CALGARY - TransCanada says it's pleased with the U.S. State Department's latest report into its controversial Keystone XL oil pipeline proposal, but acknowledges there's some ways to go before it can go ahead with construction. CEO Russ Girling says the report supports many of TransCanada's arguments in favour of the 830,000-barrel-per-day line when it comes to jobs, environmental protection and the line's impact on the pace of oilsands development. But he says the process is far from over [Read more]
What is being said about the Keystone report
WASHINGTON - A look at reaction to the U.S. State Department's environmental impact report on TransCanada Corp.'s (TSX:TRP) proposed Keystone XL pipeline: "This has been a lengthy and thorough review process. The benefits to the United States and to Canada are clear. We await a timely decision on this project." — Natural Resources Minister Joe Oliver. ——— "There is a simple question that needs to be answered: Is this pipeline in America's national interest. From our perspective, from an [Read more]
Alberta oilsands odour hearings wrap up
PEACE RIVER, Alta. - Hearings in northwestern Alberta about odours blamed on oilsands processing have wrapped up.People in two communities near Peace River say Baytex Energy's operations are creating powerful gassy smells that are impossible to live with.Alberta's energy regulator called an inquiry after getting numerous complaints.The regulator says it will now review what it heard and make recommendations in a report by March 31.Baytex spokesman Andrew Loosely says the hearings were a [Read more]
Highlights of Keystone environmental review
WASHINGTON - A quick look at some of the highlights from the U.S. State Department's report on TransCanada Corp.'s proposed Keystone XL pipeline: — Drivers of oilsands development are global and any single infrastructure project is unlikely to significantly affect the rate of extraction in oilsands areas. — Cross-border pipeline constraints have a limited impact on crude flows and prices. — East-west pipelines to Canada's coasts would be used to export oilsands crude to growing Asian [Read more]
Wall says Keystone report cause for optimism
REGINA - Saskatchewan Premier Brad Wall says a long-awaited report by the U.S. State Department on the Keystone XL pipeline is cause for some optimism.However, Wall also cautions that at the end of the day, the final decision on the project rests with U.S. President Barack Obama.The premier has said the Keystone XL pipeline, which would carry oilsands bitumen to Gulf Coast refineries, is an important project for Canada.The pipeline would cross into Montana from Saskatchewan.Wall says the report [Read more]
U.S. State Dep’t report stands by oilsands, Keystone XL
WASHINGTON - The often-delayed, hotly debated Keystone XL pipeline has taken one step closer to completion. A long-awaited report by the U.S. State Department says the development of the Alberta oilsands is driven by many more factors than a single pipeline and rejects the argument by environmental groups that stopping the pipeline would thwart the oilsands. The report points out that it has reached the same conclusion as previous State Department studies into the oft-stalled project: The [Read more]
Nova Scotia government says treated fracking waste can be cleaned for disposal
HALIFAX - The Nova Scotia government says a waste management company has found a way to safely clean up millions of litres of treated water left over from fracked wells. Environment Minister Randy Delorey released a statement Friday saying the process developed by Atlantic Industrial Services in Debert can clean the waste to the point that it poses a "minimal risk" to the health of Nova Scotians and the environment. Delorey says independent laboratory results show the filtered water meets [Read more]
New Brunswick premier vows to press ahead with shale gas despite protests
FREDERICTON - New Brunswick Premier David Alward used his final state of the province address before the next election to urge the public to support the development of a shale gas industry. Alward said his Progressive Conservative government will push ahead to help create a shale gas sector, adding that the cost of not moving forward is too great. "To not take advantage of this opportunity would be one of the most irresponsible things a government could do," Alward told a business audience [Read more]
Feds ask National Energy Board, Competition Bureau, to study propane price jumps
OTTAWA - The federal government is calling for an investigation of a propane supply crisis that has seen prices for the fuel more than double since the fall. Natural Resources Minister Joe Oliver says he will ask the National Energy Board and Competition Bureau to review the price increases and propane shortages that have affected rural areas mainly in eastern Ontario and western Quebec. Earlier this week, Ontario Energy Minister Bob Chiarelli pleaded with Oliver to hold a teleconference [Read more]
Canadian dollar will fall to 87 cents this year, says BMO Economics
TORONTO - Watch for the Canadian dollar to lose more of its shine this year, cautioned a report Thursday by the Bank of Montreal. BMO Senior economist Benjamin Reitzes says a variety of factors, from an increasingly dovish tone from the Bank of Canada and further tapering action from the U.S. Federal Reserve, will continue to drag down the loonie. "Look for the loonie to weaken to C$1.15 (87 U.S. cents) around mid-year or perhaps sooner, given the speed of the recent depreciation," he [Read more]
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