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Articles on oil prices

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Pumpjacks pump crude oil near Halkirk, Alta., more than a decade ago. Oil prices have plunged into negative territory due to the glut created by the COVID-19 global economic shutdown. THE CANADIAN PRESS/Larry MacDougall

Oil crash explained: How are negative oil prices even possible?

Alberta oil is the collateral damage of the oil war between Russia and Saudi Arabia, with COVID-19 launching an additional attack. The province's oil industry will struggle to recover.
A satellite image of the oil slick as it looked in late May 2010, a month after the Deepwater Horizon well exploded. The oil plume looks grayish white. NASA/Goddard/Jen Shoemaker and Stu Snodgrass

A decade after the Deepwater Horizon explosion, offshore drilling is still unsafe

The BP Deepwater Horizon blowout on April 20, 2010 triggered the largest offshore oil spill in history. Ten years later, post-spill reforms are being undone and the Gulf of Mexico remains vulnerable.
COVID-19 is resulting in dramatically decreased demand for gasoline and jet fuel, but it’s just the latest in a string of bad news for oil producers. (Shutterstock)

The coronavirus is just the latest blow to oil producers

COVID-19 is a huge challenge for the whole world, and Canadian oil producers, already suffering from long-term market trends, will be particularly badly hit.
In this July 2018 photo, U.S. President Donald Trump and Russian President Vladimir Putin are seen at a news conference after their meeting at the Presidential Palace in Helsinki. (AP Photo/Alexander Zemlianichenko)

The Trump-Putin friendship could be all about oil and China

Vladimir Putin may well have something on Donald Trump. But their close ties could also be about oil prices and Trump's efforts to get Russia to ends it alliance with China.
Gas prices usually rise heading into long weekends. The reasons behind wild oil price fluctuations, reflected at the pumps, is about a lot more than economics. THE CANADIAN PRESS/Jonathan Hayward

Understanding the rollercoaster ride of oil prices

Oil prices have little to do with supply or demand or even economic forces. Instead, it's all about politics.
Customers line up to buy gasoline in San Jose, California, on March 15, 1974, during an Arab oil embargo. The crisis spurred enactment of the first U.S. vehicle fuel economy standards. AP

Government fuel economy standards for cars and trucks have worked

Since the federal government started setting fuel economy standards, US-built cars have doubled their fuel efficiency, saving money for consumers and reducing pollution.
Surinamese’s President Desi Bouterse in 1996, speaking in front of a portrait of himself from back in his military strongman days. Reuters

In Suriname, an endless refrain: boom, bust, and Bouterse

Oil-dependent and led by a charismatic dictator with a chaotic economic policy, is Suriname the next Venezuela?

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