Canada’s biofuel industry is welcoming a proposed multi-billion dollar package of financial support from the federal government, although concerns remain about whether it will be enough to compete with lucrative subsidies south of the border and reverse the growing dependence on U.S. imports to meet clean fuel regulations. The federal government is committing $1.27 billion toward … Read more
Canada’s inflation rate went up slightly in March compared to February, with Statistics Canada pointing out gasoline prices are partly behind the increase. The federal agency’s consumer price index for March 2024 saw a 2.9 per cent increase compared to the year before. In February, that measure was at 2.8 per cent, so while March saw an … Read more
Prime Minister Justin Trudeau should convene an emergency meeting with the country’s premiers to discuss the federal carbon price, Conservative Pierre Poilievre wrote in a letter Tuesday. Poilievre circulated the letter following the $15-per-tonne increase to the consumer carbon price that kicked in on Monday. The scheduled increase added about 3.3 cents to the carbon … Read more
The Biden administration on Wednesday slashed its target for U.S. electric vehicle adoption from 67 per cent by 2032 to as little as 35 per cent after industry and autoworker backlash in the political battleground state of Michigan. The Environmental Protection Agency (EPA) instead adopted a “technology neutral” regulatory scheme that allows automakers far more freedom … Read more
U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that could delay an anticipated June interest rate cut from the Federal Reserve. The consumer price index (CPI) rose 0.4 per cent last month after climbing 0.3 per cent in January, the Labour Department’s Bureau of Labour Statistics … Read more
Canada’s annual inflation rate slowed to 2.9 per cent in January, mostly due to a deceleration in the price of gas, Statistics Canada said Tuesday. Economists were expecting the rate to come in at 3.3 per cent. Gas prices fell four per cent year over year in January after driving headline inflation up to 3.4 per cent in December, due to … Read more
The state of Colorado is fining Suncor Energy Inc. $10.5 million US for air pollution violations. In a news release, the Colorado Department of Public Health and Environment says the fine concerning Suncor’s Commerce City refinery is for violations from July 2019 through June 2021. The department also says the Calgary-based energy company must double … Read more
Canada’s annual inflation rate jumped to 3.4 per cent in December, according to data released by Statistics Canada on Tuesday. That’s after both October and November saw inflation hold steady at 3.1 per cent compared to the previous year. StatsCan said that the price of gasoline, air travel, passenger vehicles and rent drove the figure higher in December. Food … Read more
Rental firm Hertz Global Holdings said on Thursday it would sell about 20,000 electric vehicles, including Teslas, from its U.S. fleet due to higher expenses related to collision and damage, and will opt for gas-powered vehicles. Shares of the rental company, which also operates vehicles from Swedish EV maker Polestar among others, fell about four per cent. Tesla’s stock was down about … Read more
The price of gas is falling across America. Now that the new year is underway, the national average price for a gallon of regular gas was at $3.09 this week, according to AAA. But that average takes into account the high prices that folks in California, Hawaii and Washington are paying. Meanwhile, most people in … Read more
