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]
New Brunswick fracking study calls for tight oversight before moratorium lifted
FREDERICTON - A study of a fracking moratorium in New Brunswick has endorsed a series of steep pre-production hurdles laid out by the Liberal government that opposition parties say will likely cause the industry to evaporate in the province.In a report released Friday, the three-member commission acknowledged the province is in desperate need of jobs and economic development, but avoided any firm declaration on whether the threshold the Liberals has set to make fracking viable can be met.The [Read more]
AltaGas halts development of Douglas Channel LNG amid global supply glut
CALGARY - AltaGas Ltd. said Thursday it has stopped work on the Douglas Channel liquefied natural gas project in British Columbia, delivering the latest setback for the province's LNG ambitions.During a conference call to discuss its financial results, AltaGas CEO David Cornhill said the consortium behind the project failed to secure sales contracts for LNG exports."Without a meaningful offtake agreement, the consortium can no longer continue the development of the project," said Cornhill.The [Read more]
Export Development Canada earmarks $750 million to help oilpatch firms
CALGARY - Export Development Canada is setting aside $750 million to help ailing oil and gas firms make it through the industry's worst downturn in decades.The assistance could take the form of commercial loans or guarantees, said Mark Senn, the Crown corporation's vice-president for Western Canada.The focus will be on small an medium-sized companies, many of which provide drilling and other services to oil and gas producers. EDC said that's where the funding can have the biggest bang for the [Read more]
More public money needed for energy sector R&D to cut emissions, costs: IEA
CALGARY - The International Energy Agency says Canada needs to put more public money towards research and development in the energy sector. The Paris-based organization says the funding injection is needed to make Canada's oil-and-gas industry more cost-competitive and reduce its environmental footprint. "This will contribute to reducing the environmental impact of energy use and production, as well as the cost of natural resource development, notably for oilsands operations," said the [Read more]
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