WASHINGTON - Bleeding support from his own party, Donald Trump attempted to salve the gusher Monday with the balm of traditional Republican economic medicine: wide-ranging deregulation and tax cuts. The Republican nominee proposed a plan to shrink government and grow the economy with an across-the-board regulatory reduction and tax cuts that would apply to wealthy estates, companies and several classes of individuals. He would end American participation in the global climate [Read more]
National Energy Board opens hearings on Energy East Pipeline in New Brunswick
SAINT JOHN, N.B. - TransCanada Corp. stressed its commitment to the safety of oil shipments as three days of hearings into the proposed $15.7 billion Energy East pipeline project opened in New Brunswick on Monday. "We are committed to delivering this oil safely, responsibly, and reliably, and our goal is to have zero incidents," said John Van der Put, vice president of eastern oil pipeline projects for TransCanada Corp. (TSX:TRP). He told a three-member National Energy Board [Read more]
NEB hearings on Energy East Pipeline set to begin in Saint John, N.B.
CALGARY - The National Energy Board is set to begin public hearings Monday into the Energy East Pipeline in New Brunswick, a province where the prospect of oil and gas development has led to fierce, and sometimes violent, protest in the past. A three-member panel tasked with deciding the fate of the controversial $15.7 billion development will start the hearings in Saint John, where the oil that would be shipped through the proposed 4,500-kilometre project would be refined. In [Read more]
Alberta jobless rate hits near 22-year high, ahead of Nova Scotia for first time
CALGARY - Alberta's monthly unemployment rate climbed to its highest level in nearly 22 years in July, marking the first time the province has had a worse jobless rate than Nova Scotia, Statistics Canada said Friday. The federal agency reported that Alberta's rate rose to 8.6 per cent last month — the highest since September 1994 — from 7.9 per cent in June. That's above the 8.4 per cent July unemployment rate in Nova Scotia, the first time Alberta has had a higher rate since [Read more]
Claims centre opens for people with losses because of Saskatchewan oil spill
PRINCE ALBERT, Sask. - An insurance claim clinic has opened in Saskatchewan to help people affected by an oil spill, but both the province and Husky Energy officials says it too early to put a dollar figure on the disaster. A Husky Energy pipeline leak detected July 21 spilled up to 250,000 litres of oil mixed with a lighter hydrocarbon into the North Saskatchewan River near Maidstone, Sask., and forced communities downstream to close drinking water intakes. Businesses such as [Read more]
GMP Capital Inc. to acquire FirstEnergy Capital for $98.6 million
TORONTO - GMP Capital Inc. (TSX: GMP) is buying brokerage firm FirstEnergy Capital Corp. in a deal valued at $98.6 million. GMP issued a statement Thursday that it was appealing to join forces with a highly respected industry leader that has been part of the "fabric of Canada's energy culture for nearly a quarter century." FirstEnergy was founded in 1993 and has provided advisory and investment services to a broad range of corporate clients across the world. One of the [Read more]
NEB approves TransCanada’s 12-kilometre natural gas pipeline north of Toronto
CALGARY - The National Energy Board has conditionally approved an 11.7-kilometre natural gas pipeline set to run through the city of Vaughan, Ont., just north of Toronto. In a letter issued Thursday, the NEB said the TransCanada Corp. (TSX:TRP) pipeline will be subject to 19 conditions, including Aboriginal monitoring of construction for potential archaeological finds and habitat protection of the western chorus frog. The NEB said TransCanada has also made route changes to the [Read more]
Minister defends move to put cost of cap-and-trade in delivery line on bills
TORONTO - Premier Kathleen Wynne is defending the decision to bury the cost of Ontario's cap-and-trade plan in the "delivery" line on natural gas bills. The Ontario Energy Board announced last week that costs related to the Liberals' climate change plan would not appear in a separate line item on consumers' bills for natural gas, which is used to heat most homes in the province. Wynne said Thursday that the government doesn't interfere with decisions made by an arms-length agency [Read more]
Canadian Natural says Horizon oilsands expansion is on track; losses continue
CALGARY - Flooding in northeastern B.C. in June that exposed pipes and washed out an access road at a natural gas processing plant, prompting it to shut down, has interrupted about 10 per cent of gas production by Canadian Natural Resources Ltd., the company said Thursday. In its second quarter report, Canada's largest gas producer said the closure of the Pine River Gas Plant has forced it to cap wells that were producing 176 million cubic feet of natural gas per day. Canadian [Read more]
As oilpatch bleeds jobs, Alberta’s high-tech sector finds itself in need of workers
CALGARY - When Jeff Forsyth was laid off by Cenovus Energy during a company-wide downsizing last fall, he had an advantage over the hundreds of fellow employees who also found themselves out of work. His experience with a successful oilfield technology startup, along with expertise in chemistry and project management he honed at Cenovus, helped him land a new job as CEO of nFluids Inc., a five-person research firm developing new industrial products based on nanoparticle technology. [Read more]
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