Survey Finds Strong Canadian Support for Resource Projects
Dale Lunan, Natural Gas News, March 12, 2019
Nearly 80% of Canadians and more than 70% of BC residents are in favor of resource development projects, according to the results of a survey released March 12 by Vancouver-based Research Co. In the online survey, conducted on behalf of LNG Canada between February 21 and February 24, 79% of Canadians and 71% of BC residents expressed support for resource development projects. And 61% of respondents across Canada agreed that they were “tired of nothing getting built” in Canada and BC – a response that swelled to 67% among residents of northern BC. In BC, 63% of respondents expressed concern that the provincial economy would suffer if resource projects couldn’t be built, while 74% of those in northern BC felt the same way. Nationally, 70% of Canadians believe the national economy will suffer if resource projects can’t be built.
Our Take: Polling in Alaska shows a similar result. 70% of Alaskans are in favor of responsible resource development.
Winx well in Alaska disappoints
Anamaria Deduleasa, Upstreamonline.com, March 13, 2019
Australian junior 88 Energy has reported less than satisfactory results from its exploration well on Alaska’s prolific North Slope. The operator, which started drilling operation last month, said work at the Winx-1 well has been completed. However, provisional petrophysical analysis of the wireline logging programme indicates “low oil saturations in the primary Nanushuk Topset objectives”. According to the company, reservoir properties appear to be compromised by dispersed clay in the matrix at Winx-1.
The U.S.-China trade impasse will have to end for U.S. crude exporters to find enough buyers to absorb dramatic annual growth of 1 million barrels per day in U.S. exports over the next few years, a top oil trading executive at commodities trader Trafigura AG said at an energy conference on Tuesday. As markets adjusted to the U.S.-China trade war and U.S. crude shipments to China plunged in recent months, U.S. exports to Europe and India have surged. But much more U.S. crude oil will have to be exported as production surges because domestic refineries have reached a ceiling on the amount of light, sweet crude they can use, Trafigura co-head of oil trading Ben Luckock said during a panel at CERAWEEK in Houston.
Trump’s Secretary of State Wants Energy Companies to Help Spread U.S. Values
Timothy Puko, The Wall Street Journal, March 13, 2019
Secretary of State Mike Pompeo implored a room full of energy executives on Tuesday to help the U.S. use its growing status as an oil and gas superpower to counter foreign rivals and promote free trade and democracy around the world. Speaking to a standing-room crowd at the CERAWeek energy conference here, Mr. Pompeo said countries including Russia and Iran had long used their oil and gas assets to trap weaker nations into subservient relationships. By promoting the trade of oil and gas by companies—American as well as foreign—the U.S. has an opportunity to demonstrate the virtues of a free-market system, he said.
From the Washington Examiner Daily on Energy:
PRO-CARBON TAX GROUPS NOT DISCOURAGED BY MURKOWSKI, MANCHIN RESISTANCE: Groups advocating for bipartisan legislation in Congress for a carbon tax and dividend tell Josh they are not discouraged after Sens. Lisa Murkowski and Joe Manchin would not commit to supporting the plan during appearances at CERAWeek on Monday.
Murkowski, R-Alaska, and Manchin, D-W.V., are two of the senators most independent from their parties, and from their perch leading the Energy and Natural Resources Committee, are crucial to any breakthrough on comprehensive climate change legislation.
“We’re encouraged by these comments,” Mark Reynolds, executive director of Citizens Climate Lobby, told Josh on Tuesday. “Both senators are rightly weighing their options and making sure that any policy they support is a win for their constituents.”
Reynolds and Ted Halstead, CEO of the Climate Leadership Council, noted that Murkowski and Manchin did not rule out eventually supporting a carbon tax and dividend, in which the revenue goes to U.S. households with regular rebates.