The president's ire followed a stream of bullish signals from a meeting
of oil producers in Saudi Arabia, chiefly from the kingdom's Energy Minister Khalid Al - Falih.
The market price has once again dropped sharply (to US$ 38.68 a barrel) after a
meeting of oil producers in Qatar on April 18 failed to deliver an output freeze agreement.
And by placing their short sighted greed, ignorance, and stupidity first, the unholy polluting
coalition of oil producers and coal burners has told the world that they don't care who else they hurt by continuing their dirty addiction, killing reefs and drowning islands and coasts, and imperiling millions in poor countries.
The Canadian Association of Petroleum Producers, which negotiated the Clipper toll rates in 2007 on
behalf of all oil producers - most of which have not come out in support of Suncor's bid - declined comment.
The immediate precipitator of course is Investment Canada's approval of two majority SOE investments in the oil and gas sector: the $ 5 billion acquisition of gas player Progress Energy by Malaysian SOE Petronas and the larger ($ 15 billion)
acquisition of oil producer Nexen Inc. by CNOOC.
Earlier in the day, Mr Brown outlined his vision for an international energy system at a major
conference of oil producers and consumers in London today.
The Bank also addressed concerns about the dropping loonie, stating that since the central bank's October Monetary Policy report, commodity prices continued to fall and this led to «tighter credit conditions for commodity producers,» which directly impacted the profit
margins of oil producers in Canada.
Exxon is using «expert - for - hire doubt mongering» to refute evidence showing the company spent decades hiding global warming information, according to Geoffrey Supran, who co-wrote an
analysis of the oil producer's climate record.
As oil is a global commodity, maybe it only makes sense to look at the numbers collectively and see that the
majority of oil producers are now in that «past peak» category.
Behind Germany and ahead of
some of the oil producers, it runs the largest current account surplus in the world, which means that it is exporting its excess savings in a world that has nowhere to put the money, and so the world must respond either with speculative asset bubbles, unproductive investment, debt - fueled consumption binges or unemployment.