EDMONTON - Alberta's credit rating has been downgraded again.Standard & Poor's has changed the province's rating from double-A-plus to double-A.The company says the downgrade reflects what it calls "Alberta's very weak budgetary performance and high, increasing debt burden."It also cites uncertainty about the province's willingness to take measures to improve its budget shortfalls within the next two years.Last month, Moody's Investor Service and DBRS both downgraded Alberta's credit rating due [Read more]
B.C. minister applauds LNG agreement between Fortis, Hawaiian Electric
VICTORIA - Energy company Fortis Inc. (TSX:FTS) has signed an agreement to provide liquefied natural gas from British Columbia to the Hawaiian Islands. B.C.'s minister of natural gas development Rich Coleman says the agreement between Fortis and Hawaiian Electric Company is one of the first to export LNG from this province. A news release from Fortis says the 20-year agreement is still subject to regulatory approvals in B.C. and Hawaii, but could see 800,000 metric tons of LNG shipped from [Read more]
Crews hold back Fort McMurray fire from oilsands as flames move into Saskatchewan
EDMONTON - Crews were holding a destructive wildfire away from oilsands facilities and communities in northern Alberta on Thursday as flames spread into neighbouring Saskatchewan.The blaze, dubbed "the beast" by firefighters after it entered Fort McMurray two weeks ago, has grown to about 5,000 square kilometres in size, with nearly eight square kilometres stretching over the Saskatchewan boundary.Alberta senior wildlife manager Chad Morrison said the fire has burned the same amount of forest as [Read more]
Key dates in the history of the Trans Mountain oil pipeline from Alberta to B.C.
CALGARY - Kinder Morgan's proposal to triple the capacity of its 63-year-old Trans Mountain oil pipeline to 900,000 barrels per day has faced a rough ride from environmentalists, aboriginal groups and municipalities. It is not the first expansion of the pipeline, but it has faced the most scrutiny. Here are some key dates in the history of the Trans Mountain pipeline, which was granted conditional approval Thursday by the National Energy Board for its planned expansion: October 1953: The [Read more]
Energy board expected to release ruling on expanded Kinder Morgan pipeline today
VANCOUVER - The National Energy Board says the contentious $6.8-billion Trans Mountain pipeline expansion is in Canada's best interests, despite increased greenhouse gas emissions and threats to killer whales off British Columbia's coast.The federal regulator issued its long-awaited report on Thursday after a two-year debate that cost millions and galvanized aboriginal and environmental protests. The board recommended Ottawa approve Kinder Morgan Canada's proposal subject to 157 [Read more]
As Trans Mountain report looms, a look at the state of pipelines in Canada
VANCOUVER - The National Energy Board will release a long-awaited report Thursday that will reveal whether it supports Kinder Morgan Canada's proposed Trans Mountain pipeline expansion. The pipeline was estimated to cost $5.4 billion, but the company said last year that it would be more like $6.8 billion. A positive recommendation would lift a major hurdle to the expansion, but Trans Mountain, like other pipeline projects in Canada, still has a long way to go before shovels are in the [Read more]
B.C. premier says it’s time feds approve LNG but denies linkage to oil pipelines
OTTAWA - It's long past time for the federal government to issue environmental permits for a multibillion-dollar liquefied natural gas terminal in Prince Rupert, B.C. Premier Christy Clark said Wednesday while confirming she's in three-way talks with Ottawa and Alberta over hydro sales.Clark's demand ups the pressure on the Trudeau Liberals, who have so far avoided hard choices on resource projects that are being squeezed between pro-development premiers and environmental and indigenous [Read more]
Energy board to release ruling on Kinder Morgan pipeline expansion Thursday
VANCOUVER - The National Energy Board will issue its report on Kinder Morgan's Trans Mountain pipeline expansion project on Thursday. The report will reveal whether the board supports plans to triple the capacity of the pipeline, which carries diluted bitumen from oilsands near Edmonton across southern British Columbia to Burnaby for export. If approved, the expansion would add or reactivate almost 1,200 kilometres of pipeline and would also expand the Westridge Marine Terminal in Burnaby, [Read more]
Fort McMurray evacuation begins third week with no sign of return to normalcy
EDMONTON - The Alberta government says people from the fire-ravaged city of Fort McMurray could start going home starting June 1 if conditions are safe, but warned there will only be basic services and a partially open hospital."Remember, many hazards remain in Fort McMurray," Premier Rachel Notley said Wednesday."We need to address all of them before it is safe for residents to begin to return."Notley said the re-entry will be done in stages over two weeks. The city will not be suitable for [Read more]
Wildfire resiliency built into oilsands projects, experts say
CALGARY - Wildfires that ravaged some neighbourhoods in Fort McMurray and forced 80,000 to flee the city two weeks ago are now chewing through the wilderness further north, where major oilsands projects are located. A 665-unit work lodge has burned down and two more are under threat. But experts and officials say they aren't expecting serious harm to the oil-producing facilities themselves. Here's why:There's a built-in buffer zone:Oilsands projects — whether they involve scooping the ore out of [Read more]
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