BOE Report

BOE Report Staff

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Premier Wall says Saskatchewan has GAME CHANGING carbon capture technology

  REGINA - Saskatchewan Premier Brad Wall says the province has game-changing carbon capture technology and he's trying to sell the idea to the world. Wall spoke today at an annual carbon capture conference in Pittsburgh. The premier says there was keen interest in a project at the Boundary Dam power station near Estevan. The plan there is to capture up to 90 per cent of CO2 emissions. Most of the CO2 captured from Boundary is to be used to push more oil out of the ground in [Read more]

IEA sees surging US crude output, slowing global demand

  NEW YORK, N.Y. - The International Energy Agency raised its forecast for U.S. oil production while cutting its prediction for global crude demand. The loss came after the Paris-based IEA, which advises 28 countries about energy issues, said rising U.S oil output will be the key source of new supplies over the coming five-year period. "The supply shock created by a surge in North American oil production will be as transformative to the market over the next five years as was the [Read more]

SEND IT EAST: New Brunswick mayor promotes west-to-east oil pipeline

  CALGARY - A New Brunswick mayor says it's important that producers understand the advantages of a pipeline that would carry western crude oil to eastern refineries. Mel Norton of Saint John says he and other delegates have been in Alberta for the last couple of days talking about what's been dubbed the Energy East pipeline. Calgary-based TransCanada Corp. (TSX:TRP) said last month it wants solid backing from shippers before deciding whether to go ahead with a proposal to convert [Read more]

Conservatives boost resources ad spending to $16.5M, target U.S. audiences

  OTTAWA - Ottawa is dramatically ramping up ad spending by Natural Resources Canada as the Conservatives take their environmental and natural resources fight directly to the American market. Budgetary estimates show that $16.5 million has been set aside by the department for advertising in 2013-14 to highlight what the Harper government calls responsible resource development. That's up from $9 million last year and just $237,000 in Natural Resources advertising in 2010-11. The [Read more]

Aboriginals call for Arctic energy moratorium as circumpolar leaders meet

  A growing number of aboriginals from around the Arctic are calling for a moratorium on energy development in the North. Groups from every Arctic country have signed a statement that calls for an end to offshore drilling and a pause in northern energy projects unless local aboriginals consent. The statement was released in Kiruna, Sweden, two days before leaders from the eight circumpolar nations meet and hand over chairmanship of the Arctic Council to Canada. The statement [Read more]

N.W.T. industry minister touts ‘MADE IN THE NORTH’ oil pipeline alternative

  By Lauren Krugel, The Canadian Press CALGARY - The Northwest Territories is promoting the idea of a "made-in-the-North" oil pipeline as a means to get Canadian crude to international markets, bypassing jurisdictions that have been less than keen on such developments. "Certainly the Northwest Territories is in a good location when it comes to the possible routing of the pipeline north," David Ramsay, the territory's industry minister, said in a recent interview. Ramsay [Read more]

TSX, U.S. markets fall amid moderate retail data from China and U.S

By Linda Nguyen, The Canadian Press TORONTO - The Toronto stock market fell sharply Monday as prices for commodities, particularly gold, drove down the index amid data that showed slightly smaller-than-expected increases in China's industrial production and retail sales. The S&P/TSX composite index dropped 69.13 points to 12,519.96. The Canadian dollar was up 0.14 of a cent to 99.03 cents US. The U.S. commerce department reported that retail sales edged up 0.1 per cent in April, [Read more]

Oil price falls to near $95 a barrel as rising dollar puts pressure on commodities like crude

By Pablo Gorondi, The Associated Press The price of oil fell to near $95 a barrel on Monday, reflecting the recent strengthening of the US dollar against the yen and other major currencies. By early afternoon in Europe, benchmark oil for June delivery was down 71 cents to $95.33 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 35 cents on Friday. The stronger US dollar is causing oil prices to fall, analysts said. The dollar has risen in recent days [Read more]

Plans to increase US exports of liquefied natural gas stir debate on environment

  WASHINGTON - A domestic natural gas boom already has lowered U.S. energy prices while stoking fears of environmental disaster. Now U.S. producers are poised to ship vast quantities of gas overseas as energy companies seek permits for proposed export projects that could set off a renewed frenzy of the much-debated kind of drilling known as fracking. Expanded drilling is unlocking enormous reserves of crude oil and natural gas, offering the potential of moving the country closer to [Read more]

Better oil price needed for emissions controls to work: environment minister

  OTTAWA — The ability of the oil and gas sector to absorb tough government controls on their greenhouse gas emissions depends on Canada getting a better price for its oil, Environment Minister Peter Kent says. The extra revenue would allow companies to invest heavily in leading-edge technology that would curtail pollution, he said in an interview from London. “What we have to do, one way or another, is get rid of the U.S. discount,” Kent said. “That would certainly provide great [Read more]