Energy

OIL's WELL: Energy companies rolling in record profits

May 10, 2022

Earnings were boosted by the Russian invasion of Ukraine. The February invasion has driven the price and demand for global oil higher as the EU proposes blocking Russian oil imports.

Guilbeault says oil companies need to pour profits into CO2 mitigation projects

May 6, 2022

"We won't be putting even more and more money on the table," Guilbeault said. "They have to invest as well."

Oil and gas prices soar as EU proposes ban on Russian oil within six months

May 4, 2022

EU Commission President Ursula von der Leyen announced this latest round of sanctions will include a complete import ban on all Russian oil.

CPP investment board cares about climate, invests in coal mine

Updated May 3, 2022

Canada Pension Plan Investment Board disclosed it holds $1 million worth of shares in Adaro Energy, an Indonesian coal mine, as well as $1 million in stock at China Coal Energy Co.

Feds question who electric car subsidies really benefit

Updated May 3, 2022

“Essentially what we’re doing is subsidizing a vehicle that a wealthy person is going to buy.”

Feds to approve massive offshore drilling in the east

Updated Apr 21, 2022

Environmental activists have denounced the Bay du Nord project as going against the federal climate goals.

Bloc Québécois leader rips Trudeau for supporting oil and gas industry

Updated Apr 21, 2022

Yves-François Blanchet also called for the Liberal government to cancel the Bay du Nord oil and gas project.

Poilievre commits to ‘unlock the potential’ of Canada’s Arctic ports

Updated Apr 21, 2022

The Conservative leadership candidate said ‘government gatekeepers’ have prevented the port of Churchill, Manitoba from shipping oil to international markets

Federal fuel standard likely to further boost gas prices

Updated Apr 21, 2022

The Department of Environment said direct household costs of the Clean Fuel Standard would be up to $2.4 billion nationwide, and that ‘these impacts will not be distributed evenly’

Canada will increase oil production to combat Russian resources

Updated Apr 21, 2022

“But of course, we are looking to be sensitive to, and consistent with, the commitments we’ve made with respect to climate change,” said Wilkinson.

Poilievre vows to end foreign oil imports

Updated Apr 21, 2022

To end the foreign oil dependency, Poilievre said he would double oil production in Newfoundland and support oil pipelines to be constructed across the country.

Liberals vote against motion for Canada to export more gas to Europe

Updated Apr 21, 2022

Two prominent Conservative MPs said letting Canadian natural gas to tidewater is vital to both Canada and Europe’s security and economy.

WATCH: Charest tells Western Standard he wants ‘simple and flexible’ carbon tax

Updated Apr 21, 2022

The Conservative leadership candidate discussed carbon pricing, pipelines, firearms and equalization payments with the Western Standard’s Cory Morgan

Report finds feds’ oil spill plan lacked ‘focus and clarity’

Updated Apr 21, 2022

Reviewers found despite millions of dollars budgeted for tanker spill preparedness, there were ‘insufficient new financial and human resources’

Experts warn Alberta oil price boom could be threatened by volatility

Updated Apr 21, 2022

Canada could fill the energy void left by reduced American and European imports of Russian oil, but more pipelines would need to be built.

Biden bans Russian oil

Updated Apr 21, 2022

No European countries have made announcements to ban Russian energy imports, as those in the EU are far more reliant on Russian oil.

Wild ride for oil markets brings record-high prices

Updated Apr 21, 2022

Bank of America analysts noted that if Russia’s oil is cut off, the market could face a 5 million barrel shortfall which could push oil prices to $200 per barrel.

Poilievre campaigning to drop carbon tax

Updated Apr 21, 2022

“To raise that tax again and again at a time when the cost of living is soaring, and people are having a hard time just getting food on the table? It’s unforgivable,” said Poilievre.

Gas prices skyrocket, CTF calls for federal relief

Updated Apr 21, 2022

“Canadians are feeling the pain of soaring gas prices and high taxes are making things worse,” said Franco Terrazzano, Federal Director of the CTF.

Alberta filing trade challenge to Biden’s Keystone XL cancellation

Feb 9, 2022

“A legacy claim is the best avenue to recover the government’s investment in the Keystone XL project,” said Energy Minister Sonya Savage.

Fortune Minerals to purchase JFSL facility for $5.5 million to build cobalt refinery

Jan 25, 2022

Fortune Minerals’ proposed refinery will process concentrate for lithium-ion rechargeable batteries for electric vehicles, portable electronic devices, and stationary storage cells.

IEA recognizes Canadian oil industry as the environmental world leader

Updated Apr 21, 2022

In 2018, oil and gas companies also invested $3.6 billion in environmental protection initiatives, recognized by the IEA as by far the largest environmental protection spend of any industry in the country.

Oil price jump prompts additional $6 billion in investments

Updated Apr 21, 2022

Oilsand investments alone are expected to increase to $11.6 billion in 2022, a 33% jump.

Energy report tells feds to incentivize moves away from oil

Updated Apr 21, 2022

The IEA calls for the Canadian government to creating transparent changes to the oil and gas industry but incentivizing technology changes and creating emergency oil stocks.

O’Toole mocks Guilbeault’s two-year fossil fuel plan

Updated Apr 21, 2022

Full implementation of this ethanol use would create a 60% increase in heating a home, according to the advocacy group Canadians for Affordable Energy.

Energy report says fossil fuel usage set to plunge in Canada

Updated May 3, 2022

The news was met with glee from Canada’s Environment Minister Steven Guilbeault.