B.C. brings in tax credit to help spur liquefied natural gas investment

B.C. brings in tax credit to help spur liquefied natural gas investment
VICTORIA — British Columbia is changing the province’s tax structure for liquefied natural gas projects with Finance Minister Carole James saying the government is aiming to encourage more development through a natural gas tax credit. James introduced legislation Monday that she said meets the objectives set out a year ago by Premier John Horgan in a policy framework. “British Columbians are counting... Read More

Morneau unveils principles for Indigenous ownership in Trans Mountain pipeline

Morneau unveils principles for Indigenous ownership in Trans Mountain pipeline
CALGARY — Finance Minister Bill Morneau says the government remains committed to putting the Trans Mountain pipeline and its proposed expansion back in private hands as he unveiled four principles for including Indigenous groups in those discussions. But he says timing and details of the sale of the pipeline depends on when it is “de-risked” and therefore can’t be determined... Read More

Canadian oilfield services firms bringing in more revenue from U.S. operations

Canadian oilfield services firms bringing in more revenue from U.S. operations
CALGARY — Analysts say Canadian oilfield services companies with operations in the U.S. are now earning more of their revenue south of the border than they have for at least six years. In a report, AltaCorp Capital says that trend is expected to continue as ongoing oil and gas spending weakness in Canada is balanced against steady activity in the United States. The analysts... Read More

Navajo Nation company ends bid to buy power plant, mine

Navajo Nation company ends bid to buy power plant, mine
ALBUQUERQUE, N.M. — One of the largest coal-fired power plants in the West will close this year as planned after a Navajo Nation company ended its long-shot bid Friday to acquire it. The Navajo Generating Station has operated for decades in northeastern Arizona near the Utah border, providing a hefty chunk of revenue to the Navajo Nation. Both the Navajo... Read More

Crude-by-rail exports fall in January as Alberta started production cuts

Crude-by-rail exports fall in January as Alberta started production cuts
CALGARY — The National Energy Board says crude-by-rail exports in January fell compared with December, but remained more than twice as high as 12 months earlier. The federal agency reports an average of 325,500 barrels per day of oil was exported by rail in January, down from 353,800 bpd in December but well above 145,700 bpd in January 2018. It... Read More

Toronto stock market resumes upward move while U.S. markets surge

Toronto stock market resumes upward move while U.S. markets surge
TORONTO — Canada’s main stock index resumed its upward trajectory as investors responded to the Federal Reserve’s dovish outlook from Wednesday and supportive economic data at home. The S&P/TSX composite index closed up 77.03 points to 16,244.59. In New York, the Dow Jones industrial average was up 216.84 points at 25,962.51. The S&P 500 index was up 30.65 points at... Read More

Toronto and U.S. stock markets up, loonie slides lower against U.S.

Toronto and U.S. stock markets up, loonie slides lower against U.S.
TORONTO — The industrials sector helped boost Canada’s main stock index higher in late-morning trading, while U.S. stock markets also surged higher. The S&P/TSX composite index was up 44.14 points at 16,211.70. In New York, the Dow Jones industrial average was up 145.15 points at 25,890.82. The S&P 500 index was up 17.30 points at 2,841.53, while the Nasdaq composite... Read More

Notley, Kenney outline starkly different visions at Lethbridge rallies

Notley, Kenney outline starkly different visions at Lethbridge rallies
LETHBRIDGE, Alta. — Premier Rachel Notley and United Conservative leader Jason Kenney both spoke to crowds in Lethbridge last night with a common message — voters will have a stark choice on election day. Notley urged cheering supporters to re-elect an NDP government on April 16, warning that only her team will fight to protect public health care and ensure that all people... Read More

Cleanup underway after fire at Texas petrochemicals facility

Cleanup underway after fire at Texas petrochemicals facility
HOUSTON — Crews on Wednesday extinguished a fire that had burned for days at a Houston-area petrochemicals storage facility and led to concerns about air quality among some residents and environmental groups despite reassurances from officials that testing shows nothing amiss. Intercontinental Terminals Company spokeswoman Alice Richardson said at a news conference Wednesday that crews were cleaning up the facility... Read More

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