Rumour has it that many a curious cat has met its demise… just for being curious.
Now I’m no cat, but I am curious and do still have a pulse, which is good!
Over the last 16 pandemical months, I have noticed that a national newspaper that claims to have this country’s larges circulation, posts obituaries in 14 of its 18-page Saturday so-called business section.
I get the feeling that the editor of this ever so left leaning publication, has pre-written the obit for the oil industry and will hit the “print” button at a moment’s notice. This editor is just waiting for the right moment, or should I say… election.
Political leaders on both sides of our border are feverishly digging a grave in preparation for the big day when Big Oil can be laid to rest forever in the Big Dig.
The eco activists’ and energy transitionalists’ will rush to get front seats at the ceremony, but they might be forced to ask for a refund because rumours of the death of the oil industry may be premature.
As the author of the petroleum section of this report, one may expect the written word would show bias toward the future of the fossil fuel industry.
I would fit the definition of a cynic when comparing fossil with so called renewable energy sources. Truth is, I am a cynic being a pessimistic realist.
I agree with the realists’ whispers when it is claimed that the sun is about to set on the refining industry. But until the sun shines 24/7 and the wind stays windy all day long, we are a long way from the dusk period of the oil industry.
Until such time as someone can explain how we can replace enormous crude oil reserves with copper and lithium when there are more proven crude oil reserves than the battery alternative metallic sources, then the oil funeral is still at least 10 to 15 years into the enlightened future.
Despite the fact that this country’s leader has coffinated a trio of pipeline projects (XL, Energy East and Northern Gateway), and has adopted a shrugging “no comment” stance on the critical Line 5 that serves his Ontario electoral base, the same cannot be said of the actions taken by our neighbours to the south.
The Keystone XL was first proposed in 2008 and is now dead thanks to our southern influencer.
Since that time, the U.S. has built 51,140 miles of petroleum product pipelines, including 33,000 miles for crude oil transport.
That means the XL was cancelled by our only customer, and then they went ahead and built the equivalent of 28 Keystone XL’s!
If the oil industry is dead, may I suggest that for the time being and foreseeable future it’s obituary be taken out of the business portion of the paper and moved to the comics section?
– Roger McKnight – B.Sc., Senior Petroleum Analyst
Add comment