What is happening in the oilfields of the world as a result of the COVID pandemic?
To what extent is the oilfield service industry being decimated from this downturn? 
Post-pandemic, how will the industry change?

These are just some of the questions we asked Kevin Neveu, President and Chief Executive Officer at Precision Drilling, a leading provider of services to the oil and gas industry.

To learn more about Precision Drilling, see the website: https://www.precisiondrilling.com/Home/default.aspx

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First, we review Michael Moore’s new movie “Planet of the Humans.” The film casts doubt on the green credentials of renewable energy by exposing upstream environmental impacts.  What did the documentary get right? What parts of the narrative were incomplete? The movie highlights unsustainable trends including population growth and humankind’s thirst for energy, but are there solutions?

We also review recent events, including; the historic minus $38/B oil price ; the reaction to the Canadian government’s fiscal support for the oil and gas industry; and finally, why producers are asking the Canadian Energy Regulator (CER) to pause the Enbridge Mainline Contracting Hearing for at least six months.

See ARC SnapChart “Paris Target is Still out of Reach.”

View movie “Planet of the Humans.”

Project Drawdown’s table of solutions for impacting climate change.

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Have you ever seen anything so severe in your 30 plus year energy career? How far could US oil production fall? What could the post-COVID oil demand recovery look like? The oil and gas sector was already on wobbly ground with investors prior to Coronavirus, will they come back now?

These are just some of the questions we asked Bobby Tudor, the Co-Head of the advisory business of Perella Weinberg Partners and the Chairman and founder of Tudor, Pickering, Holt & Co (TPH). TPH provides strategic and financial advice to investors, management teams, boards of directors, government bodies, and other professionals and participants in the global energy industry.

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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.

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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.

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