The potential cost is hundreds of millions of dollars in royalties that must be paid
Two weeks after Bay du Nord received environmental approval, the Canadian and Newfoundland and Labrador governments were arguing about who would foot the bill. The project promoted as the answer to Newfoundland and Labrador’s economic woes could end up costing hundreds of millions in revenue. Some backstory: according to the United Nations Convention on the…
Energy security is back on the global agenda. Not long ago, energy security was almost taken for granted by all. With the emergence of new energy frontiers over the last decade and a half – including shale oil and gas and the growing emphasis on renewables in the Americas – it was felt that energy…
The sector will be critical to Canada, and the world, for decades to come
The idea of the need for a “just transition” for Canadian oil and gas workers is based on the false narrative that global demand is now decreasing and, therefore, Canada’s industry will no longer be profitable or essential in the very near future. This is not true. Oil and gas will continue to be critical…
Already a steady supplier and can grow significantly if major projects get the go-ahead
Europe needs new suppliers to get off Russian oil and maintain energy security in the long term. Newfoundland and Labrador’s offshore oil industry is already a steady supplier and can grow significantly if major projects get the go-ahead. “We have the potential certainly to be producing more,” says Paul Barnes, Atlantic Canada and Arctic director…
The relief we’re seeing from market manipulation could fade soon
Bearish sentiments continue to overshadow the crude oil markets. Despite a small spike at the tail end, prices registered a back-to-back retreat last week. Several factors are in play. The announcement of the release of 180 million barrels of crude from the United States Strategic Petroleum Reserves (SPR) over the next six months played a…
Oil tankers off West coast are bad but drilling for oil off Newfoundland's coast is OK
We all know politics is the art of the possible. Perfection isn’t for the real world. We aren’t surprised when tradeoffs and the occasional compromise creep into government policies. Nor do we require elected members of government, even at the ministerial level, to be experts in their portfolio areas, although we expect them to avail…
Western leaders are acting in ways that make your cringe: It's like watching an out-of-control teen at their first party
People have been asking for my thoughts on the recently announced federal climate plan. I shrug. I ask them what their thoughts are on the Iowa State Fair Hog Calling Regulations. I’m indifferent. I know I should care, but what’s the point? The feds throw something at us; we have to work with it. We…
Today's guest, David Parker, discusses among other things, the importance of aligning political will, the truth and the public
The series was produced by KEI Network for Troy Media. We welcome your comments below. Bios of our moderator and today’s guest: Eric Newell Moderator Eric Newell’s career began with Imperial Oil and Esso, where his skills as an engineer and manager made him a valuable asset. He was frequently sent “on loan” to sites…
Canada is the solution to reliable, affordable, responsible energy security
The federal government’s plan to require a 42 per cent reduction in emissions from Canada’s oil and gas sector by 2030 is based on assumptions divorced from reality and will ultimately hurt Canadians. Setting aggressive targets to cap and reduce the sector’s pollution – while no other major producing nation does the same – is…
Our second episode in our 10-part series on decarbonization features Hal Kvisle, former CEO of Talisman Energy
The series was produced by KEI Network for Troy Media. We welcome your comments below. Bios of our moderator and today’s guest: Eric Newell Moderator Eric Newell’s career began with Imperial Oil and Esso, where his skills as an engineer and manager made him a valuable asset. He was frequently sent “on loan” to sites…
Economic benefits crucial to the Newfoundland and Labrador economy
With the market prices of hydrocarbons soaring, accelerated by the Russian invasion of Ukraine, the federal government is once again extending the deadline for making a decision about the future of the Bay du Nord project off the shore of Newfoundland. Division within the Prime Minister’s Office on this project is certainly one of the…
It won’t be easy because Canada lacks the infrastructure to ship oil or gas to Europe directly
With serious endeavours to reduce dependence on Russian energy supplies underway, global energy markets are faced with a real challenge: where will the oil come from to fill the emerging supply shortfall? As part of their efforts to punish Russia for its Ukraine misadventure, Western countries are trying to cut off their dependence on Russian…
As wildfires destroy whole communities, coastal towns lose their shorelines and fisheries, and half the world’s population faces dangerous climate impacts, a contentious project sits before the Liberal cabinet. Bay du Nord is a proposed oil development 500km off the coast of Newfoundland and Labrador. Industry lobbyists assure us of “green oil production,” low environmental…
The first episode in our 10-part series on decarbonization
Our guest, Dennis McConaghy, makes a strong case for Canada to set “adaptation” as a national goal, disbelieving that containing a 1.5-degree increase in the global temperature by 2050 can be achieved. He argues that attaining Net-Zero emissions through decarbonization has unacceptable costs and is not achievable. He argues that balancing imports/exports and setting a punitive…
Access to stable and affordable energy from Canada is important to the Free World
Canada’s chattering classes – often more accustomed to playing the ineffectual dovish role – are rushing to prove their outrage over Russia’s invasion of Ukraine and demonstrate their resolve to make Russian President Vladimir Putin pay. However, these are often the same people who opposed Canadian gas pipelines, which could help fellow NATO countries. The…
Two weeks after Bay du Nord received environmental approval, the Canadian and Newfoundland and Labrador governments were arguing about who would foot the bill. The project promoted as the answer to Newfoundland and Labrador’s economic woes could end up costing hundreds of millions in revenue. Some backstory: according to the United Nations Convention on the…
