Naw, they are already investing in renewable development because they don't want to go down with oil.
Canadian oil sector to be looking toward renewable energy
- Thread starter mentalfloss
- Start date
Naw, they are already investing in renewable development because they don't want to go down with oil.
Yep, expect the various resource development companies to get a big lift from the Feds...M Lotsa your hard earned cash will be doled out to mining and oil companies, probably for a number of years to come
It may well be "useless" to you but to the economy and the country as a whole, it's a vital resource. But ideology gets in the way of practicality as you have just demonstrated.
Ironic that all those boats out in Vancouver and Victoria can't operate without oil.... No need for an anchor if you're in dry dock, eh?
It's such a vital resource that we have too much of it because not enough are using it.
Real world logic, no ideology necessary.
Only because of Covid and people not commuting and not working or working from home there is less demand!
So stop being so dense! and just blowing smoke!
So stop being so dense! and just blowing smoke!
It's all around you.
How do you think your flesh light was delivered?
It wasn't from electricity.
It's all around us in much lower demand than ever before and we're doing just fine.
Hell, I wish this shutdown lasted longer, I'm making an extra two grand a month just working from home. Thankfully, this event will actually normalize distance working and mean less driving for many industries.
People are saving a lot of money these days as we begin to realize how much of it we don't need.
Hell, I wish this shutdown lasted longer, I'm making an extra two grand a month just working from home. Thankfully, this event will actually normalize distance working and mean less driving for many industries.
People are saving a lot of money these days as we begin to realize how much of it we don't need.
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How clueless are you?
Will your kids teacher work from home?
How about the waitress at your favorite restaurant?
Or the UPS, FEDEX and Amazon delivery drivers?
Or delivery people generally from the cement truck driver heading to construction site - to the guy delivering carrots and potatoes
to your local food store!
And in case you dont know - there are VERY FEW civil service union HOGS DOING ANY WORK FROM HOME
over those INSECURE and overloaded govt networks!
I have a relative who works for a bank and he DOES NOT WANT to work from home!
For one thing there are SECURITY ISSUES involved! If somebody hacks into his home internet then its HIS PROBLEM!
But if somebody hacks into the bank system then he can be SYMPATHETIC AND FREE OF RESPONSIBILITY!
People WILL BE going back to work as soon as it is SAFE to do so!
And there are a QUITE A NUMBER OF BOSSES AND COMPANY OWNERS WHO WILL DEMAND that their employees
COME BACK TO WORK so they can be SUPERVISED and regulated to avoid slackers!
Once upon a time I did a contract for a woman who owned a travel agency and she did her summertime supervision from a DOCK
on the shore of SCENIC Lake Rosseau!
Yes - the boss had those key stroke loggers installed on each of the company computers and knew very well how many key strokes
a hard working employee would put in! Thus she could lounge on her dock in the sun with a gin and tonic and dabble her feet in the
cool waters and send SNARLING MESSAGES to employees who were not pulling their weight!
Letting her employees work from home would KILL her ability to supervise and punish slackers! No more key loggers at home!
Working from home is NOT something most bosses approve of and generally WILL NOT TOLERATE!
Enjoy your freedom WHILE YOU CAN!
NORMALCY WILL RETURN!
John Ivison: Liberals best to ignore certain politicians who wish Canadian oil were 'dead'
Elizabeth May has provoked outrage by claiming “oil is dead.”
It is not entirely clear why. It’s like the Pope proclaiming the Bible as the fount of spirituality.
May is the country’s environmental conscience — the demise of fossil fuels is an article of faith for her. But she is guilty of wishful thinking. The Canadian oil industry is not dead yet — in fact, it may be getting better.
In an article in Policy Magazine, May claimed Canadian oil is a “product lacking investors.”
Yet, at the annual general meeting of Barclays PLC in London on Thursday, shareholders of the giant European bank voted down a proposal by Share Action, an activist group that promotes “responsible” investing, to quit the Canadian oilpatch.
“The tarsands have no place in a Paris-compliant world,” Share Action said.
Three-quarters of the bank’s shareholders disagreed.
