As the urban centre at the heart of Canada’s oilsands industry, Fort McMurray has seen more than its share of ups and downs. A decade and a half ago, the northern Alberta community was this country’s most famous boom town. High oil prices helped to drive unprecedented demand for the thick, viscous bitumen that lies … Read more
In her budget speech to the House of Commons on Tuesday, Finance Minister Chrystia Freeland took a moment to celebrate the finishing touch on expansion of the Trans Mountain oil pipeline. The controversial project has been plagued by delays and massive cost overruns, but Freeland instead focused on its completion, highlighting the: “talented tradespeople and the brilliant … Read more
Despite growing frustrations and prolonged negotiations with the federal government, a consortium of Canada’s largest oilsands companies is optimistic about having a “line of sight” in securing the certainty it needs from Ottawa to advance its proposed $16.5-billion carbon capture pipeline project. The Pathways Alliance is not expecting any new commitments in the upcoming federal … Read more
Trans Mountain’s announcement that its expanded oil pipeline would start commercial operations on May 1 has surprised analysts with an earlier-than-expected commencement on the long-delayed $34 billion project. The federal government-owned company set the date late on Wednesday, having previously said startup would happen in the second quarter. Canada is the fourth-largest oil producer but output has been … Read more
British Columbia grain farmer Malcolm Odermatt says all he can do is pray for rain this spring after repeated droughts sabotaged his harvest last year. Odermatt, who is also the president of the B.C. Grain Growers Association, has been working with his father since 2012 to farm about 2,000 acres of land in the Peace … Read more
Netflix took a big step into live events on Tuesday with a more than $6.7 billion ($5 billion US) deal that would make it the exclusive home of World Wrestling Entertainment’s Raw from January 2025 onward. The 10-year partnership will put Raw on the streaming platform in the U.S., Canada, United Kingdom and Latin America, among other territories, the companies said. Outside … Read more
CEO pay in the oil and gas sector has soared with the industry’s post-pandemic resurgence and will likely increase even more with the completion of the Trans Mountain pipeline expansion this year, a new report projects. The report released Wednesday by the Bedford Consulting Group looked at C-Suite salaries, bonuses and other forms of executive … Read more
With the COP28 climate summit now in the rearview mirror, some researchers say the moment is here when coal consumption in power plants around the world will finally peak before beginning a perpetual fall. For more than a century, coal has been used to produce electricity, and to this day remains the workhorse of the global power … Read more
A key Flair Airlines investor says a $30-million lawsuit filed against it by plane-leasing firms over claims of missed payments is “premature at best.” Miami-based 777 Partners, which owns one-quarter of Flair, confirmed that three lessors of aircraft that were repossessed from the budget carrier last spring filed their claim in London in December over … Read more
To the untrained eye, the collection of pipes and structures rising out of the prairie 200 kilometres east of Calgary looks like any other natural gas processing plant in southern Alberta. But the Steveville plant isn’t focused on extracting hydrocarbons. Instead, the prize it’s seeking deep underground is helium. The element is most commonly associated with … Read more
