Friday, Oct. 02, 2015 4:15PM EDT
The Arctic was once the most exciting and promising frontier for oil exploration, but it was a very long time ago.
Now that another oil major has left the forbidding region with little but a big bill, count on another very long time passing before the industry returns.
There have been spurts of optimism since the 1980s that the swashbuckling adventures of the past would enjoy a rebirth in the Far North of the United States and Canada. Something always gets in the way, usually a cost-benefit analysis after a shift in markets.More »
Thursday, Sep. 24, 2015 6:23PM EDT
It must have seemed like a good idea when Caterpillar Inc. forked out $7.6-billion (U.S.) in 2011 to acquire mining machinery heavyweight Bucyrus International Inc.
At the time, Caterpillar could not keep up with the soaring demand for massive trucks, earth-movers and other heavy equipment in the midst of a global resource boom.More »
Wednesday, Sep. 23, 2015 7:10PM EDT
Staff at Volkswagen headquarters in Wolfsburg had salt rubbed into their wounds over the weekend when the local soccer team suffered a 5-1 defeat at the hands of Bayern-Munich. The Bavarian team is league champion and shares its home with BMW, and it is tempting to believe that the Munich car maker is gloating over the misfortune of its rival from Lower Saxony that faces many billions of euros in fines and costs after admitting that it rigged U.S. emissions tests on its diesel cars.More »
Tuesday, Sep. 22, 2015 6:18PM EDT
There is a future for natural-gas exports from British Columbia, but it’s looking much further out on the horizon than its boosters hoped.
The overall concept of moving gas from B.C.’s massive northeastern reserves to the coast, cooling the heck out of it in pricey plants and shipping it to more lucrative overseas markets makes a world of sense.More »
Tuesday, Sep. 22, 2015 5:48PM EDT
The ancient Greeks called it hubris when people of power and influence displayed such overweening pride that they angered the gods. Bad things always followed.
Martin Winterkorn, who was determined to turn Volkswagen AG into the world’s largest car maker at seemingly any cost, has done something worse. He has infuriated millions of consumers who bought VW’s diesel-is-clean pitch and put his company in the crosshairs of the U.S. Congress and Justice Department. General Motors and some of his banking friends can tell him what bad things flow from that.More »
Tuesday, Sep. 15, 2015 5:49PM EDT
The bid-ask spread – that’s the barrier holding back a flood of mergers and acquisitions in the oil patch.
At least, it’s the reason investment bankers and oil-company executives hold up most often for the drop in deals this year despite the financial strains throughout the industry.
Here’s how the thinking goes: Would-be sellers of assets are hopeful of some timely recovery in crude prices, so they don’t want to shove production and reserves out the door at bargain-basement prices just before it happens.More »
Sunday, Sep. 06, 2015 5:04PM EDT
Since the dawn of the Industrial Revolution in the mid 1700s, fossil fuels have transformed humankind’s journey in almost every conceivable way. Agricultural production has soared, transportation was revolutionized, electrical power enabled breathtaking technological advancements, and petro-chemistry has provided synthetic materials for the manufacture of everything from fertilizers to plastics to clothing and even heart valves.More »
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Brian Milner is a senior economics writer and global markets columnist. In a long career at The Globe and Mail, he has covered diverse business beats, including international trade, the automotive industry, media, debt markets, banking and the business side of sports.
Sean Silcoff joined The Globe and Mail in January, 2012, following an 18-year-career in journalism and communications. He previously worked as a columnist and Montreal correspondent for the National Post and as a staff writer at Canadian Business Magazine.
A business journalist since 1994, David Milstead began writing for The Globe and Mail in 2009. During eight years at the Rocky Mountain News in Denver, Colo., he individually or jointly won nine national awards from SABEW, the Society of American Business Editors and Writers.