Financial institutions around the globe have been buckling before the might of such activist groups but Barclays said that the industry here is supported by the Canadian government and is highly regulated. It agreed to stop lending to the coal industry and to stop funding Arctic drilling, but fought the case for continued lending to oilpatch clients, provided the carbon intensity per barrel is lower than the global median by the end of the decade — a goal most oilsands producers believe they will achieve.
The reason Barclays risked the wrath of Share Action and its fellow travellers is that it believes the Canadian industry may be in better shape coming out of the COVID crisis, than it was going in. Barclays thinks many Canadian producers will have a superior ability to weather the current price war than over-leveraged U.S. shale producers; it believes a new pipeline from Alberta to the West Coast will be built; and it sees the prospect of Canadian oil sales to the East Coast carried by ship, via the Panama Canal. The world still depends on oil and is likely to do so for many years, according to the International Energy Agency, even if its most recent review suggests demand may suffer in the short run.
This is not to suggest that the industry is in rude health. Suncor was one of many oilsands giants this week to reveal massive losses in the first quarter, joining Canadian Natural Resources, Crescent Point, Cenovus, Husky and others.
Suncor said gasoline demand dropped by half and aviation fuel sales fell by 70 per cent. The sector has already turned off 600,000 barrels per day of production and that number is likely to hit one million. Planned capital spending has been cut across the board in an industry where investment was already around one-third 2014 levels.
The price of Western Canadian Select has stabilized, trading at around $22 on Thursday, but that’s still below break-even for many producers.
But while the energy industry is down, it is not out. This is just as well for the Canadian economy, given it is the country’s largest export industry, responsible for 10 per cent of GDP; employs more than half a million people; and, contributes around $8 billion in tax revenues.
If it was dead, the deleterious effects would ripple beyond the Prairies: Canadian banks, for example, have around $60-billion of exposure in loans to the oilpatch.
May, and Bloc Québécois leader Yves-Francois Blanchet, have shown almost indecent haste in calling for the pandemic to be used as an opportunity to re-orient the energy mix away from Alberta oil. “The pandemic in a very real way, as horrific as it is at many levels, gives us an opportunity to stop and think about how we manage to get this economy back on its feet,” May said. Alberta Premier Jason Kenney said Thursday that May and Blanchet should stop kicking Albertans when they’re down.
But there is considerable sympathy for May’s view in Liberal circles. In his morning press conference, Justin Trudeau said government efforts at spurring recovery will take into account how to “build better” — greener outcomes with less pollution.
The federal budget, when it eventually lands, is likely to be heavy with sustainable-finance measures, policies that might encourage the financing of innovation, clean electricity, retrofits and climate-resistant infrastructure.
But the prime minister was politically astute enough not to gloat about the travails hitting oil producing provinces.
“I don’t share that assessment,” he said, when asked if he agreed with May.
Since April 17th, Trudeau has been talking about help for the oil and gas sector. There has been a $1.7-billion commitment to clean up orphan and abandoned wells, as well as money made available to reduce methane emissions.
But the province has called for the federal government to go further and use its ability to borrow at rock-bottom interest rates to provide a $20-billion liquidity backstop for major producers.
Frustration with the federal government inside Kenney’s Alberta government is usually high, but tempers have shortened from sporadic Happy Gilmore levels to what might be termed Goodfellas.
The belief is that the Department of Finance has pulled together a plan for a liquidity facility that the Prime Minister’s Office has held up for political reasons.
Senior officials in Alberta point out that companies are not looking for a bail-out, just help to withstand a prolonged period of instability.
“Government support signals to the markets the willingness to back this industry. It says ‘we’re the fire department and we have a ton of water to throw on this fire’,” said one senior source.
The federal cabinet appears to be split on whether to help put out a conflagration caused by COVID and the oil-supply overhang created by Saudi Arabia and Russia.
Detractors points out the high carbon content of Alberta bitumen: Stanford University places Canada behind only Venezuela, Cameroon and Algeria in terms of greenhouse gas emissions per unit of energy.
Supporters point out that half the crude extracted in the U.S. has a similar emission level; that the amount of energy used per barrel has fallen 20 per cent since 2011; and that the province has an absolute cap on emissions. If Canadian oil is displaced by product from overseas, it will likely be from a country where environmental activists would not dare to operate.
The bottom line is that the energy industry is in transition — even Kenney admits as much.
