Prime Minister Justin Trudeau announced a national "floor price" on carbon Monday that would require all provinces and territories to have some form of carbon pricing by 2018. Here are five things to know about putting a price on carbon: Why a carbon price? Putting a price on carbon is meant to give people and companies an incentive to look for lower emission options to save money. The price can come in the form of a specific tax or levy, like the minimum $10 per tonne [Read more]
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CTF Slams Trudeau’s Carbon Tax
Federal government plans to impose carbon taxes on unwilling provinces By 2022, average family could be paying $2,593 in new taxes each year. OTTAWA, ON: The Canadian Taxpayers Federation (CTF) today slammed Prime Minister Trudeau's pledge to impose a rising national 'floor price' which could result in the average Canadian family paying $2,593 per year in new taxes by 2022. "Prime Minister Trudeau has disingenuously implied that provinces have a 'choice' with respect to carbon pricing," [Read more]
Teine Energy Ltd. Announces Amendments To And Increase to Credit Facility
CALGARY, Oct. 3, 2016 /CNW/ - Teine Energy Ltd. ("Teine" or the "Company") announces that it has reached an agreement with its lending syndicate to amend its credit facility, including an increase in size from $250 million to $475 million. National Bank of Canada acted as Agent and sole bookrunner. The amended credit facility is comprised of a $50 million (previously $20 million) operating facility and a $425 million (previously $230 million) revolving facility and is subject to semi-annual [Read more]
Federal carbon tax plan shows disrespect, will hurt economy: Wall
REGINA - Saskatchewan Premier Brad Wall says Ottawa's plan to unilaterally impose a price on carbon across Canada shows what he calls a stunning level of disrespect. Wall says in a statement to media that the national focus on carbon pricing holds the lowest potential for reducing emissions, while potentially doing the greatest harm to the Canadian economy. The premier says Saskatchewan's economy is already hurting from a downturn in commodity prices and will be one of the [Read more]
Manitoba premier noncommittal on carbon tax in response to federal plan
WINNIPEG - Manitoba Premier Brian Pallister is ruling out a cap-and-trade system in his province as part of a national strategy to reduce emissions, but he's not definitive on a possible carbon tax. Prime Minister Justin Trudeau has given the provinces until 2018 to either institute a cap-and-trade approach or set a carbon price of at least $10 a tonne. Pallister says any federal plan should recognize that Manitoba has already moved toward cleaner energy through hydro [Read more]
Oil company gives Saskatchewan First Nation compensation for oil leak
MELFORT, Sask. - A Saskatchewan First Nation has received compensation from Husky Energy due to damage from its oil spill in July. Husky spokesman Mel Duvall says the James Bay Cree First Nation has been given money, but he wouldn't say how much. Duvall says Husky (TSX:HSE) had oil-sniffing dogs working last week along the North Saskatchewan River and they did find evidence of oil. The First Nation, about 60 kilometres east of Prince Albert, had ordered residents to not [Read more]
Alberta won’t support Ottawa’s climate change plans without a pipeline: Notley
EDMONTON - Alberta Premier Rachel Notley says the province will not support Ottawa's climate change plan unless the federal government makes progress on new oil pipelines to Canada's coasts. Prime Minister Justin Trudeau announced a national "floor price" on carbon Monday as he kicked off debate in the House of Commons over whether Canada should ratify the Paris accord on climate change. Notley immediately issued a statement saying her government supports a common carbon price. [Read more]
Fitch: OPEC Cuts Might Have Biggest Impact in North America
NEW YORK & CHICAGO--(BUSINESS WIRE)--OPEC's latest announcement may end up having the biggest regional impact in the US, given the high sensitivity the shale sector has to oil prices and any subsequent changes in oil pricing, according to Fitch Ratings. We believe that the recently announced oil production targets of 32.5m-33.0m b/d at a meeting last week in Algiers are largely symbolic and unlikely to result in a strong rebound in global oil prices. However, it remains the case that the [Read more]
Progress Energy announces senior management leadership changes
CALGARY, Oct. 3, 2016 /CNW/ - Mr. Anuar Taib, EVP and CEO PETRONAS Upstream and Chairman of the Board of both Progress Energy Canada Ltd. (PECL) and Pacific NorthWest LNG (PNW LNG) announced that Mr. Michael Culbert will step down from his day-to-day responsibilities as President and CEO of PECL effective October 31, 2016 as he begins to transition into retirement. Mr. Culbert will continue to serve as a Director on the Boards of both PECL and PNW LNG, and has been appointed to the [Read more]
Stop protesting and be thankful: cheap energy has brought us pretty much everything, including the capacity for green energy
It's Thanksgiving season in Canada, and soon in the US, and it’s time to show some gratitude. It's time to reflect on how we live, all the things we are able to do, and how that all happens. This isn’t just about energy, it’s about effort and building and creating. And it’s about recognizing that we owe respect to those that provide so much of what we take for granted. Examples are not hard to find, both economic and not. Someone somewhere spends his time writing a song that may lift the mood [Read more]