The price of oil rose above $95 a barrel on Wednesday amid expectations for solid demand and weaker supply, particularly in Asia and Europe. By early afternoon in Europe, benchmark U.S. crude for March delivery was up 53 cents at $95.50 a barrel in electronic trading on the New York Mercantile Exchange. On Tuesday, the Nymex March contract closed at $94.97 a barrel, up 38 cents. The IMF said Tuesday it expects the world economy to grow 3.7 per cent this year and the U.S. economy by 2.8 per [Read more]
Hearing begins on Peace River oilsands operation
PEACE RIVER, Alta. - Hearings have begun in northwestern Alberta about odours blamed on oilsands operations that have driven families off their land.Residents of two tiny communities near Peace River are concerned over the way Baytex Energy has operated its oilsands extraction process in the area. They say it is creating powerful gassy smells that are impossible to live with.One family has relocated to Smithers, B.C.In an affidavit filed with the Alberta Energy Regulator, one resident complained [Read more]
Redford to discuss oilsands and climate change with Al Gore in Switzerland
EDMONTON - Alberta Premier Alison Redford is going to get a chance to talk climate change with high-profile oilsands critic and former U.S. vice-president Al Gore. The two will be on a panel Friday at the World Economic Forum in Davos, Switzerland, that is to discuss regulatory issues in relation to climate change. Redford says she will use the opportunity to remind Gore of Alberta's record reducing emissions that cause global warming. She says it's important to debunk myths that Gore [Read more]
Hearing to start on Alberta oilsands odours
PEACE RIVER, Alta. - Hearings are scheduled to begin this week on odours blamed on oilsands operations that have driven northern Alberta families off their land and at least one of the affected farmers hopes it will all wind up with tougher rules against bad smells."The best result possible is that they make some regulations to get companies to capture their vapours," said Alain Labrecque, who's had to leave the farm his father pioneered over pungent smells that he says are destroying the health [Read more]
Neil Young’s anti-oilsands tour hits Alberta
CALGARY - Rock legend Neil Young's Honour the Treaties concert tour wraps up tonight in the province with the most at stake in the debate over the economic and environmental effects of oilsands development. The show, which supports the Athabasca Chipewyan First Nation located downstream from the oilsands, takes place in Calgary. It follows stops earlier this week in Toronto, Winnipeg and Regina where Young dropped statements about the oilsands that many denounced as over-the top. Young [Read more]
Oil price holds near US$94; up 2% on the week
The price of oil rose slightly Friday, finishing the week two per cent higher on signs of rising demand in the U.S., the world's biggest oil consumer.Benchmark West Texas Intermediate crude for February delivery rose 41 cents to close at US$94.37 on the New York Mercantile Exchange. Oil is up two per cent since closing last Friday at US$92.72.The March contract for Brent crude, the benchmark for many international varieties, was up 73 cents at US$106.48 in London.U.S. oil began the year near [Read more]
Neil Young says he doesn’t want Canada ‘trashed for oil’
REGINA - Neil Young says he's very proud to be Canadian and doesn't want to see the country — in his words — "trashed and plundered" for oil money.The musician made the comments ahead of a concert in Regina tonight to raise money for an Alberta First Nation that lives downstream from the oilsands.The band has filed a lawsuit to try to protect its traditional territory from further industrialization.Young says he was taught as a boy to clean up his mess and keep his word, but those rules have [Read more]
U.S. won’t be pushed on Keystone: Kerry
WASHINGTON - The U.S. government won't be rushed in making a decision on the long-delayed Keystone pipeline, Secretary of State John Kerry said Friday.At a news conference following meetings with Foreign Affairs Minister John Baird and Mexican Foreign Secretary Jose Antonio Meade, Kerry said there's a process that must be followed in the pipeline decision."We are currently engaged in the environmental impact statement analysis," Kerry said. "An analysis will be made with respect to the national [Read more]
B.C. will not mandate electric-run LNG plants
VICTORIA - B.C. Energy Minister Bill Bennett says the government won't force oil and gas companies that plan to develop liquefied natural gas plants in the province to use electricity in their operations.Bennett says the companies will have the choice to run the LNG plants that cool the gas to a liquid state with natural gas or electricity despite pollution and efficiency concerns about natural gas by environmental groups.The minister says a report by Clean Energy Canada calling on the [Read more]
John Baird gets attention, but no love with D.C. Keystone pitch
WASHINGTON - Canadian pleas for a swift decision on the Keystone XL pipeline project have certainly been heard this week in Washington. There's little evidence so far, however, that they'll sway D.C. decision-making. There were questions at both the White House and State Department daily briefings Thursday about Foreign Affairs Minister John Baird — a rare distinction for any Canadian politician visiting a capital whose list of priorities is inversely proportional to its attention [Read more]
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