A new poll by an environmental group indicates Canadians, may overestimate the economic benefits from the oil sands. Statistics Canada reports that production from oil sands accounts for no more than 2 percent of the country’s gross domestic product. Yet the survey by Environmental Defense said 57 percent of respondents overrated that value, including 41 […]
First Nations rights vs national interest
The federal government may have to get more involved in oil and gas development in the wake of a Supreme Court ruling giving title to aboriginals in B.C. That’s the result of a new study done by the Fraser Institute. The court’s unanimous landmark ruling last month brought an end to a thirty year long […]
Oil industry taking steps towards reducing environmental impact
GE and Suncor Energy have agreed to spend upwards of $18-million on technology to cut greenhouse gas emissions and water use in the oil sands. They are not the only two companies involved. Others are members of Canada’s Oil Sands Innovation Alliance, an environmental technology sharing initiative. One deal would see a pilot […]
Is U.S. oil becoming more popular for Canadians?
Canada exports 10 times more oil to the United States than the United States exports to Canada, but that balance is shrinking because of the recent oil boom south of the border. The United States imported about 2.7 million barrels of Canadian oil per day in April 2014. While Canada imported about 263,000 barrels of […]
Cenovus Energy can use all the pipelines it can get
When it comes to pipeline projects, Cenovus Energy says it needs them all to be built. That’s not all, chief executive Brian Ferguson says his company needs every major pipeline project, along with rail, to allow it to transport its growing oil sands production. Ferguson’s comments contradict some analysts predictions who say all the proposed […]
Plan to ship from the oil sands to the east coast runs into a snag
Oil-sands opponents rallied in Bretton Woods, N.H., where New England governors held their annual meeting with eastern Canadian premiers. On the table – energy trade and innovation. “We are calling on Northeast leaders to oppose projects that would bring more tar sands oil into the region, and to implement a regional clean fuel standard along […]
Financial troubles for Northern Lights oil sands lease
The Canadian arm of China Petrochemical Corp. may shelve work on its Northern Lights oil sands lease or sell the property entirely, as Chinese companies begin to rethink future investment prospects in Alberta. Sinopec, could delay efforts to develop the property or seek to sell its interest in the lease entirely as it consolidates its […]
Head of Cenovus not impressed with people “playing politics” over oil sands
Brian Ferguson says it’s political gain not Canada’s best interest that is prompting Justin Trudeau and Thomas Mulcair’s comments about the oil industry. To top it off the CEO of Cenovus Energy says celebrities like Desmond Tutu‘s involvement doesn’t help the debate either. Ferguson made the comments at the 2014 TD Securities Calgary Energy Conference […]
Floods shut down oil operations
Oil well drilling contractors are having a tough time coping with flooding in Saskatchewan and Manitoba, which has damaged roads and bridges. That’s making it impossible to move heavy equipment onto drilling sites. President and CEO of Crusader Drilling Corp., Don Rae, said normally he would employ about 70 people to run three drilling rigs; […]
A dubious first for Canadian Natural Resources
Canadian Natural Resources, Ltd. has admitted a series of never-ending spills on its property could be caused, or at least exacerbated, by its own high-pressure steaming. It’s the first time the company has admitted this, despite fact environmentalist critics have been saying it for years. And 5 years ago the Energy Resources Conservation Board (regulator […]
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