But the country needs a functional fossil fuel industry to help fund that shift. It will not happen overnight.
nationalpost.com/news/john-ivison-liberals-best-to-ignore-certain-politicians-who-wish-canadian-oil-were-dead
John Ivison: Liberals best to ignore certain politicians who wish Canadian oil were 'dead'
Elizabeth May has provoked outrage by claiming “oil is dead.”
It is not entirely clear why. It’s like the Pope proclaiming the Bible as the fount of spirituality.
May is the country’s environmental conscience — the demise of fossil fuels is an article of faith for her. But she is guilty of wishful thinking. The Canadian oil industry is not dead yet — in fact, it may be getting better.
In an article in Policy Magazine, May claimed Canadian oil is a “product lacking investors.”
Yet, at the annual general meeting of Barclays PLC in London on Thursday, shareholders of the giant European bank voted down a proposal by Share Action, an activist group that promotes “responsible” investing, to quit the Canadian oilpatch.
“The tarsands have no place in a Paris-compliant world,” Share Action said.
Three-quarters of the bank’s shareholders disagreed.
Financial institutions around the globe have been buckling before the might of such activist groups but Barclays said that the industry here is supported by the Canadian government and is highly regulated. It agreed to stop lending to the coal industry and to stop funding Arctic drilling, but fought the case for continued lending to oilpatch clients, provided the carbon intensity per barrel is lower than the global median by the end of the decade — a goal most oilsands producers believe they will achieve.
The reason Barclays risked the wrath of Share Action and its fellow travellers is that it believes the Canadian industry may be in better shape coming out of the COVID crisis, than it was going in. Barclays thinks many Canadian producers will have a superior ability to weather the current price war than over-leveraged U.S. shale producers; it believes a new pipeline from Alberta to the West Coast will be built; and it sees the prospect of Canadian oil sales to the East Coast carried by ship, via the Panama Canal. The world still depends on oil and is likely to do so for many years, according to the International Energy Agency, even if its most recent review suggests demand may suffer in the short run.
This is not to suggest that the industry is in rude health. Suncor was one of many oilsands giants this week to reveal massive losses in the first quarter, joining Canadian Natural Resources, Crescent Point, Cenovus, Husky and others.
Suncor said gasoline demand dropped by half and aviation fuel sales fell by 70 per cent. The sector has already turned off 600,000 barrels per day of production and that number is likely to hit one million. Planned capital spending has been cut across the board in an industry where investment was already around one-third 2014 levels.
The price of Western Canadian Select has stabilized, trading at around $22 on Thursday, but that’s still below break-even for many producers.
But while the energy industry is down, it is not out. This is just as well for the Canadian economy, given it is the country’s largest export industry, responsible for 10 per cent of GDP; employs more than half a million people; and, contributes around $8 billion in tax revenues.
If it was dead, the deleterious effects would ripple beyond the Prairies: Canadian banks, for example, have around $60-billion of exposure in loans to the oilpatch.
May, and Bloc Québécois leader Yves-Francois Blanchet, have shown almost indecent haste in calling for the pandemic to be used as an opportunity to re-orient the energy mix away from Alberta oil. “The pandemic in a very real way, as horrific as it is at many levels, gives us an opportunity to stop and think about how we manage to get this economy back on its feet,” May said. Alberta Premier Jason Kenney said Thursday that May and Blanchet should stop kicking Albertans when they’re down.
But there is considerable sympathy for May’s view in Liberal circles. In his morning press conference, Justin Trudeau said government efforts at spurring recovery will take into account how to “build better” — greener outcomes with less pollution.
The federal budget, when it eventually lands, is likely to be heavy with sustainable-finance measures, policies that might encourage the financing of innovation, clean electricity, retrofits and climate-resistant infrastructure.
But the prime minister was politically astute enough not to gloat about the travails hitting oil producing provinces.
“I don’t share that assessment,” he said, when asked if he agreed with May.
Since April 17th, Trudeau has been talking about help for the oil and gas sector. There has been a $1.7-billion commitment to clean up orphan and abandoned wells, as well as money made available to reduce methane emissions.
But the province has called for the federal government to go further and use its ability to borrow at rock-bottom interest rates to provide a $20-billion liquidity backstop for major producers.
