WINNIPEG - A group concerned about an oil pipeline running next to Winnipeg’s water supply says the city needs to do a better job studying the risk.The Energy East line proposed by TransCanada Corp. would carry more than a million barrels of oil daily from Alberta to eastern Canadian refineries.In Manitoba, oil would move through an old natural gas line that runs parallel to and crosses under the aqueduct that carries Winnipeg’s drinking water.The city has earmarked $1 million to study the risk [Read more]
B.C. LNG industry could bring billions in taxes: Conference Board of Canada
VANCOUVER - A new study says Canada would get a big economic boost from a liquefied natural gas industry, especially British Columbia, including tens of thousands of jobs and billions of dollars in economic activity.The Conference Board of Canada's report was issued Monday as the future of Canada's LNG industry is complicated by low global energy prices that have delayed at least two B.C. projects.The board found that if the industry produces 30 million tonnes per year of LNG, Canada's economy [Read more]
B.C. to establish new law on environmental spill response and preparedness
VICTORIA - British Columbia's environment minister says potential polluters will face new penalties for spills and stronger rules governing cleanups as the government moves to amend environmental legislation.Mary Polak said Monday amendments to the Environmental Management Act also seek to establish a new spill preparedness and response system to tackle environmental emergencies."This legislation will allow us to require that companies not just report a spill and clean it up, but they actually [Read more]
Saskatchewan budget tanks on oil prices; deficit up to $427 million
REGINA - The low price of oil is gushing red all over the Saskatchewan government's budget.Finance Minister Kevin Doherty's third-quarter fiscal update is forecasting a deficit of $427 million for the current fiscal year. The budget tabled last March had anticipated a surplus of just over $100 million.The big hit comes on the revenue side where income from non-renewable resources is down $617 million."I don't know where the price of oil is going to go. I mean, if I knew where the price of oil [Read more]
Brad Wall won’t be signing any agreement that includes a national carbon tax
OTTAWA — The federal Liberal government remains determined to set a national price on carbon emissions, despite the vocal opposition of Saskatchewan Premier Brad Wall. And a widely cited price of $15 per tonne will not be the starting point, according to federal sources who spoke to The Canadian Press. Prime Minister Justin Trudeau sits down with provincial and territorial leaders next Thursday in Vancouver to discuss a national climate strategy, after which a series of working [Read more]
Conference Board says LNG would provide big boost to economy, if it goes ahead
VANCOUVER - A new study shows Canada would get a big economic boost from a liquefied natural gas industry, especially British Columbia, including tens of thousands of jobs and billions of dollars in economic activity.The Conference Board of Canada's report was issued Monday as the future of Canada's LNG industry is complicated by low global energy prices that have delayed at least two B.C. projects.The board found that if the industry produces 30 million tonnes per year of LNG, Canada's economy [Read more]
Five things to watch for in the Canadian business world in the coming week
TORONTO - Five things to watch this week in Canadian business:Oil-and-gas summit: The Western Canada Oil and Gas 2016 conference kicks off Monday in Calgary. Speakers include CEOs, investors, financiers, government leaders, First Nations representatives, community leaders, environmentalists and renowned experts — all of whom are expected to grapple with what's looming ahead for the beleaguered industry.Earnings galore: A slew of companies report their earnings this week, including Scotiabank and [Read more]
Possible Tory leadership hopeful O’Leary calls for referendum on oil pipelines
OTTAWA - Potential Conservative leadership contender Kevin O'Leary is calling for a national referendum on the construction of new oil pipelines in Canada.O'Leary tells a conservative convention in Ottawa that the decision on building pipelinees shouldn't be left to bickering politicians.He says Canadians should just be asked what they want and if the answer is no, the decision should be final.O'Leary — who says has not made up his mind whether to seek the leadership — says he does intend to be [Read more]
Ontario releases details of cap-and-trade prices, allowances and exemptions
TORONTO - Ontario's Liberal government has released details of its cap-and-trade program, which is expected to increase the price of gas and homeowners' natural gas bills, but gives some of the biggest polluters a four-year "holiday."The government is putting a price on carbon of about $18 a tonne and capping emission allowances at roughly 142 metric tonnes per year in 2017, when the plan rolls out, according to a series of details contained both in Thursday's budget and in draft regulations [Read more]
Notley: Alberta left to pick from a ‘menu of bad options’ amid crude collapse
CALGARY - Adding to an already hefty deficit is one of the unattractive choices Alberta has as it contends with the worst oilpatch slowdown in decades, Premier Rachel Notley said Friday.Notley said she's not pleased that Alberta is on track to run a deficit of $10 billion or more in the upcoming fiscal year.A more precise figure is expected when Finance Minister Joe Ceci outlines the province's 2016-17 budget in April."Quite honestly, it's been a series of making a selection from a menu of bad [Read more]
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