A new version of a government-commissioned report about Alberta's inactive oil wells now recommends that the province manage a new insurance fund, rather than backstop it with taxpayer funding. Critics and environmentalists had raised concerns last month after a draft of the report was leaked to media, saying the report's recommendations would mean Alberta would let oil and gas companies off the hook for reclaiming wells. The Alberta government says it has no plans to use taxpayer funds to [Read more]

OTTAWA - Statistics Canada says the country's merchandise trade balance fell to a deficit of $1.5 billion in February as exports fell. The federal agency says the result compared with a surplus of $3.1 billion in January. Total exports dropped 5.5 per cent to $70.1 billion in February as exports of energy products fell 6.3 per cent. Exports of crude oil fell 4.2 per cent on lower prices, while refined petroleum product exports dropped 15.3 per cent due to lower shipments of diesel, [Read more]

CALGARY - Consumers are paying a new price on their carbon emissions starting today — $0. The levy had previously been set at $80 per tonne, an amount that has increased yearly since the charge was first imposed in 2019. That had most recently equated to 17.6 cents on each litre of gasoline and roughly $4 for each gigajoule of natural gas burned for home heating. One of Prime Minister Mark Carney's first actions when he took office last month was to do away with the consumer carbon [Read more]

OTTAWA - Liberal Leader Mark Carney promised Monday to get the federal government back into the business of home building, while Pierre Poilievre's Conservatives pitched a national energy corridor to fast-track approval of key infrastructure. The New Democrats rolled out their own national project — a promise to help retrofit 3.3 million homes and pay for it by cutting supports for big oil and gas companies. The rival party leaders touted their ambitious plans as ways to make the country [Read more]

OTTAWA - The Canadian economy was off to a solid start in January but early signs suggest growth stalled in February amid harsh winter weather and the looming threat of tariffs. Statistics Canada said Friday that real gross domestic product rose 0.4 per cent in January, but the agency's flash estimates for February suggest flat growth for the month. “We’re really sprinting into a wall," said Andrew DiCapua, principal economist at the Canadian Chamber of Commerce, in an [Read more]

REGINA - Two workers were assessed for minor injuries following a fire at the Co-op Refinery Complex in Regina. Federated Co-operatives Ltd. says the blaze has been contained. It says it does not know the cause of the fire and will provide more information once available. Regina Fire and Protective Services says firefighters have been on the site assisting as needed. Nearby homeowners reported being woken up before dawn with what sounded like an explosion followed by alarm [Read more]

TORONTO - When Canada’s big banks left the Net Zero Banking Alliance earlier this year, they assured they could push on reducing emissions without the help of the international climate coalition launched in 2021 by Mark Carney, now Canada's prime minister. But as hostility towards climate action ramps up in the U.S. — even as temperatures keep breaking new records — sustainability-focused investors are pressing the banks to more clearly show how they’re making progress. One increasingly [Read more]

EDMONTON - Jordon Kosikowie has been thinking a lot about what would happen if Alberta joined the United States. The 35-year-old works in the oil and gas industry in the Edmonton area and says life has been hard in recent years. So he's open to the idea if it brings more prosperity. "If there's an opportunity for me to put more money into my pocket, why not converse about it?" said Kosikowie, who runs a Facebook group for Albertans who want to be a part of a 51st U.S. state. The group has [Read more]

OTTAWA - Prime Minister Mark Carney confirmed Friday that his government would keep the emissions cap on oil and gas production in place if elected — but would fast-track investments in carbon capture to meet those emissions targets. Speaking to reporters in Ottawa Friday after the first ministers meeting, Carney was asked to clarify his stance on the issue after appearing to contradict his environment minister on Thursday. The Canadian Press reported on Thursday a Carney government would keep [Read more]