EDMONTON - Alberta Finance Minister Jason Nixon is to deliver today the final numbers on the 2021-22 budget amid higher than expected oil prices. The budget, which ended on March 31, was last forecast to come in at a $3.2 billion deficit. However, Alberta benefited from surging oil prices throughout the earlier part of the year and predicts a $511-million surplus for the current 2022-23 fiscal year. West Texas Intermediate, the benchmark price for North American oil, has softened of [Read more]
‘Over the top hypocrisy’ of F1 oilsands protest helps Alberta’s case, Kenney argues
WASHINGTON - Premier Jason Kenney says he's not losing sleep over a Formula One driver's protest against the Alberta oilsands during last weekend's Canadian Grand Prix in Montreal. In fact, Kenney says the "over-the-top hypocrisy" of Sebastian Vettel's position helps him make the case for why the world should be looking to Alberta for its fossil-fuel energy. Kenney is back in the U.S. capital this week to help oilsands executives convince lawmakers on Capitol Hill that they're serious [Read more]
Woodpecker nest halts construction of TMX pipeline near Bridal Falls, B.C.
VANCOUVER - The discovery of a woodpecker's nest has halted construction of the Trans Mountain pipeline along a 400-metre stretch near Chilliwack, B.C. A statement from Trans Mountain Corp. says buffer zones around trees and vegetation have been marked with rope signs and flagging tape near Bridal Falls where the red-breasted sapsucker has been seen nesting. The Crown corporation says the area will not be cleared until there's confirmation from a wildlife resource specialist that no nests [Read more]
Alberta premier, oilsands execs in U.S. capital to rehabilitate Canada’s energy image
WASHINGTON - Alberta Premier Jason Kenney and oilsands industry executives are in the U.S. capital as part of a fresh push to rehabilitate the public image of Canada's fossil fuels. At the core of the effort is the Pathways Alliance, a coalition of oilsands producers that hopes to eliminate the industry's greenhouse gas emissions by 2050. The alliance is proposing a multibillion-dollar carbon capture and storage project that would store harmful emissions deep in the Prairies to keep them [Read more]
Gas tax break not currently on table as Liberals battle affordability problems
OTTAWA - The federal government has no immediate plans to cut prices at the pump by offering Canadians a temporary reprieve from the federal gas tax, Natural Resources Minister Jonathan Wilkinson said Tuesday. Canada is looking to stabilize global oil prices by increasing supply, something Wilkinson said is starting to happen. He said aid for Canadian families in the meantime is focused on areas Finance Minister Chrystia Freeland highlighted in a speech last week. Those include required [Read more]
Parliamentary Budget Officer says Trans Mountain pipeline to result in net loss for government
OTTAWA - The Parliamentary Budget Officer says the federal government now stands to lose money from its investment in the Trans Mountain pipeline. The latest analysis shows the net present value of the pipeline is negative $600 million, leaving it worth about $1.2 billion less than the PBO's estimate in December 2020. Estimated construction costs of the pipeline have skyrocketed from $12.6 billion to $21.4 billion since the last report and the completion date has been pushed back a year to [Read more]
Experts torn over when ‘demand destruction’ could trigger gasoline price relief
CALGARY - There's a famous saying that 'the cure for high prices is high prices,' but when it comes to gasoline, that may not necessarily be the case. Experts are torn on when or even if drivers might see significant "demand destruction" — an economics term for a sustained decline in demand for a product due to excessively high prices — at the pumps. In theory, reaching an unsustainable price would serve as a tipping point and ultimately cause fuel prices to fall, finally offering drivers [Read more]
Taxes potentially uncollected: Saskatchewan years behind on oil audits
REGINA - The Saskatchewan Ministry of Energy and Resources is years behind on auditing oil, potash and uranium companies, potentially leaving millions of dollars in royalties and taxes uncollected, says the provincial auditor. As of March 2021, there were 101 audits filed before 2020 that remained outstanding, Tara Clemett said in her most recent report this week. "Unless we go through these 101 audits, we won't know what's owed to us, or we owe them," she said in an interview. "It's [Read more]
U.K.-style ‘windfall tax’ an unacceptable idea, says Savage
CALGARY - Sonya Savage says anything resembling the U.K.'s so-called "windfall tax" on the profits of oil and gas companies must not be implemented in Canada. The U.K. recently imposed additional taxes on oil and gas firms, who are reaping record profits in 2022 due to sky-high commodity prices. The windfall tax is meant to help fund cash payments to help millions of British citizens cope with rapidly rising energy bills. Similar programs are being considered in other countries. Recent [Read more]
Alberta First Nations want consultation, benefits from oilsands carbon storage plans
EDMONTON - Several Alberta First Nations have told the province's government and energy industry that they must be consulted and share in the benefits of carbon capture projects near their lands that are crucial to making the oilsands more climate friendly. "(The companies) want to work together to reduce climate effects," said Cameron Alexis, head of Tribal Chiefs Ventures, which includes six Treaty 6 First Nations near Cold Lake, Alta. "However, those big players didn't come in the first [Read more]
- « Previous Page
- 1
- …
- 86
- 87
- 88
- 89
- 90
- …
- 553
- Next Page »