Who said what about the Liberals’ decision to go ahead with Trans Mountain

Who said what about the Liberals’ decision to go ahead with Trans Mountain
OTTAWA — There was swift reaction Tuesday to the decision by the Trudeau Liberals to give the go-ahead to the Trans Mountain oil pipeline expansion. Here is what federal, provincial and Indigenous leaders, as well various groups had to say: “Fundamentally, this isn’t a choice between producing more conventional energy or less. It’s a choice about where we can sell it... Read More

Business leaders welcome pipeline approval but fear it may not be completed

Business leaders welcome pipeline approval but fear it may not be completed
CALGARY — Business leaders say they are pleased with news that Ottawa has re-approved the Trans Mountain pipeline expansion but will hold off on popping champagne corks until construction begins on new pipe from Edmonton to the West Coast. Jack Mintz, tax policy and economics expert at the University of Calgary’s School of Public Policy, says the approval of a... Read More

Oil and gas sector cautious as clock ticks down to Trans Mountain decision

Oil and gas sector cautious as clock ticks down to Trans Mountain decision
CALGARY — Observers on the front lines of Western Canada’s oil and gas sector are looking forward to what’s widely expected to be approval of the Trans Mountain pipeline expansion on Tuesday while acknowledging the decision by Ottawa won’t solve all problems. CEO Clayton Byrt of Pimee Well Servicing LP, a service rig company owned by six northern Alberta First... Read More

Energy sector helps lead the way up on TSX, U.S. stock also gain ground

Energy sector helps lead the way up on TSX, U.S. stock also gain ground
TORONTO — The energy sector helped lead a broad-based support for stocks as Canada’s main stock index moved higher in late-morning trading while U.S. stocks also increased. The S&P/TSX composite index was up 43.03 points at 16,344.94. In New York, the Dow Jones industrial average was up 69.09 points at 26,158.70. The S&P 500 index was up 8.89 points at... Read More

GMP Capital selling capital markets business to U.S. firm Stifel Financial

GMP Capital selling capital markets business to U.S. firm Stifel Financial
TORONTO — GMP Capital Inc. has signed a deal to sell the bulk of its capital markets business to Stifel Financial Corp. in a deal worth roughly $70 million. Under the deal, Stifel, which is based in St. Louis, Missouri will pay the tangible book value of the business, less cash, plus $45 million. The Toronto-based financial services firm says it plans to make... Read More

Energy and materials sectors help lift TSX, U.S. stock markets down

Energy and materials sectors help lift TSX, U.S. stock markets down
TORONTO — Canada’s main stock index edged higher in late-morning trading, helped by the energy and materials sectors, while U.S. stocks were down. The S&P/TSX composite index was up 3.97 points at 16,243.23. In New York, the Dow Jones industrial average was down 77.29 points at 26,029.48. The S&P 500 index was down 10.33 points at 2,881.31, while the Nasdaq... Read More

To hit environment goals, feds should create ‘super’ tax credit, report says

To hit environment goals, feds should create ‘super’ tax credit, report says
OTTAWA — A government-struck expert panel is calling for new “super-deduction” tax credits as a carrot for Canadians to park their retirement savings in climate-conscious investments. The report this morning to Finance Minister Bill Morneau says the government should let people deduct more than 100 per cent of retirement contributions they put into investments such as bonds that help reduce greenhouse-gas emissions. The panel expects the... Read More

Tankers targeted near Strait of Hormuz amid Iran-US tensions

Tankers targeted near Strait of Hormuz amid Iran-US tensions
DUBAI, United Arab Emirates — Two oil tankers near the strategic Strait of Hormuz were damaged in suspected attacks on Thursday, leaving one ablaze and the other adrift and forcing sailors to evacuate in the latest mysterious incident involving tankers amid heightened tensions between the U.S and Iran. The U.S. Navy, which rushed in to assist the stricken vessels, and... Read More

Thousands hear anti-Ottawa messages at pro-pipeline rally in Calgary

Thousands hear anti-Ottawa messages at pro-pipeline rally in Calgary
CALGARY — Anger was on full display under the hot spring sun as thousands of oil and gas industry supporters gathered on the Calgary Stampede grounds to hear speakers take turns blasting the federal Liberal government for policies they blame for the sector’s low level of activity and investment. Organizers estimate 4,000 people, many wearing black T-shirts reading “The world needs more Canadian energy,”... Read More

Crude-by-rail shipments from Western Canada rise by 34,000 bpd in May

Crude-by-rail shipments from Western Canada rise by 34,000 bpd in May
CALGARY — Genscape says crude-by-rail shipments from Western Canada continued to rise in May after falling in February to a nine-month low. The U.S. company, which monitors western Canadian rail terminals handling about 80 per cent of typical volumes, reports average rail loadings in May were 231,000 barrels per day, up 34,000 bpd from April. In February, Genscape reported 144,000 bpd... Read More