Oil prices were slightly lower Monday after Crimea's vote to split from Ukraine and join Russia.Benchmark U.S. crude for April delivery was down 9 cents to $98.80 a barrel at 0715 GMT in electronic trading on the New York Mercantile Exchange. The contract rose 69 cents to close at $98.89 on Friday.Brent crude, used to set prices for international varieties of crude, was down 21 cents to $108 on the ICE exchange in London.Residents in Crimea voted Sunday overwhelmingly in favour of the split in a [Read more]
Residents near Alberta gas plant told not to use water from their wells
EDSON, Alta. - Alberta Health Services is urging residents near a gas plant to not use water from their wells due to possible contamination.AHS says the potential contaminant is Sulfolane, an industrial solvent used to purify natural gas.The government says residents located within five kilometres of the South Rosevear Gas Plant in Yellowhead County near Edson should get drinking water from other sources than their private wells.AHS says foods can be cooked in well water only if water will be [Read more]
Crude oil prices gain ahead of Sunday’s referendum on Crimean secession
The price of oil rose Friday on concerns that tensions over Ukraine could rise with this weekend's referendum on Crimean secession.But oil still finished the week down more than three per cent, largely because traders were concerned about the strength of demand from China.Benchmark West Texas Intermediate crude for April delivery rose 69 cents to close at US$98.89 a barrel on the New York Mercantile Exchange on Friday. But for the week, oil was down US$3.69 a barrel, or 3.6 per cent.Brent crude, [Read more]
Do you support Northern Gateway recommendations, Kitimat to ask residents
KITIMAT, B.C. - The district of Kitimat has released the wording of a question that will be asked of residents in an upcoming referendum on the Northern Gateway pipeline.The municipal ballot will ask eligible residents: "Do you support the final report recommendations of the Joint Review Panel (JRP) of the Canadian Environmental Assessment Agency and National Energy Board, that the Enbridge Northern Gateway Project be approved, subject to 209 conditions set out in Volume 2 of the JRP’s final [Read more]
Democrats grapple with election-year dilemma over Keystone XL oil pipeline
WASHINGTON - Democrats are grappling with an election-year dilemma posed by the Keystone XL oil pipeline.Wealthy party donors are funding candidates who oppose the project — a high-profile symbol of the political debate over climate change. But some of the party's most vulnerable incumbents are pipeline boosters, and whether Democrats retain control of the Senate after the 2014 midterm elections may hinge on them.The dilemma was highlighted Thursday as President Barack Obama's former national [Read more]
Crude oil back above US$98 a barrel; natural gas falls near two-month low
The price of oil got a slight boost from positive U.S. economic data Thursday, while natural gas hit a nearly two-month low.Benchmark U.S. crude for April delivery rose 21 cents to US$98.20 a barrel on the New York Mercantile Exchange. On Wednesday, the Nymex contract fell $2.04 to close at US$97.99, its first close below $100 in a month.Brent crude, used to set prices for international varieties of crude, dropped 63 cents to US$107.39 on the ICE Futures exchange in London.In the U.S., retail [Read more]
Alberta Tory backbencher quits caucus; calls Redford a BULLY
EDMONTON - A Tory backbencher in Alberta has announced he is leaving Premier Alison Redford's caucus because he can no longer work with her. Len Webber told reporters in Calgary that Redford is disrespectful, a bully and — quote — "not a nice lady." Redford has been facing a backlash from a $45,000 trip to South Africa for Nelson Mandela's funeral. On Wednesday, after weeks of trying to weather the controversy, she said she had repaid the money. Webber had already announced his [Read more]
Former Obama adviser: If you reject Keystone XL, you ‘make Mr. Putin’s day’
WASHINGTON - President Barack Obama's former national security adviser says rejecting the Keystone XL pipeline would be a gift to Vladimir Putin.James Jones is testifying today at a Senate hearing on whether approving the pipeline is in the U.S. national interest.He says energy scarcity is a powerful geopolitical weapon — as evidenced now in Ukraine, and at various times in Iran and Venezuela.Naming the Russian leader personally, he says the world's bullies are watching the KXL debate, and [Read more]
Saskatchewan passes motion to support Northern Gateway pipeline
REGINA - The Saskatchewan legislature has passed a motion supporting construction of the Northern Gateway pipeline, but the vote was not unanimous.The motion says there is an oil transportation bottleneck that is driving down the value of Saskatchewan oil. Premier Brad Wall says the pipeline may not carry Saskatchewan oil, but he claims it will benefit the province by helping to clear up the bottleneck."If we get Canadian oil to tidewater, like these pipelines will do, we'll increase the value [Read more]
Oil falls below US$98 on China economic slowdown jitters; higher US supplies
The price of oil dropped below US$98 a barrel Wednesday as the possibility of a deeper economic slowdown in China fed expectations of weaker demand and a report showed a rise in U.S. oil supplies.Benchmark West Texas Intermediate crude for April delivery fell $2.04, or two per cent, to close at US$97.99 a barrel on the New York Mercantile Exchange, the first close below $100 in a month.Brent crude, used to set prices for international varieties, dropped 53 cents to US$108.02 a barrel on the ICE [Read more]
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