CALGARY - Encana Corp. (TSX:ECA) says the underwriters of its recent public stock offering have exercised all their options to acquire an additional US$150-million worth of the oil and gas company's equity. That brings the total value of the stock offering to US$1.15 billion, including money raised through the initial sale of 107 million common shares at US$9.35 each. The Calgary-based company has said it will put about half of the proceeds from the offering on its 2017 capital [Read more]
Northern Alberta chief says Aboriginal oilsands foes are poorly informed
CALGARY - A treaty signed by more than 50 aboriginal groups who oppose oilsands project and pipeline developments is based on misinformation, says a northern Alberta chief whose First Nation does extensive business with oilsands companies. "I was disappointed by the announcement. I felt it was not informed with respect to the people that are affected," said Chief Jim Boucher of the Fort McKay First Nation. "Our community up there in the Athabasca tarsands is immersed in the [Read more]
Five things to know about the new national floor price for carbon emissions
MONTREAL - Prime Minister Justin Trudeau delivered a bombshell in the House of Commons on Monday as federal, provincial and territorial environment ministers were meeting in Montreal to negotiate a pan-Canadian climate plan. Here are five things to know: 1. Trudeau's announcement appeared to stun just about everyone in the Montreal hotel room where environment ministers were cloistered. Federal Environment Minister Catherine McKenna raised her hand to speak at the meeting at exactly the [Read more]
Five things to know about Canada’s carbon pricing landscape
Prime Minister Justin Trudeau announced a national "floor price" on carbon Monday that would require all provinces and territories to have some form of carbon pricing by 2018. Here are five things to know about putting a price on carbon: Why a carbon price? Putting a price on carbon is meant to give people and companies an incentive to look for lower emission options to save money. The price can come in the form of a specific tax or levy, like the minimum $10 per tonne [Read more]
Federal carbon tax plan shows disrespect, will hurt economy: Wall
REGINA - Saskatchewan Premier Brad Wall says Ottawa's plan to unilaterally impose a price on carbon across Canada shows what he calls a stunning level of disrespect. Wall says in a statement to media that the national focus on carbon pricing holds the lowest potential for reducing emissions, while potentially doing the greatest harm to the Canadian economy. The premier says Saskatchewan's economy is already hurting from a downturn in commodity prices and will be one of the [Read more]
Manitoba premier noncommittal on carbon tax in response to federal plan
WINNIPEG - Manitoba Premier Brian Pallister is ruling out a cap-and-trade system in his province as part of a national strategy to reduce emissions, but he's not definitive on a possible carbon tax. Prime Minister Justin Trudeau has given the provinces until 2018 to either institute a cap-and-trade approach or set a carbon price of at least $10 a tonne. Pallister says any federal plan should recognize that Manitoba has already moved toward cleaner energy through hydro [Read more]
Oil company gives Saskatchewan First Nation compensation for oil leak
MELFORT, Sask. - A Saskatchewan First Nation has received compensation from Husky Energy due to damage from its oil spill in July. Husky spokesman Mel Duvall says the James Bay Cree First Nation has been given money, but he wouldn't say how much. Duvall says Husky (TSX:HSE) had oil-sniffing dogs working last week along the North Saskatchewan River and they did find evidence of oil. The First Nation, about 60 kilometres east of Prince Albert, had ordered residents to not [Read more]
Alberta won’t support Ottawa’s climate change plans without a pipeline: Notley
EDMONTON - Alberta Premier Rachel Notley says the province will not support Ottawa's climate change plan unless the federal government makes progress on new oil pipelines to Canada's coasts. Prime Minister Justin Trudeau announced a national "floor price" on carbon Monday as he kicked off debate in the House of Commons over whether Canada should ratify the Paris accord on climate change. Notley immediately issued a statement saying her government supports a common carbon price. [Read more]
B.C. says Petronas is not considering sale of proposed LNG terminal
VANCOUVER - The Malaysian state-owned oil firm Petronas denies a report that the company was considering selling its stake in a multibillion-dollar liquefied natural gas project in British Columbia. A statement from Petronas says it remains committed to working with its partners following a conditional approval from the federal government for the proposed Pacific NorthWest LNG project. A news report indicated the firm was pondering selling its stake, which the company says it [Read more]
Ex-TransCanada CEO says Energy East setback a win for anti-development activists
BANFF, Alta. - Delays caused by the replacement of a panel reviewing the Energy East Pipeline project show that Canada's regulatory system is flawed and must be fixed, says a former CEO of proponent TransCanada. Hal Kvisle said Thursday the recusal of a National Energy Board panel in early September just after hearings on the controversial project began was a victory for activists whose only objective is to block the process. "I think it's another failure of (the) regulatory [Read more]
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