Frustration with the federal government inside Kenney’s Alberta government is usually high, but tempers have shortened from sporadic Happy Gilmore levels to what might be termed Goodfellas.
The belief is that the Department of Finance has pulled together a plan for a liquidity facility that the Prime Minister’s Office has held up for political reasons.
Senior officials in Alberta point out that companies are not looking for a bail-out, just help to withstand a prolonged period of instability.
“Government support signals to the markets the willingness to back this industry. It says ‘we’re the fire department and we have a ton of water to throw on this fire’,” said one senior source.
The federal cabinet appears to be split on whether to help put out a conflagration caused by COVID and the oil-supply overhang created by Saudi Arabia and Russia.
Detractors points out the high carbon content of Alberta bitumen: Stanford University places Canada behind only Venezuela, Cameroon and Algeria in terms of greenhouse gas emissions per unit of energy.
Supporters point out that half the crude extracted in the U.S. has a similar emission level; that the amount of energy used per barrel has fallen 20 per cent since 2011; and that the province has an absolute cap on emissions. If Canadian oil is displaced by product from overseas, it will likely be from a country where environmental activists would not dare to operate.
The bottom line is that the energy industry is in transition — even Kenney admits as much.
But the country needs a functional fossil fuel industry to help fund that shift. It will not happen overnight.
nationalpost.com/news/john-ivison-liberals-best-to-ignore-certain-politicians-who-wish-canadian-oil-were-dead
Liz Mauy and her Greenies are joined by idiot NDPees and LIE-berals in whistling past what they are PRAYING is the
oil biz graveyard!
Too bad the SAPS are not looking at the lines of people champing at the bit and ready to race off and play with their boats and
atv`s and other gas powered toys in Muskoka!
The oil biz STILL HAS A MUCH LONGER LIFE SPAN THAN Our idiot Boy Justin can expect for his POLITICAL CAREER!
Boom baby! Where's Boomer?
COVID-19 Could Spark A Renewable Energy Boom
In the face of multiple crises, governments can kill two birds with one stone by going big on green stimulus, rescuing the economy while also making big cuts to greenhouse gas emissions. But failure to seize the opportunity may mean that we “leap from the COVID frying pan into the climate fire,” according to a group of leading economists.
A new report from the University of Oxford examined over 700 fiscal stimulus policies under 25 umbrella categories. The options were gauged by four factors: speed of implementation, economic multiplier, climate impact potential and overall desirability.
The crisis has “demonstrated that governments can intervene decisively once the scale of an emergency is clear and public support is present,” wrote the report’s authors, which included renowned economists Joseph Stiglitz and Nicholas Stern.
https://oilprice.com/Alternative-En...D-19-Could-Spark-A-Renewable-Energy-Boom.html
COVID-19 Could Spark A Renewable Energy Boom
In the face of multiple crises, governments can kill two birds with one stone by going big on green stimulus, rescuing the economy while also making big cuts to greenhouse gas emissions. But failure to seize the opportunity may mean that we “leap from the COVID frying pan into the climate fire,” according to a group of leading economists.
A new report from the University of Oxford examined over 700 fiscal stimulus policies under 25 umbrella categories. The options were gauged by four factors: speed of implementation, economic multiplier, climate impact potential and overall desirability.
The crisis has “demonstrated that governments can intervene decisively once the scale of an emergency is clear and public support is present,” wrote the report’s authors, which included renowned economists Joseph Stiglitz and Nicholas Stern.
https://oilprice.com/Alternative-En...D-19-Could-Spark-A-Renewable-Energy-Boom.html
What is a "functional fossil fuel industry"?
Is that where everyone gets to share in all the profits from selling this nearly worthless product at massively inflated prices to a public with little choice but to consume it?
The world is telling us that oil and gas is ending its run as a way to propel people and things. It will remain as a standard commodity used to make many thngs - but it will no longer be refined into gasoline in order to fuel the North American commute twice a day. Not only is the fuel being dropped but the commute itself is redone. So much "work" can be done remotely.
Doesn't everyone benefit from the profits now?
Will working remotely be thing in the near future when they audit work productivity as a whole?
Will working remotely be thing in the near future when they audit work productivity as a whole?
Build a house and supply all the materials without using a drop of oil and tell me how that goes.