27 November

When it set out to expand the Trans Mountain pipeline, Kinder Morgan knew it faced serious marine transport safety hurdles. In February 2013, Kinder Morgan Canada president, Ian Anderson told the National Energy Board that, “One of the greatest challenges I believe in providing British Columbians with the confidence and trust will be confidence and […]

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27 November

The price of WTI has dropped to its lowest level in more than a year. (Robson Fletcher/CBC) The price of a barrel of the most common blend of U.S. oil fell to its lowest level in more than a year, as fears of a global supply glut came roaring back to life. A barrel of […]

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27 November

Alberta Premier Rachel Notley is aggressively advancing a false narrative about heavy oil’s deep discount. She presents the problem in two parts, neither of which stand up to scrutiny. First, Notley purports that the abnormally wide price spread affects every barrel of heavy oil leading to millions of dollars a day in losses to the […]

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27 November

The Canadian dollar edged higher against its U.S. counterpart on Thursday as the greenback broadly fell and Canada’s government weighed a proposal which could help soften the blow from price discounts on heavy crude generated by pipeline congestion. At 9:57 a.m., the Canadian dollar was 0.1 per cent higher at 1.3225 to the greenback, or […]

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27 November

Pumpjacks at work pumping crude oil. (Larry MacDougal/Canadian Press) Alberta’s "ongoing and acute" issues with getting crude to market pose an "extraordinary" challenge for the province’s energy sector, says a new report from Scotiabank Economics. But it says the provincial government must set a "high" bar for intervening directly in the energy sector, adding it […]

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27 November

With the rise of niche ETFs, there is seemingly an exchange-traded fund for everything. That includes an ETF for Western Canadian Select, the heavy-oil benchmark that made headlines last week when it tumbled to less than US$14 a barrel. Not surprisingly, the Canadian Crude Index ETF (CCX-T) has plummeted in tandem. Created in 2015 by […]

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27 November

TORONTO — Canada’s main stock index closed slightly lower on a very quiet day of trading Thursday even though the key energy sector rose despite a slide in the price of oil. The S&P/TSX composite lost 3.44 points to 15,091.58 with just 83.3 million shares traded. The January crude contract was down 78 cents US […]

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27 November

The Canadian dollar strengthened against its U.S. counterpart on Wednesday, as a rebound in oil prices and stocks offset domestic data showing a surprise decline in wholesale trade for September. At 2:31 p.m. ET (1931 GMT), the Canadian dollar was trading 0.5 per cent higher at 1.3247 to the greenback, or 75.49 U.S. cents. The […]

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26 November

The Canadian dollar strengthened against its U.S. counterpart on Monday, paring some of last week’s decline, as oil prices and stocks rallied. Stocks were boosted by robust sales in the holiday season, after a steep selloff on Wall Street in the previous session. Canada exports many commodities, including oil, and runs a current account deficit, […]

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26 November

Finance Minister Bill Morneau. Image: Canadian Club of Toronto (Bloomberg) — Canadian Finance Minister Bill Morneau is signalling he won’t cough up money for new rail cars to ship Alberta oil, saying it would take months and wouldn’t solve the current price collapse. Morneau, in an interview with “The West Block” on Global News that […]

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