CALGARY, ALBERTA--(Marketwired - Nov. 6, 2015) - Canadian oil will find new paths to markets and continue to create jobs and wealth for Canadians, despite U.S. President Barack Obama's political decision to deny the Keystone XL permit, the Canadian Association of Petroleum Producers said today. Canada continues to pursue all forms of energy transportation to markets in all directions. This increased market access will create jobs, economic benefits and government revenues by taking [Read more]
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No to Keystone disappointing for Canada-U.S. relations: Saskatchewan premier
REGINA - Saskatchewan Premier Brad Wall says rejection of the Keystone XL pipeline is disappointing, not only for the energy sector, but also because of the signal it sends about Canada-U.S. relations.President Barack Obama this morning said no to TransCanada's application to build the pipeline, saying it would not serve U.S. national interests.Obama said the project had an overly inflated role in the political discourse between both countries.Wall says the U.S. administration is putting [Read more]
Groundstar Resources Limited Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Nov. 6, 2015) - Groundstar Resources Limited ("Groundstar" or the "Company") (TSX VENTURE:GSA) announces that the Company is continuing with its application to the TSX Venture Exchange (the "TSXV") for the trading suspension of the common shares of the Company to be revoked and shares reinstated for trading. As a result of the recent cease trade orders which were implemented against the Company (and which have subsequently been lifted), the [Read more]
Key dates in seven-year history of TransCanada’s Keystone XL pipeline
The Obama administration has rejected TransCanada's application to build the Keystone XL pipeline that would connect Canada's oilsands to Gulf Coast refineries. Here are some key dates in the history of the pipeline proposal:July 2008: TransCanada Corp. (TSX:TRP) and ConocoPhillips, joint owners of the Keystone Pipeline, propose a major extension to the network, dubbed Keystone XL. The new addition is proposed to transport hundreds of thousands of barrels of oilsands bitumen from Alberta to [Read more]
TransCanada CEO Russ Girling responds to U.S. rejection of Keystone pipeline
CALGARY - TransCanada Corp. CEO Russ Girling issued a statement Friday after U.S. President Barack Obama rejected the company's proposed Keystone XL pipeline, which would have shipped oil from Alberta to Texas. Here is the text of the statement: We are disappointed with the President's decision to deny the Keystone XL application.Today, misplaced symbolism was chosen over merit and science - rhetoric won out over reason.The U.S. consumes over seven million barrels per day more oil than it [Read more]
Obama Denies Keystone XL Permit; TransCanada Will Review its Options
CALGARY, ALBERTA--(Marketwired - Nov. 6, 2015) - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced it will review all of its options in light of a permit denial for Keystone XL. Those options include filing a new application to receive a Presidential Permit for a cross border crude oil pipeline from Canada to the United States. "TransCanada and its shippers remain absolutely committed to building this important energy infrastructure project," said Russ Girling, [Read more]
President Obama’s Keystone rejection is an assault against American workers
WASHINGTON, Nov. 6, 2015 /PRNewswire-USNewswire/ -- API President and CEO Jack Gerard said the president's rejection of the Keystone XL pipeline is a clear example of politics coming before the interests of U.S. workers and consumers. "It's ironic that the administration would strike a deal to allow Iranian crude onto the global market while refusing to give our closest ally, Canada, access to U.S. refineries," said Gerard. "This decision will cost thousands of jobs and is an assault to [Read more]
Obama administration refuses permit for Keystone XL pipeline after 7-year review
WASHINGTON - The seven-year saga of the Keystone XL pipeline culminated Friday in U.S. President Barack Obama rejecting a project that had become the biggest irritant in Canada-U.S. relations, amid its improbable escalation from an isolated land dispute into a major cross-border environmental struggle.The pipeline became the fault line in the American battle over climate change as the green movement pressed the president to turn down a permit that would have allowed Calgary-based TransCanada [Read more]
Actually, the industry is not asking for a magic wand
The numbers are in and things have never been quite this bad in Alberta, at least not in recent decades. StatsCan reports that 52,800 fewer people are working in Alberta this year compared to the same time last year. Athabasca Oil became one of the more recent companies to announce dramatic layoffs. It joins names like Cenovus, MEG, Enerplus, and Devon. Capital is already beginning its exodus, recently exemplified by Shell abandoning its multi-billion dollar Carmon Creek project. Things are only [Read more]
Suncor’s attempt to dismantle Canadian Oil Sands takeover defence heads to ASC
CALGARY - The battle between Suncor Energy Inc. (TSX:SU) and Canadian Oil Sands (TSX:COS) heads to the Alberta Securities Commission on Nov. 26.Suncor has asked the provincial regulator to dismantle one of the anti-takeover measures adopted by COS directors so that COS shareholders can decide for themselves whether to accept a deal announced on Oct. 5.COS says its board is actually attempting to defend its shareholders from a bidder with an unfair advantage because it has access to private [Read more]