Carbon tax, oil and gas investment dominate Day 2 of Alberta campaign

Carbon tax, oil and gas investment dominate Day 2 of Alberta campaign
LETHBRIDGE, Alta. — The leader of Alberta’s United Conservatives spent his second day on the campaign trail attacking the NDP government’s carbon tax. Jason Kenney reiterated his vow to make repealing the tax his government’s first order of business if he is elected premier on April 16. Speaking at an iron works company in Lethbridge, Kenney said nixing the tax... Read More

Notley kicks off election Day 2 with vow to add value to Alberta’s oil and gas

Notley kicks off election Day 2 with vow to add value to Alberta’s oil and gas
EDMONTON — Alberta NDP Leader Rachel Notley has kicked off her second day of campaigning with a promise to get more value out of the province’s oil and gas products. She announced the plan at an Edmonton-based fabrication and engineering company. It aims to unlock $75 billion in investment, create 70,000 jobs and significantly increase the amount of petroleum processed in-province by 2030. Notley... Read More

Materials sector weighs on stocks in Toronto, U.S. markets trade lower

Materials sector weighs on stocks in Toronto, U.S. markets trade lower
TORONTO — Losses in the materials sector weighed on Canada’s main stock index in late-morning trading, while U.S. stock markets also moved lower. The S&P/TSX composite index was down 16.32 points at 16,171.78. In New York, the Dow Jones industrial average was down 85.17 points at 25,802.21. The S&P 500 index was down 8.78 points at 2,823.79, while the Nasdaq composite... Read More

Saskatchewan government to present first balanced budget in years

Saskatchewan government to present first balanced budget in years
REGINA — For the first time in years, the Saskatchewan Party government will present a budget that the finance minister has said is balanced. Donna Harpauer is to release the province’s 2019-2020 fiscal plan today and she’s said the government will keep its promise to return to the black. The plan to balance the books was set in motion three years ago under former premier Brad Wall... Read More

Canada’s main stock index down slightly after surging Monday

Canada’s main stock index down slightly after surging Monday
TORONTO — Canada’s main stock index was down slightly this morning following a significant gain Monday. The S&P/TSX composite index was off 19.79 points at 16,231.58 after 90 minutes of trading. The index had its highest close in nearly seven months on Monday after gaining 111.02 points. In New York, the Dow Jones industrial average was up 113.2 points at 26,027.30. The... Read More

Alberta government announces further easing of oil production restrictions

Alberta government announces further easing of oil production restrictions
EDMONTON — The Alberta government has announced another easing of restrictions on oil production, saying the amount that can be produced will increase in May by 25,000 barrels per day and another 25,000 barrels per day in June. The province mandated production cuts at the start of this year in an effort to reduce a price discount on oil produced in Western... Read More

Toronto stock market hits six-month high on rise in crude oil price

Toronto stock market hits six-month high on rise in crude oil price
TORONTO — Canada’s main stock index returned to its highest closing in nearly seven months as the price of oil surpassed US$59 per barrel for the first time since November. The S&P/TSX composite index closed up 111.02 points to 16,251.37. In New York, the Dow Jones industrial average was up 65.23 points at 25,914.10. The S&P 500 index was up 10.46 points... Read More

Energy sector helps lift Toronto market, price of oil climbs higher

Energy sector helps lift Toronto market, price of oil climbs higher
TORONTO — The energy sector helped lift Canada’s main stock index higher as the price of oil climbed higher in late-morning trading. The S&P/TSX composite index was up 52.96 points at 16,193.31. In New York, the Dow Jones industrial average was up 15.33 points at 25,864.20. The S&P 500 index was up 9.02 points at 2,831.50, while the Nasdaq composite... Read More

Getting more oil to market in Canada requires more pipelines, NEB says

Getting more oil to market in Canada requires more pipelines, NEB says
OTTAWA — The National Energy Board says Canada’s existing export pipelines are running at maximum efficiency and the only way to realistically get more oil to market on pipelines is to build more of them. The board is responding today to questions posed last fall by Natural Resources Minister Amarjeet Sohi, who wanted to know if there was any way... Read More

Imperial Oil slows development of Aspen project, cites Alberta production cuts

Imperial Oil slows development of Aspen project, cites Alberta production cuts
CALGARY — Imperial Oil Ltd. has slowed the development of a $2.6-billion oilsands project because of uncertainty due to the Alberta government’s oil production curtailment program and other challenges. First production from the Aspen in-situ project had been expected in 2022 but will now likely be delayed by at least one year, Imperial said Friday. The project was previously projected to add 75,000... Read More