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OPEC looks to cut oil production to support falling price

VIENNA — OPEC countries were gathered Thursday to find a way to support the falling price of oil, with analysts predicting the cartel and some key allies, like Russia, would agree to cut production by at least 1 million barrels per day.
Crude prices have been falling since October because major producers — including the U.S. — are pumping oil at high rates and due to fears that weaker economic growth could dampen energy demand. The price of both benchmark U.S. crude and the standard for internationally traded oil fell 22
The oil minister of Saudi Arabia, the heavyweight within OPEC, said Thursday that the country was in
“I think a million (barrels a day) will be adequate personally,” Khalid Al-Falih said upon arriving to the meeting in Vienna. That, he said, would include production for both OPEC countries as well as non-OPEC countries, like Russia, which have in recent years been
That view was echoed by others, including the oil ministers of Nigeria and Iraq.
“I am optimistic that the agreement will stabilize the market, will stop the slide in the price (of oil),” said Iraq’s Thamir Ghadhban.
Investors did not seem convinced, however, and were pushing the price of oil down sharply again on Thursday, partly due to broader concerns that a trade war between the U.S. and China could escalate and hurt global growth. The international benchmark for crude, Brent, was down $1.52 at $60.04 a barrel.
The fall in the price of oil will be a help to many consumers as well as energy-hungry businesses, particularly at a time when global growth is slowing.
U.S. President Donald Trump has been putting pressure publicly on OPEC to not cut production. He tweeted Wednesday that “Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!”
While Saudi Arabia has indicated it is willing to cut production, its decision may be complicated by Trump’s decision to not sanction the country over the killing of dissident journalist Jamal Khashoggi. U.S. Senators say, after a briefing with intelligence services, that they are convinced that Saudi’s de-facto ruler, Crown Prince Mohammed bin Salman , was involved in Khashoggi’s death. Some experts say that gives the U.S. some leverage over the Saudis, though Al-Falih denied that on Thursday.
When asked if the Saudis had permission from Trump to cut production, Al-Falih replied: “I don’t need permission from any foreign governments.”
Experts say this week’s meeting of the Organization of the Petroleum Exporting Countries will influence the price of oil over the coming months. How strongly it does so could depend on Russia’s contribution, which will be determined in a meeting on Friday.
Analysts at Commerzbank estimate that if Russia is willing to step up its production cuts, OPEC and non-OPEC countries could trim production by a combined 1.3-1.4 million barrels a day. This “would be enough to rebalance the oil market next year,” they wrote in a note to investors.
OPEC’s reliance on non-members like Russia highlights the cartel’s waning influence in oil markets, which it had dominated for decades. The OPEC-Russia alliance was made necessary to compete with the United States’ vastly increased production of oil in recent years, particularly since 2016. By some estimates, the U.S. this year became the world’s top crude producer.
OPEC is also riven by internal conflict, especially between regional rivals Saudi Arabia and Iran. One of the key questions in Thursday’s talks is whether to exempt Iran from having to cut production, as its energy industry is already hobbled by U.S. sanctions on its crude exports.
Meanwhile, Qatar, a Saudi rival and Iranian ally, said this week it would leave OPEC in January. While it said it was purely a practical decision because it mainly produces natural gas and little oil, the move was viewed as a symbolic snub to the Saudi-dominated organization.
___
David Rising and Geir Moulson in Berlin and Anthony Mills in Vienna contributed to this report. Piovano reported from London.
Kiyoko Metzler And Carlo Piovano, The Associated Press
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Canada Needs A Real Plan To Compete Globally

