By Dean Bennet EDMONTON - One year after Alison Redford won her first popular mandate, the Alberta premier remembers not only voting day, but the uneasy feeling just before she dropped the writ. It was last March 26. Redford stood in her cabinet meeting room and realized she might not see it again. "The most profound moment in this room was that last moment," said Redford in an interview, touching her high-backed chair beside the long, sprawling, oval wooden desk, hollow in [Read more]
Alberta government to partially fund five new oilsands projects
The Alberta government has announced it will partially fund 5 oilsands projects supported by the Innovative Energy Technologies Program. The companies receiving funds are: Canadian Natural Resources Limited, Cenovus Energy Inc., Imperial Oil Ltd., and Perpetual Energy. As part of an attempt to reduce fresh water use and enhance oil recovery in oil sands, the Alberta government will contribute a $33 million with the mentioned companies providing an aggregate $177 million. Read the release [Read more]
Oil price rises above $88 following sharp drops, ends week slightly higher
By The Associated Press The price of oil rose above US$88 a barrel on Friday as traders cautiously returned to commodity markets following sharp sell-offs this week. Benchmark crude for May delivery rose 28 cents to finish at $88.01 a barrel on the New York Mercantile Exchange. Crude has lost about $9 a barrel since the beginning of the month, as various reports highlighted slower growth in China and still-sluggish growth in the U.S. and elsewhere, while oil supplies remained [Read more]
Three premiers brainstorm ideas for a national energy plan
TORONTO – Leaders of three Canadian provinces met Friday to brainstorm the foundation of what they hope could become a national energy strategy. “We’ve identified broad areas that we’re working on today,” Manitoba Premier Greg Selinger said after the meeting at a downtown Toronto hotel. “The idea now is to take these themes (and) develop the specific strategies with deliverables and practical projects.” Selinger outlined the initial steps of the plan to reporters alongside [Read more]
Will eastern oil pipelines lead to lower prices at the pump for Canadians?
By Lauren Krugel CALGARY - The Conservatives in Ottawa are staunch supporters, the New Democrats have called it a "win-win-win" and the premiers of Alberta and New Brunswick have loudly touted the benefits of an oil pipeline from west to east. But the degree to which Eastern consumers will benefit at the pump is unclear, as it's up to the pipeline's customers — oil producers at one end and refineries at the other — to determine which barrels go where. "One thing that I've [Read more]
TransForce doesn’t see improvement in Alberta oil rigging business
MONTREAL - Alberta's oilsands production may be thriving, but TransForce doesn't foresee any improvement this year for North American oil drilling. The trucking company, which among other things moves drilling equipment, posted weaker results in the first quarter as energy sector revenues dropped 24 per cent and margins plummeted. Chief executive Alain Bedard told analysts Friday that he foresees an eventual improvement in the U.S. energy sector as the country seeks energy [Read more]
Jim Flaherty talks up Keystone XL pipeline to new U.S. treasury secretary
WASHINGTON - Jim Flaherty made a pitch on Thursday for TransCanada's proposed Keystone XL pipeline with a top Obama administration official, telling Treasury Secretary Jack Lew that the contentious project is vital to both countries' economies. "He emphasized that the process is being followed," Canada's finance minister told a media roundtable after he attended G20 meetings in the U.S. capital on Thursday. "I emphasized that the State Department report indicates this is a very [Read more]
Clark campaigns in heart of BC’s oil and gas region, pumps LNG potential
DAWSON CREEK, B.C. - Liberal Leader Christy Clark attempted Thursday to drive home her party's evangelism on the rosy future an aggressive development strategy for liquefied natural gas could provide, while warning that hers is the only party that can deliver on the promise. Clark was campaigning in Dawson Creek and Fort St. John, in the province's northeast, a landscape dotted with a burgeoning natural gas industry that forms the backbone of Clark's economic plan for the [Read more]
Keystone XL backers, foes convening in Nebraska
BY GRANT SCHULTE, ASSOCIATED PRESS GRAND ISLAND, Neb. -- Opponents and supporters of a massive Canada-to-Texas oil pipeline converged on a snowy Nebraska town Thursday for what could become a pivotal moment for the project. Despite a spring storm that brought sleet and snow to Nebraska, the U.S. State Department hearing in Grand Island was expected to draw at least several hundred people from the state as well as activists from outside the region who consider the state a key battleground [Read more]
Pipeline expansions still needed despite price-gap narrowing, Oliver says
CALGARY - Despite a dramatic improvement in the price Alberta producers get for their crude oil in recent months, Natural Resources Minister Joe Oliver says market-opening pipeline expansions are still necessary. The difference between the Western Canadian heavy oil benchmark and its lighter American counterpart was at the painfully high level of $40 per barrel late last year — a phenomenon the Alberta government dubbed the "bitumen bubble" when explaining the hit it was taking to [Read more]
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