There are many ways society changes and adapts after major crises, such as wars, geopolitical events, economic recessions, environmental disasters and, of course, pandemics. What is the future of energy systems after COVID-19? Will the climate agenda be hindered, or will it roar back with even more vigour?We also cover the historic OPEC Plus production cut agreement made over the Easter long weekend. The group agreed to cut production by 9.7 MMB/d over the next several months with ongoing curtailments for the next two years. Will the cartel comply with these cuts? Is the curtailment large enough considering the collapse of global oil demand? Will other non-OPEC producers contribute?To learn from the past, understand the present, and plan for the energy future, sign-up for email updates from Peter Tertzakian’s Energyphile. Visit https://energyphile.org/ and scroll to the bottom of the page to find the “stay in the know” form.Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

The pain of rock bottom oil prices has become so great that Saudi Arabia, Russia and other OPEC and non-OPEC producers, including potentially the United States and Canada, are considering a coordinated supply cut.  Could an agreement be struck?  Longer term, should oil producers continue to rely on the 60 year old cartel to prop up price? If a OPEC-Plus cut agreement is not made soon, will the United States slap tariffs on foreign oil imports to even the score? We also talk about the next chapter in the Keystone XL pipeline with news of the Alberta Government's financial commitment to the project. See ARC Commentaries related to this podcast, including “Colluding on Oil Production is a Game that Can’t Be Played Anymore” and “If the US Slapped Tariffs on Oil Imports Consumers and Refiners Would Feel the Sting.”Learn more about a tanker that transported Alberta oil to Canada’s East coast during the 1970s Arab Oil Embargo, check out the full story and audio file for “Long Way Around” on the Energyphile website.Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Just like other businesses across the country, Canadian oil and gas producers are suffering from a loss of demand for their products due to the COVID-19 lockdowns. Responding to the unprecedented business disruption, the Canadian federal government has now announced a 75 percent wage subsidy up to a maximum level. This is welcome news for companies across the country, including in the Canadian oilpatch.In addition to talking about the new government program, we also provide an update on the latest information on COVID-19 infection rates, North American refining demand, and the upstream supply response. See ARC Commentary “We Need to Think Outside the Barrel.”Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

In big parts of Canada and the United States, people are being asked to stay home to avoid spreading Coronavirus. This week we review the latest information on COVID-19 infection rates and the implications for North American oil demand. With the United States being the only export market for Canadian oil, the rapid collapse of demand in key consuming regions ripples all the way up the pipelines to Alberta’s oil fields and shut-ins of Canadian production are possible. While shut-ins are occurring as a result of low prices, they may not happen fast enough or at the magnitude needed to avoid exceeding storage levels.Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

The effects of COVID-19 are reaching all aspects of our day-to-day lives. Stock markets are being hit hard, businesses are closing, and people are staying at home. On this episode we give an update on the rapidly changing situation considering the escalating impacts on the United States and Europe, and implications for oil demand. Amidst all this demand destruction, Saudi and Russia seem intent on increasing their oil production. Reacting to the collapse in oil price North American publicly traded oil and gas companies are putting the brakes on spending, with serious implications for oilfield service firms.We also revisit the world’s worst pandemic that occurred during the mid 1300s, considering the energy lessons from way back then. See ARC Commentary “Energy Lessons from the Great Plague.”Click here to see the latest ARC Charts, including our current estimate for Canadian oil and gas industry revenue, cash flow and spending.Click here to see an interactive map of COVID-19 situation globally and by country using data from the World Health Organization (WHO).Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Oil prices have collapsed due to the Saudi Arabia/Russia price war and the ongoing COVID-19 outbreak. On this episode we discuss the possible motivations behind why Russia and Saudi Arabia are threatening to ramp up their production and start a price war now, especially in the face of a already high degree of uncertainty for oil demand from the spreading Coronavirus. We cover the serious implications for oil and gas producers around the globe, including in the United States and Canada, and what signposts to watch for next.See ARC’s latest commentary “The Art of The Price War.”Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

How is the Coronavirus impacting the markets? Did the protests across Canada in opposition to the Coastal GasLink pipeline surprise you? Does climate change risk impact investment strategy?  These are just some of the questions we asked Kevin Uebelein, Chief Executive Officer at Alberta Investment Management Corporation(AIMCO). AIMCO is one of Canada’s largest and most diversified institutional investment managers with $C 120 billion of assets under management and growing.Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

So you think nuclear power plants are big concrete monoliths? Not so, says Norman JD Sawyer the President and CEO of ARC Nuclear Canada. His company is among a new generation developing small, modular nuclear reactors. Norm explains why, compared to the big reactors in operation today, his technology overcomes many of the issues. For example, smaller reactors are safer and have much less waste. A modular design helps keep costs down too. The company’s first commercial project is expected to be in operation by 2028 in New Brunswick, Canada.Check out Energyphile.org to learn more about the “Atomic Energy” brochure from 1963.Visit ARC Nuclear Canada's website for more information.Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

On this week's episode we go back in time to 1959, when the Methane Pioneer carried the first cargo of liquefied natural gas (LNG) between the United States and the United Kingdom. Now, LNG has become the fastest growing energy system in the world. Natural gas is expected to grow 40% or more over the next 20 years. However, there is some uncertainty. Near term, a global glut of LNG has collapsed spot prices. Longer term, actions to reduce global greenhouse gas emissions may slow demand growth.On this episode we talk about the future of LNG, and consider a novel idea for reducing GHG emissions in natural gas by “decarbonizing” it. Check out Energyphile.org to learn more about the Methane Pioneer.Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

Blockades have stopped big parts of Canada’s rail network. Around the same time that the protests started, Ottawa ordered trains carrying dangerous goods to cut their speed in half.  This week, we talk about the situation and implications for crude by rail from Western Canada. We also talk about the latest on the Coronavirus and demand for oil and gas. Finally we give an update on Enbridge’s plan to drastically change the commercial terms for Canada’s largest oil export pipeline. Check out the debate Peter Tertzakian moderated on future energy sources at the Globe conference in Vancouver this past week.To read all the letters submitted to the Canadian Regulator with regards to Enbridge’s plan to change the commercial terms for the Mainline.Finally, here is the ARC commentary “Coronavirus: Implications for Oil and Gas.”Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/