CALGARY - The C.D. Howe Institute has some advice for Alberta's royalty review panel: focus on the design of the system rather than the rates oil and gas producers have to pay.A new report from the think-tank argues Alberta's current regime for conventional oil and natural gas royalties in Alberta leaves a lot to be desired.Right now, those royalties are calculated based on gross revenues, but the report says a cash-flow tax would be a better way to increase the government's take without [Read more]
Notley tells business leaders energy industry must clean up its act
EDMONTON - The energy industry will be critical to Alberta's economy for many years to come, but it must "clean up its environmental act," the province's premier told business leaders Tuesday night.In her keynote address to the Alberta Chambers of Commerce, Premier Rachel Notley acknowledged the fiscal challenges facing the province while sounding a note of optimism about its future.She said her NDP government will work to promote a healthy business climate, noting she will be travelling to New [Read more]
Encana reports natural gas well blowout in northern Alberta, AER investigates
FOX CREEK, Alta. - Emergency protocols kicked into gear Monday afternoon after a natural gas well blowout in northern Alberta.Peter Murchland of the Alberta Energy Regulator said they were notified of the blowout about 2 p.m. on Monday by Encana Corp. (TSX:ECA).The well, located about 18 kilometres west of Fox Creek, is licensed for hydrogen sulfide, a poisonous gas that smells like rotten eggs."We don't have all the details at this point," said Murchland. "At this point, we haven't identified [Read more]
Companies increasingly putting price on carbon to plan for risk – report
CALGARY - A new study shows companies in Canada and around the world are increasingly putting a price on carbon emissions in their financial planning in order to mitigate risks.The London-based CPD organization says 437 companies factored in carbon pricing in 2015, nearly triple the 150 companies from last year, as climate change becomes part of mainstream business decision-making globally.The report found that in North America, the number of companies assuming a price on carbon has more than [Read more]
First Nation to claim land title to block Pacific NorthWest LNG terminal
LELU ISLAND, B.C. - A northern British Columbia First Nation says it is seeking aboriginal title to the land where a Malaysia-led consortium hopes to build a $36-billion liquefied natural gas terminal.The Lax Kw'alaams First Nation says it will launch an action claiming title to Lelu Island and Flora Bank, where the Pacific NorthWest LNG project would be built.The nation says if it successfully establishes title, the province would have to seek its consent for massive projects like the one [Read more]
Saskatchewan’s Wall urges oil industry to fight celebrity critics with ‘facts’
REGINA - Saskatchewan's premier is urging the oil and gas industry to do a better job selling itself or risk losing the battle for public opinion to celebrity critics who he says have unrealistic ideas on how quickly the world can kick carbon.Brad Wall told the Canadian Energy Pipeline Association there is a growing, vocal minority that want the industry shut down completely and they are influencing policy-makers."We're at some disadvantage when it comes to this argument. The other side has [Read more]
NDP predicts four surpluses, will increase corporate taxes to 17%
OTTAWA – Federal spending on health care under an NDP government would jump beyond what Conservative budgets have forecast, with much of that money tied to programs and commitments Tom Mulcair leader promised this week. Under the Conservative plan, the annual increase in health-care spending is to drop to at least three per cent from six per cent starting in fiscal year 2017-18, while the NDP plans to keep it at six per cent overall. Figures provided by the NDP show that in the 2017-18 [Read more]
Alberta regulator says Nexen Energy can resume more oilsands pipeline operations
CALGARY - Alberta's energy regulator says Nexen Energy can resume more oilsands operations after it was forced to shutdown pipelines for not complying with maintenance and monitoring rules.Last month the company, a subsidiary of Chinese state-owned CNOOC Ltd., was ordered to cease operating 95 pipelines.The suspensions came as the regulator was investigating a July 15 pipeline spill at Nexen's Long Lake operation that leaked about five million litres of bitumen, produced water and sand into [Read more]
Alberta government made recession worse by ‘raising taxes on everybody,’ Harper says
VANCOUVER — Federal Conservative Leader Stephen Harper may have opened a new battlefront with Alberta’s NDP premier. After a campaign announcement Tuesday in North Vancouver, Harper said Alberta has fallen deeper into recession since Premier Rachel Notley was elected in the spring. “We know why there’s a recession. It’s not because the (federal) government ran a $2-billion surplus. There’s a recession because oil prices have fallen by half,” Harper said. “And the recession has been made [Read more]
Refinery issues south of the border may bump up gas prices in Western Canada
KAMLOOPS, B.C. - Gasoline prices have been down over the summer thanks to a plunge in oil prices, but a senior analyst at the consumer website gasbuddy.com warns a change is on the way.Dan McTeague predicts motorists from Thunder Bay to British Columbia will be paying more when gas prices jump as much as five to seven cents a litre. He says speculators are pushing up the wholesale price of gas by 4.5 cents per litre.The hike is partly due to seasonal maintenance at several Midwest U.S. [Read more]
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