Oil is Dead

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
23,084
7,974
113
Regina, Saskatchewan
All the faux shock over May saying exactly what everyone else is thinking.
What everyone else *already knows*
Everyone?

A French farmer harvests a wheat field with a combine harvester, next to wind turbines, on a wind farm in central France in 2017. JEAN-FRANCOIS MONIER/AFP (I don't see an extension cord running from the wind turbine to the combine. Is is hidden in the wheat field?)

http://nationalpost.com/opinion/rex-murphy-only-the-greens-and-separatists-could-find-opportunity-in-a-pandemic

On Wednesday, Elizabeth May, the Green party’s parliamentary leader, stated that, “Oil is dead,” and argued that, “The pandemic, in a very real way, as horrific as this is at many, many levels, gives us an opportunity to stop and think about how we get this economy back on its feet.”

Leaders in Venezuela, Saudi Arabia, Kuwait, Qatar, China, Russia and Norway must have been shocked to hear the news. Imagine waking up on the other side of the world and hearing that the leader of a small Canadian political party declared that your energy industry is dead. I don’t know how to say “Elizabeth May has told us our oil industry is no more” in Norwegian, but I bet it sounds very sad.

Well, I’m here to relieve those statesmen, because May wasn’t talking about them. They are safe — always have been, always will be. As far as I can tell, May never chastises China, Russia or Qatar. When she said, “Oil is dead,” it was a verbal Exocet aimed straight at Alberta and its planet-destroying government. “Jason Kenney, your province is so over,” is how I paraphrase it.

But let us look at her other, in some ways more interesting, claim: that COVID-19 is an “opportunity.”

During a global pandemic that has seen hundreds of thousands of deaths, hundreds of thousands more mourning, economies wrecked and near universal anxiety, it is really difficult to craft a sentence in which COVID-19 swims in the same lexical waters as “opportunity.” Skip the rote demurrals — “as horrific as this is at many, many levels” — which function mainly as throat-clearing before getting to the main message.

One would have to scramble over a lot of other quite readily available terms — disaster, tragedy, calamity, plague, threat, misery, heartbreak — before settling on “opportunity” as a choice description for a planetary epidemic. Well done, May.

The kernel of May’s declaration is that COVID-19 can serve as a lever, political or otherwise, to finish off the Alberta oil industry. And that, by her green lights, is an opportunity. I suppose that if you hate the security and comforts of 21st-century civilization that only energy underwrites, and if you despise the many miracles of our time — from medicine, to food, to communications — that energy has enabled, and if you ignore or deny the tremendous contribution that Alberta oil has made to the economy and workers of Canada … then you can, if you work at it, come to see COVID-19 as an “opportunity.”

Personally, I find it callous that anyone would use the current pandemic as a weapon in the perpetual green war against Alberta. But environmentalists, as we all know, answer to a higher voice than the rest of us. There is nothing quite like the conviction that you are saving the world to leave you indifferent to the obviously lesser cares and concerns of others.

Elizabeth May, Eco-Goblin, skulking around the entrance to the West Block on Parliament Hill in Ottawa, on April 29. David Kawai/Bloomberg

Though Abhijeet Manay, the deputy leader of the Green Party of Ontario, also tweeted this week that, “A post-COVID world has no place for the greedy, shortsighted & vicious societies that Big Oil creates,” it wasn’t exclusively a Green pile-on. May’s perpetual end-of-the-world mentality would be a cry from the fringe without an accompanying three cheers from the separatists.

The always vigilant CBC had the perfect headline: “May and Blanchet declare the oil patch dead.” And they do make a congenial duo: Bloc Québécois Leader Yves-François Blanchet wishes to separate from Canada; and May wants to separate from reality. Blanchet spits on Alberta oil, but it still flows into Quebec. And if oil is really dead, shouldn’t someone stop those tankers from Saudi Arabia and Venezuela that drift into the Montreal harbour to stoke Quebec’s economy? Even separatists drive cars, and some even want to warm their homes with Western energy.

Alberta has kept Quebec a winner in the equalization bingo game for decades. Quebec should, at the very least, have the good sense not to insult its benefactors. If it were not for “vicious” oil workers and the “dirty” oilsands, the streams of equalization, and the dreams of separatism, would have dried up long ago.

The greatest chasm in Canadian politics is the gap between professional global warming activists and people who work for a living. Let us compare those who hate oil with those who produce it in terms of their contribution to Canada’s well-being.

Bloc Quebecois Leader Yves-Francois Blanchet Hitchhiking Quebec on the sweat of Western Canada's labour. Andrej Ivanov/Reuters

There is the great number of people who leave their house every morning to put in an honest eight or 12 hours in a mine, oilfield or forest, and another set who tweet a lot, shuffle out grim press releases by the mile and stage gimmicky protests, all in an effort to stop the first bunch from having any work to go to. The hive of climate activists do nothing but sneer at those who keep the nation moving.

This latest battery from May reveals a cardinal element in the green world: environmentalism is a species of snobbery. She knows what Albertans want, and they can hardly be trusted to know for themselves. The Greens prate and sing their virtuous hymns. They slam a carbon tax on the farmers and truck drivers during a plague, without a whisper of apology. They are spiteful of Canadian sources of oil, but silent on every other international source. No wonder they find a bedfellow in a separatist leader.

How many jobs has Elizabeth May created? How many families have been fed by environmental protests? How many poor Canadians were lifted out of the welfare trap because some smug spokesman for a cleaner world gave a press conference? How many Indigenous reserves are better off — their drinking water cleaner, their young people with better prospects — because the Sierra Club, Greenpeace or May’s Green party has been around? What, aside from unending, captious alarmism have they contributed to anyone other than their own specious cause?

