Volume 0% WATCH ABOVE: Premier Jason Kenney says the Alberta government is predicting extremely low oil prices will remain in place for 12 to 18 months due to the global inventory oversupply amid the COVID-19 pandemic slowdown. Alberta — long known as Canada’s central hub for both beef and oil — has seen both those […]
Read MoreExperts say COVID-19 is being used as an opportunity to grant companies carte blanche waivers on ‘routine’ reporting for everything from sulphur dioxide emissions to water withdrawals for fracking to how much wastewater is being added to tailings ponds Earlier this month, citing the unfolding coronavirus pandemic, the Alberta government unveiled a series of sweeping […]
Read MoreTC Energy Corp. oil storage tanks are seen in Hardisty, Alberta. Investment guru Stephen Jarislowsky agrees with my proposal that the United States and Canada should ban all foreign oil imports to protect our domestic market, and fix prices for the benefit of consumers and producers. He considers the OPEC price war and subsequent price […]
Read MoreActive pump jacks stand in Midland, Texas, U.S, on Thursday, April 23, 2020. The price for the U.S. benchmark for crude oil, West Texas Intermediate, dropped below zero for the first time in history this month amid a global oil glut. Bloomberg/Matthew Busch Oil is back under pressure this morning, last seen down more than […]
Read MoreCanada’s energy industry needs exceptional measures to deal with damage from the pandemic and “economic warfare” that caused oil prices to plummet, said National Bank of Canada’s long-time chief executive officer, Louis Vachon. Global oil prices began a historic crash in early March when Saudi Arabia and Russia failed to renew a production-cut pact that […]
Read MoreOTTAWA, April 17 (Reuters) – The Canadian government is set on Friday to announce long-awaited measures to help the oil and gas industry, which has been hard hit by low prices and the coronavirus outbreak, the Canadian Broadcasting Corp. said. The CBC did not give details. Prime Minister Justin Trudeau is due to hold a […]
Read More(New throughout; adds strategists comments and updates prices) * Canadian dollar falls 0.1% against the greenback * Loonie weakens 0.8% for the week * Canada plans to help small businesses with rent payments * Canadian bond yields trade mixed across a flatter curve By Fergal Smith TORONTO, April 24 (Reuters) – The Canadian dollar weakened […]
Read MoreCanada’s stellar credit rating is being put to the test as the oil crash and recession expose the country’s weak link: its provinces. Among the Group of Seven countries, only Germany and Canada have AAA ratings from S&P Global Ratings. But as pressure rises on the government of Justin Trudeau to aid provinces and key […]
Read MoreCanada’s ‘economy won’t go back to normal’ until we have a vaccin… Not hearing anything ‘optimistic’ from Calgary businesses right n… Trudeau expanding business loan program, working on rent supports… Canada’s stellar credit rating is being put to the test as the oil crash and recession expose the country’s weak link: its provinces. Among the […]
Read MoreVolume 0% Coronavirus outbreak: What negative oil prices mean Crude awakening: Oil prices plummet to negative territory Crude oil futures prices turn negative for the first time in history Oil prices dive below zero as Saskatchewan producers slash budgets Kenney responds to negative value Canadian oil Western Canadian Select oil price dips below zero, WTI […]
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