Price of Canadian oilsands crude plunges to lowest level on record — and could be headed to $0
The cost of buying a barrel of Canadian oil fell to less than a Barrel of Monkeys on Thursday as the oil price again crashed to record levels.
Western Canadian Select (WCS) was selling for $6.45 US a barrel Thursday, down $2.84 US from a day earlier. That's below last week's record when it sold for as low as $7.63 US a barrel.
Some Canadian organizations are asking the federal government to focus any bailout of the oil industry on workers and families, not corporations.
The request comes in an open letter to Prime Minister Justin Trudeau, released Tuesday morning and signed by environmental organizations, faith and labour groups that the signatories say represent about 1.3 million people.
“Giving billions of dollars to failing oil and gas companies will not help workers and only prolongs our reliance on fossil fuels,” the letter says.
PIERRE, S.D. (AP) — Gov. Kristi Noem’s proposal to revive the state’s criminal and civil punishments for riots passed a final Senate vote on Thursday and will next proceed to her desk.
Norwegian colossal fossil Equinor announced late last month that it is abandoning a US$200-million plan to drill for oil in the deep waters of the Great Australian Bight Marine Park, the third retreat for a parade of oil and gas explorers that also includes BP and Chevron.
Canadians can expect more disruptive protests if the federal government pushes forward with the Trans Mountain pipeline expansion against the wishes of some of the Indigenous communities it will pass through, says a British Columbia lawyer and Indigenous negotiator.
In the last month, Indigenous people across the country set up barricades on train tracks, roads and bridges, in solidarity with Wet’suwet’en Nation hereditary chiefs, some of whom object to the construction of a natural-gas pipeline through their traditional territory.
Defending the business of fossil fuels and resisting targets on carbon emissions, Exxon Mobil (NYSE:XOM) CEO Darren Woods today called pledges by some of its Big Oil rivals to cut carbon dioxide emissions a "beauty competition" that would do little to halt climate change.
