When the issue of taxpayer subsidies for energy comes up — oil and gas and renewables alike — the public, policymakers and media could be forgiven if they feel like they’re drowning. Endless decimal points and numbers that run into the trillions can make it near impossible to grasp what it all means to one personally.
Canadian Energy Centre Executive Director of Research Mark Milke joined Business Insider host Mario Toneguzzi to discuss the findings of new research on new Canadians working in the oil and gas extraction sector.
A few years back, one of us (Mark) took an early morning taxi ride in Vancouver. The driver, originally from Latin America, began to complain—without any prompting—of how crazy it was that local anti-oil and gas protesters were trying to block the Trans Mountain pipeline expansion.
Worldwide oil consumption has been on an upward trajectory as of late, and with the Covid pandemic subsiding in much of the world, it appears that resumption in demand will soon be obvious this year and next.
For those with any historical memory, or of a certain age, they may know that the United States once banned exports of crude oil. This started in the mid-1970s, resulting from an oil embargo directed at the United States by selected Middle Eastern countries.