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]
Federal government defends Northern Gateway approval at court hearing
VANCOUVER - Canada spent almost $4 million to help First Nations participate in a "thorough" and "fair" environmental assessment of the Northern Gateway pipeline project, court heard Tuesday.A lawyer for the government has asked the Federal Court of Appeal to dismiss 18 legal challenges aimed at overturning its decision to approve the $7-billion proposal from Enbridge (TSX:ENB).Lawyer Dayna Anderson said federal officials began meeting with First Nations in 2006 and revised the environmental [Read more]
Edmonton police department tries to clarify link between rising crime, oil price
EDMONTON - Edmonton's police force tried to clarify Monday comments its chief made last week that out-of-work oilpatch workers could be to blame for the city's recent rise in crime.On the weekend, the Edmonton Police Service released tables and charts that it said shows monthly crime statistics in Edmonton climbing over the past 12 months as oil prices dropped to record lows.On Monday, deputy chief Brian Simpson spoke to reporters on the steps of police headquarters.“It’s not linked to oil [Read more]
Oil and gas industry can cut methane emissions 45% with current tech: report
CALGARY - A new report commissioned by an environmental group says Canada's oil and gas industry could reduce methane emissions by 45 per cent using existing technology.The study, carried out by energy industry research firm ICF International, found that the industry could eliminate the equivalent of 27 million tonnes of carbon dioxide emissions at a cost of $2.76 per tonne.The Environmental Defense Fund says that means that for a theoretical investment of $726 million, the industry could [Read more]
Making light of oil plight: cheeky references to downturn abound in Calgary
CALGARY - Calgarians' moods may have been dragged down with the price of oil, but that doesn't mean they can't get into shape, find love or — at the very least — enjoy a glass or three of wine.Some businesses in the white-collar heart of the oilpatch have been tapping into the economic malaise with cheeky references to oil price downturn in their marketing.The Lagree fitness studio that recently opened in a posh southwest Calgary neighbourhood recently promoted a "Damn the Barrel" sale, offering [Read more]
Police say data supports chief’s suggestion crime spike is linked to oil plunge
EDMONTON - Edmonton's police force is defending its chief with data in support of suggestions he made that out-of-work oilpatch workers could be to blame for the city's recent rise in crime.The Edmonton Police Service released tables and charts on Sunday that it claims show monthly crime statistics in Edmonton climbing over the past 12 months as oil prices drop to record lows.A news release that accompanied the information says the data was provided in response to a request from Melissa Blake, [Read more]
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