BOE Report

Oil downturn drags down GDP numbers, but worst of slump likely over: expert

CALGARY - The ugliness isn't over for Alberta's oilpatch but the worst of it has likely passed, observers said Friday as Statistics Canada posted some gloomier-than-expected economic data."I think the mood and apprehension was far worse in January than it is now," said ATB Financial chief economist Todd Hirsch."That said, you wouldn't call the current environment bright."The Statistics Canada figures showed the Canadian economy contracted by 0.6 per cent during the first quarter on an annualized [Read more]

Alberta recession unavoidable: report

CALGARY - A recession is unavoidable in Alberta this year, according to a report by the Conference Board of Canada.The province's economy is expected to shrink by 0.7 per cent in 2015, even though oil prices seem to have stabilized at around US$60 a barrel, the Ottawa-based economic think tank said Thursday.Next year, it's calling for modest growth of 1.1 per cent."Alberta's economic performance will be underwhelming this year and next, especially compared with recent years," said [Read more]

Risk of Trans Mountain pipeline spill could hurt green brand: Vancouver mayor

VANCOUVER - New evidence proves the expansion of Kinder Morgan's Trans Mountain pipeline presents a grave threat to the City of Vancouver's health, economy and environment, said Mayor Gregor Robertson.The city commissioned expert reports on the potential impacts of the $5.4 billion proposal and the findings were presented to council on Wednesday."Today we heard overwhelming evidence that the Kinder Morgan pipeline proposal and the oil tankers associated with it are incredibly disastrous for [Read more]

New Alberta energy minister McCuaig-Boyd in ‘listening and learning mode’

CALGARY - One of Canada's biggest oil and gas producers said Wednesday it can't make future spending decisions until it gets a better handle on the new Alberta government's plans for royalties, taxes and environmental regulation.But NDP Premier Rachel Notley said, if anything, the province's lack of progress thus far on combatting climate change has been the bigger cause of uncertainty for the industry.Energy giant Canadian Natural Resources Ltd. (TSX:CNQ) was to have held an open house for [Read more]

Alberta wildfires force evacuations at Statoil, MEG oilsands sites

CALGARY - Wildfires have prompted more evacuations from oilsands sites south of Fort McMurray, Alta., adding to the list of operators to be affected by out-of-control blazes in northeastern region of the province.MEG Energy (TSX:MEG) has bused about 900 workers out of its operations in the Christina Lake area, with about 80 staying behind for essential functions, spokesman Brad Bellows said Tuesday.The facility was undergoing some scheduled maintenance work so there were more than twice as many [Read more]

Woman protesting drilling leaves Shell ship in Washington harbour after hanging on since Friday

BELLINGHAM, Wash. - The woman who had been hanging off the anchor chain of a support ship that is part of Royal Dutch Shell's plans to explore for oil in the Arctic Ocean ended her dayslong protest north of Seattle on Monday morning.Student activist Chiara D'Angelo requested assistance getting down from her perch on the Arctic Challenger in the Bellingham harbour around 9:30 a.m. Monday, the Coast Guard said.D'Angelo was checked for hypothermia and then released, Petty Officer 3rd Class Katelyn [Read more]

Canada, U.S., Mexico agree to establish working group for climate change, energy

MERIDA, Mexico - Canada, the United States and Mexico have established a ministerial-level working group on climate change and energy issues.Greg Rickford, Canada's minister of natural resources, reached the deal — along with U.S. Energy Secretary Ernest Moniz and Pedro Joaquin-Coldwell, Mexico's energy secretary — during a meeting of North American energy ministers.The working group will focus on a number of issues, including reliable and low-carbon electricity grids, deployment of clean energy [Read more]

Who? Alberta’s new energy minister Marg McCuaig-Boyd an unknown in the oilpatch

CALGARY - News that Marg McCuaig-Boyd would be Alberta's new energy minister was greeted by the oilpatch with a collective, "Who?"The newly elected NDP politician from the province's northwest touts education, administration and business consulting in her bio, but nothing related to oil and gas.The name didn't ring a bell for Martin Pelletier, portfolio manager at Calgary-based investment firm TriVest Wealth Counsel.He said he was happy to see Premier Rachel Notley reach out to energy industry [Read more]

Woman chains herself to Shell oil drilling support ship in bay north of Seattle

BELLINGHAM, Wash. - A woman has chained herself to the Arctic Challenger, a support ship for Royal Dutch Shell's exploratory oil drilling plans, Bellingham police said.KCPQ-TV said the ship is anchored in Bellingham Bay, north of Seattle.A police spokesman said officers talked to the ship, the port and the woman and won't be trying to remove her. The ship won't leave for several days.Earlier, an official with Washington state's Department of Natural Resources said activists protesting Shell's [Read more]

Former Alberta finance minister says give new NDP government time to learn

CALGARY - A former Alberta finance minister is urging people to give the new NDP government time to learn the ropes.Jim Dinning, who was a Calgary MLA in the 90s, says incoming Premier Rachel Notley and her 52 MLAs will make smarter decisions if they get time.He also is urging Notley to look at the big picture when it comes to the environment, energy and the economy.Dinning says it's up to the new government to have difficult conversations on these topics, and says leaders create followers.He [Read more]