The price of oil declined Monday as markets waited for the preliminary reading of China's manufacturing for June. Benchmark U.S. crude for August delivery was down 56 cents to US$105.18 a barrel in electronic trading on the New York Mercantile Exchange. The contract closed down 10 cents at $105.74 on Friday. Brent crude, used to price international oils, slipped 62 cents to $112.68 a barrel in London. Oil prices were steady going into the weekend as markets grew accustomed to news [Read more]

HALIFAX - The federal government has finalized an agreement with Nova Scotia on greenhouse gas emissions from coal-fired power plants. Environment Canada and the provincial Environment Department began working on an equivalency agreement in 2012 and it was signed a month ago by the province, but notice was published Friday in the Canada Gazette that it had been finalized. The deal is intended to do away with duplicate regulations on greenhouse gases by exempting the province from federal [Read more]

The price of oil held steady Friday on a quiet day for energy markets.Benchmark West Texas Intermediate crude for August delivery edged 10 cents lower to close at US$105.74 a barrel on the New York Mercantile Exchange.Brent crude, a benchmark used to price international oils used my many U.S. refineries, rose nine cents to close at US$113.30 a barrel in London.The prices of both U.S. and international oils have slipped somewhat in recent days since reaching 10-month highs late last week, a sign [Read more]

HALIFAX - A new study on the potential for hydraulic fracturing in Nova Scotia says there isn't enough research available to draw firm conclusions about the impact on communities. The study says the use of high-volume fracking to extract oil and natural gas from shale deposits emerged as a profitable business only a decade ago, which means peer-reviewed studies are hard to come by. The discussion paper, written by social ecologist Shawn Dalton, will form the basis of a chapter in a report [Read more]

The price of oil fell Thursday as fears diminished somewhat over supply disruptions from Iraq.Benchmark West Texas Intermedate crude for August delivery slipped 66 cents to US$105.85 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, eased 79 cents to US$113.21 a barrel in London.While concerns linger about violence in Iraq affecting global crude supplies, oil production and exports from the giant fields clustered in the country's south remain [Read more]

The price of crude oil rose Wednesday as news that the U.S. government is selectively allowing exports of certain light oils offset an unexpected increase in U.S. domestic supplies.Benchmark West Texas Intermediate crude for August delivery rose 47 cents to US$106.50 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, dropped 46 cents to US$114 a barrel in London.In other energy futures trading on the Nymex, wholesale gasoline fell three cents to US$3.09 [Read more]

EDMONTON - Information gleaned from satellite images shows that forests on the slopes of Alberta's Rocky Mountains have taken the brunt of industrial development.A report from Global Forest Watch shows that the eastern slopes, not the oilsands area, have suffered the highest rate of forest loss over the last 12 years.Almost seven per cent of those forests disappeared between 2000 and 2013 — more than double the average rate of forest loss across Canada.Report author Peter Lee says energy and [Read more]

The price of oil was steady Tuesday as investors monitored the insurgency in Iraq for any signs it could affect its oil production and exports. Islamic militants have been steadily expanding their grip on the country's north, where they control a broad swath of territory. But the bulk of the country's production and export operations are in the south, which have so far been spared in this month's advance by the al-Qaeda-inspired group. Iraq's daily oil production hit 3.5 million barrels [Read more]