On Aug 17 you have the chance to speak out against the pipeline expansion https://t.co/MylvZIV55C #NWTR

— City of Vancouver (@CityofVancouver) August 8, 2016

Have your say. Tell them what you really think.

Rigzone;

Two of the three largest oil rig operators and frackers are considering pulling back from the North American market as losses mount.
Schlumberger Ltd. — after posting its first North American operating loss since at least the turn of the century, according to Barclays Plc — is evaluating whether it’s worth temporarily shuttering its business in the region. Baker Hughes Inc. said Wednesday it has decided to limit its exposure to unprofitable onshore fracking work in North America because of the “unsustainable pricing.”
It’s the first time in at least a decade that those companies and Halliburton Co., the big 3 in oil services, all lost money in the region during the first three months of the year, according to Bloomberg Intelligence.

It’s ok. Venezuela could never happen here.

Share it far and wide.

Via Rigzone;

Petroliam Nasional Bhd.’s proposal to build a liquefied natural gas terminal on Canada’s Pacific Coast faces further delay as the minister responsible prepares to declare it will likely have a significant environmental impact, according to people familiar with the matter.
Environment and Climate Change Minister Catherine McKenna will refer a verdict to Prime Minister Justin Trudeau’s cabinet rather than approving the C$36 billion ($27 billion) project with conditions, said to two officials who spoke on condition of anonymity because the decision isn’t yet public. The government’s review period ends March 22 but the cabinet has no deadline for its deliberations.
The Pacific NorthWest LNG decision is among the first tests of the Trudeau government’s handling of energy and climate issues. Earlier this year, it overhauled the environmental-review process to consider greenhouse-gas emissions from proposals and boost the role of cabinet in approvals. Liquefied natural gas proponents in Canada were already playing catch-up with global competitors before the oil-market collapse brought down LNG prices and caused companies to crimp spending on megaprojects.
“This is going to be widely watched as a barometer on the government’s interest in supporting what is the driver of the Canadian economy, which is energy,” said John Stephenson, chief executive officer and founder of investment firm Stephenson & Co. in Toronto. Petronas could abandon the project if the government imposes costly conditions on development, he said. “Any hiccup from the government’s side, I could see these guys walking.”

h/t Adrian
Related:

Trudeau says Bombardier has a new plane that is like REALLY good and how else will they sell it without $1 billion in government money?

— Justin Ling (@Justin_Ling) March 17, 2016

National Energy Board – Record high crude oil imports from the U.S. push Canadian oil imports to a three year high…

Saudi Arabia sentences a man to 10 years in prison and 2,000 lashes for expressing his atheism on Twitter

G. Allen Brooks;

In the case of greenhouse gas emissions, the Ontario Energy Board commissioned research that calculates that Energy East will increase carbon emissions in Canada by less than 2%. Will the Trudeau government apply a similar standard of no increase in carbon emissions from the operation of a pipeline such as President Barack Obama did when evaluating the construction permit application for Keystone? In that case, the U.S. State Department environmental review concluded there would be no increase in carbon emissions, yet Mr. Obama still rejected the application, mostly on political grounds. If Prime Minister Trudeau follows President Obama’s lead, Energy East is in trouble.
The decision to revise the approval standards to include greater input from indigenous peoples will further compound the approval hurdles for pipelines in Canada. Some of the leaders of First Nations from British Columbia, Manitoba and Quebec have already criticized the Trudeau proposal as “modest.” These leaders stressed that the federal government needs to be prepared for rejections of pipeline proposals that cross the lands of these aboriginal people. While approvals are likely to still be earned, the bargaining power of the First Nations has been increased, meaning that the price to gain their approvals has increased significantly, probably lengthening the time needed to negotiate agreements.
Canada’s economy may slip into a recession this year as a result of the drop in natural resource prices and the resulting impact on the health of these industries. Nearly a year ago, the election of the NDP in Alberta created significant concern about the damage that could be done to the oil and gas business by the increase in corporate taxes and a royalty review that was anticipated to raise these rates. The decision not to raise rates now but only when the industry is projected to be in recovery and the rates are to be established to match profitability has been welcomed by the oil and gas industry. To some degree, the fact that the government is local and can see the condition of the industry may have shaped the royalty review outcome. With the Trudeau government half a continent away from Alberta and more concerned with its liberal agenda, the new pipeline review standards are destined to delay and possibly derail many pipeline and energy projects. This new policy could condemn Canada’s economy to a low-growth future. There will be a price paid by the Canadian people, but those who voted for the Liberal Party may not realize for a long time how painful their future may become, and then after it is too late to easily correct these policy mistakes.

h/t Adrian

Because I’d go on a long, long vacation.

“From our perspective, this was more a case of political grandstanding and a not so subtle move to wrestle control of natural resources away from the province,” AltaCorp Capital analyst Dirk Lever said in a strongly worded note to clients on Thursday. “Where is the next Peter Lougheed?”

At the always useful Energy Matters: Low oil prices, budget deficits and OPEC.

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Oil Production Vital Statistics, November 2015.