The Obama administration has rejected TransCanada's application to build the Keystone XL pipeline that would connect Canada's oilsands to Gulf Coast refineries. Here are some key dates in the history of the pipeline proposal:July 2008: TransCanada Corp. (TSX:TRP) and ConocoPhillips, joint owners of the Keystone Pipeline, propose a major extension to the network, dubbed Keystone XL. The new addition is proposed to transport hundreds of thousands of barrels of oilsands bitumen from Alberta to [Read more]
TransCanada CEO Russ Girling responds to U.S. rejection of Keystone pipeline
CALGARY - TransCanada Corp. CEO Russ Girling issued a statement Friday after U.S. President Barack Obama rejected the company's proposed Keystone XL pipeline, which would have shipped oil from Alberta to Texas. Here is the text of the statement: We are disappointed with the President's decision to deny the Keystone XL application.Today, misplaced symbolism was chosen over merit and science - rhetoric won out over reason.The U.S. consumes over seven million barrels per day more oil than it [Read more]
Suncor’s attempt to dismantle Canadian Oil Sands takeover defence heads to ASC
CALGARY - The battle between Suncor Energy Inc. (TSX:SU) and Canadian Oil Sands (TSX:COS) heads to the Alberta Securities Commission on Nov. 26.Suncor has asked the provincial regulator to dismantle one of the anti-takeover measures adopted by COS directors so that COS shareholders can decide for themselves whether to accept a deal announced on Oct. 5.COS says its board is actually attempting to defend its shareholders from a bidder with an unfair advantage because it has access to private [Read more]
Pembina to spend $125M to build new Duvernay gas plant
CALGARY - Pembina Pipeline Corp, (TSX:PPL) says it plans to build a new 100 million cubic feet per day shallow cut gas plant near its Fox Creek Terminal, about 270 kilometres northwest of Edmonton.Pembina said Thursday that the estimated the capital cost of the Duvernay I project, including supporting infrastructure, is $125 million.It is expected to be in operation in the second half of 2017, subject to regulatory and environment approvals."In spite of uncertainty in commodity markets, [Read more]
Notley tells Edmonton audience that entrepreneurism key to Alberta’s revival
EDMONTON - Premier Rachel Notley says entrepreneurism is the key to Alberta's economic revival and one never knows where another Silicon Valley will spring up.Notley told about 2,000 people at what was billed as a state-of-the-province address that innovation can come from unexpected places.She noted that tech giants such as Apple and Google got their start in garages, and that oilsands technology unlocked billions of dollars in wealth for Alberta."It's a powerful example of what can happen when [Read more]
TransCanada nixes export terminal in Quebec for Energy East Pipeline
Quebec will no longer host an oil export terminal for TransCanada's controversial Energy East Pipeline, the Calgary-based company announced Thursday.Six months after abandoning a proposal to build a terminal northeast of Quebec City, TransCanada said it would amend its proposal to the National Energy Board to include a new route for the pipeline.The company made the decision after "conducting thorough studies and consulting with many local communities," Energy East president John Soini said in [Read more]
Enbridge: delay in getting Line 9 into service will put 2015 earnings at low end
CALGARY - Enbridge Inc. is investing $750 million in a U.K. offshore wind project as it sees green power playing a bigger role in the global energy mix.The Calgary-based company (TSX:ENB), best known for its vast North American network of oil pipelines, says it sees opportunity to grow its renewables business in Europe.It's partnering with a company called E.ON in the 400-megawatt Rampion Offshore Wind Project.Enbridge will have just under a quarter interest in the development 13 kilometres off [Read more]
Alberta to release part of its climate-change plan a week before Paris meeting
EDMONTON - Alberta Premier Rachel Notley says her government hopes to release substantial parts of its climate-change policy about one week before she leaves later this month for a global conference in Paris.Notley said the province's plan will include very significant changes that will put Alberta on what she calls a progressive and balanced path forward."We are going to do what we think we can do to improve our record in a way that not only supports Albertans but supports Albertans for [Read more]
Alberta premier spars with opponents over layoffs; says no “magic wand” to fix it
EDMONTON - Alberta Premier Rachel Notley is accusing the opposition of being naive and ratcheting up the fear meter over job losses in the lagging economy."It would be lovely to wave a magic wand and create 40,000 jobs out of nowhere," Notley told the house Tuesday, tracing imaginary circles in the air with her finger."God knows that group of folks never did it," she added, referring to the Progressive Conservatives, who promised for years while in government to wean the economy off its [Read more]
Keystone XL pipeline postponement bid ups pressure on Energy East proposal
OTTAWA - Keystone XL is dead! Long live Energy East!Like a game of pipeline whack-a-mole, a bid by TransCanada Corp., to suspend its controversial, north-south Keystone XL pipeline proposal has elevated the west-east Energy East pipeline plan to the top of Canada's political agenda."With Keystone now delayed, even more important we approve Energy East," Saskatchewan Premier Brad Wall posted on his Twitter account Tuesday while the U.S. State Department was still chewing over TransCanada's [Read more]
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