OTTAWA - Opposition New Democrats say the federal government needs to better define what it means to truly consider the wishes of Indigenous communities before it launches into any new consultations over the stalled Trans Mountain pipeline project. NDP MP Rachel Blaney has asked a Commons committee to examine why a court rejected the Trudeau cabinet's approval of the pipeline expansion and to come up with ways to provide Canadians with more certainty around such major undertakings. [Read more]
Baloney Meter: Are Liberals to blame for cancelled energy projects?
OTTAWA - "The Liberals are failing Canadians by destroying investment confidence in the energy sector in Canada… The reality is this: that under the Liberals more energy investment has been lost than any other time frame in 70 years, $100 billion of energy projects cancelled." — MP Shannon Stubbs, Conservative natural resources critic, Sept. 4. Shannon Stubbs, the official Opposition's natural resources critic, appeared before a Commons committee this week to demand a probe into [Read more]
Indigenous groups have specific, measurable requests that could save pipeline
OTTAWA - Rerouting the pipeline expansion to avoid a First Nation's aquifer and ensuring another First Nation will always be immediately notified of a pipeline spill are among the steps Ottawa could take to address Indigenous concerns about the Trans Mountain pipeline. The pipeline already runs between Edmonton and Burnaby, B.C. carrying various types of crude and refined oil products to be shipped on tankers through the Burrard Inlet to the Pacific Ocean. The expansion proposes to build a [Read more]
Prime minister promised new timeline on TMX pipeline in weeks: Alberta premier
CALGARY - Alberta Premier Rachel Notley says the federal government has promised a fast-track timeline to resume construction on the stalled Trans Mountain pipeline expansion project. "The prime minister pledged to me that a clear and reliable timeline to resume construction will be established within weeks, not months," Notley told reporters Thursday after a meeting with officials and oil industry leaders. "We've both instructed our officials to get to work immediately and burn the [Read more]
Surge Energy signs $320-million deal to acquire Mount Bastion Oil and Gas
CALGARY - Surge Energy Inc. has signed a deal to acquire Mount Bastion Oil and Gas Corp. for $320 million in cash and stock. Mount Bastion shareholders may choose between cash, Surge shares or a combination of both, with a limit of $145 million cash available and roughly 75.4 million shares. Surge says it expects to increase its dividend to 12.5 cents per year from 10 cents once the deal closes. The Mount Bastion assets include roughly 5,500 barrels of oil equivalent per [Read more]
Liberals block Tory plans to set up Trans Mountain pipeline probe
OTTAWA – The federal Liberals are refusing to let two ministers overseeing the Trans Mountain pipeline appear before a committee of MPs to explain what’s next for the expansion project whose future is uncertain. Liberal MPs on the natural resources committee used their majority to quash a Conservative motion that called for six special meetings to probe the pipeline’s prospects and drill into why the government bought the existing pipeline for $4.5 billion, knowing a court decision [Read more]
Suncor won’t approve more oil production expansions until pipeline progress: CEO
NEW YORK - The head of Suncor Energy Inc. says Canada's largest oil and gas producer won't move ahead with additional crude production expansions until there's physical progress on getting pipelines approved. Chief executive Steve Williams told a Barclays investor conference in New York that recent judicial rulings affecting Keystone XL and Trans Mountain pipeline don't have any short-term impacts on Suncor's ability to get its product to market. But he says further production expansions [Read more]
Crescent Point Energy cuts 17% of workforce, plans to reduce debt by $1 billion
CALGARY - Crescent Point Energy Corp. says it plans to reduce its workforce by 17 per cent, sell some infrastructure assets and reduce its debt by more than $1 billion by the end of 2019. The Calgary-based company says the workforce reduction will lower expenses by more than $50 million annually, but it didn't say how many people would be affected. According to a regulatory filing, it had 1,085 permanent employees at the end of December, including 462 at its head office. [Read more]
Trans Mountain to be discussed at Trudeau-Notley meeting in Edmonton
EDMONTON - Prime Minister Justin Trudeau will be in Edmonton today, where he'll face questions about his government's plans for the beleaguered Trans Mountain pipeline expansion. The prime minister's office says Trudeau will meet with Premier Rachel Notley this afternoon. A spokeswoman for Notley says the meeting will be about the pipeline, and that the premier hopes to discuss possible paths forward for the controversial project. The Federal Court of Appeal last week reversed a cabinet [Read more]
Canadian oilpatch rules could cut global emissions, study concludes
CALGARY - New research concludes that Canada has one of the most carbon intensive oil industries in the world. But the same University of Calgary study says Canada is a world leader in regulations that could reduce the industry's climate-change impact. The study, published in the journal Science, says that Canada emits more carbon for the amount of oil it produces than almost any other country. Only Algeria, Venezuela and Cameroon are higher on the list The paper [Read more]
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