CALGARY - The promotional video shows a small creek trickling through a mossy patch in an otherwise brown, barren landscape, icebergs looming just offshore. A petroleum engineer dips a hand into the stream, then takes a sniff. "It smells like crude oil," he says, grinning at the camera. A small group of contractors and engineers were filmed as they joined veteran U.S. oilman Robert Price on a visit to Jameson Land, a remote peninsula about halfway up Greenland's eastern coast. The [Read more]
Small population, big infrastructure needs: Northern Canada facing power struggles
Representatives from all three Canadian territories say the need to improve their aging electricity grids has reached a critical level requiring billions of dollars from the federal government to update, and in some cases, keep the lights on. Yukon's energy minister says the need is "no longer theoretical" after a frigid week in December nearly required rolling blackouts in Whitehorse. Temperatures nearing -50 C saw demand hit 90 per cent of what could be generated, at a time outside of [Read more]
Price surge from Trans Mountain expansion highlights need for new pipelines: MEI
CALGARY - A new report says Canada's ability to sell oil in markets outside of the United States has paid off big time so far, underscoring the urgent need for more pipelines to coastal waters. Public policy think tank MEI says the average price-gap between light U.S. and heavy Alberta crude blends narrowed by 37.5 per cent between the 18-month leadup to the Trans Mountain pipeline expansion's completion in 2024 and the 18 months that followed. It says that resulted in a US$16.7-billion [Read more]
LNG Canada, Coastal GasLink sign pipeline deal, bringing projects closer to reality
VICTORIA - The companies behind the Coastal GasLink pipeline and the massive LNG Canada facility in Kitimat, B.C., have signed agreements that bring both of their second phases closer to reality. TC Energy says the agreement to establish a "comprehensive commercial framework" is an important milestone for advancing its Coastal GasLink Phase 2, while supporting LNG Canada's pathway to a final decision on its second stage. The LNG Canada expansion is on Prime Minister Mark Carney's list of [Read more]
Alberta, Ottawa reach ‘agreement-in-principle’ on methane emissions
CALGARY - Alberta and Ottawa have reached an "agreement-in-principle" that puts the province in control of regulating its methane emissions, with final rules expected by the end of this year. The federal and provincial governments inked a sweeping accord in November touching on several energy policy matters, including a plan to reach a methane equivalency agreement on or before April 1 aimed at eliminating the overlap between federal and provincial rules. “Canada is strongest when we work [Read more]
National Bank CEO urges Canada to move faster on priorities in ‘dangerous’ world
MONTREAL - The chief executive of National Bank of Canada says he's not changing the bank's strategy because of the war in the Middle East, but he is urging a faster response from Canada to rising threats abroad. Speaking at the bank's financial services conference in Montreal, Laurent Ferreira says the country should be moving quicker on reducing internal trade barriers and boosting energy supplies. He says Canada needs to look to export more liquefied natural gas westward and transport [Read more]
Pipeline leak located more than a week after sheen first reported on Ontario river
A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River. Sun-Canadian Pipe Line says it pinpointed the leak on Saturday morning, nine days after the company said it was made aware of it on March 12. Suncor, which operates a Sarnia refinery, told local media it had located a "hydrocarbon sheen" on the St. Clair River on March 11 and it had been contained. The major Canadian oil company later said the leak was believed [Read more]
Poilievre pitches Canadian kindness on ‘The Joe Rogan Experience’ podcast
OTTAWA - Conservative Leader Pierre Poilievre laughed off a conspiracy theory about Justin Trudeau in the opening minutes of his 2.5-hour sit-down with podcaster Joe Rogan, where he made a case for Canadians being America's nice-guy neighbours. While talking about his early interest in politics, Poilievre mentioned that he read a biography of Fidel Castro. "Justin's dad!" Rogan interjected. The Conservative leader shook his head and laughed, "No, no, not Justin's dad," adding later that [Read more]
Banks moving forward on measuring key climate financing measure
TORONTO - National Bank and CIBC have committed to measuring how their fossil fuel financing compares with how much money they direct toward renewable energy, but not to making those numbers public. The measure, known as the energy supply ratio, is meant to provide a simple way to see how much banks are helping, or hindering, the push toward a low emissions economy. National Bank says in its latest proxy circular that, following discussions with advocacy group Share, the bank agreed to [Read more]
Canada, allies say they’re ready to help stop Iran’s shipping blockade
OTTAWA - Prime Minister Mark Carney has endorsed a statement from Canada and its allies expressing their willingness to contribute to efforts to reopen the Strait of Hormuz more than two weeks into the U.S.-Israeli war on Iran. The statement does not say how they propose to help, although Defence Minister David McGuinty says Canada is "considering" aiding Iran's neighbours if they seek assistance from the NATO alliance. In response to the U.S.-Israeli airstrikes launched on its territory [Read more]
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