CALGARY - Alberta's finance minister says Ottawa's latest fiscal update shows the federal government doesn't appreciate how badly the price squeeze on western Canadian crude is hurting the Canadian economy. "It's clear the federal government's not speaking the same economic language of Albertans," Joe Ceci said Wednesday. "Ottawa is living in a different economic planet." Ceci said he was disappointed the fall economic statement included no actions to help Alberta oil producers narrow the [Read more]
NEB reports crude-by-rail exports rose to a record 269,829 bpd in September
CALGARY - The National Energy Board says crude-by-rail exports from Canada rose to a record 269,829 barrels per day in September. That's up more than 17 per cent from 229,544 in August and just over double the 134,132 barrels per day recorded in September 2017. Total crude exports reached 3.47 million bpd in September, up from 3.31 million a year earlier. Pipeline export constraints are being blamed for a glut of oil in Western Canada that caused the price discount to peak at more than [Read more]
New tax incentives for investment could increase Canada’s emissions
OTTAWA - Finance Minister Bill Morneau says big greenhouse-gas emitters can take advantage of new tax incentives for manufacturers even as the government acknowledges that the resulting investment could increase emissions. Morneau's fall fiscal update will allow manufacturing and processing companies, including heavy emitters like oil producers and refiners, to write off the full cost of buying new equipment and machinery as soon as they put the purchases into use. The change is [Read more]
Freeland says Khashoggi killing still open; Trump says facts may never be known
OTTAWA - Foreign Affairs Minister Chrystia Freeland says Canada will use the upcoming G20 summit in Argentina to push Saudi Arabia for answers in the murder of journalist Jamal Khashoggi. Freeland says Canada considers his murder to be very much an open case, a contrast to a statement by U.S. President Donald Trump earlier today that the facts surrounding Khashoggi's death might just never be known. She expects the Khashoggi case to be an issue during the talks among leaders of [Read more]
NEB hearings on Trans Mountain pipeline start with Indigenous smudging ceremony
CALGARY - A rooftop smudging ceremony where herbs were burned and prayers said served as a proxy for swearing in as the oral traditional evidence gathering part of a National Energy Board reconsideration of the Trans Mountain pipeline expansion project began Tuesday. Lyne Mercier, vice-chair of the NEB and chairwoman of the three-member panel hearing evidence, welcomed Indigenous presenters from the Louis Bull Tribe about 80 kilometres south of Edmonton as the first to speak as three weeks of [Read more]
N.L.’s largest-ever oil spill is now impossible to clean up: regulatory board
ST. JOHN'S, N.L. - It's now impossible to clean up Newfoundland's largest-ever oil spill that leaked into the ocean last week, according to the regulatory board that oversees the province's offshore activities. The 250,000-litre spill happened on Friday morning while Husky Energy's SeaRose platform was preparing to restart production during a fierce storm that was, at the time, the most intense in the world. Scott Tessier, chief executive of the Canada-Newfoundland and Labrador [Read more]
Alberta adds more money for petrochemical diversification projects
EDMONTON - The Alberta government is expanding a royalty credit program to support petrochemical upgrading. Premier Rachel Notley says the province is adding $600 million to promote upgrading projects that she says will create jobs and boost the economy. A total of $1.1 billion will now be available in future royalty credits through the petrochemicals diversification program. The program, developed in 2016, previously committed $500 million in royalty credits and helped [Read more]
AltaGas appoints CEO to replace David Harris after sudden resignation in July
Calgary-based utility AltaGas Ltd. is appointing Randy Crawford as CEO four months after the sudden resignation of ex-CEO David Harris following an unspecified "complaint" to its board. In a news release, it says Crawford will take the reins on Dec. 10 from interim co-CEOs David Cornhill and Phillip Knoll, its chairman and a member of the board, respectively. AltaGas says Crawford has 30 years of experience in the natural gas industry and was most recently the president of [Read more]
Experts to work with energy industry on oil price solutions for Alberta
EDMONTON - Alberta Premier Rachel Notley has appointed three experts to work with the energy industry to find ways to close an oil price gap that she says is costing the Canadian economy $80 million a day. Notley says Canada is losing out because oil from Alberta is selling about $45 a barrel less than West Texas Intermediate in the United States. "We will lose that $80 million tomorrow and the day after and the day after, as long as this price differential remains in place," she [Read more]
Resource firm planning new N.B. wells if Tories lift fracking moratorium
FREDERICTON - A major player in natural gas development in New Brunswick is making plans for new wells if the province's new Tory government follows through on a pledge to lift a moratorium on fracking. Corridor Resources currently has 32 producing wells in the Sussex area and operates a 50 kilometre pipeline, a gathering system comprising 15 kilometres of pipe, and a natural gas processing facility. The company wants to expand but the previous Liberal government imposed a moratorium in [Read more]
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