One thing about big energy projects is they are bound to attract opposition groups. That is certainly the case for Enbridge’s Northern gateway pipeline. Despite the federal governments approval (pending conditions being met), opposition to the project forges on. In the past investors were able to think of these groups as obstacles that will be […]
Poll: Canadians think oil sands more important to economy than they actually are
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 […]
Total updates Fort Hill Mines project
Total is a partner in the Fort Hills Mine oil sands project to produce extra-heavy oil. The project which is now under development will have a capacity of 180,000 barrels per day in four years. The production life of the project is expected to be half a century. The project is split between three companies. […]
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 […]
Sun setting on Sunshine Oilsands?
Investor appetite in the high-yield market reached a limit after Sunshine Oilsands Ltd. of Canada pulled a proposed $325 million bond due to lack of demand from U.S. and Chinese investors. The high-yield bond market, prepared to fund defaulters from Ecuador to Argentina, drew the line at Sunshine Oilsands, which sought bond financing to build […]
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