In the News: Geopolitics, Canada’s Carbon Tax and Clean Energy Stocks

ARC ENERGY IDEAS

This week, Peter and Jackie discuss recent news headlines, including some scary topics on this Halloween podcast recording. Here are some of the topics they discussed:

· Rising geopolitical risks. Why are the oil markets calm in the face of the Israel-Hamas conflict and the potential for an oil outage?
· ExxonMobil and Chevron announce significant acquisitions. In contrast to the news headlines, Peter and Jackie argue that these acquisitions could make sense, even in the scenario that oil and gas demand declines.
· Clean energy stocks tumble. Clean energy indexes like the WilderHill Clean Energy ETF (PBW) are down about 35 percent since the summer. Why are stocks down, and what are the likely implications?
· Canada announces a three-year pause in the carbon tax for heating oil to help with affordability. Yet, other sources of heating in the country do not get a break. Jackie and Peter discuss the outrage in areas of the country that do not depend on heating oil for heat, as well as other possible implications.
Other content referenced in this podcast:
· Thunder Said Energy: War and commodities: how do conflicts impact prices? October 12, 2023

· The Clean Investment Monitor: Tracking Decarbonization Technology in the United States, Rhodium Group, MIT, CEEPR, September 2023

· Prime Minister of Canada Office (PMO) announcement “Delivering support for Canadians on energy bills,” October 26, 2023
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