CALGARY - The fate of Canada's largest proposed carbon capture and storage project is even more uncertain after Prime Minister Justin Trudeau's resignation announcement this week amplified existing unknowns around the future of energy and climate policy in Canada, experts say. The $16.5-billion high-profile project in question would capture harmful carbon dioxide emissions from the oilsands, Canada's heaviest-emitting sector. It would be built by the Pathways Alliance, a consortium whose [Read more]
Alberta announces new effort to expand oil and gas pipeline capacity with Enbridge
CALGARY - The Alberta government is partnering with Calgary-based pipeline company Enbridge Inc. to increase the province's oil and gas pipeline capacity. The agreement is to begin with a new formal working group between Enbridge and the Alberta Petroleum Marketing Commission, a Crown corporation. Premier Danielle Smith says they will focus on streamlining regulations and permitting approvals, and expanding opportunities along Enbridge's existing 29,000-kilometre network. It's all part [Read more]
Canadian oil stocks climb as industry absorbs news of Trudeau resignation
CALGARY - Canadian oil and gas stocks climbed Monday as the country's energy sector absorbed the news of Prime Minister Justin Trudeau's resignation. As of mid-afternoon, the energy sector led all others on the TSX in terms of gains, with the S&P/TSX capped energy index up nearly two per cent. Some energy investors and traders cheered Trudeau's announcement on social media. Canada's oil and gas sector has had a rocky relationship with Trudeau's government over the past [Read more]
Canadian carbon removal company scores US$40M grant from fund backed by Bill Gates
A Montreal-based company building a Canadian test site for carbon removal technologies has received a US$40-million grant from Bill Gates' climate solutions venture firm. Canadian startup Deep Sky announced Wednesday it was awarded the grant from Breakthrough Energy Catalyst to help build what it calls its Deep Sky Alpha project in Alberta. The project, being built north of Calgary in the town of Innisfail, is meant to be the world's first direct air capture carbon removal test hub and [Read more]
B.C.’s projected deficit grows again to $9.4 billion in latest fiscal update
British Columbia's new finance minister said she is "realistic" about the economic challenges facing the province after announcing this year's record deficit is projected to reach $9.4 billion. Brenda Bailey said Tuesday that the forecasted deficit for 2024-2025 has grown by $429 million from the $8.9 billion estimated in the last fiscal update in September, mainly due to lower revenues. But Bailey said the rising deficit projection will not change the provincial government's intention to [Read more]
Parkland Corp. names Teunissen president for North American operations
CALGARY - Parkland Corp. says its current chief financial officer Marcel Teunissen will assume the role of president for North America effective Jan. 1. The fuel and convenience store retailer says Teunissen will be responsible for the company's Canadian and U.S. operations. Brad Monaco has been named Parkland's interim chief financial officer until a permanent replacement for Teunissen can be found. The company says Teunissen's appointment is part of the company's "thoughtful" approach [Read more]
LNG Canada names Cooper as next CEO; replaces outgoing Klein
VANCOUVER - The company behind what will be Canada's first major liquefied natural gas export facility has appointed a new CEO. LNG Canada says Chris Cooper will succeed current chief executive Jason Klein, effective April 1, 2025. Cooper is LNG Canada's current senior vice-president for Phase 1 pipeline and expansion. LNG Canada is a Shell-led joint venture that is building an LNG export terminal in Kitimat, B.C. The project has an estimated price tag of $40 billion, and is expected [Read more]
Canada’s premiers meet in Toronto to talk tariffs, trade and health care
TORONTO - Canada's premiers are meeting in Toronto today, and cross-border trade is topping the agenda, on the heels of a tariff threat from U.S. president-elect Donald Trump. Trump is threatening to impose a 25 per cent import tariff on goods coming from Canada and Mexico when he takes office, until both countries stop illegal border crossings and prevent drugs like fentanyl from entering the U.S. The premiers have had virtual meetings with Prime Minister Justin Trudeau to discuss the [Read more]
Number of inactive oil and gas wells in Alberta fell five per cent in 2023: report
CALGARY - A new report says Alberta's oil and gas producers spent $769 million cleaning up old wells in 2023, a $73 million increase from the prior year. The report by the Alberta Energy Regulator says the amount of money spent by industry on oil well clean-up was 10 per cent higher than companies were required to spend under provincial rules. Alberta has been working to address a backlog of thousands of old and inactive wells in the province. Between 2000 and 2020, the number of [Read more]
Alberta minister wants to see $100B in data centre infrastructure in next five years
EDMONTON - Alberta Technology Minister Nate Glubish says he's hoping to see $100 billion worth of artificial intelligence data centres under construction within the next five years. Such centres are filled with computer servers used by companies like Meta, the owner of Facebook and Instagram, to develop and train large-scale artificial intelligence models. These centres, depending on size, require loads of electricity to run. In an interview, Glubish said Meta, as well as other major [Read more]
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