for Keystone XL
The long list of executive orders signed by President Biden represent a significant shift in policy from his predecessor—and a recognition it has little time to waste.
The cancellation of the Trans Mountain Expansion pipeline would significantly hurt Alberta's oil sands producers, which are struggling with midstream constraints and large discounts for their crude.
Canada's oil market is dealing with transportation constraints while heavy crude producers such as Colombia and Venezuela are seeing output declines and OPEC producers are cutting production.
The world still needs massive investment—all along the supply chain—to keep future price spikes from occurring and for countries to improve their energy security. But many in the industry have become more restrained in making big investments.
Approval from the federal government of two major pipelines, rising oil prices, and a the potential shift on Keystone XL mean that after two years of contraction, optimism has finally returned to Canada's oil patch.
Rather than focus on midstream infrastructure, environmentalists should focus their energy on reducing oil demand if they want to reduce consumption.
Like presidents before him dating back to Richard Nixon, Barack Obama pledged to reduce dependence on crude oil imports and sever the country’s reliance on OPEC oil. But unlike others, Obama saw overall energy security improve markedly during his presidency.
Flagging investment, price and infrastructure challenges, and the coming election are contributing to a grim outlook for Canada's oil industry.
Jeb Bush has rolled out a domestic energy policy focused on cutting regulations and enabling exports of U.S. crude oil and natural gas.
Presidential candidates for 2016 have talked immigration, taxes, jobs, social issues, and foreign policy, but critical energy issues have not been on anyone’s radar.