oil Archives - Grainews

‘Tis the season to reduce costs on regular maintenance, repair

Wintertime sees service programs and parts discounts from OEMs

By Scott Garvey December 11, 2024

After a hectic harvest season, there may be a temptation to park machines in the shed, close the door and forget about them until next spring. But that’s not a good idea. Performing regular maintenance of equipment now can help cut costs. Dealerships looking to keep their mechanics busy in the off season typically offer […] Read more

Equipment, Machinery

How to evaluate a diesel engine

Knowing what to check will give you a good indication of an engine's overall condition

By Scott Garvey May 20, 2024

Are you thinking of buying a used tractor or other farm machine at one of this season’s spring auctions? When buying at auction, there is usually limited opportunity to give a machine or vehicle a thorough inspection. So here are a few useful things you can do at a sale to at least check the […] Read more

General, Markets

Volatile oil market most likely to improve says analyst

Israel-Gaza war, Red Sea attacks having less impact than expected

By GFM Network News January 9, 2024

As the global oil market continued to ready itself for 2024, one analyst stated it’s more likely prices will increase than to drop further. Phil Flynn of the Price Futures Group in Chicago said one’s outlook on crude oil is predicated on their economic view.

General, Machinery, Markets, Reuters

Canada to boost carbon tax rebate for rural areas

Will also pause carbon tax on home heating oil for three years

By GFM Network News October 28, 2023

Ottawa | Reuters — Canadian Prime Minister Justin Trudeau on Thursday announced a three-year carbon tax exemption for home heating oil and higher carbon tax rebates for people in rural areas, measures he said were intended to bring relief amid soaring costs of living. Trudeau’s Liberal government has implemented a price on carbon to combat […] Read more

NYMEX August 2023 West Texas Intermediate crude oil, with August 2023 Brent crude oil (black line). (Barchart)

Crops, Machinery, Markets

Extent of Saudi oil production cut unclear

Reported tensions within OPEC limit price gains

By GFM Network News June 6, 2023

MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably […] Read more

Columns

Are energy companies displaying “grotesque greed”?

Vilification of profits continues unabated

By Herman VanGenderen December 2, 2022

Shortly after submitting my previous article on the vilification of the word “profit,” and even more so when related to oil, the headline “UN Head Calls for Taxing ‘Grotesquely Greedy’ Oil” appeared in a newsletter I read, with the following quote: “UN Secretary General Antonio Guterres called on governments globally to tax these excessive profits […] Read more

Every oil field in the world is simply a product of the diatoms in the world’s oceans.

Columns

The biology of oil and coal

A deep dive into their formation and uses

By Ieuan Evans September 15, 2022

Both oil and coal are the products of plain and simple plant photosynthesis. That is the chlorophyll in green diatoms, microscopic algae and green plants on land, which thrived hundreds of millions of years ago as they trapped the sun’s radiant light energy. These microscopic green algae in the world’s oceans took light energy from […] Read more

Canola, Crops

Oil content of Canada’s canola well below average in 2021

By GFM Network News March 16, 2022

MarketsFarm — The average oil content of Canada’s canola crop came in well below normal in 2021-22, according to the final quality report for the year from the Canadian Grain Commission (CGC). The average oil content came in at only 41.3 per cent for the year, which compares with 44.1 per cent the previous year […] Read more

People queue up outside a public supermarket’s doors in Ciudad Bolivar, Venezuela, in April 2015. (iStock/Getty Images)

Crops, Lentils, Reuters

World Food Programme starts distributing food in Venezuela

By Reuters, GFM Network News July 8, 2021

Reuters — The U.N. World Food Programme (WFP) said Wednesday it had begun distributing school meals to children in Venezuela, where some seven million people require humanitarian assistance after years of economic collapse in the once-prosperous OPEC nation. The WFP’s first take-home rations were distributed for children under six years old at some 277 schools […] Read more

Crops, Machinery, Reuters

U.S. oil industry seeks unusual alliance with Farm Belt against electric vehicle agenda

'We weren't born yesterday'

By GFM Network News January 29, 2021

New York | Reuters — The U.S. oil industry is seeking to forge an alliance with the nation’s corn growers and biofuel producers to lobby against the Biden administration’s push for electric vehicles, but is so far meeting a cool reception, according to multiple sources familiar with the discussions. The effort marks an unusual attempt […] Read more

Alberta crop conditions improve: report

U.S. grains: Corn sets contract lows on expectations for big US crop

U.S. livestock: Cattle strength continues

GFM Network News