The Ukraine crisis revealed just how narrow the global oil supply margin has become. Read more
Play Video
Western countries were already producing at full capacity — except for Canada, that is, though we have the world’s third largest oil reserves. Urgent calls went out for Canada’s help in lifting Putin’s stranglehold on oil supply. But to no avail: Prime Minister Justin Trudeau had presided over a seven-year anti-oil industry pogrom, thwarting multiple export pipelines that could have helped supply countries now dependent on Putin’s blood oil.
World oil prices soon skyrocketed to a staggering US$120 per barrel. Though they have since fallen the International Energy Agency projects world oil demand will rise by one million barrels per day annually. The global oil supply/demand margin will continue to be narrow, with virtually all of it in the hands of OPEC+. Oil still fuels over 95 per cent of all transportation of goods and people, with no viable alternative in sight.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tessa Virtue reveals she's engaged to Toronto Maple Leafs defenceman Morgan RiellyTwo of the most famous Canadian skaters are engaged.
Read more »
Tessa Virtue reveals she's engaged to Toronto Maple Leafs defenceman Morgan RiellyRetired ice dancer Tessa Virtue revealed her recent engagement to Toronto Maple Leafs defenceman Morgan Rielly during a podcast released on Tuesday.
Read more »
Skating legend Tessa Virtue confirms engagement to Leafs defenceman Morgan Rielly“So long, 2022 … you were a special one.”
Read more »
Russia says Ukrainian rocket strike kills 63 Russian troopsRussia deployed multiple exploding drones in another nighttime attack on Ukraine, officials said Monday
Read more »
Russia says Ukrainian rocket strike kills 63 Russian troopsRussia deployed multiple exploding drones in another nighttime attack on Ukraine, officials said Monday
Read more »
Ukraine war: Rocket strike kills 63 Russian troops, Moscow saysUkrainian forces fired rockets at a facility in the eastern Donetsk region where Russian soldiers were stationed, killing 63 of them.
Read more »