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Gas should fare better than oil under Canada’s new regime
The new federal government appears far more supportive of oil and gas than former prime minister Justin Trudeau’s climate-focused administration, but the prospects look better for the latter hydrocarbon
Letter from Europe: Western retreat raises doubts over climate leadership
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
An all-energy stance
A balanced approach—combining hydrocarbons, renewables and emerging clean technologies—is essential for both energy security and sustainability
From green goals to ground realities
As the EU remains deadlocked over its 2040 emissions goal, the IEA has tempered its climate rhetoric, forecasting that oil and gas will continue growing over the coming decades
Fear and loathing in US LNG buildout
Overall gas optimism is blighted by concerns over lingering regulatory and infrastructure hurdles that could hamper expansion of US LNG exports, weaken security and stifle AI ambitions
Hungary defends Russian energy use
Claims the country lacks alternatives to Russian oil and gas may be exaggerated, although higher costs and reduced security of supply are legitimate concerns.
Middle East doubling down on oil strength
Saudi Arabia, the UAE, Iraq and Kuwait aim to turn geological advantage into sustained geopolitical power via greater spare capacity
Indigenous opposition may slow Canadian fast-track
Federal and provincial governments have passed legislation to speed the development of hand-picked projects, but failure to win Indigenous support may stymie their plans
States, markets and the geopolitics of gas
Geopolitics is just as significant as market factors or climate action in shaping the future role of gas
Deepwater’s race against time
E&Ps are on the lookout for the next big deepwater discovery amid questions over the Guyana and Santos basins, but technological advancements provide optimism
President George W. Bush in Nebraska in 2001
Politics US
Philip K. Verleger
4 March 2024
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The long march to energy independence: Part 3

Attempts to end the US ‘addiction to oil’ in the early 2000s had some unintended negative consequences

The energy programmes introduced into the US by the administration of President George W Bush between 2001 and 2009 required that renewable fuels, principally ethanol, be substituted for gasoline. After Bush declared that “America is addicted to oil” in a State of the Union address, the rush was on to replace gasoline with renewables. Congress, backed by agricultural interests, quickly passed the Renewable Fuels Act (RFA). By 2021, 10% of the fuel supplied to American consumers was derived from crops rather than crude oil. The Bush regulations boosted corn demand and created an agricultural boom. Data published by the US Department of Agriculture includes details on cash prices and informati

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