EDMONTON - Critics of a proposed pipeline project from the Fort McMurray region to Edmonton want to know why the province's energy regulator seems determined to rush the project's public review."The process is being rushed for the benefit of TransCanada to the detriment of landowners," said lawyer Keith Wilson, who represents businesses and farmers along the route. Hearings opened Monday on the Grand Rapids plan for two new lines half-owned by TransCanada (TSX:TRP) that would have a combined [Read more]
Iraq turmoil threatens oil industry vital to war-battered economy
BAGHDAD - The turmoil in Iraq has thrown the OPEC member's ambitious plans to boost oil production into doubt, threatening to crimp its most vital economic lifeline. Northern oil fields imperiled by the militants' advance have been shut down, and companies have begun evacuating workers elsewhere in the country. Iraq's Kurdish minority has moved to solidify control over the northern oil-rich city of Kirkuk and other disputed areas, weakening Baghdad's claims to the energy riches buried beneath [Read more]
Anti-Shale gas group launches legal action against New Brunswick government
SAINT JOHN, N.B. - A New Brunswick group has launched legal action against the provincial government in an effort to halt shale gas exploration in the province.The New Brunswick Anti-Shale Gas Alliance filed the 18-page statement of claim today with the Court of Queen's Bench in Saint John.The alliance — which includes 22 community organizations — is calling for a moratorium on the development of unconventional shale gas and oil in New Brunswick until scientific studies show it can be done [Read more]
Ottawa panics after Baird demands quick action on Keystone in Washington speech
WASHINGTON - A recent Washington speech in which Foreign Affairs Minister John Baird demanded quick action on the Keystone XL pipeline appears to have prompted considerable anxiety back home in Ottawa. A panicked search for clarity about what the minister had actually said wound up prompting an email chain that involved no fewer than 17 civil servants. The cause of concern was a single line in Baird's speech in which he suggested that even a quick rejection of the project would be better [Read more]
Oil rises on Iraq conflict, upbeat China data
HONG KONG (AP) — The price of oil rose Monday, with global crude hovering near a nine-month high, after Islamic militants captured more territory in Iraq and a report on Chinese manufacturing indicated that the No. 2 economy is on the mend. In a blitz through Iraq’s western desert over the weekend, the insurgents captured four towns and three border crossings on the country’s frontiers with Jordan and Syria, greatly expanding territory under their control in the country’s north. “Any [Read more]
Fontaine: First Nations attitudes shifting on resource development
CALGARY - The former national chief of the Assembly of First Nations says attitudes are shifting amongst aboriginal people when it comes to resource development. Phil Fontaine says that 20-years ago the idea of an aboriginal community going into business with the mining or oil and gas industry would have been unheard of. But now, he told an energy and the environment conference in Calgary, resource companies and First Nations frequently discuss equity stakes or joint venture deals and many [Read more]
First Nation to erect symbolic blockade to protest Northern Gateway approval
HARTLEY BAY, B.C. - The women of the Gitga'at Nation of British Columbia will erect a symbolic blockade made of yarn across the Douglas Channel today to protest the federal government's approval of the Northern Gateway pipeline. The crochet chain will stretch 2.5 nautical miles across the opening of the narrow channel tankers will have to navigate to a marine export terminal to be built in Kitimat, on the north coast. Seventy-year-old Lynne Hill says the protest began in the community and [Read more]
Oil prices push higher as Iraq violence weighs on supply fears
The price of oil climbed on Thursday as the violence gripping energy producer Iraq continued to weigh on supply fears, with global crude pushing higher after hitting a nine-month high. Army troops and Islamic militants battled for control of Iraq's largest oil refinery, which by late Wednesday remained in government hands. All of the facility's output is used domestically so crude production and exports aren't affected but the violence underscores how the fighting may threaten the energy [Read more]
PrairieSky confirms first dividend since IPO will be paid in July
CALGARY - PrairieSky Royalty Ltd. (TSX:PSK) has confirmed that its first dividend will be paid next month to shareholders of record as of June 30. The company, which has traded publicly since May after it was spun off by Encana Corp., said it will pay a monthly dividend of 10.58 per share on July 15. PrairieSky had said in its initial public offering documents that it intended to pay monthly dividends, initially at an annualized rate of $1.27 per common share. Read the full release here... [Read more]
Former Canadian ambassador not confident Keystone project will get approval in U.S.
MONTREAL - A former Canadian ambassador says he's less confident than he was two years ago about a positive reaction in the U.S. to the Keystone XL pipeline project. Raymond Chretien says he's beginning to see signs that lead him to believe that the Americans may reject the project The former ambassador says President Barack Obama wants to go down in U.S. history books as an environmentally friendly president. Chretien points to a recent announcement by the Obama administration to back [Read more]
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