NEW YORK - The price of oil slipped Wednesday despite a report from the U.S. Department of Energy that showed American stockpiles of crude fell more than expected last week.Benchmark West Texas Intermediate crude for August delivery fell 86 cents to US$104.48 a barrel on the New York Mercantile Exchange, its fifth day of decline. The contract closed at a 10-month high of US$107.26 on June 20.Brent crude, a benchmark for international oils, fell $1.05 to US$111.24 a barrel in London.The Energy [Read more]
Majority favour ban or moratorium on fracking in Nova Scotia: discussion paper
HALIFAX - The majority of people who offered opinions for a report on hydraulic fracturing in Nova Scotia say they want the province to ban or maintain a moratorium on the disputed industry.There were 238 individual submissions to an 'expert panel' that's looking at the environmental impact of hydraulic fracturing, or fracking, in Nova Scotia.Of those, 92 per cent said they supported a moratorium or ban, while 0.5 per cent were against such prohibitions.The discussion paper will form the basis [Read more]
Oil rises on US, China factory strength
The price of oil edged up Wednesday on stronger manufacturing activity in the United States and China, the two biggest oil consumers. Benchmark U.S. crude for August delivery was up 8 cents to $105.42 per barrel at 0800 GMT in electronic trading on the New York Mercantile Exchange, breaking four days of declines. The contract closed at a 10-month high of $107.26 on June 20. Brent crude, a benchmark for international oils, fell 13 cents to $112.16 per barrel in London. Manufacturing [Read more]
Devon Energy selling some US oil and gas properties to Linn Energy for $2.3 billion
OKLAHOMA CITY - Oil and gas exploration company Devon Energy Corp. is selling some U.S. oil and gas properties to Linn Energy LLC for $2.3 billion. The properties include those in the Rockies, onshore Gulf Coast and Mid-Continent region, Devon said on Monday. The sale is part of a transformation plan the company announced late last year in which it was looking to sell non-core assets. The properties being sold to Linn Energy produced 275 million cubic feet of natural gas equivalent per day, [Read more]
Oil falls ahead of data gauging China’s factory activity
The price of oil declined Monday as markets waited for the preliminary reading of China's manufacturing for June. Benchmark U.S. crude for August delivery was down 56 cents to US$105.18 a barrel in electronic trading on the New York Mercantile Exchange. The contract closed down 10 cents at $105.74 on Friday. Brent crude, used to price international oils, slipped 62 cents to $112.68 a barrel in London. Oil prices were steady going into the weekend as markets grew accustomed to news [Read more]
Nova Scotia, Ottawa finalize agreement on greenhouse gas emissions
HALIFAX - The federal government has finalized an agreement with Nova Scotia on greenhouse gas emissions from coal-fired power plants. Environment Canada and the provincial Environment Department began working on an equivalency agreement in 2012 and it was signed a month ago by the province, but notice was published Friday in the Canada Gazette that it had been finalized. The deal is intended to do away with duplicate regulations on greenhouse gases by exempting the province from federal [Read more]
Crude oil prices edge lower in New York; Brent slightly higher in London
The price of oil held steady Friday on a quiet day for energy markets.Benchmark West Texas Intermediate crude for August delivery edged 10 cents lower to close at US$105.74 a barrel on the New York Mercantile Exchange.Brent crude, a benchmark used to price international oils used my many U.S. refineries, rose nine cents to close at US$113.30 a barrel in London.The prices of both U.S. and international oils have slipped somewhat in recent days since reaching 10-month highs late last week, a sign [Read more]
Impact of fracking on communities unclear: Nova Scotia study
HALIFAX - A new study on the potential for hydraulic fracturing in Nova Scotia says there isn't enough research available to draw firm conclusions about the impact on communities. The study says the use of high-volume fracking to extract oil and natural gas from shale deposits emerged as a profitable business only a decade ago, which means peer-reviewed studies are hard to come by. The discussion paper, written by social ecologist Shawn Dalton, will form the basis of a chapter in a report [Read more]
Crude oil falls as worries over effect of Iraqi insurgency on supplies eases
The price of oil fell Thursday as fears diminished somewhat over supply disruptions from Iraq.Benchmark West Texas Intermedate crude for August delivery slipped 66 cents to US$105.85 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, eased 79 cents to US$113.21 a barrel in London.While concerns linger about violence in Iraq affecting global crude supplies, oil production and exports from the giant fields clustered in the country's south remain [Read more]
Trudeau slams Tory handling of temporary foreign worker file, calls it most ‘anti-Alberta’ program in years
OTTAWA - Justin Trudeau is describing the government's embattled temporary foreign worker program as among the most anti-Alberta federal policies in years. The Liberal leader made the remarks this week in Fort McMurray while campaigning in advance of Monday's byelection in the heart of oilsands country with candidate Kyle Harrietha. The comment invites comparisons to Pierre Trudeau's national energy program, a policy still reviled by Albertans 34 years after it sought to distribute the [Read more]
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