CALGARY - Canadian energy companies looking south for new opportunities should cast their eyes beyond the U.S., according Mexican politicians and businessmen attending an event at Calgary's Petroleum Club on Monday.The delegation, speaking at a forum hosted by the Economic Club of Canada, said Mexico's energy sector is open for business now that the country has lifted the state monopoly that existed for more than 75 years."You are facing a country that has dared to change," David Penchyna, [Read more]
Edmonton police face spike in crime calls due to energy industry woes
EDMONTON - Edmonton police are linking the downturn in the oilpatch to a spike in crime.Chief Rod Knecht said officers have responded to 9,000 more calls for service this year, compared to the same time in 2014.Violent crime is up 12 per cent, property crime 18 per cent and the number of 911 emergency calls is up by almost 14 per cent. Knecht said the calls for service are not all serious crimes, but added this "significant" jump means that sometimes his officers take longer to respond. "When [Read more]
Notley stresses importance of environment in speech to Montreal business group
MONTREAL - A federal cap-and-trade system to reduce greenhouse gas emissions may not be suitable for Alberta, the province's NDP premier said Monday, one day after her federal counterpart proposed such a plan on the campaign trail.Rachel Notley, on the first leg of a business trip to Montreal, New York City and Toronto, told executives and politicians that a national cap-and-trade system "may not be our best road forward."She added that Alberta — whose economy is heavily dependent on the [Read more]
Discouraging signals for Canadian Beaufort exploration as Shell abandons Alaska
CALGARY - Royal Dutch Shell's decision to scrap plans to explore for oil off Alaska's coast is sending a discouraging signal to those who want to see Canada's Arctic offshore resources developed.Shell drilled a well in the Chukchi Sea this summer that indicated the presence of oil and gas, but said Monday the results weren't good enough to warrant further exploration for the "foreseeable future.""Shell continues to see important exploration potential in the basin and the area is likely to [Read more]
Encana says blowout at northern Alberta natural gas well has been capped
FOX CREEK, Alta. - A blowout at a well in northern Alberta that has been venting natural gas and small amounts of a toxic chemical has been capped.Encana (TSX:ECA) says in an update on its website that the damaged wellhead 18 kilometres from Fox Creek has been brought under control and that the flow of natural gas and condensate has been stopped.The blowout happened Sept. 21 at the well, which is licensed to produce hydrogen sulphide, a poisonous gas that smells like rotten eggs.Company [Read more]
Unreleased government-funded report suggests $50 carbon price in Alberta
EDMONTON - Jacking up Alberta's carbon tax is the best way to reduce the province's greenhouse gas emissions from power generation, says a government-funded analysis obtained by The Canadian Press.Charging large emitters up to $50 a tonne for carbon emissions — an almost 70 per cent increase — would produce the best result, says the report by an international economic consultancy.But that price would also raise electricity costs more than any other option considered, the Brattle Group [Read more]
Kinder Morgan files new report to NEB touting benefits of proposed pipeline
CALGARY - Kinder Morgan has filed new reports to the National Energy Board touting the economic benefits of its proposed Trans Mountain pipeline expansion, replacing evidence that the regulator ordered removed from the record last month.The filings include an 89-page market analysis by Dallas consulting firm Muse Stancil and an updated Conference Board of Canada tally of the project's broader economic spinoffs.Muse Stancil estimates $73.5 billion (in 2012 dollars) will be added to producers' [Read more]
NEB delaying review of Kinder Morgan’s pipeline expansion project
CALGARY - The National Energy Board says it needs more information before proceeding with a review of Kinder Morgan Canada's Trans Mountain pipeline expansion.The board says in a news release that it is going to implement an "excluded period" for the review, beginning last week and lasting until Jan. 8, 2016.Its recommendations were to have been handed down on Jan. 26 but the delay means a new deadline of May 20 next year.The board did not specify what additional information it was seeking.The [Read more]
Alberta Premier Notley wants to see at least one ‘drama-free’ pipeline project
CALGARY - Alberta's premier says she wants at least one new "drama-free" pipeline built that will carry the province's oil to new markets.Rachel Notley told delegates to an Alberta Urban Municipalities Association convention on Thursday that she plans to achieve that through ongoing discussions with British Columbia, Ontario and Quebec.It is essential for Alberta, with its reliance on resource revenue, to get access to overseas customers, she said.Canada's premiers signed a Canadian Energy [Read more]
TransCanada warns layoffs coming as oil downturn squeezes customers
CALGARY - Employees at TransCanada were informed this week that more job cuts are coming as part of a major overhaul that includes shedding a fifth of senior leadership positions from the pipeline and power company."Falling oil prices and the current environment are having a profound impact on our customers and we must do all we can to drive down costs and pursue our projects more efficiently and strategically," spokesman James Millar said in an emailed statement."We are now introducing [Read more]
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