OTTAWA - Alberta Premier Danielle Smith reiterated her province's commitment to becoming a carbon neutral economy by 2050 at a parliamentary committee on Thursday, where MPs are studying Canada's emissions reduction plan for the end of this decade. Her virtual appearance included testy exchanges as Bloc Québécois MP Patrick Bonin repeatedly demanded to know whether Smith believes in climate change. She suggested that as a Quebecer, he could not grasp the substance of one of Canada's biggest [Read more]
B.C. First Nations make legal challenges to huge Ksi Lisims LNG project
VANCOUVER - Two British Columbia First Nations are taking the federal government to court to quash a decision approving the Ksi Lisims floating natural-gas facility and marine export terminal. The Lax Kw'alaams Band and the Metlakatla First Nation filed separate judicial reviews in Federal Court earlier this month, alleging the Minister of Environment and Climate Change ignored their concerns about the adverse impacts of the massive LNG project. The Impact Assessment Agency of Canada [Read more]
Carney says ports, minerals key to his plan to double non-U.S. exports
OTTAWA - Building up port infrastructure and exporting more resources like the critical minerals in Ontario's Ring of Fire are key parts of Ottawa's plans to double non-U.S. exports, Prime Minister Mark Carney said Thursday. "Part of those strategies that are consistent with the goal are new energy and trade corridors," Carney told a news conference in Bowmanville, Ont. Carney announced Wednesday that he has set an "ambitious" goal of doubling Canada's non-U.S. exports over the next decade [Read more]
Cenovus delays MEG Energy shareholder vote of takeover offer
CALGARY - Cenovus Energy Inc. says a vote by MEG Energy Corp. shareholders on its proposed takeover offer is being postponed after it appeared to be on course to fall short of the required two-thirds majority to be approved. The company said Tuesday at the time of the postponement that about 63 per cent of the MEG shares represented by proxy or expected to be voted in person at the meeting backed the bid. Cenovus says Strathcona Resources Ltd., which owns a 14 per cent stake in MEG and [Read more]
Five things to watch for in the Canadian business world in the coming week
TORONTO - Five things to watch for in the Canadian business world in the coming week: Bank of Canada The Bank of Canada is expected to release its business outlook survey and its Canadian survey of consumer expectations on Monday. The central bank cut its policy interest rate by a quarter of a percentage point last month to 2.5 per cent as it noted the balance of risks had shifted in favour of cutting. It said the economy was weaker and, while there were still some mixed signals, [Read more]
Trans Mountain faces $292k environmental fines after 2024 B.C. rainstorm: regulator
Trans Mountain is facing $292,000 in regulatory fines for alleged environmental issues in January 2024 along a stretch of its British Columbia pipeline expansion route hit by a major rainstorm. The Canada Energy Regulator posted four penalties dated Oct. 3 to their website and referred The Canadian Press to an inspection order and compliance report when asked for details. The inspection order details alleged issues with watercourse crossings, questionable response times, broken wildlife [Read more]
B.C. Premier Eby says lifting the tanker ban would sink billions in ‘real’ projects
VICTORIA - Lifting the oil tanker ban off British Columbia's North Coast for a nonexistent pipeline from Alberta would endanger billions in other real investments that Premier David Eby says will need the support of coastal First Nations. Eby says he's asking the federal government to reaffirm its support for the tanker ban off the West Coast, after Prime Minister Mark Carney said on Friday that lifting the tanker ban would depend on a number of factors. Alberta Premier Danielle Smith has [Read more]
Parkland-Sunoco deal receives Investment Canada Act approval
CALGARY - Parkland Corp. says the federal government has granted Investment Canada Act approval for Sunoco LP's proposed takeover of the company, a key regulatory milestone for the deal. The company says the transaction is expected to close in the fourth quarter of this year, subject to remaining regulatory approvals and the satisfaction or waiver of customary closing conditions. Parkland and Sunoco announced the friendly cash-and-stock deal valued at US$9.1 billion including assumed debt [Read more]
Alberta Premier Smith says Ottawa is dodging responsibility for pipeline decision
EDMONTON - Alberta's government says Ottawa is dodging responsibility by not standing behind a proposed pipeline project to the B.C. coast. Premier Danielle Smith's office says the decision to build a pipeline lies solely with Prime Minister Mark Carney and the federal government. Her spokesperson Sam Blackett says anything short of decisive support would be a betrayal of the constitutional rights of Alberta's citizens and call into question whether Canada is a functional democracy. It [Read more]
‘It depends’: Carney shifts stance on maintaining emissions cap
OTTAWA - Prime Minister Mark Carney says the fate of the emissions cap on oil and gas producers depends on other efforts to lower emissions. Carney's comment, coming in response to a question from a reporter at an event in Ottawa today, appears to be a shift from his stance before the election, when he committed to keeping the emissions cap in place. Carney was asked if he is considering dropping the cap and the tanker ban along the B.C. coast — both measures the oil and gas industry and the [Read more]
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