Marine oil spills can be extremely difficult to deal with. In the sea of Cardiff, Wales engineers from a European research project are testing a new prototype that cleans oil spills quickly, efficiently and more cheaply than existing methods. “What we’ve developed is a net which can float on the surface of the water, without […]
Oil price downturn has potential to bring out best in the industry
The plunging price of a barrel of oil has the industry in North America and other parts of the world scrambling to cover costs. At the World Heavy Oil Congress now underway in Edmonton, Alberta, those in attendance heard from ARC Financial Corp’s VP, Jackie Forrest that companies “are at the threshold or below where they need […]
Comment: Monopoly – it’s not just a game
The website Wall St. Cheat Sheet recently posted this article – 3 Industries Run by Cartels. Normally when we hear the word cartel, many of us would think illegal drugs, but that is not included in the articles top 3. 1. The oil industry The oil industry has always been amenable to cartels and monopolies. […]
Comment: Why oil prices are down
A historic change of roles is at the heart of the clamour and turmoil over the collapse of oil prices, which have plummeted by 50 per cent since September 2014. For decades, Saudi Arabia, backed by the Persian Gulf emirates, was described as the “swing producer.” With its immense production capacity, it could raise or […]
Comment: Perils of OPEC being able to control oil prices
preamble: when it comes to Alberta oil and pipelines you often hear those in favour – especially in the U.S. – saying it’s important to they get their oil from a friendly government rather than relying on those in the Middle East. If you ever wanted proof of that, take a look at what OPEC […]
Comment: Foreign money working against pipelines
Now Northern Gateway has been approved by the federal government, it’s time to turn the page and wait for U.S. President Barack Obama to approve the Keystone XL pipeline. Obama’s supporters come from several interest groups, and the environmentalist movement is one of the largest. It contributed millions of dollars to his campaign, with the […]