IQALUIT, Nunavut - The premiers of six western provinces and territories arrive in this eastern Arctic boom town today for a gathering expected to focus on development of natural resources and its impact on northern and remote communities. Their arrival coincides with Nunavut Day, which marks the creation of the territory in 1993. Nunavut Premier Peter Taptuna will greet his counterparts from British Columbia, Alberta, Saskatchewan, Manitoba, the Northwest Territories and Yukon at a hotel [Read more]
Oil falls closer to US$103 a barrel as supply fears continue to recede
The price of oil slipped closer to $103 a barrel Tuesday as concerns about supply disruptions continued to fade.Benchmark West Texas Intermediate crude for August delivery fell 13 cents to close at US$103.40 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.30 to close at US$108.94 on the ICE Futures exchange in London.Oil has been falling steadily since it hit a 10-month closing high of $107.26 on June 20 as a [Read more]
Wildrose promises to clean up tailings ponds, end carbon capture and storage
CALGARY - Alberta's opposition Wildrose party is promising to eliminate toxic tailings ponds and end carbon capture and storage should it win the next election. Party leader Danielle Smith says greenhouse gas emissions and other pollutants will be reduced through developing and creating incentives for alternative energy sources. The party is also promising independent water quality testing down river from major industrial projects. The promises were rolled out in the party's fourth of [Read more]
COSIA ‘very close’ to establishing GHG targets, Suncor boss says
CALGARY - The CEO of Suncor Energy says a technology-sharing alliance of oilsands players is very close to setting greenhouse gas reduction goals for its members.Steve Williams says the Canadian Oil Sands Innovation Alliance, or COSIA is within "days or weeks" away from firming up the standards.He says as a first step, it's likely COSIA members will strive to be at least as efficient as other oil sources.Earlier, Suncor and GE announced up to $18 million in investment for projects that are meant [Read more]
Port Alberni, B.C., site of proposed First Nations, LNG export plant
VICTORIA - A Vancouver-based company and a Port Alberni-area First Nation have signed a agreement to build a liquefied natural gas export facility on Vancouver Island. Steelhead LNG Corp., and the Huu-ay aht (who-AYE'-at) have announced plans to develop an LNG plant on land owned by the First Nation on the southern end of Alberni Inlet near Port Alberni. Steelhead LNG Corp., says in a statement the project could represent an investment of about $30 billion. Steelhead says it is working [Read more]
Libya expects to increase oil exports; crude slips below US$104 a barrel
The price of oil slipped below US$104 a barrel Monday on expectations that Libya will soon boost its exports of crude.Benchmark West Texas Intermediate crude for August delivery fell 53 cents to close at US$103.53 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 40 cents to close at US$110.24 in London.An agreement in Libya between the central government and a regional militia is expected to lead to the reopening of [Read more]
Alimentation Couche-Tard earns US$145.1 million in fourth quarter
LAVAL, Que. - Alimentation Couche-Tard (TSX:ATD.B) earned US$145.1 million or 25 cents per diluted share during its fourth quarter, down from $146.4 million or 26 cents per dilute share a year ago. Revenue totalled $8.95 billion, up from $8.78 billion. Adjusted for one-time items, the Quebec-based convenience store operator earned 22 cents per diluted share, up from 20 cents a year ago, but three cents below analyst expectations. [Read more]
Oil slips below $104 as Libya set to boost exports
The price of oil slipped below $104 a barrel Monday as expectations that Libya will soon boost its exports of crude offset strong U.S. job growth. By early afternoon in Europe, benchmark U.S. crude for August delivery was down 19 cents to $103.87 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, was down 37 cents at $110.63 on the ICE Futures exchange in London. Crude fell despite signs the U.S. economy is steadily [Read more]
A year later, Lac-Megantic mayor urges town to turn page on ‘horror’ of disaster
LAC-MEGANTIC, Que. - More than 1,000 people marched in solemn silence early this morning along the edge of Lac-Megantic's railroad as they remembered last year's deadly train disaster. They began the walk after observing a moment of silence at 1:15 a.m. — the exact moment on this day last year when a runaway train derailed in the centre of the Quebec town and exploded in a series of cataclysmic fireballs killing 47 people. Though a year has passed, the emotional scars in the community [Read more]
Scars remain as Lac-Megantic holds services and vigil a year after disaster hit
LAC-MEGANTIC, Que. - The scars from last year's devastating train derailment still run deep in Lac-Megantic. But this weekend townsfolk will square their shoulders once again to pay homage to 47 of their friends and relatives who perished when a runaway train turned their downtown core into an inferno. Church services, concerts, social events and vigils will mark two days of commemorations, which will be highlighted Sunday by a Roman Catholic mass at the church whose statue of Jesus became [Read more]
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