EDMONTON - Some Alberta environmentalists say a national agreement between the forestry industry and conservation groups isn't working in the province.Keepers of the Athabasca and the Alberta Wilderness Association say logging is still going on inside caribou habitat and in buffer zones set up to protect the animals' ranges.In the Canadian Boreal Forest Agreement reached four years ago, major forestry companies agreed to preserve forests and environmentalists ended a boycott and media campaign [Read more]
Oil rises ahead of U.S. supply data and minutes from Fed meeting
The price of oil rose Wednesday before the release of the latest report on U.S. supplies and minutes from the U.S. Federal Reserve's April policy meeting.Benchmark U.S. crude for July delivery was up 56 cents to US$102.90 a barrel at 1:50 a.m. ET in electronic trading on the New York Mercantile Exchange. It gained 22 cents to $102.33 on Tuesday.Brent crude, a benchmark for international oil, was up 4 cents to $109.73 a barrel on the ICE exchange in London.Traders are watching for analysis of the [Read more]
Funding problems threaten to ground night helicopter ambulance in oilsands area
FORT MCMURRAY, Alta. - A funding shortfall threatens to ground nighttime helicopter ambulance service in Alberta's bustling oilsands region.Phoenix Heli-Flight said it plans to discontinue night flights out of Fort McMurray to remote accident sites at the end of the month."If there is no funding in place, the company can't afford to keep it," chief pilot Darrel Peters said Tuesday.Peters said the company has a fee-for-service deal with Alberta Health Services when it responds to injury [Read more]
Industry says no added risk for Bakken crude despite explosive accidents in US, Canada
BISMARCK, N.D. - Oil industry representatives are pushing back against tougher rules for rail cars carrying crude despite a string of fiery accidents and insisting that oil shipped by train from the Northern Plains is no more dangerous than some other cargoes.An industry-funded report released Tuesday said the volatility of Bakken oil from North Dakota and Montana is comparable to other light crudes.But the report offers further evidence that Bakken crude is more volatile than heavier oils such [Read more]
Ottawa demands NAFTA body drop investigation into oilsands tailings
CALGARY - Ottawa is demanding the Commission for Environmental Co-operation drop its investigation into whether laws are being properly enforced when it comes to oilsands pollution. Two environmental groups and three individuals complained in 2010 to the CEC, a body created alongside the North American Free Trade Agreement as a way for Canada, the United States and Mexico to address environmental issues. The complainants assert the federal government has failed to enforce provisions in the [Read more]
Oil hovers above $102 a barrel as Libya tensions flare
The price of oil hovered above US$102 a barrel Tuesday as the threat of further violence in Libya threw into question the country's ability to ramp up its crude exports.Benchmark U.S. crude for July delivery was up 18 cents to $102.29 a barrel at 2:40 a.m. ET in electronic trading on the New York Mercantile Exchange. The Nymex contract for June rose 12 cents to settle at $102.73 on Monday, its last day of trading.Brent crude, a benchmark for international oil, added 23 cents to $109.60 on the [Read more]
Railways and crude shippers weigh in on changes to liability rules
CALGARY - Railway operators and the petroleum industry have weighed in on how they think the risks of shipping dangerous goods by rail ought to be divvied up — and it's clear the two aren't on the same page. Rail carriers aren't happy with the status quo, in which they're legally required to move whatever customers want shipped, but are entirely on the hook if something goes wrong. The energy players, on the other hand, are generally satisfied with how the current system works, although they [Read more]
Oil extends gains above $102 a barrel on demand outlook, lingering Ukraine jitters
The price of oil extended gains above $102 a barrel Monday on forecasts of higher global demand. Benchmark U.S. crude for June delivery was up 16 cents to $102.18 a barrel at 0620 GMT in electronic trading on the New York Mercantile Exchange. The contract rose 52 cents Friday to close at $102.02 and gained about 2 per cent for the week. Brent crude for July delivery, a benchmark for international oil, was up 41 cents to $110.15 on the ICE exchange in London. The Commerce Department said [Read more]
Crude oil falls below US$102 a barrel after U.S. factory output slips
The price of oil fell below US$102 a barrel Thursday as weak economic data in the U.S. suggested demand for crude could fall. Benchmark West Texas Intermediate crude for June delivery fell 87 cents to close at US$101.50 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oil used by many U.S. refineries, rose 25 cents to close at US$110.44 a barrel in London. Oil slipped after the Federal Reserve said Thursday that U.S. industrial production dropped in [Read more]
Oil-rich provinces not just Canada’s best economic performers, world-beaters as well
OTTAWA - A new report from the Conference Board puts Canada's three oil rich provinces on top of the world in terms of economic performance. For the rest of the country the news is not so stellar. The think-tank's annual economic report card comparing 16 of the world's richest countries puts Canada in fifth place overall, a one spot better than last year and behind Australia, Ireland, the United States and Norway. That's partly a function of Canada's relatively stable growth rate, but [Read more]
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