Good morning, here's what the Oilman has for you today:

• Canadian Oil Plays Waiting Game with Government

• Tesla Covers Thousands of Breakdowns, Blames Drivers

• Upcoming Oil and Gas Events

• Tweet of the Day

Canadian Oil Plays Waiting Game with Government

Canadian oil companies are opting for trying to outwait the Trudeau government instead of committing to emission reductions.

It sounds like an episode from a sitcom, but it’s not.

After Trudeau announced an emissions cap, the waiting game is a pretty smart bet.

A much-delayed cap

The Canadian government has been mulling over an emissions cap for the oil and gas industry for years.

But it didn’t act on it until COP28.

Maybe it finally gathered the courage seeing so many climate activists in one place.

Plans are to force the industry to cut emissions by 38% from 2019 by 2030.

It’s a massively ambitious goal, even for an industry as disciplined as Canadian oil and gas.

And it is an expensive goal that many drillers will not be able to afford without a lot of pain.

So they’re choosing to wait and see if they’ll have to endure that pain.

And there is a chance they won’t.

Not the most popular government

The Trudeau government has not been winning hearts and souls lately.

Carbon taxes are a big reason for this.

They have made life exorbitant for many Canadians.

And Canadians are starting to get angry.

They see the government fixated on emissions and totally disregarding people.

This sort of sentiment does not exactly win you elections.

So it’s pretty smart of drillers to wait and see instead of splashing on emission reduction.

Today’s Edition Is Brought To You By ROX Exploration

Invest in the future of energy with ROX Exploration – a family-owned, independent company dedicated to exploring, developing, and producing oil and natural gas assets. ROX's team of experts drills and operates properties throughout Oklahoma.

If you're an accredited investor looking to diversify into direct oil & gas working interest offerings, then connect with ROX Exploration today.

Tesla Covers Thousands of Breakdowns, Blames Drivers

A Reuters investigation has uncovered thousands of Tesla breakdowns that never reached the media.

And the company blamed drivers for “abusing” their vehicles.

Even when the vehicle was bought a day before the breakdown.

Serious mechanical issues

One driver reported a loss of steering control and a broken suspension.

A day after he had bought his Tesla.

Another said a wheel fell off while he was driving.

At 60 mph.

If that doesn’t make you shudder, you must be a racing driver.

“Tens of thousands” of customers had complaints about serious mechanical problems.

In most of these, Tesla blamed them and not the cars.

In many cases, it refused to pay for the repairs, too.

Internally, the company called these “flaws” and “failures.”

And it did not disclose them to regulators or drivers.

Of course, it wouldn’t.

Clouds on the EV horizon

Tesla is by far the best-selling EV in the world.

It’s the epitome of the EV.

Imagine how this investigation will affect the company’s reputation.

And what it would do for drivers’ doubts about going electric.

I mean, being trendy and getting a Tesla is one thing.

But having the suspension collapse underneath you is quite another.

The more interesting question is what regulators would do about it.

Upcoming Oil & Gas Events

• January 16: TIPRO/IPAA Leaders in Industry Luncheon, Petroleum Club of Houston, Houston, TX

• January 17: IPAA Private Capital Conference, The Post Oak at Uptown Houston, Houston, TX

• January 17-18: GO-WV Winter Meeting, Marriott Town Center Hotel, Charleston, WV

• January 18: Kansas Oil and Gas Day Legislative Reception, Kansas State Capital, Topeka, KS

• January 23-25: POWERGEN International, Ernest N. Morial Convention Center, New Orleans

Around the Global Patch

🇨🇦 Canada backs trans mountain with commitment.
🇮🇷 Iran's warning: Mediterranean closure sparks concerns.
🇷🇺 Arctic LNG 2 bond temporarily shifts.

Tweet of the Day

Thanks for reading today's Oil Patch!

Stay oily, my friend.

Two quick requests before you go:

• If you found this useful, forward this email to a friend to spread the word. 👇

• Take 1 second to answer the poll below, and please tell us what you think 👇👇