American pipeline workers are blasting a decision to delay the Keystone XL process, saying the move by the Obama administration has erased a few thousand high-paying jobs this summer. One union — the Laborers' International Union of North America — called the move gutless, and accused the government of announcing it on a holiday weekend in the hope fewer people would be paying attention. One member of that union says his phone is ringing off the hook. Ron Berringer says he has received [Read more]
Price of crude oil rises and stays above US$104 a barrel amid Ukraine jitters
The price of oil edged higher Monday and stayed above US$104 per barrel as investors watched the simmering tensions in Ukraine.West Texas Intermediate crude for May delivery rose seven cents to US$104.37 a barrel on the New York Mercantile Exchange after a three-day holiday weekend.Markets were on edge at the possibility of European or U.S. sanctions that might disrupt Russian oil exports. Tensions got worse after an Easter morning shooting at a checkpoint manned by pro-Russian insurgents.Upward [Read more]
Oil edges down but stays above $104 a barrel amid Ukraine jitters
BEIJING - The price of oil edged down Monday but stayed above $104 per barrel as investors watched simmering tensions in Ukraine. U.S. crude for May delivery was down 12 cents at US$104.18 in electronic trading on the New York Mercantile Exchange after trading resumed following a three-day holiday weekend. The contract rose 44 cents to $104.30 in the previous session. Markets are on edge at the possibility of European or U.S. sanctions that might disrupt Russian supplies. Tensions were [Read more]
Alaska Legislature passes bill to advance major liquefied natural gas project
JUNEAU, Alaska - The Alaska Legislature has passed a bill setting the state's participation in a major liquefied natural gas project. The House voted 36-4 on the measure Sunday. The Senate later voted 16-4 to agree to the House changes. SB138, from Gov. Sean Parnell, would set state participation at about 25 per cent in a project also being pursued TransCanada, the Alaska Gasline Development Corp., and the North Slope's major players. It would allow the project to move to a stage of [Read more]
No Keystone XL pipeline this year, following new delay
WASHINGTON - The Canadian government demanded an answer immediately on the long-delayed Keystone XL pipeline. It has now received a reply from the United States government that amounts to: Maybe next year. The project is now paralyzed for an indefinite period, with the U.S. administration Friday announcing another delay in a process already beset by political and legal challenges. The announcement made it clear that Canadian pipeline backers will not get the answer they wanted in time for [Read more]
Oil rises past $104 a barrel as Ukraine jiggers offset large rise in US crude supplies
NEW YORK - The price of oil rose past US$104 per barrel Thursday on worries over the upheaval in Ukraine.Benchmark West Texas Intermediate crude for May delivery rose 54 cents to close at US$104.30 a barrel in New York.Supplies in the U.S. are ample — the Energy Department reported the biggest gain in stocks in 13 years on Wednesday. But that wasn't enough to calm the fears of traders this week, who worry that Russia's actions in response to the turmoil in Ukraine could be met with sanctions [Read more]
Nova Scotia government ends tax break agreement with Imperial Oil
HALIFAX - The Nova Scotia government plans to end a tax break agreement with Imperial Oil (TSX:IMO) because it no longer operates a refinery in Halifax. Municipal Affairs Minister Mark Furey says since the company is converting its site in Dartmouth to a storage facility, the taxes it pays to the Halifax Regional Municipality should revert to standard property assessment tax rates. Furey says changes to the province's Oil Refineries and L.N.G. Plants Municipal Taxation Act would ensure [Read more]
B.C. government reverses its course on environment rules for natural gas, resorts
FORT NELSON, B.C. - British Columbia Environment Minister Mary Polak has done a complete turn around on a decision that would have exempted most of the natural gas produced in the province from mandatory environmental assessment. After quietly passing an order in council Monday without public debate that would have removed about 99 per cent of the natural gas produced in the province from automatic environmental reviews, the government reversed the decision late Wednesday. The announcement [Read more]
Triton partnership gets NEB approval for 25-year LNG export licence
CALGARY - The National Energy Board has approved an application by Triton LNG Limited Partnership for a 25-year licence to export liquefied natural gas from a port in British Columbia. Triton, a partnership announced last year between AltaGas LTd. (TSX:ALA) and Idemitsu, will ship the gas from either Kitimat or Prince Rupert. The NEB says a proposed liquefaction terminal will require further regulatory approval before construction can begin. In their application, the Triton partners [Read more]
Crude oil remains near US$104 a barrel despite huge rise in US stocks
NEW YORK - Oil rose just a penny Wednesday as worries about upheaval in Ukraine offset the dampening effect of a huge increase in U.S. oil supplies.Benchmark West Texas Intermediate crude for May delivery closed at US$103.76 a barrel on the New York Mercantile Exchange. Brent crude for June delivery, a benchmark for international varieties, closed at US$109.36 in London. The May contract expired Tuesday at US$108.74 a barrel.U.S. oil rose to nearly $105 per barrel in morning trading, but fell [Read more]
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