WASHINGTON - A quick look at some of the highlights from the U.S. State Department's report on TransCanada Corp.'s proposed Keystone XL pipeline: — Drivers of oilsands development are global and any single infrastructure project is unlikely to significantly affect the rate of extraction in oilsands areas. — Cross-border pipeline constraints have a limited impact on crude flows and prices. — East-west pipelines to Canada's coasts would be used to export oilsands crude to growing Asian [Read more]
Wall says Keystone report cause for optimism
REGINA - Saskatchewan Premier Brad Wall says a long-awaited report by the U.S. State Department on the Keystone XL pipeline is cause for some optimism.However, Wall also cautions that at the end of the day, the final decision on the project rests with U.S. President Barack Obama.The premier has said the Keystone XL pipeline, which would carry oilsands bitumen to Gulf Coast refineries, is an important project for Canada.The pipeline would cross into Montana from Saskatchewan.Wall says the report [Read more]
U.S. State Dep’t report stands by oilsands, Keystone XL
WASHINGTON - The often-delayed, hotly debated Keystone XL pipeline has taken one step closer to completion. A long-awaited report by the U.S. State Department says the development of the Alberta oilsands is driven by many more factors than a single pipeline and rejects the argument by environmental groups that stopping the pipeline would thwart the oilsands. The report points out that it has reached the same conclusion as previous State Department studies into the oft-stalled project: The [Read more]
Nova Scotia government says treated fracking waste can be cleaned for disposal
HALIFAX - The Nova Scotia government says a waste management company has found a way to safely clean up millions of litres of treated water left over from fracked wells. Environment Minister Randy Delorey released a statement Friday saying the process developed by Atlantic Industrial Services in Debert can clean the waste to the point that it poses a "minimal risk" to the health of Nova Scotians and the environment. Delorey says independent laboratory results show the filtered water meets [Read more]
New Brunswick premier vows to press ahead with shale gas despite protests
FREDERICTON - New Brunswick Premier David Alward used his final state of the province address before the next election to urge the public to support the development of a shale gas industry. Alward said his Progressive Conservative government will push ahead to help create a shale gas sector, adding that the cost of not moving forward is too great. "To not take advantage of this opportunity would be one of the most irresponsible things a government could do," Alward told a business audience [Read more]
Feds ask National Energy Board, Competition Bureau, to study propane price jumps
OTTAWA - The federal government is calling for an investigation of a propane supply crisis that has seen prices for the fuel more than double since the fall. Natural Resources Minister Joe Oliver says he will ask the National Energy Board and Competition Bureau to review the price increases and propane shortages that have affected rural areas mainly in eastern Ontario and western Quebec. Earlier this week, Ontario Energy Minister Bob Chiarelli pleaded with Oliver to hold a teleconference [Read more]
Canadian dollar will fall to 87 cents this year, says BMO Economics
TORONTO - Watch for the Canadian dollar to lose more of its shine this year, cautioned a report Thursday by the Bank of Montreal. BMO Senior economist Benjamin Reitzes says a variety of factors, from an increasingly dovish tone from the Bank of Canada and further tapering action from the U.S. Federal Reserve, will continue to drag down the loonie. "Look for the loonie to weaken to C$1.15 (87 U.S. cents) around mid-year or perhaps sooner, given the speed of the recent depreciation," he [Read more]
Shell 4Q earnings fall 74 per cent
AMSTERDAM - Shell's earnings have dropped by 74 per cent in the fourth quarter from the same period a year ago, on a mix of higher exploration costs, lower production, and worse refining margins. The company, which warned on Jan. 17 weaker figures were coming, also had more one-time gains in 2013. Net profit for the quarter was $1.78 billion (130 billion euros), versus $6.73 billion a year earlier. The earnings report, the first featuring new Chief Executive Ben van Beurden, noted that [Read more]
Canadian officials encouraged by forthcoming State report on Keystone XL
WASHINGTON D.C., United States - Canadian officials in both Washington and Ottawa say they're encouraged by what they're hearing about a forthcoming State Department report on the potential environmental impact of the Keystone XL pipeline. The officials, speaking on condition of anonymity because the report is not yet public, say it could be ready for release within days and will bolster the case for the controversial energy project. One source in Washington warns, however, that there [Read more]
Propane shortages prompting state officials to act
LOUISVILLE, Ky. - Supply problems in several states where propane is a crucial heating source have prompted governors and other officials to take action against vendors, investigate claims of price gouging and increase aid to low-income customers.The propane drain coincides with extreme cold temperatures in several Midwestern and Southern states where residents and business owners are struggling to keep heating tanks filled due to increased costs or supply cut-offs."The industry as a whole [Read more]
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