Energy Summary for May 13, 2020
2020-05-13 20:22 ET - Market Summary
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Conveniently omitted in the usual daily media sources, of the blacklisting of the shares of Canadian oil sands producers by the Norwegian sovereign wealth fund,is this item (emailed on May 12th)in a leading international offshore industry newsletter:
"Norway proposes temporary tax break to stimulate offshore projects
The Norwegian government is working on measures to maintain activity levels across the country’s oil and gas industry and the supply industry during the coronavirus crisis".
Despite the obvious virtue signaling smoke screen provided by selling off Canadian oil sand producers' shares, the Norwegians' enjoyment of the standard of living provided by the exploitation of offshore oil and gas deposits remains unrequited. More is never enough.
Posted by Stephen Semeniuk at 2020-05-14 16:15
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