EDMONTON - Alberta's finance minister says low oil prices may force him to hit the brakes on millions of dollars in initiatives promised by the NDP government such as child-care benefits, school fee reductions, student hiring and environmental retrofits.Joe Ceci said in a year-end interview that some or all of a dozen programs set to begin in the 2016-17 fiscal year may be delayed."We've addressed a lot of (our commitments). We've done a lot of them," Ceci told The Canadian Press. "The ones that [Read more]
Protest at valve site disrupts operations on Line 9 pipeline in Sarnia
SARNIA, Ont. - Enbridge Inc.'s Line 9 pipeline was offline for about 90 minutes on Monday morning after three activists concerned about the line's environmental impacts locked themselves to a valve site on the outskirts of Sarnia, Ont.The line, which runs from southwestern Ontario to Montreal, is back in service and crude deliveries have not been affected, said company spokesman Graham White.Lindsay Gray, speaking on behalf of the trio of "land defenders" who staged the protest, said it was [Read more]
Oil price collapse named Business Story of the Year for second year in a row
CALGARY - The price of oil — and its far-reaching impact on the Canadian economy — has once again been voted The Canadian Press Business Story of the Year.Editors and news directors across the country chose the crude collapse in a landslide with 24 votes. It's the second year in a row that story got top billing in the annual survey."Was there any Canadian business story this year that wasn't, in part, driven by tumbling oil prices?" asked Nicole MacAdam, senior editor at the Financial Post."From [Read more]
Kinder Morgan presses on with review process while waiting on word from Ottawa
CALGARY - Kinder Morgan gave its final arguments for the proposed Trans Mountain pipeline expansion Thursday but still doesn't know what changes are in store from the new federal government.Ian Anderson, president of Kinder Morgan Canada, said in a conference call he appreciates that federal ministers have given reassurance that projects won't go back to square one in the National Energy Board review, but he is still waiting to hear details of any potential changes to the process."They've said [Read more]
Return to East Coast from oilpatch a struggle for some, fresh start for others
TRURO, N.S. - As the days go by with no phone calls offering work in the Alberta oilpatch, Jared Park worries about how he'll pay for his son's leukemia medicine."It's a struggle. You don't know when or if you're going to make it back to work. You just hope you get that call," said Park as five-year-old Mason wriggled and bounced on the sofa in his tidy Truro, N.S., bungalow."For Mason, it's important because part of our drug plan covers the medicine for his chemotherapy." The 30-year-old father [Read more]
Experts see more good than bad for Canada’s oilpatch if U.S. oil export ban ends
CALGARY - Experts see more good news than bad for Canada's energy industry if the U.S. lifts its decades-old ban on oil exports.The ban came into force when oil shortages were commonplace 40 years ago — a stark contrast to today's U.S. glut, thanks to fracking in shale formations in Texas and North Dakota.Congressional leaders have reached a deal on a massive spending bill that includes allowing the sale of U.S. crude in the global market.Skip York, a vice-president at consulting firm Wood [Read more]
Shale gas producers slash 2016 spending but plan increased production
CALGARY - Shale gas producers in Western Canada are responding to plunging natural gas prices by slashing their 2016 budgets.NuVista Energy Ltd. has cut its budget in half, while Encana Corp. and Painted Pony Petroleum Ltd. have cut their budgets by 25 per cent as natural gas prices sink to some of the lowest levels of the past decade."Companies are becoming quite challenged into the next year in terms of investment and how much money they're going to be able to put into the ground just because [Read more]
Canada’s oilpatch adjusts to the ‘new normal’ after a year of pain
CALGARY - The stream of traffic between Cold Lake, Alta., and nearby oilfields has slowed to a trickle."It's definitely a noticeable slowdown," said Mayor Craig Copeland, who has been hearing from hotels, restaurants and retailers that business is down about 30 per cent year-over-year in the oilpatch's bedroom community.It's not much of a surprise, with crude prices spending most of the year under US$50 a barrel and sinking below US$40 a barrel this month. Most analysts expect the doldrums to [Read more]
Companies in ailing oilpatch look for ways to avoid or delay layoffs
CALGARY - Companies in the ailing oilpatch are looking at ways to avoid layoffs — or at the very least to delay or minimize them.Canadian Natural Resources Ltd. (TSX:CNQ) has not had to trim its workforce of more than 7,600 as a result of the crude price collapse."In lieu of layoffs, we went to our staff and said 'we will do wage reductions.' And every employee who made more than $50,000 had a wage reduction," chairman Murray Edwards said to applause at a recent business forum in Lake Louise, [Read more]
Alberta delays release of results of oil royalty review until January
EDMONTON - Alberta's highly anticipated review of its energy royalty regime has been delayed until the new year.Premier Rachel Notley had promised that a panel report on the issue and the government's response to that report would be out by the end of December.But Notley said Thursday her government wants to take more time to make sure it gets its response right."The delay is relatively small because we know that people are looking for the outcome sooner rather than later," Notley told a news [Read more]
- « Previous Page
- 1
- …
- 387
- 388
- 389
- 390
- 391
- …
- 543
- Next Page »