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The relationship between the US and Canada, each of which is the other’s principal source of imported energy, has become increasingly fraught in recent months. Canada and the...
External Publications by Tim Boersma & Antoine Halff • November 27, 2018
Discussions about “peak oil demand” tend to focus on passenger vehicles, often from a US and European perspective. These discussions often ignore other markets, such as marine transport, which collectively would also need to show a reduction in demand if oil consumption were to reach an inflection point. In an article for the journal Elsevier Energy Policy, CGEP Scholars Dr. Tim Boersma and Antoine Halff explore the outlook for marine bunkers, a niche market that accounts, depending on estimates, for up to 7% of the demand barrel. They focus on the possible impact of new environmental restrictions that aim to drastically reduce sulfur oxide (SOx) emissions from ships as of January 2020, placing them against the background of past innovations that have been reshaping ships’ fuel consumption patterns and assessing their likely impact on future innovation in the sector. They conclude that the rules might paradoxically end up slowing down what might have otherwise been a more rapid transition of the shipping market away from traditional bunker fuels. The rules will, however, adversely affect simple refineries and producers of heavy, sour crude oil grades, whose prices are sometimes indexed to that of high sulfur fuel oil (HSFO).
Calls to "Drill, baby drill" are back with Donald Trump's return to the White House, and for US natural gas production, the catchphrase might also be a necessity over the next three years if demand for the fuel grows as steeply as expected.
China’s demand for oil, long an important driver of global oil demand growth, slowed dramatically during January–September 2024.
The US Federal Reserve (Fed) commenced its monetary easing cycle on Wednesday with an aggressive 50 basis points policy rate cut.
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External Publications by Tim Boersma & Antoine Halff • November 27, 2018