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OPEC

Friday November 18, 2022

November 18, 2022 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday November 18, 2022

Canada won’t back call at COP27 to ‘phase down’ oil and gas production

Canada won’t agree to add language calling for the phaseout of all fossil fuels — including oil and gas — to the final agreement at this year’s United Nations climate talks in Egypt, Environment Minister Steven Guilbeault said Thursday.

November 10, 2021

The agreement from the UN conference in Scotland last year called for countries to move faster to get rid of coal-fired electricity plants that are not abated with technology to capture emissions. It was the first time a COP pact included any reference to reducing any kind of fossil fuel use.

India spent the last two weeks of COP27 negotiations pushing to add oil and gas to that paragraph in this year’s final pact.

The European Union said it was supportive of the idea as long as it does not weaken the language on coal. United States climate envoy John Kerry said the U.S. was on board as long as it applies only to “unabated” oil and gas.

But there was no sign of any such language in the draft text of the COP27 pact released Thursday. The final draft was still being negotiated as the two-week climate talks near their final day Friday.

Canada backed the coal language last year, but Guilbeault said it’s not open to adding oil and gas to the pact this year.

April 11, 2018

During a one-on-one conversation in Egypt Thursday with Climate Action Network Canada’s national policy Caroline Brouillette, Guilbeault said Canada’s focus is on regulations and policies that curb greenhouse gas emissions, like regulations on how much methane oil and gas producers can emit.

It’s also focusing on reducing demand for fossil fuels with policies that promote energy conservation alternatives, such as electric vehicles, clean power and more efficient buildings.

He said if Canada backed the addition of oil and gas phaseout language it would prompt pushback from the provinces, including in court.

“Everything we do is challenged in the court,” he said. (Carbon) pricing was challenged, our plastic pollution regulations were challenged, our environmental impact assessment is being challenged — either by provinces or companies, or both. And if we’re not on very solid legal ground, we will lose in front of the tribunals and that doesn’t help anyone.“

October 28, 2021

Guilbeault said Canada hasn’t been challenged over plans to phase out coal, but is on almost everything it does on the oil and gas side.

“We have to be super careful in terms of what we do … that what we do will hold in court,” he said. “Otherwise we’re wasting time, and precious time, to fight climate change.”

Julia Levin, national climate program manager for Environmental Defence, called that a disappointing excuse.

“I’d say it’s clear that the government of Canada is beholden to fossil fuel lobbyists and putting their interests ahead of public welfare,” said Levin.

She added that Canada’s position is strange, considering the agreement would likely have included the same abatement provision as coal. While Levin doesn’t back carbon capture and storage as a serious solution to cutting emissions, she said even that would be “a clear signal that, according to the U.S. and others, the age of oil and gas is over.”

November 4, 2021

The Canadian Association of Petroleum Producers, meanwhile, said getting lower-emission oil and natural gas to international markets is paramount for its members.

“As global demand for natural gas and oil will remain strong for decades, Canada has a role to play in providing safe and lower emission resources to the world’s energy mix,” said Lisa Baiton, CAPP’s president and CEO, in a written statement.

The hope in Egypt is that countries would reach a consensus on action to cut greenhouse gas emissions enough to still make it realistic to reach the goal of limiting global warming to no more than 1.5 C. (The Peterborough Examiner)

From sketch to finish, see the current way Graeme completes an editorial cartoon using an iPencil, the Procreate app, and a couple of cheats on an iPad Pro … These sped up clips are posted to encourage others to be creative, to take advantage of the technology many of us already have and to use it to produce satire. Comfort the afflicted. Afflict the comforted.

https://mackaycartoons.net/wp-content/uploads/2022/11/2022-1118-INTshort.mp4
Posted in: International Tagged: 2022-39, climate change, climate crisis, Cop27, environment, fossil fuels, gas, gasoline, lobby, oil, OPEC, procreate, Sharm el-Sheikh

Wednesday January 14, 2015

January 13, 2015 by Graeme MacKay

Wednesday January 14, 2015Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday January 14, 2015

The Dominoes Fall Toward Harper

Updated forecasts by TD Economics project that the Conservative government will be in deficit for two years longer than originally planned due to the sudden drop in oil prices and the impact of tax cuts announced in the fall.

Rather than a $1.9-billion surplus in 2015-16 as outlined in Finance Minister Joe Oliver’s fall fiscal update, TD Economics is projecting a $2.3-billion deficit, followed by a $600-million deficit the following year. The return to surplus would be pushed back to the 2017-18 fiscal year.

However, the report cautions that the government has put aside $3-billion a year for unforeseen events and that amount could still be enough to post slim surpluses in the coming years. It would not be enough, though, to allow the government to announce major new spending in the 2015 federal budget. (Source: Globe & Mail)

Meanwhile, the Conference Board of Canada is predicting that Alberta will slip into a recession before the end of 2015.

It says the plunging price of oil is impacting all areas of the economy from corporate investment and hiring to consumer spending.

“The province is certain to suffer, especially on the employment front, from the drop in oil prices — and it is likely to slip into recession,” said a report by Conference Board of Canada economist Daniel Fields.

During Alberta’s last recession, roughly 30,000 jobs were lost and housing starts fell by 75%. If prices do not recover soon, Alberta could take a similar hit, according to the Conference Board. (Source: CBC News)

Posted in: Canada Tagged: Alberta, Canada, Deficit, oil, OPEC, prices, recession, sands, Stephen Harper

Tuesday December 9, 2014

December 8, 2014 by Graeme MacKay

Tuesday December 9, 2014OPEC’s decision ushers in new world of oil

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday December 9, 2014

OPEC’s decision to cede no ground to rival producers underscored the price war in the crude market and the challenge to U.S. shale drillers.

Terence Corcoran: Nobody can truly say what the real price of oil should be — but looking at OPEC’s blowout, the world may be getting closer to the right number. Read on

The 12-nation Organization of Petroleum Exporting Countries kept its output target unchanged even after the steepest slump in oil prices since the global recession, prompting speculation it has abandoned its role as a swing producer. Thursday’s decision in Vienna propelled futures to the lowest since 2010, a level that means some shale projects may lose money.

“We are entering a new era for oil prices, where the market itself will manage supply, no longer Saudi Arabia and OPEC,” said Mike Wittner, the head of oil research at Societe Generale SA in New York. “It’s huge. This is a signal that they’re throwing in the towel. The markets have changed for many years to come.”

The fracking boom has driven U.S. output to the highest in three decades, contributing to a global surplus that Venezuela Thursday estimated at 2 million barrels a day, more than the production of five OPEC members. Demand for the group’s crude will fall every year until 2017 as U.S. supply expands, eroding its share of the global market to the lowest in more than a quarter century, according to the group’s own estimates.

mand for the group’s crude will fall every year until 2017 as U.S. supply expands, eroding its share of the global market to the lowest in more than a quarter century, according to the group’s own estimates. (Source: Financial Post)

 

Posted in: Uncategorized Tagged: christmas, oil, Oil sands, OPEC, Three wise men

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Please note…

This website contains satirical commentaries of current events going back several decades. Some readers may not share this sense of humour nor the opinions expressed by the artist. To understand editorial cartoons it is important to understand their effectiveness as a counterweight to power. It is presumed readers approach satire with a broad minded foundation and healthy knowledge of objective facts of the subjects depicted.

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