REGINA - A Saskatchewan First Nation has signed on to take full control of its land and resource money. Kawacatoose First Nation signed the First Nations Oil and Gas and Moneys Management Act in Regina today. Bernard Valcourt, the federal Minister for Aboriginal Affairs and Northern Development, says Kawacatoose will receive funds directly from natural resource development. Before signing on, any money earned from mineral rights on the First Nation land was held in trust by the federal [Read more]
Former Tory minister to head Alberta environmental monitoring agency
EDMONTON - A former Tory minister has been named the head of Alberta's long-awaited environmental monitor.Lorne Taylor will become the first chairman of the province's flagship agency to understand the impacts of rapid industrial development throughout the province, especially in the oilsands.Among other cabinet tasks, Taylor was environment minister from 2001-2004 when Ralph Klein was premier.He was also a member of a group of fiscal hawks within the Tory caucus.More recently, he is a [Read more]
Redford Resigns
EDMONTON - Just 29 months after Alberta Premier Alison Redford stood at the base of the grand stairs in the legislature rotunda to take the oath of office, she stood at the same spot Wednesday and quit. Alberta's 14th premier, bludgeoned and beaten by revelations of lavish spending and facing an expanding caucus revolt, said the turmoil had taken an intolerable toll. "Quite simply, I am not prepared to allow party and caucus infighting to get in the way of building a better future for our [Read more]
Oil rises above US$100 as Energy Department data shows fuel demand improving
The price of oil rose above US$100 a barrel for the first time in a week Wednesday on signs of increased demand for petroleum products.Benchmark West Texas Intermediate crude for April delivery gained 67 cents to close at US$100.37 a barrel on the New York Mercantile Exchange. The April contract expires Thursday and the more heavily-traded May contract rose 29 cents to US$99.17.The Energy Department said that demand for gasoline rose 1.5 per cent over the four-week period ended March 14, [Read more]
Athabasca to update 2014 budget, says close to finding Duvernay partner
CALGARY - Athabasca Oil Corp. says it expects to table an updated 2014 capital budget in July, once there's a resolution to most of the uncertainty that's been dogging the oilsands developer and light oil producer.Calgary-based Athabasca (TSX:ATH) aims to announce a joint-venture deal for its holdings in Alberta's Duvernay shale around that time, after prospective partners have had a chance to look over new test results on four wells in the region.And with most hurdles cleared in Athabasca's [Read more]
Hearings set on Enbridge Energy’s proposal to expand capacity of Alberta Clipper oil pipleline
ST. PAUL, Minn. - Minnesota regulators are holding hearings across northern Minnesota this week on Enbridge Energy's proposal to expand the capacity of its Alberta Clipper pipeline. Following a hearing Tuesday night in Hallock, the Public Utilities Commission has hearings set for Wednesday in Thief River Falls and Cass Lake, and Thursday in Floodwood and Duluth. The hearings will conclude with a final forum April 3 in St. Paul. The Alberta Clipper pipeline runs from Alberta to northeastern [Read more]
Jim Flaherty steps down from cabinet
OTTAWA - Jim Flaherty is leaving the federal cabinet after more than eight years as finance minister to prepare for a return to the private sector, saying the move is unrelated to his recent health problems. Prime Minister Stephen Harper is expected to name his replacement Wednesday. Flaherty, who delivered his final budget last month, said he made the decision with his family earlier this year. "As I begin another chapter in my life, I leave feeling fulfilled with what we have [Read more]
Oil gains most in 2 weeks as factory data boosts US economic outlook
The price of oil rose the most in two weeks Tuesday in the wake of strong U.S. factory data and an apparent easing in tensions over Ukraine.Benchmark West Texas Intermediate crude for April delivery gained $1.62 to US$99.70 on the New York Mercantile Exchange. It was oil's biggest gain since March 3.Brent crude, used to set prices for international varieties, gained 55 cents to US$106.79 on the ICE Futures exchange in London.Data from the Federal Reserve showed that U.S. factory output in [Read more]
Petitions calls for ban on oil, gas drilling in southern Alberta city
EDMONTON - A group has delivered to the Alberta legislature petitions with more than 11,00 signatures from residents who are opposed to oil and gas exploration in their city.Sheila Rogers with "No Drilling Lethbridge" gave the petitions to the city's MLA, Greg Weadick, on Monday.Rogers said the group had a massive response to its petition, which calls on the province to prohibit oil and gas drilling within the city.GoldenKey Oil has secured mineral rights from Alberta Energy in an undeveloped [Read more]
B.C. water permits for natural gas fracking illegal, lawsuit alleges
VANCOUVER - Environmental advocates say the B.C. government has been illegally granting natural gas companies repeated short-term approvals, allowing them to use large quantities of fresh water for years without obtaining full water licences.The Western Canada Wilderness Committee and the Sierra Club of B.C. are in a Vancouver court today asking it to throw out the short term approvals granted for water use for natural gas extraction known as hydraulic fracturing, or fracking.Under provincial [Read more]
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