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Saudi Prince: Fracking threats Kingdom

A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed elsewhere around the world. Billionaire Prince Alwaleed bin Talal said the Gulf Arab kingdom needed to reduce its reliance on crude oil and diversify its revenues. His warning comes as rising shale energy supplies in the United States cut global demand for Saudi oil. In an open letter to his country's oil minister Ali al Naimi and other government heads, published on [Read more]

TransCanada sticks by its numbers after Obama challenges Keystone job estimates

  CALGARY - TransCanada Corp. insists that the proposed Keystone XL pipeline will create about 20,000 jobs, despite suggestions by U.S. president Barack Obama that those estimates might be unrealistic.In an interview with The New York Times this weekend, Obama said that based on "the most realistic estimates" the project might create "maybe 2,000 jobs" during the construction of the pipeline."...and then after that we're talking about somewhere between 50 and 100 jobs in an economy of [Read more]

Some say industry arrogance fueled fracking anger

By Kevin Begos Associated Press PITTSBURGH (AP) — The boom in oil and gas fracking has led to jobs, billions in royalties and profits, and even some environmental gains. But some experts say arrogance, a lack of transparency and poor communication on the part of the drilling industry have helped fuel public anger over the process of hydraulic fracturing, or fracking. “It’s a big issue for the industry. I have called for greater transparency. That is the only way to have an honest [Read more]

Oil by rail requires special care: experts

  OTTAWA - The sort of disaster that struck Lac-Megantic may thankfully be rare but the consequences are so grave when serious derailments involving oil do occur, extraordinary measures must be taken to prevent them, say proponents of stricter protocols.A Montreal, Maine & Atlantic train carrying 72 tank cars filled with oil exploded after it unexpectedly began rolling and went off the tracks in the small Quebec town on July 6, taking an estimated 47 lives.The disaster — one of the [Read more]

Encana-proposed drilling in southern Michigan draws attention

LANSING, Mich. (AP) — A proposal to drill as many as 500 wells in Michigan’s northern Lower Peninsula by using hydraulic fracturing is attracting attention and criticism from environmentalists. Encana Corp., which has drilled about a dozen wells since 2009, has proposed the new wells, The Detroit News reported, and spokesman Doug Hock says the company is “in the early stages” of new drilling in Michigan. Until “we do the exploration, we won’t know whether we have something that can scale [Read more]

Yangarra Appoints New Director

Yangarra Resources Ltd. ("Yangarra" or "the Company") (TSX-V:YGR) announces the appointment of Alan T. Pettie Q.C. to its Board of Directors. Mr. Pettie currently is a senior partner at Burnet, Duckworth & Palmer LLP ("BD&P") with over 35 years of experience focused on the oil and natural gas industry. He received his Bachelor of Laws from the University of Alberta in 1977 and has practiced law continuously since that time with BD&P. Mr. Pettie has extensive background with [Read more]

Redford, Clark talk energy exports in Ontario

  NIAGARA-ON-THE-LAKE, Ont. - Senior bureaucrats in Alberta and British Columbia have been tasked with thawing a frosty relationship between the two provinces around energy exports.Alberta Premier Alison Redford and B.C. Premier Christy Clark emerged from a meeting of provincial premiers in Ontario to announce they have formed a working group led by the two top energy officials from each province.Alberta and B.C. are at odds over the proposed Northern Gateway pipeline, which would ship [Read more]

TransCanada sees strong customer support for Energy East pipeline

  CALGARY - TransCanada Corp. said Friday it likely has enough support to build its Energy East project, which would connect western crude to eastern refineries using an existing pipeline. The company (TSX:TRP) and its potential customers are putting the finishing touches on their contracts and there should be an announcement within the next two weeks, said Alex Pourbaix, the TransCanada executive in charge of oil pipelines. "It's really just working through terms and conditions, [Read more]

US congressman files lawsuit over fracking

BOULDER, Colo. (AP) — A Colorado congressman is suing a drilling company to prevent them from using hydraulic fracturing on land near his property. A hearing is scheduled Friday to hear claims by U.S. Rep. Jared Polis, a Boulder Democrat, who says drilling across the street from a rural home he owns near Berthoud will damage his quality of life. According to the Boulder Daily Camera, the complaint filed in Denver District Court by Mountain Property Improvement LLC names Denver-based [Read more]

Oilsands capital given rights to more land

  FORT MCMURRAY, Alta. - Alberta's oilsands capital now has room to grow. The provincial government has given the Regional Municipality of Wood Buffalo, which includes Fort McMurray, the rights to more than 22,000 hectares of Crown land. The province hopes the allocation will lead to new housing, businesses and jobs in the area. Energy Minister Ken Hughes says the land should meet the needs of the municipality for the next 25 years. Hughes said the population of Fort McMurray [Read more]