OTTAWA - Some of Canada's allies are praising Ottawa's work on preventing Russia from smuggling oil through concealed ships — ships that Ottawa fears could someday unleash an environmental cataclysm in the Arctic. Canada and its allies have blacklisted more than 400 unregistered ships — known as shadow vessels — in just six months. The effort aims to starve Russia of funding for its war on Ukraine while preventing leaky ships from one day compromising Canada's Arctic environment. "The [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 make an interest rate announcement and release its fall monetary policy report on Wednesday. Most economists expect the central bank to cut its policy interest rate, even after inflation numbers last week came in higher than expected. Railway earnings Canada's big railway companies are expected to report their third-quarter results this week. Canadian [Read more]
Alberta’s latest pipeline push dredges up ghosts of projects past
CALGARY - Few are as acquainted with Canada's graveyard of defunct oil pipelines as Alex Pourbaix, a former executive at the company behind the Keystone XL and Energy East proposals. "You can see the scars on my back," he quipped at a news conference earlier this month, twisting his body at the lectern for emphasis. Pourbaix was on hand as the Alberta government announced plans to propose a new West Coast bitumen pipeline to the freshly created federal Major Projects Office, which aims [Read more]
Carney aims to sell Canada as reliable partner for trade in Southeast Asia
Prime Minister Mark Carney is pitching Canada as a reliable partner for Southeast Asia, one that's committed to rules-based trade at a time when U.S. President Donald Trump is rewriting global trade norms. He's heading to the Association of Southeast Asian Nations summit, known as ASEAN, seeking to drum up investment into Canada that will help achieve the nation-building plans that formed a central plank of the Liberals' election platform. In a speech previewing his government's first [Read more]
Premier Smith affirms Alberta’s 2050 net zero goal in testy committee appearance
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]
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