TORONTO - Canada's main stock index dipped for just the third time in a month as lower crude oil prices hurt the key energy sector. The S&P/TSX composite index closed down 25.43 points at 15,208.33 on a quiet day of trading after a rough December and 12-day rally in January. "It seems like today the market's just taking a breather," says Anish Chopra, managing director with Portfolio Management Corp. He said investors are digesting the news of the last few months that saw … [Read more...]
Trudeau says he and Saskatchewan premier talking despite carbon tax differences
LA LOCHE, Sask. - Prime Minister Justin Trudeau says he continues to work with Saskatchewan Premier Scott Moe despite their differences over the federal carbon tax. Trudeau was asked at a funding announcement in La Loche on Wednesday whether he would try to persuade Moe, who was also there, about the tax. Trudeau said he and Moe have had "many great conversations" on things they agree and disagree on. The two did not meet when Trudeau was in Regina earlier this month, but … [Read more...]
Alberta government to partially backstop new $2 billion dollar bitumen upgrader
CALGARY - The Alberta government is providing a $440 million loan guarantee to help a Calgary-based company build a new bitumen upgrader east of Edmonton. Value Creation Incorporated says it's ready to break ground on the $2 billion upgrader that would convert more than 77,000 barrels of diluted bitumen each day into medium synthetic crude and an ultra low sulphur diesel. Synthetic crude can flow easier through pipelines. Premier Rachel Notley says the loan guarantee is all the support … [Read more...]
Oilpatch wants growth policies from Alberta politicians; carbon price absent
CALGARY - The energy industry has revealed what it wants to see from Alberta politicians as they gear up for a spring election. The Canadian Association of Petroleum Producers says politicians should enact policies that will double the industry's growth rate by 2020. It wants tax cuts, shorter regulatory times and government support for six new energy pipelines. There is no mention of a price on carbon or a cap on oilsands emissions, both of which were brought in by Alberta's current … [Read more...]
MEG Energy looks to make changes after Husky drops hostile takeover attempt
CALGARY - MEG Energy Inc. is looking to make changes to its board of directors and restart a strategic review of its partial upgrading technology following Husky Energy Inc.'s decision to drop its hostile takeover offer for the company. The company says the board is evaluating its composition and has started a renewal process. MEG also says that it has hired a financial adviser to help review alternatives for its HI-Q partial upgrading technology. The changes came as MEG … [Read more...]
Enbridge natural gas pipeline ruptures in Ohio, reports of two injured
CALGARY - Enbridge Inc. says two people have been injured and two structures damaged in a natural gas pipeline rupture in Ohio. The company says it has activated its emergency response plan and personnel are responding to the incident in Noble County, Ohio. Local reports said the pipeline explosion on Enbridge's Texas Eastern natural gas pipeline sent a fireball into in the sky. Enbridge says the fire has been contained and residents near the incident have been evacuated. … [Read more...]
Anti-pipeline group wants NEB to consider impact of emissions, climate change
VANCOUVER - An environmental group wants the National Energy Board to reconsider the Trans Mountain expansion project's impact on climate change, especially in relation to greenhouse gas emissions and the marine environment. Stand.earth filed a motion with the board asking it to apply the same standard to the project as it did with the Energy East pipeline, before it submits its final report to the federal government on Feb. 22. The group's spokesman Sven Biggs says the board … [Read more...]
Why some elected Wet’suwet’en councils signed agreements with Coastal GasLink
SMITHERS, B.C. - It was a difficult decision to sign a benefit sharing agreement with Coastal GasLink that would allow for a natural gas pipeline through the Wet'suwet'en territory, but a necessary one, an elected band council member says. Joseph Skin is with the Skin Tyee band, a community of about 134 people within the Wet'suwet'en First Nation, and said many members live in "poverty" on the reserve and the agreement offered an opportunity for a better future. Skin said he spent most of … [Read more...]
Fire next door to B.C. pipeline fuel tank facility won’t be investigated
BURNABY, B.C. - The Burnaby Fire Department says it won't be conducting an investigation into a fire Saturday night a few hundred metres from a Kinder Morgan fuel tank facility in Metro Vancouver. Assistant Fire Chief Stewart Colbourne says the fire was in a garage or storage area and the building was fully consumed, so the department won't be able to figure out the cause. On Saturday, Deputy Chief Dave Samson said the department was called to the blaze in a large equipment … [Read more...]
Former firefighter with PTSD sues Syncrude over suspended benefits, dismissal
CALGARY - A lawsuit filed by a former firefighter and paramedic against Syncrude Canada claims the oilsands giant wrongfully denied him benefits and fired him after he was diagnosed with post-traumatic stress disorder related to his job. Mike Swan is seeking damages for lost compensation and benefits, improper paycheque deductions and in lieu of reasonable notice, says a statement of claim filed Dec. 19 in Alberta Court of Queen's Bench. The suit is also asking for "moral or … [Read more...]
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