Newfoundland and Labrador’s offshore oil and gas industry is the province’s largest contributor to the economy and will be critically important to its future.
Helium plays an important role in breathing devices and it mostly comes as a by-product of petroleum production.
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
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
Donald Boesch, University of Maryland Center for Environmental Science
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.
Shutdown in Seattle to slow the spread of coronavirus empties the streets, March 26, 2020. Less economic activity means less revenue for utilities.
AP Photo/Ted S. Warren
The US is gradually shifting to lower-carbon energy sources, but the COVID-19 pandemic, an oil price crash and a likely recession are big speed bumps.
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)
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.
Spigots still open: Despite rising tensions, oil is flowing and meeting demand.
Ali Mohammadi/Bloomberg
Tensions between Iran and the US have spiked, but oil prices have barely budged. Why not? And is the oil markets' muted response an accurate reflection of the rising tensions?
Drivers buy less gas when filling the tank burns holes in their wallets.
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)
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.
One historic handshake in Helsinki.
AP Photo/Pablo Martinez Monsivais
Not only does U.S. law bar price-fixing, there are bipartisan efforts underway to make it possible to sue OPEC members in American courts for antitrust violations.
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
The connection between oil and arms trade is not a conspiracy theory.
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
Since the federal government started setting fuel economy standards, US-built cars have doubled their fuel efficiency, saving money for consumers and reducing pollution.
Senior Lecturer in International Relations, Discipline of Politics & International Relations, Macquarie School of Social Sciences, Macquarie University