On the same day the Obama Administration put the kibosh on the Keystone XL pipeline, two engineering contracts totaling $12.2 billion were awarded to two U.S. companies for work in the Alberta oil sands. One included a $750 million contract to a Chicago-based company for work on Exxon’s huge Kearl Oil Sands project, one of [...]
On the same day the Obama Administration put the kibosh on the Keystone XL pipeline, two engineering contracts totaling $12.2 billion were awarded to two U.S. companies for work in the Alberta oil sands. One included a $750 million contract to a Chicago-based company for work on Exxon’s huge Kearl Oil Sands project, one of [...]
Can we still expect to see sustained economic recoveries when oil, the world’s principal source of energy, is trading in triple digit range? As I argued several years ago in my book, “Why Your World Is About To Get A Whole Lot Smaller”, triple digit oil prices will redefine our notion of an economic recovery [...]
Will the PIIGS sink the euro or will the European monetary union jettison the PIIGS? As the stakes get ever higher, we are rapidly approaching the end game for the European debt crisis. With the spectre of default now hovering over major European economies such as Italy and Spain, the potential liability for German and French [...]
Record low interest rates and record high debt levels are a marriage that history tells us won’t last long. This is a lesson European bondholders have already learned. And it is one that will likely unfold in the U.S. Treasuries market, the supposedly safe haven from the panic gripping European bond markets these days. In [...]
Facing growing political and environmental opposition in the U.S. to the proposed Keystone XL pipeline, Canada’s landlocked options for exporting its oil have never appeared more costly. Not only has deadheaded oil in Cushing Oklahoma, the present terminus of the pipeline, put a crimp on expansion plans in the oil sands, but the ballooning price [...]