CALGARY - Alberta's climate change advisory panel asked — and energy companies, trade associations, unions, think tanks and every-day Albertans answered.The panel received close to 500 submissions following their request for public comment on what the government should consider when drafting its climate change policy. Everyone from climate-change skeptics to diehard greens represented.Suggestions from those in favour of stronger action on climate change included switching all traffic lights to [Read more]
Notley gives first big Calgary business speech to big, but quiet, crowd
CALGARY - Alberta Premier Rachel Notley delivered her first big speech Friday to a Calgary business community reeling from the slump in crude prices and scores of resulting layoffs.It wasn't clear if she managed to calm any jitters during her address to more than 1,500 people in the white-collar heart of the oilpatch.A smattering of applause greeted one remark about Alberta remaining a relatively low-tax jurisdiction, but the room was otherwise quiet throughout the speech.At the end there was [Read more]
Layoff surprise: Cenovus workers losing jobs barred from building too early
CALGARY - Officials at Calgary-based Cenovus say their workers were never barred from their workplace, nor were their cellphones suspended, before they were told they were being laid off.Cenovus (TSX:CVE) laid off 540 employees last week.Spokesman Brett Harris says no one was locked out or barred from the building, or had their access card or cellphone suspended.An earlier media report quoted unnamed workers saying they were barred from the building and blocked from using company cellphones and [Read more]
Petroleum, natural gas land sales dip in Saskatchewan at time of volatile prices
REGINA - Volatile commodity prices have led to a big drop in the October sale of petroleum and natural gas rights in Saskatchewan.The Saskatchewan government says the October sale brought in $9.8 million, bringing the total land-sale revenues to $45.5 million so far this year.But the numbers are far below what the province raked in last year.The February 2014 sale alone of petroleum and natural gas rights brought in $50.7 million in revenue. The October 2014 sale of petroleum and natural gas [Read more]
North West Upgrading’s Sturgeon refinery costs levelling at $8.5 billion
CALGARY - The costs of building Alberta's first new oil refinery in 30 years have stabilized and it's on track to be up and running by 2017, says the chairman of the company developing the government-backed Sturgeon project.Ian MacGregor, chairman and chief executive of North West Upgrading Inc., says that with close to $5 billion already spent, he expects the total cost of constructing the refinery to come within the company's $8.5 billion estimate.That's in line with what the company has been [Read more]
Fraser Institute: spending, not oil, to blame for Alberta budget woes
CALGARY - A new report from the Fraser Institute claims plunging oil prices are not the main culprit behind Alberta's budget woes.Rather, the right-leaning think-tank says it's a decade of program spending growth that's to blame.It says that between the 2004-2005 and 2014-2015 fiscal years, provincial program spending ballooned by 98.3 per cent.But if spending has simply kept pace with inflation plus population growth, Alberta would be looking at a $4.4-billion surplus, it says.Instead, the [Read more]
B.C. government, Pacific NorthWest LNG reject reports of Petronas project delay
VICTORIA - British Columbia's natural gas development minister says the federal election and environmental approval are the only wild cards holding up a proposed $36-billion liquefied natural gas plant in the province.Rich Coleman says a false media report from Malaysia claims that slumping oil and gas prices have the country's state-owned energy giant Petronas considering delaying its LNG project near Prince Rupert for up to nine years.He says meetings in Vancouver last week between the [Read more]
Group: NEB shouldn’t weigh Energy East evidence until application complete
CALGARY - The regulator weighing the Energy East pipeline proposal is being criticized for seeking oral evidence from aboriginal groups when an application for the controversial project is not yet complete.Adam Scott with Environmental Defence takes the National Energy Board to task in a letter, saying there's widespread confusion about the process among those wanting to have their say.Scott says there are serious questions about how concerned parties can participate in the process before all [Read more]
Enbridge eyes opportunities to grow presence in U.S. Gulf Coast market
CALGARY - Enbridge Inc. has its eye on a bigger presence along the U.S. Gulf Coast, a gigantic energy market that the company sees as being resilient to commodity price swings.The Calgary-based pipeline giant (TSX:ENB) is looking at a "strategic shift in thinking" in the region, said Guy Jarvis, who heads Enbridge's liquids pipeline division.Jarvis sketched out a business plan for the Gulf at an investor presentation webcast from Toronto on Wednesday."The region has always been a massive energy [Read more]
Canadian Oil Sands responds to hostile Suncor bid with poison pill defence
CALGARY - Canadian Oil Sands Ltd. is looking to buy time as it faces a hostile takeover offer from oilsands giant Suncor Energy Inc., announcing Wednesday that it's adopting what's known as a poison pill defence.The new shareholder rights plan could be triggered if anyone buys 20 per cent or more of COS (TSX:COS) outstanding shares. At that point, other shareholders in the target company can buy stock at a discount, making the acquisition less attractive to a hostile bidder.Bids permitted under [Read more]
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