New technology will make carbon tax obsolete

The free-market system, human ingenuity and investors and entrepreneurs seeking profits brought these ideas forth

New technology will make carbon tax obsoleteThe Canadian political scene has been riven and toxified by Ottawa’s plans to impose a tax on greenhouse gas emissions on all provinces lacking such a levy. The ostensible goal is to reduce the use of fossil fuels, and thus emit less carbon dioxide (CO2) and methane (CH4, the main component of natural gas and…

Suncor Energy net loss hits $280 million in quarter

Total oil sands production hit a new quarterly record of 740,800 barrels per day

Suncor Energy net loss hits $280 million in quarterCalgary-based Suncor Energy reported a net loss of $280 million in its fourth quarter of 2018 compared with net earnings of $1.382 billion for the same quarter in 2017. In a news release, the energy giant said the decrease “was primarily a result of unfavourable western Canadian crude oil differentials, including a substantial widening of…

Calgary-based company develops innovative LNG technology

Refrigeration technology is also suitable for other gas processing applications, company says

Calgary-based company develops innovative LNG technologyA Calgary-based technology company has developed an innovative, robust and scalable refrigeration/liquefaction technology for the liquefied natural gas (LNG) industry. PTX Technologies Inc. says it’s focused on identifying, evaluating and developing commercial projects that can employ its innovative refrigeration technology to reduce capital, operating costs and improve overall project economics. Colin Nikiforuk, president and CEO…

Imperial Oil net income surpasses $2.1 billion in 2018

Company returned more than $2.5 billion to shareholders through an increased share purchase program

Imperial Oil net income surpasses $2.1 billion in 2018Calgary energy giant Imperial Oil reported on Friday impressive fourth-quarter and full-year earnings for 2018, as well as record annual gross production at the Kearl oil sands project of 206,000 barrels per day. In a news release, Imperial said its net income for the year of $2.134 billion was up $1.824 billion from 2017. Its…

Canadian economy edges down in November

Conventional oil and gas extraction was down 2.2% as both crude petroleum and natural gas activity decreased

Canadian economy edges down in NovemberReal gross domestic product in Canada edged down 0.1 per cent in November, partly offsetting an increase of 0.3 per cent in October, reported Statistics Canada on Thursday. “Decreases in wholesale trade, finance and insurance, manufacturing and construction more than offset gains in 13 of 20 industrial sectors. Goods-producing industries were down 0.3 per cent,…

Gathering forces hope to form a unified pro-LNG front

Group’s focus is on what LNG means to the Canadian economy and to the overarching national interest

Gathering forces hope to form a unified pro-LNG frontIt may seem like an impossible challenge to crowdsource a narrative about building a better future for Canadians and their energy sector. A diverse group has set out to create a compelling and co-ordinated narrative around Canada’s global liquefied natural gas (LNG) opportunities. At a recent Calgary meeting, a diverse group of stakeholders agreed it’s critical to…

Oil and gas the backbone of the Canadian economy

Oil and gas contributed some $117 billion to Canada’s GDP last year, six times the economic contribution of the Ontario auto industry

Oil and gas the backbone of the Canadian economyWhat was Canada’s biggest business news story of 2018? According to the pundits at The Canadian Press, it wasn’t the giveaway of Canadian oil to Americans for tens of billions of dollars below world prices, caused by a lack of pipelines from Alberta. It wasn’t the loss of tens of billions more in oil and…

Canadian natural resource sector economic activity on the rise

The mineral and mining subsector drove the increase, led by potash

Canadian natural resource sector economic activity on the riseThe natural resource sector, including energy, saw the volume of economic activity grow in the third quarter of 2018, according to Statistics Canada. The federal agency reported Thursday that real gross domestic product in the natural resource sector rose by one per cent in the quarter following a 1.4 per cent increase in the second…

Will Canada break up over carbon dioxide?

The federal government and oil-and-gas producing provinces are on a collision course and Alberta may well quit Confederation

Will Canada break up over carbon dioxide?Countries have broken up for very serious reasons: slavery, religion and ethnic tensions, for example. But no country has ever been at risk of breaking up because of a harmless gas like carbon dioxide. Canada could, thanks to an ideologically-driven federal government. Carbon dioxide makes up a tiny portion (.04 per cent) of our atmosphere…

Alberta leads the way in crude oil production increase

Statistics Canada said exports of crude oil and equivalent products increased 10.7% from the same month a year earlier

Alberta leads the way in crude oil production increaseCanada produced 23.1 million cubic metres (145.6 million barrels) of crude oil and equivalent products in October, up 13.2 per cent from the same month a year earlier, according to Statistics Canada. The federal agency said on Friday that Alberta produced 19.3 million cubic metres of crude oil and equivalent products in October, an increase…
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