VANCOUVER - Premier Christy Clark says her primary focus in an upcoming trip to Ottawa will be to bolster British Columbia's position as the top-ranking provincial economy in the country.Clark is slated to meet with federal government officials this week to discuss support for various B.C. industries and how the new Liberal government can strengthen her province's economic performance.She describes B.C.'s economy as a bright spot that is growing at nearly double the rate of the rest of the [Read more]
Premier Brad Wall says Trudeau should champion energy sector, Energy East
REGINA - Saskatchewan Premier Brad Wall says Prime Minister Justin Trudeau should take a stand and support the Energy East pipeline.Trudeau said last week that his role as prime minister in thorny issues such as pipelines is to bring people together and secure a better future for Canadians.Wall disagrees."We have a referee. It's the National Energy Board and it's the regulatory bodies and they should do their job, to be sure," Wall said Monday after a speech to the Saskatchewan Urban [Read more]
USD Group withdraws proposal to expand Alberta oil-by-rail facility
EDMONTON - A company that was proposing to expand the size of a rail facility to double the number of trains it can load with Alberta oil has shelved the project.USD Terminals Canada announced in November that it wanted to construct new tracks and loading buildings at its rail terminal in Hardisty, southeast of Edmonton."USD Group has presently withdrawn its Canadian Environmental Assessment Agency (CEAA) application and is reviewing its options," Meg Martin, a spokeswoman for the company wrote [Read more]
Alberta government unveils program to boost province’s petrochemical sector
CALGARY - The Alberta government aims to create thousands of jobs and reel in billions in investment by providing $500 million in royalty credits to the province's petrochemical sector.The Petrochemicals Diversification Program announced Monday is one example of how the NDP government aims to encourage more value-added processing in Alberta — turning raw materials into more lucrative products within the province rather than shipping them elsewhere."We understand that to create long-term [Read more]
Alberta may qualify for federal cash injection from little-known program
OTTAWA - The Liberal government is eyeing a little-known federal program as it searches for ways to help Alberta cope with the financial squeeze of sinking commodity prices, The Canadian Press has learned.The Alberta government is bracing for a steep fall in revenues in 2015-16 due to sliding resource prices, which could result in the province qualifying for cash relief from Ottawa through the so-called fiscal stabilization program.Provinces can make claims under the program when their revenues [Read more]
Five things to know about the ongoing parliamentary debate over pipeline policy
OTTAWA - Five things to know about the parliamentary debate over pipelines and the environment:— The Liberal majority, supported by New Democrat MPs, planned to vote against a Conservative party motion in the House of Commons seeking an endorsement of the Energy East pipeline project. Prime Minister Justin Trudeau called the motion "simply a rehash of their failed (Conservative) policies of the last 10 years."— The government announced late Wednesday that pipeline projects currently under review [Read more]
Royalty review: How Alberta calculates its oil and gas royalty take today
CALGARY - Alberta's current oil and gas royalty system, which has been in place since 2011, is complex. There are different formulas for oilsands, natural gas and conventional oil that take into account production rates and commodity prices.Here is a breakdown of how the province's royalty regime works today:Oilsands:— In a project's early stages, the rate is between one and nine per cent of gross revenue, depending on oil prices. Once a project reaches "payout" — covered upfront costs and [Read more]
Pipeline review changes no quick environmental fix: experts
EDMONTON - If the Trudeau Liberals are hoping that changes to pipeline reviews will get them off the hook from making tough decisions, they're out of luck.Experts say politicians will still have to balance emissions from regional industries under national targets to meet Canada's climate commitments."Measure, assess, etcetera — I think (it) makes perfect sense," said Andrew Leach, an energy economist at the University of Alberta."But then there's the more important question, which is how you [Read more]
Energy industry on ‘pins and needles’ ahead of Alberta royalty review
CALGARY - Alberta's oil and gas industry is on tenterhooks as it awaits the findings of the province's royalty review.A four-member panel has spent the past five months examining how the province charges energy firms to extract resources.Premier Rachel Notley will announce a new royalty framework in Calgary on Friday based on the panel's recommendations.Energy Minister Marg McCuaig-Boyd has said if there are any changes to the royalty system, they wouldn't take effect until the beginning of next [Read more]
Small and medium businesses plan to cut back 27% in Alberta this year: survey
CALGARY - A new survey shows small and medium-sized businesses in Alberta will slash spending more than expected this year as the oil downturn hits every level of the province's economy. The government-owned Business Development Bank of Canada says smaller businesses in the province plan to invest about $11 billion this year, 27 per cent less than last year.That compares with a 14 per cent increase in planned spending in British Columbia, and either flat or modest growth in spending across the [Read more]
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