Oil executive son’s powerful testimony at Enbridge Northern Gateway pipeline joint review panel (includes transcript)

Lee Brain, son of an oil man, receives a standing ovation and brings a crowd to tears after delivering powerful & inspirational testimony in front of the Northern Gateway Pipeline Joint Review Panel in Prince Rupert on February 18, 2012.

After the gold rush: A perspective on future U.S. natural gas supply and price (updated February 9)

On January 23, 2012, Chesapeake Energy announced that it would curtail drilling in shale gas plays in the United States. Subsequently, other operators have followed suit. While the outcome of this announcement is unclear, it is a signal that the industry is in distress. One can argue that this distress stems from a lack of discipline as market price began to decline.

Economist calls gateway pipeline an inflationary ‘threat’

In a detailed analysis submitted to the National Energy Board, Robyn Allan, the former president and CEO of the Insurance Corporation of British Columbia, concludes that “Northern Gateway is neither needed nor is in the public interest.” Moreover the project, if built, would raise the price of every oil barrel by $2 to $3 dollars in Canada over the next 30 years, and thereby create an inflationary price shock that would have “a negative and prolonged impact… by reducing output, employment, labour income and government revenues.”