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 [...]
It is getting harder and harder to see where tomorrow’s global growth will be coming from. Job creation in the U.S. has come to a screeching halt. Growth in the Eurozone has done the same. And a still irradiating Japanese economy continues to stagnate, while an emerging energy crisis has suddenly sparked plans to start [...]
James Hansen, NASA’s lead climate scientist, says if TransCanada Pipeline’s Keystone XL mega-project connecting Alberta tar sand producers to Gulf Coast refineries is approved, it is game over for the planet. It certainly won’t be game over Alberta’s oil patch or the thousands of North American steel workers who will build the massive pipeline. And [...]
With the sudden collapse of the Qaddafi regime in Tripoli, the oil industry is hoping it can repair enough of Libya’s damaged export terminals, pumping stations and pipelines to get as much as one million barrels a day of oil flowing into the market within the next six to 12 months. But as I have [...]
Ever since the North American Free Trade Agreement was implemented in 1994, Canada’s economic compass has been pointing south. But with U.S. oil prices more than $20 below world levels, an American auto market nearly 50% cent smaller, and a broke and dysfunctional Washington that is dependent on the People’s Bank of China for funding, [...]
It is not that difficult to discover who is the most concerned about Standard & Poor’s recent downgrade of the United States’ coveted AAA credit rating. The People’s Bank of China owns more Treasury bonds than anyone. All of a sudden, the liquidity of the U.S. Treasuries market no longer looks so appealing for the [...]