Oil is dead; the pandemic is an opportunity to make sure it stays that way. The separatist leader and the Green leader are doing what they can to make Canada an easy place for some to think of leaving it. Alberta Premier Jason Kenney called their statements “divisive.” He was too kind. There are more vigorous words on call, but they do not belong in print.
 

captain morgan

Hall of Fame Member
Mar 28, 2009
28,429
146
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A Mouse Once Bit My Sister
Let 'em leave.

Norway wants to leave bags of cash on the table for other folks, i say good riddance.


The UK is trying the same thing. Now that they are officially in a recession, we'll see if they have the appetite to walk away from a proven income generation machine and back renewables that simply can not exist without massive subsidies
 

Avro52

Time Out
Mar 19, 2020
3,635
5
36
Norway is a shining example of how to use oil profits.

Save, save, save....invest, invest, invest.

What the hell have we been doing here?
 

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
3
36
Norway is a shining example of how to use oil profits.

Save, save, save....invest, invest, invest.

What the hell have we been doing here?
Norway also leads the world in e vehicle adoption.

But what do they know?
 

pgs

Hall of Fame Member
Nov 29, 2008
26,608
6,968
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B.C.
Norway is a shining example of how to use oil profits.

Save, save, save....invest, invest, invest.

What the hell have we been doing here?
Spend spend spend , it is the Liberal way .
 

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
39,778
454
83
OPEC Slashes 2020 Oil Demand Forecast By 9 Million Bpd

In its closely watched Monthly Oil Market Report published today, OPEC revised down, again, its global oil demand forecast for this year by a massive 2.23 million barrels per day (bpd), and now sees global oil demand falling by 9.07 million bpd in 2020 compared to 2019.

Along with slashing demand projections, OPEC also took an ax to its forecast for non-OPEC supply this year, revising it by nearly 2-million-bpd from last month. Currently, non-OPEC supply is expected to drop by 3.5 million bpd this year, driven by “production shut-ins or curtailment plans announced by oil companies – including the majors – particularly in North America.”

https://oilprice.com/Energy/Crude-O...Oil-Demand-Forecast-By-9-Million-Bpd.amp.html


Must be 'tater tot's' fault...
 

Twin_Moose

Hall of Fame Member
Apr 17, 2017
21,360
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Twin Moose Creek
OPEC Slashes 2020 Oil Demand Forecast By 9 Million Bpd
In its closely watched Monthly Oil Market Report published today, OPEC revised down, again, its global oil demand forecast for this year by a massive 2.23 million barrels per day (bpd), and now sees global oil demand falling by 9.07 million bpd in 2020 compared to 2019.
Along with slashing demand projections, OPEC also took an ax to its forecast for non-OPEC supply this year, revising it by nearly 2-million-bpd from last month. Currently, non-OPEC supply is expected to drop by 3.5 million bpd this year, driven by “production shut-ins or curtailment plans announced by oil companies – including the majors – particularly in North America.”
https://oilprice.com/Energy/Crude-O...Oil-Demand-Forecast-By-9-Million-Bpd.amp.html
Must be 'tater tot's' fault...

Taking a victory lap for the Oil deal that Trump negotiated?
 

Decapoda

Council Member
Mar 4, 2016
1,682
801
113
May and Blanchet declare the oilpatch 'dead,' warn Ottawa against financial supports

Good thing oil is dead, things could get a little dry in Ontario over the next little while.

"It's going to be felt at the pump': Ontario could see gas price hikes if Enbridge's Line 5 stays shut

Too bad Canada didn't have an East/West pipeline that could support the Eastern provinces in times of uncertainty. Oh well, Teslas don't need oil and gas, so I'm sure Ont. and QC will be fine.
 

Twin_Moose

Hall of Fame Member
Apr 17, 2017
21,360
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Twin Moose Creek
Oil up on tighter supply, expectations for positive data

LONDON (Reuters) - Oil prices rose on Monday, supported by tighter supplies and a string of data expected to show economic recovery across the globe and despite a spike in coronavirus cases in the United States and other countries.

Brent crude was up 73 cents, or 1.7%, to $43.53 per barrel by 0808 GMT. U.S. West Texas Intermediate (WTI) crude was up 28 cents, or 0.7%, at $40.93.
"The market appears to be shrugging off the surge in COVID-19 cases in the United States," ING said, adding that data for several cities in affected states did not show a significant reduction in road traffic week on week.

Market sentiment was also positive as investors expected a string of improving economic data.

In China, the economy is recovering while its capital markets are attracting money, setting the scene for a healthy bull market, the official China Securities Journal said in an editorial on Monday.

Traders were also keeping an eye on U.S. non-manufacturing activity, German industrial orders for May, and retail sales for the eurozone, all due on Monday and all expected to be positive.

Graphic: World demand and supply for oil https://fingfx.thomsonreuters.com/gfx/editorcharts/yxmvjlnomvr/eikon.png

The implied volatility for Brent crude has dropped to its lowest level since prices started collapsing in March as markets remain focused on tightening supplies as production by the Organization of the Petroleum Exporting Countries (OPEC) fell to its lowest in decades.
OPEC and other producers including Russia, collectively known as OPEC+, have agreed to lower output by a record 9.7 million barrels per day (bpd) for a third month in July.

"While risks on the demand side are weighing on prices, the good discipline with OPEC+ is lending support," Commerzbank analyst Eugen Weinberg said.

Saudi Arabian oil producer Aramco raised August official selling prices (OSPs) for its Arab light crude.

U.S. production, the world's largest, is also falling. The number of operating U.S. oil and natural gas rigs fell for a ninth week, although the reductions have slowed as higher oil prices prompt some producers to start drilling again.