by Charlie Smith on February 8th, 2021 at 7:58 AM 1 of 1 2 of 1
Demand for petroleum continues rising.
And that s pushed the price of Brent crude oil above US$60 for the first time since the beginning of the pandemic.
West Texas Intermediate crude is currently trading at US$57.79, whereas Western Canadian Select is at US$45.35, according to Oilprice.com.
Natural gas prices have also been rising amid cold winter temperatures, crossing the US$3 per million British thermal units benchmark last week. And last month, LNG spot prices in Asia spiked to record highs, crossing US$21 per million BTUs.
Rising oil prices have been associated in the past with a rising Canadian dollar.
iPolitics By iPolitics. Published on Feb 5, 2021 12:14pm A windfarm (Pixabay photo, from Pexels)
A number of companies around the world have struck wind energy deals.
Canadian Power Holdings Inc., a power investor company, has acquired Okanagan Wind, which operates two wind farms in southern B.C. The Calgary-headquartered company closed the deal for the renewable energy operator for more than $100 million, the Globe and Mail reports. The wind farms, together currently have a generating capacity of 30 megawatts, and the electricity it generates is bought by BC Hydro.
In Quebec, Premier François Legault’s government announced that a new $600 million wind power development called Apuiat has received the green light. The project is owned by Boralex Inc., and is located near Port-Cartier. The power development will deliver 200 megawatts of electricity a year and will be sold to Hydro-Québec.
The Drilldown: Exxon Mobil announces carbon-capture investment By iPolitics. Published on Feb 2, 2021 1:12pm
The Lead
Exxon Mobil has created a division to commercialize its technology that helps reduce carbon emissions, and announced a plan to invest $3 billion in lower-emission solutions through 2025. The company said it would first work on capturing carbon-dioxide emissions from industrial plants, and sequestering the gas so it doesn’t enter the atmosphere and contribute to global warming.
“We have the expertise that can help bring technologies to market and make a meaningful difference,” said Exxon Chief Executive Darren Woods.
Many climate experts believe carbon sequestration will be critical in the fight against global warming.
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iPolitics By iPolitics . Published on Jan 28, 2021 1:04pm (Joe Biden/Twitter)
The Lead
President Joe Biden signed a slew of executive actions on Wednesday aimed at fighting climate change, which included halting new oil and gas leases on federal land and the cutting of fossil fuel subsidies, Reuters reports.
“In my view, we’ve already waited too long to deal with this climate crisis,” Biden said at a White House ceremony, highlighting the threats the nation faces from extreme weather changes linked to climate change.
Meanwhile, reactions to Biden’s executive orders have been mixed, according to BNN Bloomberg.
“The era of putting polluters’ profits first is over,” said Josh Axelrod, senior advocate for the nature program at the Natural Resources Defense Council. “We can’t lock our children and grandchildren into decades more of the dirty fossil fuels of the past, and all the hazards and harms they bring to our public lands, oceans and coastal comm