VICTORIA - New legislation introduced in British Columbia requires liquefied natural gas plants to meet emission standards or face penalties and makes the industry the cleanest in the world, says Environment Minister Mary Polak.Polak tabled the Greenhouse Gas Industrial Reporting and Control Act on Monday, saying it will set the province's emission benchmark at 0.16 tonnes of carbon dioxide for each tonne of LNG produced, which is lower than any other LNG facility in the world.She said it will [Read more]
B.C. government set to announce tax rate for proposed LNG industry
VICTORIA - British Columbia's government has introduced a new income tax for its liquefied natural gas industry that starts at 1.5 per cent and increases to five per cent, two per cent lower than the government had originally proposed.Finance Minister Mike de Jong says the new tax structure is competitive and provides the certainty companies need to make final investment decisions in developing LNG plants in B.C.He says the tax includes a reduced rate from what was announced last February in [Read more]
N.B.’s new premier to oilpatch: support for Energy East has not wavered
CALGARY - New Brunswick's new premier said Monday he's looking to assure Alberta's oilpatch that even though the government has changed, its support for the Energy East pipeline has not.Brian Gallant is visiting Calgary this week in his first official visit since being elected premier about a month ago.The $12-billion Energy East project topped the agenda in Gallant's meeting with his Alberta counterpart, Jim Prentice on Monday. On Tuesday, he's to meet with top executives at TransCanada [Read more]
B.C.’s LNG green law expected, followed by tax legislation
VICTORIA - New legislation introduced in British Columbia requires liquefied-natural-gas plants to meet emission standards or face penalties and makes the industry the cleanest in the world, says Environment Minister Mary Polak.Polak tabled the Greenhouse Gas Industrial Reporting and Control Act Monday, saying it will set the province's emission benchmark at 0.16 tonnes of carbon dioxide for each tonne of LNG produced, which is lower than any other LNG facility in the world.She said it will test [Read more]
As oilpatch reporting season begins, crude price drop top of mind
CALGARY - The recent rout in oil prices will likely be top of mind for investors as Canada's top oilpatch players release their third-quarter results over the next few weeks.The steep drop in the key U.S. benchmark crude — to about US$80 a barrel from around US$95 just a month ago — won't be evident in companies' financial reports for the quarter ended Sept. 30.But analysts and investors will be paying keen attention to the mood of top brass on quarterly conference calls and looking for signals [Read more]
Canada facing competition in energy markets; time to get going, says Rickford
EDMONTON - Federal Natural Resources Minister Greg Rickford says time is of the essence for Canada to get its oil and gas to markets because other countries are getting into the game.Rickford told a business crowd in Edmonton that Russia is spending a lot on exploration, while England, Poland and Romania are also sitting on a large supply of shale gas, and they're looking to be an energy power as well.The minister said Friday that he's looking at 2017-2018 as a medium-range goal to get Canada's [Read more]
International energy researcher to focus on oilsands at Calgary university
CALGARY - Nanotechnology similar to that used to kill tumours in cancer patients could be adapted to improve in situ oil recovery in Alberta's oilsands, says an international researcher.Steven Bryant, a world-leading nanotechnology expert from the University of Texas in Austin, was introduced Thursday as the latest Canada Excellence Research Chair at the University of Calgary.A federal energy research program awards world-renowned scientists and their teams up to $10 million over seven years to [Read more]
Green groups lose bid to turn off the taps on hydraulic fracturing
VANCOUVER - A judge will not stop the flow of fresh water from British Columbia's lakes and rivers to hydraulic fracking operations, but did recognize the issue as a growing public concern.The Western Canada Wilderness Committee and the Sierra Club filed a petition against the B.C. Oil and Gas Commission and energy company EnCana Corp. (TSX:ECA) over the commission's decision to grant repeat short-term water approvals to the company.The environmental groups wanted the court to declare the [Read more]
New Brunswick premier heading to Alberta to discuss Energy East Pipeline
SAINT ANDREWS, N.B. - New Brunswick Premier Brian Gallant is scheduled to head to Alberta next week to discuss the proposed Energy East Pipeline project with Alberta Premier Jim Prentice.Gallant will spend four days in Alberta, where he will also meet senior TransCanada (TSX:TRP) officials in Calgary.He says he also wants to meet with Alberta business leaders to show his commitment to the $12-billion development and help secure opportunities for New Brunswick.Former premiers David Alward and [Read more]
Oil exporting nations feeling pinch of low oil prices, oil importing ones feeling some relief
NEW YORK - A sudden plunge in the price of oil is sending economic and political shockwaves around the world. Oil exporting countries are bracing for potentially crippling budget shortfalls and importing nations are benefiting from the lowest prices in four years.The global price of oil is near $84 per barrel, down about $31, or 27 per cent, from its high point for the year. Oil consumption globally is 91 million barrels per day. That means the world's oil producing countries and companies are [Read more]
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