Archive for January, 2018
Crude oil prices increased in 2017, and Brent-WTI spread widened
US crude oil production increased in 2017 by 384,000 b/d, more growth forecast to 2030 Crude oil prices ended 2017 at the highest levels since 2013 and West Texas Intermediate (WTI) crude oil prices averaged $51/b in 2017, up $7/b from the 2016 average, and ended the year at $60/b, $6/b higher than at the […]
Alberta Labour charges Nexen for 2016 double fatality explosion
Drew Foster, 52, of Niagara Falls, ON pronounced dead at scene and David Williams, 30, of Scotchtown, NS later died in hospital On Dec 19, Nexen Energy was charged with eight offences under the Alberta Occupational Health and Safety Act, after two workers died as a result of an explosion at the company’s Long Lake […]
Column: Time to hit reset on Canadian trade negotiations with Asia
By Glen Hodgson This article was originally published in The Globe and Mail on December 29, 2017. Canada’s trade dialogue with its Asia partners encountered a rough patch in November, when, at the last minute, a multicountry agreement was not advanced. Even as we work to clarify NAFTA with the United States and Mexico, we need to […]
Notley govt not selling carbon tax as well as Kenney is opposing it
New Alberta government carbon tax message: Asia is the future, China and India price carbon, the customer is always right Alberta’s carbon tax rose from $20 to $30 a tonne Jan. 1, setting off another political clash between the ruling NDP and Jason Kenney, one that will dominate political discourse until the provincial election in […]
Higher oil prices boost Prairie consumer confidence to pre-recession levels
Expectations are Canada will be second only to the U.S. for economic growth in 2018 The latest Bloomberg Nanos Canadian Confidence Index hit an eight year high as consumer sentiment in the Prairie provinces ramps up, according to a press release. “After being in the doldrums in terms of consumer sentiment, Canadians sentiment in the […]
Column: Hedge funds gamble OPEC will tighten oil market too much
Record net long position accumulated by hedge funds, other money managers By John Kemp LONDON, Jan 2 – Hedge funds are the most bullish about oil prices in years, expecting further gains even as prices touch multi-year highs and ignoring the risk linked to such a large concentration of positions. A record net long position […]
Oil prices climb to near 2015 highs early in session, but retreat on pipeline restarts
Brent and US WTI oil prices started the year over $60/barrel Oil prices that hit mid-2015 highs early in trading on Tuesday later slipped on restarts of major crude pipelines in the UK and Libya and rising US production. For the first time since January 2014, both Brent and US WTI opened the year over […]
Energy commodity prices increased in the second half of 2017
Less natural gas used in U.S. electricity generation during summer of 2017 compared with 2016 After decreasing nearly 20 per cent in the first half of 2017, the spot energy index in the Standard and Poor’s (S&P) Goldman Sachs Commodity Index (GSCI) ended 2017 16 per cent higher than the beginning of the year, according […]
Trump Administration rolling back safety rules born from Deepwater Horizon disaster
Scrapping regulations will save $28.8 million a year. BP has already spent $62 billion cleaning up after Deepwater Horizon disaster After reviewing off-shore oil and gas production safety regulations enacted by the Obama Administration after the 2010 Deepwater Horizon disaster at the request of President Donald Trump, the Bureau of Safety and Environmental Enforcement (BSEE) […]
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