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Who’s afraid of $50 oil? (Answer: Canada’s oil industry)
Who’s afraid of $50 oil? (Answer: Canada’s oil industry) Oil below $50 a barrel could spur another leg down for Canada’s oil industry It may be high summer on the calendar, but Canada’s energy companies are already looking towards the coming winter. What they see is looking worse now than it was even a month […]
Will ‘Corner Office Syndrome’ Be The Downfall Of Canada’s Oilfield Services?
Will ‘Corner Office Syndrome’ Be The Downfall Of Canada’s Oilfield Services? No sector of the economy should be considering the urge to merge more than Canada’s beleaguered oilfield services (OFS) business. The signals are powerful: overcapacity in virtually every product and service line; prices down to slimmest of margins; bankers are unhappy and getting twitchy; […]
Acrid Smell of Burned Fingers Wafts through the Bond Market
Acrid Smell of Burned Fingers Wafts through the Bond Market Commodities had once again an ugly week. Copper hit the lowest level since June 2009. Gold dropped below $1,100 an ounce. Other metals dropped too. Agricultural commodities fell; corn plunged nearly 7% for the week. Crude oil swooned, with West Texas Intermediate dropping nearly 7% […]
Iran Deal is About Staving Off the Coming Oil Shock
Iran Deal is About Staving Off the Coming Oil Shock The US wants to use Iran to sustain its regional influence in the face of the next global economic recession The Iran nuclear deal signals a major shift in the geopolitics of the Middle East. Integral to the equation is oil, economics, terror – and […]
Deflation Is Winning – Beware!
Deflation Is Winning – Beware! Expect the ride to get even rougher Deflation is back on the front burner and it’s going to destroy all of the careful central planning and related market manipulation of the past 6 years. Clear signs from the periphery indicate that a destructive deflationary pulse has been unleashed. Tanking commodity […]
Oil prices are down, gasoline prices are not. What gives?
Oil prices are down, gasoline prices are not. What gives? It’s a good summer to be selling gasoline, not a great one to be buying it In mid-February, the price of oil hovered around $50 US a barrel, and a litre of gasoline cost, on average, $1.01 Cdn. This week, the price of oil is hovering around […]
Has U.S. oil production started to turn down?
Has U.S. oil production started to turn down? The plunge in oil prices last year led many to say that a decline in U.S. oil production wouldn’t be far behind. This was because almost all the growth in U.S. production in recent years had come from high-cost tight oil deposits which could not be profitable […]
Calgary Office Market Gets Crushed. Oil, China Blamed
Calgary Office Market Gets Crushed. Oil, China Blamed The office vacancy rate in downtown Calgary, the epicenter of the Canadian oil bust, could hit the vertigo-inducing level of 17.5% by the end of 2018, a new report by commercial real-estate firm Colliers International warned – and added some ominous clouds: “Given the current global macro […]
Nexen’s Brand New, Double-Layered Pipeline Just Ruptured, Causing One of the Biggest Oil Spills Ever in Alberta
Nexen’s Brand New, Double-Layered Pipeline Just Ruptured, Causing One of the Biggest Oil Spills Ever in Alberta A pipeline at Nexen Energy’s Long Lake oilsands facility southeast of Fort McMurray, Alberta, spilled about five million liters (32,000 barrels or some 1.32 million gallons) of emulsion, a mixture of bitumen, sand and water, Wednesday afternoon — […]
Bank of Canada Sees Global Economy, Freaks Out, Cuts Rate, Warns of Financial Stability Risks, Loonie Plunges
Bank of Canada Sees Global Economy, Freaks Out, Cuts Rate, Warns of Financial Stability Risks, Loonie Plunges The Bank of Canada took a good look at the Canadian economy, saw it was sinking into the mire, glanced at the collapsed prices of commodities, particularly oil, saw how they were wreaking havoc in Canada, and then […]
Oil Price Rebound Looking Unlikely
Oil Price Rebound Looking Unlikely Oil prices may have firmed up a bit this spring, but we could be heading into another protracted period of weak prices. First there are the demand risks. The Chinese stock market turmoil raises serious concerns over a potential financial crisis, which, needless to say, would be negative for oil prices. The […]
Oil tumbles as Iran nuclear deal looms
Oil tumbles as Iran nuclear deal looms An offshore oil platform is seen in Huntington Beach, California September 28, 2014. REUTERS/LUCY NICHOLSON Oil prices tumbled on Monday as Iran and six world powers closed in on a nuclear deal that would end sanctions on the Islamic Republic and let more Iranian oil on to world […]
EIA Confirms: Oil Production Peaked
EIA Confirms: Oil Production Peaked U.S. oil production has peaked…at least for now. That is the conclusion from a new government report that concludes that U.S. oil production is on the decline. After questions surrounding the resilience of U.S. shale and when low oil prices would finally cut into production, the EIA says the month […]
Greenwash: Shell May Remove “Oil” From Name as it Moves to Tap Arctic, Gulf of Mexico
Greenwash: Shell May Remove “Oil” From Name as it Moves to Tap Arctic, Gulf of Mexico Shell Oil has announced it may take a page out of the BP “Beyond Petroleum” greenwashing book, rebranding itself as something other than an oil company for its United States-based unit. Marvin Odum, director of Shell Oil’s upstream subsidiary companies in the Americas, told Bloomberg the name Shell […]
