overall U.S. inventories, including commercial and [Read more]
Cuba’s national electric grid collapses, reason unknown
Cuba's national electric grid collapsed on Monday at midday, the country's grid operator said, leaving around 10 million people on the Caribbean island without power. Grid operator UNE said it was investigating the cause of the nationwide blackout. Cuba has for months suffered from hours-long, and more recently, days-long power outages linked in part to a decrepit grid and a U.S. imposed oil blockade that has cut off the island's fuel supply. The nationwide outage is more bad news for [Read more]
Alberta and Ontario propose new 2,050-mile Canada oil pipeline
Alberta and Ontario on Monday proposed a new 2,050-mile (3,300-km) crude oil pipeline between the two Canadian provinces that they said would initially move 500,000 barrels per day and reduce reliance on foreign markets. * The proposed pipeline would run from Hardisty, Alberta, to refineries in Sarnia, Ontario, and could eventually move 800,000 bpd, the provinces said in a release. * The two provinces said a feasibility study should be ready by the end of the year but made no mention of who [Read more]
Fuelling Canadian refineries with Alberta energy: Statement from Premier Smith
Jul 06, 2026 Premier Danielle Smith issued the following statement following the announcement of a potential west-east oil pipeline. On this page: Quick Facts: Related news Multimedia Premier Danielle Smith issued the following statement following the announcement of a potential west-east oil pipeline. “After signing an agreement last year to work together with Alberta and Saskatchewan to build new pipelines through an economic corridor from Alberta to [Read more]
Premiers Smith, Ford unveil proposed west-east oil pipeline route
CALGARY - Alberta Premier Danielle Smith and Ontario Premier Doug Ford have unveiled a route for a proposed west-east oil pipeline. The two premiers say it would stretch 3,300 kilometres from Hardisty, Alta., to refineries in Sarnia, Ont., without crossing the U.S. border. The Ontario government says the line would move 500,000 barrels of crude per day and help reduce Canada's need to import refined oil. Ford joined Smith to make the announcement at the Calgary Stampede, after the two [Read more]
World absorbs historic Iran war oil supply loss, but depleted stocks bring risks
The world has absorbed with surprising ease the loss of over a billion barrels of oil supply since the Iran war began, but, with long-term peace elusive and buffer reserves now drained, it still faces the looming risk of future price spikes. Tehran's throttling of the Strait of Hormuz in response to the U.S. and Israeli attacks launched on February 28 fed fears of a catastrophic global energy crunch. The ensuing four-month conflict did, indeed, create the biggest energy disruption in history, [Read more]
Khamenei funeral signals Iran’s defiance and new regional order
The funeral of late Iranian Supreme Leader Ayatollah Ali Khamenei was more than a national farewell. The sea of mourners in Tehran sent a message to the United States and Israel that their attempt to break the Islamic Republic had failed. Rather than looking weakened by the war that began with U.S. and Israeli strikes on February 28, Iran presented itself as defiant, unified and determined to shape what comes next. That defiance and ability to survive now underpins Iran's negotiating [Read more]
Saudi Arabia cuts August Arab Light Asia OSP, biggest drop in over two decades
Saudi Arabia has set the August official selling price (OSP) for its flagship Arab Light crude to Asia at $1.50 a barrel below the Oman/Dubai average, an $11 cut from the previous month and the biggest drop in more than two decades, according to a Saudi Aramco pricing statement released on Monday. Reuters data dating back to 2003 show the reduction is the largest on record. The August OSP is the lowest level since June 2020 and compares with a premium of $9.50 a barrel in the previous [Read more]
OPEC+ to boost crude output, but can it deliver and who will buy?: Russell
The decision by OPEC+ to increase crude oil production quotas for a fifth straight month from August raises two questions. Can they actually ship the increased output and if they can, who will buy it? The seven core members of OPEC+, which groups together OPEC and allied producers such as Russia, agreed at a meeting on Sunday to lift quotas by 188,000 barrels per day from August, taking the total increase to almost 800,000 bpd since April. The first question will be answered in the [Read more]
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