Popular opinion suggests any slowdown in resource demand from China, which is becoming more desperate in its attempts to revive its flagging economy, will be especially bad for a commodity-dependent economy such as Canada's.
Today, the Earth got a little hotter, and a little more crowded.
Can anyone doubt that, if there had been no demonstrations against it, if it hadn't become a major issue for his "environmental base," the Keystone XL would have been approved without a second thought years ago? Now, it may be too late for a variety of reasons.
As the price of oil continues on its downward course, the cancellation or postponement of such mega-projects has been sending powerful shock waves through the energy industry, and also ancillary industries, communities, and countries that depend on oil extraction for the bulk of their revenues.
Botsford lost a significant battle, but has not lost the moral and legal war over his right to deny takings of his property. His family is now one step closer to an appeal to the North Dakota Supreme Court, where hopefully the issue of eminent domain will be examined.
Is Saudi Arabia prepared for its potential oil crisis and the significant social instability it will cause within its own borders? Yes and no -- and ISIS is standing ready to exploit this inconsistency. In fact, ISIS may even expedite this oil crisis in its ongoing quest to destabilize Saudi Arabia.
v Oil companies are making strides in becoming more environmentally friendly, but they still have a long way to go. The first step is for them to take specific, significant action - not just talk nice and apply flashy window dressing to hide the same old issues.
Keystone remains the clearest test of whether or not the President is willing to do what is truly necessary to address the climate crisis: Keep fossil fuels in the ground. It's the simplest way to see whether Obama has the courage it takes to stand up to Big Oil and say "no."
While the Clean Power Plan is an important step in federal regulations on climate pollution, it does not reach far enough. On its own, it is depressingly insufficient and unambitious. And in the light of the Obama administration's disastrous desire to expand extraction and export of federal coal, oil and gas, it looks even worse.
Engaging in idle threats does not serve U.S. interests in the long term. As we should have learned with Syria, threats we fail to aggressively pursue demonstrate political paralysis, confusion and weakness.
Canada has given oil sands a dirty reputation, but a breakthrough, commercially viable technology has caught the eye of a former Exxon Mobil president who is putting it to use to clean up Utah's billions of barrels of oil sands.
The Arctic may have oil, but the risks of drilling in the Arctic are too great. Arctic oil should stay in the ground. It's time for Shell to do the right thing and announce that they will pull out of the Arctic.
What will spur a price recovery? North American producers may not want to hear it, but the most likely road to higher prices is one that will see them end up as smaller players in tomorrow's oil market.
Puerto Rico's economic crisis is nothing to laugh about. Drawing comparisons to Greece and Detroit could be illustrative, but the context of Puerto Rico's case is far different. Neither Detroit nor Greece has a state monopoly over energy responsible for a significant portion of their debt.
Advocates of "market-based" climate solutions paint pastel pictures reflecting smoothly adjusting macro-economic models. But commodity markets for oil and gas don't work that way. Schumpeter's destructive engine of capitalism is about to show its ugly side.
The Arab Spring and the crisis facing Iraq resulting from ISIS's epidemic, serve to demonstrate that political stability and economic prosperity can only be effectively brought together by virtue of a depoliticized Rule of Law and for such Rule of Law to gradually become a common underlying feature of Iraqi culture.