From the Frontier Centre for Public Policy
Ottawa’s ideological policies have left Canada vulnerable. Strategic action is needed now
As Canada navigates an increasingly complex geopolitical landscape, the next federal government must move beyond reflexive anti—Americanism regardless of its political leanings. Instead, Canada should prioritize national interests while avoiding unnecessary conflict and subservience.
The notion that Canada can stand alone is as misguided as the idea that it is only an economic appendage of the United States. Both perspectives have influenced policy in Ottawa at different times, leading to mistakes.
Rather than engaging in futile name-calling or trade disputes, Canada must take strategic steps to reinforce its autonomy. This approach requires a pragmatic view rooted in Realpolitik—recognizing global realities, mitigating risks, governing for the whole country, and seizing opportunities while abandoning failed ideologies.
However, if Washington continues to pursue protectionist measures, Canada must find effective ways to counteract the weakened position Ottawa has placed the country in over the past decade.
One key strategy is diversifying trade relationships, notably by expanding economic ties with emerging markets such as India and Southeast Asia. This will require repairing Canada’s strained relationship with India and regaining political respect in China.
Unlike past Liberal trade missions, which often prioritized ideological talking points over substance, Canada must negotiate deals that protect domestic industries rather than turning summits into platforms for moral posturing.
A more effective approach would be strengthening partnerships with countries that value Canadian resources instead of vilifying them under misguided environmental policies. Expand LNG exports to Europe and Asia and leverage Canada’s critical minerals sector to establish reciprocal supply chains with non-Western economies, reducing economic reliance on the U.S.
Decades of complacency have left Canada vulnerable to American influence over its resource sector. Foreign-funded environmental groups have weakened domestic energy production, handing U.S. industries a strategic advantage. Ottawa must counter this by ensuring Canadian energy is developed at home rather than allowing suppressed domestic production to benefit foreign competitors.
Likewise, a robust industrial policy—prioritizing mining, manufacturing, and agricultural resilience—could reduce dependence on U.S. and Chinese imports. This does not mean adopting European-style subsidies but rather eliminating excessive regulations that make Canadian businesses uncompetitive, including costly domestic carbon tariffs.
Another key vulnerability is Canada’s growing military dependence on the U.S. through NORAD and NATO. While alliances are essential, decades of underfunding and neglect have turned the Canadian Armed Forces into little more than a symbolic force. Canada must learn self-reliance and commit to serious investment in defence.
Increasing defence spending—not to meet NATO targets but to build deterrence—is essential. Ottawa must reform its outdated procurement processes and develop a domestic defence manufacturing base, reducing reliance on foreign arms deals.
Canada’s vast Arctic is also at risk. Without continued investment in northern sovereignty, Ottawa may find itself locked out of its own backyard by more assertive global powers.
For too long, Canada has relied on an economic model that prioritizes federal redistribution over wealth creation and productivity. A competitive tax regime—one that attracts investment instead of punishing success—is essential.
A capital gains tax hike might satisfy activists in Toronto, but it does little to attract investments and encourage economic growth. Likewise, Ottawa must abandon ideological green policies that threaten agri-food production, whether by overregulating farmers or ranchers. At the same time, it must address inefficiencies in supply management once and for all. Canada must be able to feed a growing world without unnecessary bureaucratic obstacles.
Ottawa must also create an environment where businesses can innovate and grow without excessive regulatory burdens. This includes eliminating interprovincial trade barriers that stifle commerce.
Similarly, Canada’s tech sector, long hindered by predatory regulations, should be freed from excessive government interference. Instead of suffocating innovation with compliance mandates, Ottawa should focus on deregulation while implementing stronger security measures for foreign tech firms operating in Canada.
Perhaps Ottawa’s greatest mistake is its knee-jerk reactions to American policies, made without a coherent long-term strategy. Performative trade disputes with Washington and symbolic grandstanding in multilateral organizations do little to advance Canada’s interests.
Instead of reacting emotionally, Canada must take proactive steps to secure its economic, resource, and defence future. That is the role of a responsible government.
History’s best strategists understood that one should never fight an opponent’s war but instead dictate the terms of engagement. Canada’s future does not depend on reacting to Washington’s policies—these are calculated strategies, not whims. Instead, Canada’s success will be determined by its ability to act in the interests of citizens in all regions of the country, and seeing the world as it is rather than how ideological narratives wish it to be.
Marco Navarro-Génie is the vice president of research at the Frontier Centre for Public Policy. With Barry Cooper, he is co-author of Canada’s COVID: The Story of a Pandemic Moral Panic (2023).
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Alleged Human Traffickers arrested in Red Deer, Montreal, and Edmonton

Human trafficking suspect arrested in Red Deer, July 2024
From Alert, the Alberta Law Enforcement Response Team
Three human traffickers arrested in Project Endgame
Three men have been arrested and stand accused of running a human trafficking operation that stretched across Canada; operating throughout Alberta, British Columbia, Saskatchewan, and Quebec.
Project Endgame was a year-long investigation led by ALERT’s Human Trafficking unit, and also relied on the assistance of the Edmonton Police Service, RCMP, and the Quebec joint forces Anti-Pimping team known as EILP.
Arrests and search warrants had taken place in Edmonton, Montreal, and Red Deer. A total of 23 charges related to human trafficking offences have been laid against Clyde Elien-Abbot, 31, Kevin Dorcelus-Cetoute, 31, and Jean Rodnil Dubois, 31. Elien-Abbot was arrested on January 31, 2025 in Edmonton, while the other two accused were arrested on July 23, 2024.
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