As the oil industry struggles, are national leaders waiting until it's too late to intervene?

<p>As major service companies present their Q2 earnings results, they are offering what is perhaps the industry's leas-politically-biased assessments of future oil and gas demand - and it contradicts where OPEC+ and the IEA want to lead the market in the coming quarters.</p> <p>In Canada, the industry's hardest-working trade association puts Ottawa's Seamus O'Regan on the spot, seeking tax incentives modeled after Norway's system. Based on Equinor's Q2 results, it's a model well worth following.</p> <p>In a 180-degree shift from just a few months ago, Texas Railroad Commission Chairman Wayne Christian wants to take a stand against Saudi and Russian dumping of oil on U.S. markets, with what is a textbook argument for tariffs.</p>