Alberta may receive federal aid to help clean up the rising number of oil wells whose owners have gone bankrupt. Read more here.
PSAC Q1 2017 Drilling Forecast is Optimistic
In its first update to the 2017 Canadian Drilling Activity Forecast, the Petroleum Services Association of Canada (PSAC) has revised its forecasted number of wells drilled (rig releases) across Canada for 2017 upwards. Read the entire Q1 update here.
Hope for the Keystone pipeline!
U.S. President Donald Trump signed two executive orders on Tuesday to move forward with construction of the controversial Keystone XL pipeline. Read more about the story here.
Trudeau’s oil sands ‘phase-out’ comments spark anger in Alberta
Prime Minister Justin Trudeau sparked anger and condemnation in Alberta on Friday when he said at a town hall in Ontario that the oil-sands industry needs to be “phased out” as the country transitions to a lower-carbon economy. Read more about his statement in the Globe and Mail here.
Fort St. John Mayor Lori Ackerman buys a full page ad in the Vancouver Sun
On November 30 Fort St. John Mayor Lori Ackerman bought a full page ad in the Vancouver Sun because the paper refused to print her letter to the editor in support of the B.C oil and gas industry. You can read the ad in its entirety here.
OPEC ditches pump-at-will policy and resumes traditional role as price fixer
OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut — and prove the group’s credibility — brought its first cuts in eight years. Crude rose as much as 8.8 per cent in London. Read the full article here.
Trudeau approves Line 3 & Trans Mountain, rejects Northern Gateway
Prime Minister Justin Trudeau today announced the federal government approval of Enbridge’s $7.5 billion Line 3 pipeline project, and the $6.8 billion Kinder Morgan Trans Mountain project. Read the full article here.
Oil Respect
The most signed e-petition ever presented in the House of Commons, since the practice began in 2013, calls on the federal government to champion the oil and gas industry.
Ms. Shannon Stubbs, Member of Parliament for Lakeland (Alberta), officially presented an e-petition in the House of Commons calling upon the federal government to vocally support the oil and gas industry, new pipelines across Canada, and hundreds of thousands of employed and unemployed oil workers. The petition was signed by 34,537 Canadians from across the country and represents one of the highest signed House of Commons e-petitions in history.
Visit the following Oil Respect links for more information and to sign new petitions as they are started.
Climate change policies exacting a painful economic toll
The consequences of the Alberta NDP’s climate change policies are bearing their inevitably poisoned fruit. Read the full article here.
There May Be Reason For Hope.
How far can oil rally? Some investors think oil prices could go back over $100 a barrel. Read the story here.