Friday, May 20, 2022
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • Executive Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • Executive Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

The world needs more Canadian crude

in Opinion
- the world needs more canadian crude
Share on FacebookShare on Twitter

While Canada’s oil industry has faced output hiccups as a result of environmental protesters and wildfires, there are many risks it won’t face.

The attack on a Saudi Arabian oil field Saturday is still sending reverberations through markets, and it could have long-term implications for much more than just the price of crude. Just about every market was moved by the attack amid fears or hopes of how it could reprice assets.

Oil prices certainly saw the biggest move, with US WTI crude futures rising by 15%, the largest uptick since 2008.

Stock prices fell, with the Dow, S&P and Nasdaq all ending the day lower. Airlines were hit hard as JetBlue and United Airlines both fell nearly 3% while American Airlines dropped 7.3%.

Energy stocks, on the other hand, had their best day of the year, with the S&P Oil & Gas Production ETF jumping almost 11%, and the S&P energy sector rising out of a bear market with its best session of 2019.

Yields on the benchmark 10-year Treasury note fell by the most in 3 weeks, as traders sought safe haven US government debt. Gold prices also jumped 1%.

Saudi officials also said they may delay an IPO for state oil company Saudi Aramco as a result of the attacks.

Canada responds 

Alberta Premier Jason Kenney, whose province produces more oil than most OPEC nations, has a message for environmentalists, investors, and anyone else who will listen: The world needs more Canadian crude, and standing in the way is foolish.

Kenney’s United Conservative Party swept to power in April. He’s traveling to New York and Ohio this week and planning trips to the UK, Germany, and possibly Asia in the coming months to tout the benefits of Canadian oil, which he says has gotten a bad rap from critics who have unfairly demonized Alberta’s oilsands. Against the backdrop of a drone attack in Saudi Arabia that idled 5% of global oil production, Canada offers a safe, secure, and socially responsible source of energy, Kenney said.

Alberta produces almost 3.8 million barrels of oil a day, trailing only Saudi Arabia, the US, and Iraq.

The US visit represents Kenney, 51, following through on a campaign promise to go to bat for Alberta’s oil industry, whose oilsands have become a target of environmentalists concerned about greenhouse gas emissions. Kenney has also started a C$30 million “war room” to combat misinformation about the province’s energy industry.

Kenney has likewise touted environmental advancements made in Alberta that have lowered the emissions intensity of projects and said exporting Canadian natural gas and having it displace coal in China could be a top strategy for combating climate change.

Tags: Canadian crudeCEOCEO North AmericaCEO Northamoiloil industry

Related Posts

Ignoring ai is risky business for insurance ceos
Opinion

Ignoring AI Is Risky Business for Insurance CEOs

Work will never be the same—savvy business leaders are adapting to change that’s already here
Opinion

Work Will Never Be the Same—Savvy Business Leaders Are Adapting to Change That’s Already Here

Resilient austin becomes hot spot for the economic growth
Opinion

Resilient Austin Becomes Hot Spot for the Economic Growth

Hybrid hiccups: moving to distributed work in the public sector
Opinion

Hybrid Hiccups: Moving to Distributed Work in the Public Sector

What’s possible for the gaming industry in the next dimension?
Opinion

What’s Possible for the Gaming Industry in the Next Dimension?

Developing a digital mindset
Opinion

Developing a Digital Mindset

What utilities can do to secure the emobility future — and their own
Opinion

What Utilities Can Do to Secure the eMobility Future — and Their Own

Digital access for all
Opinion

Digital Access for All

How can you create a growth strategy where everyone wins?
Opinion

How Can You Create a Growth Strategy Where Everyone Wins?

Is crypto’s volatility bad for the financial system?
Opinion

Is Crypto’s Volatility Bad for the Financial System?

No Result
View All Result

Recent Posts

  • Russia Halts Gas Supplies to Finland
  • McDonald’s to Sell Restaurants to Russian Operator
  • Vintage Mercedes Sells for $143 million
  • Ignoring AI Is Risky Business for Insurance CEOs
  • UNWTO Launches Digital Futures Programme for SMEs

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Executive Interviews
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    CEO Latin America | ES

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

     

    AUSTIN

    600, Congress Avenue 14th Floor
    Austin, TX.
    78701
    USA
    +1 512 649 0340

    NEW YORK

    387 Park Ave South,
    New York, NY.
    10016
    USA
    +1 212 796 64 15

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • Executive Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?