Showing posts from December, 2014

Canadian Pipelines in Purgatory

By: Mike Doyle, CAGC Keystone XL is a proposed 1,897-kilometre pipeline that would carry crude oil from Hardisty, Alberta to Steele City, Nebraska, where it would link up with other pipelines that run to the Gulf Coast and the U.S. Midwest. The pipeline would carry an average of 830,000 barrels of oil per day to refineries in the Midwest and the Gulf Coast. TransCanada (TSX:TRP) would develop the US$5.4 billion pipeline. In May 2012, the company filed a new application for a presidential permit — a requirement for any cross-border pipeline —after the U.S. State Department denied its first application. The Canadian Energy Research Institute estimates that Keystone XL will add $172 billion to the United States’ gross domestic product by 2035. Earlier this year, the State Department put off its decision again, pending the outcome of a court fight in Nebraska over the proposed route. A decision is not expected before next year.  However, last week’s midterm elections, which lef

Analyzing the Downturn (of Oil) - Only Market Forces Will Increase Oil Prices and OFS Activity

From MNP, Oilfield Service News, December 1st, 2014 By: David Yager, National Leader, Oilfield Services There was a time when the Organization of Petroleum Exporting Countries (OPEC) truly did control world oil prices. As producers of the greatest quantities of the world’s cheapest oil, OPEC – particularly Saudi Arabia – possessed what had come to be known as “swing” production. While the rest of the world produced every possible barrel, OPEC could adjust production and therefore prices. Increase production and prices would decline. Decrease production and prices would rise. Those were the days. No longer.  At 30 million b/d OPEC only produces about a third of the 90 million barrels a day of the oil the world produces and consumes daily. The United States, Russia, Canada and China combined now produce as much oil as OPEC. With the exception of Russia, these other countries are not as dependent upon oil to power their economies as the 12 members of OPEC. The United States and Chin

A Moral Case for Fossil Fuels

Recorder Article by: Mike Doyle, President of the CAGC – the Canadian Association of Geophysical Contractors - representing the business interests of the seismic industry within Canada. The CAGC website may be found at . It is time to defend ourselves against the anti (Canadian) Oil Interests. The new President/CEO of CAPP, Tim McMillan, says he wants to mobilize the silent majority of energy consumers to speak on its behalf as the industry looks to counter the environmental groups’ campaigns against major pipeline projects. “I want to convert you from being an energy consumer and endorser to becoming an energy advocate and energy citizen.” Cody Battershill of Canada Action says it is time to Balance the Conversation on Canadian Oil & Gas - The # oilsands are a major contributor to the prosperity of our country! When you attack our energy you attack us. Alex Epstein has recently put out a book from which I take the final chapter as below.