Headlines

Canada's fleet of active drilling rigs increased by 10 from last week according to data from Baker Hughes. Total drilling count was 137 at August 2. 91 rigs were drilling for oil; 46 for natural gas. Counts are still well below the activity levels from one year ago, when 223 rigs were working. Both oil and gas drilling are down considerably from last years counts by 61 and 25 respectively. Historically, drilling activity levels are steadily active from summer until the end of the year. [Read more]

Oil prices rebounded slightly on Tuesday from big falls in recent sessions. Prices have lost more than 9% in the past week, with U.S. President Donald Trump vowing to impose new tariffs on Chinese imports and China making further moves against U.S. agricultural cargoes. The United States also responded to a decline in China's yuan on Monday by branding the country a currency manipulator. West Texas Intermediate crude futures rose 25 cents to $54.94 per barrel. International benchmark [Read more]

REGINA - Ottawa is pushing back against Saskatchewan's request to have the Supreme Court of Canada delay hearing its challenge of the federal carbon tax. The press secretary for federal Environment and Climate Change Minister Catherine McKenna calls Saskatchewan's move an irresponsible example of Conservative politicians battling climate action using taxpayers' money. Sabrina Kim says the federal government has submitted arguments as to why the case should be heard in a timely manner, [Read more]

VANCOUVER - The company building a 670-kilometre natural gas pipeline from northeastern British Columbia to the coast in Kitimat, B.C., says clearing along a section of the pipeline route has been suspended because some work began before required assessments were in place. Coastal GasLink says in a statement that an internal audit determined archaeological impact assessments were not done before construction began at two points along the pipeline route east of Kitimat. The assessments are [Read more]