Fix Ontario’s disastrous power strategy

By subsidizing wind and solar power, the government put its green agenda ahead of Ontarians

Fix Ontario’s disastrous power strategyThere is still much work to be done on behalf of Ontario’s energy consumers and taxpayers. In 2005, I released a study called Pain Without Gain with two co-authors (University of Guelph professor Ross McKitrick and air quality analyst Joel Schwartz). The subtitle of the piece was that shutting down coal-fired power plants would hurt Ontario.…

Canadian oil production on the rise

StatsCan says crude oil production totalled 20.7 million cubic metres in July, up 7.6% from a year earlier

Canadian oil production on the riseCanada produced 22.5 million cubic metres (141.4 million barrels) of crude oil and equivalent products in July, up 8.1 per cent compared with the same month in 2017, says Statistics Canada. “The rise in production of crude oil and equivalent products in July was primarily attributable to a 15.2 per cent increase in non-upgraded crude…

Parkland Fuel Corp. buying 75% of SOL for $1.57 billion

The largest independent fuel marketer in the Caribbean supplies 4.8 billion litres of fuel annually across 23 countries

Parkland Fuel Corp. buying 75% of SOL for $1.57 billionAlberta-based Parkland Fuel Corp. is buying 75 per cent of SOL, the largest independent fuel marketer in the Caribbean, in a deal worth about $1.57 billion. Parkland is Canada's largest and one of North America's fastest growing independent marketers of fuel and petroleum products and a leading convenience store operator. SOL, a privately-held company owned…

Trans Mountain mired in hopeless consultations and useless studies

The court decision against the pipeline veered away from objective legal analysis into opinions designed to justify preconceived biases

Trans Mountain mired in hopeless consultations and useless studiesFor the second time in two years, three judges with the Federal Court of Appeal struck down a crucially important oil export pipeline project that had undergone years of regulatory review. The approval of Northern Gateway by the former federal government of Conservative Stephen Harper was struck down in 2016. That was after Enbridge spent…

Precision Drilling buying Trinidad Drilling in a $1-billion deal

It will have a North American fleet that includes over 200 active rigs and 322 total rigs

Precision Drilling buying Trinidad Drilling in a $1-billion dealPrecision Drilling Corp. announced on Friday that it is buying Trinidad Drilling Ltd. in a deal worth about $1.028 billion. It said the deal also includes the assumption of about $477 million in Trinidad net debt. Upon completion of the transaction, existing holders of Trinidad shares will collectively own about 29 per cent of Precision.…

Encana selling San Juan assets for US$480 million

The company said it intends to ‘deliver strong growth and generate free cash flow’

Encana selling San Juan assets for US$480 millionCalgary-based Encana Corp. announced on Monday that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., has reached an agreement to sell its San Juan assets in New Mexico for US$480 million to Denver-based DJR Energy LLC. “This transaction is consistent with our strategy and our objective of delivering quality returns to our shareholders. It…

Husky Energy makes multibillion-dollar bid for MEG Energy

Offer being taken directly to MEG shareholders, Husky says

Husky Energy makes multibillion-dollar bid for MEG EnergyCalgary-based energy giant Husky Energy Inc. announced on Sunday a proposal to acquire all of the outstanding shares of MEG Energy Corp. for implied total equity consideration of approximately $3.3 billion, it said. In a news release, the company said the proposal values MEG at an implied total enterprise value of $6.4 billion, including the…

The magic carbon dividend plan is too good to be true

A Clean Prosperity report says Canadian households will be better off with such a plan. Looking at all the evidence suggests otherwise

The magic carbon dividend plan is too good to be trueWill households be better off under a carbon tax and dividend plan? A new report from Canadians for Clean Prosperity, a pro-carbon pricing advocacy group, claims they will, based on an analysis by David Sawyer of Enviroeconomics.org. It suggests that across income levels and provinces, households will pay less in carbon taxes than they receive…

Groundhog Day, Trans Mountain pipeline style

Once again, the National Energy Board will review the contentious project. It's paralysis by analysis

Groundhog Day, Trans Mountain pipeline styleOn Groundhog Day on Feb. 2, Punxsutawney Phil in the United States and Wiarton Willie in Canada ceremonially emerge from their dens. If they see their shadows (meaning it’s a sunny day), they return to their dens for an additional six weeks of winter. And who can forget the classic movie Groundhog Day? Bill Murray…

NEB announces next steps in Trans Mountain review

The federal regulator must complete the reconsideration process and issue its report no later than Feb. 22, 2019

NEB announces next steps in Trans Mountain reviewThe National Energy Board, an independent federal regulator for several parts of Canada's energy industry, announced Wednesday it will hold a public hearing to carry out its reconsideration related to the Trans Mountain pipeline expansion project. “The NEB will carry out its reconsideration related to the Trans Mountain expansion project as directed by the order…

Natural resources key driver of Canadian economy

Natural resource activity was $243.5 billion in the second quarter, which accounted for 11.7% of Canada's GDP

Natural resources key driver of Canadian economyNatural resources are a key component of the overall Canadian economy and when that sector is heading in a positive direction you know it’s good news for the country. Statistics Canada revealed Wednesday that Real GDP, or the volume of economic activity from natural resources, rose 1.8 per cent in the second quarter of this…

Canadian oil and gas extraction industry revenue up

Royalty payments totalled $6.6 billion in 2017, up 56.7% from $4.2 billion in 2016

Canadian oil and gas extraction industry revenue upThere was some good news for the Canadian oil and gas extraction industry in 2017 after being hit hard following the collapse of oil prices in late 2014. Statistics Canada reported on Monday that total revenue for the industry increased 34.9 per cent to $118.5 billion in 2017, following a 10.9 per cent decline in…

U of C’s Haskayne School of Business helping energy startups

Twenty-five ventures to be selected for the launch of the Creative Destruction Lab Energy program

U of C’s Haskayne School of Business helping energy startupsThe University of Calgary’s Haskayne School of Business is launching a new program to help early-stage energy ventures bring their technologies to the market. This weekend, the school’s Creative Destruction Lab (CDL) Rockies will select a group of 25 ventures for the program’s launch of CDL Energy. “Calgary is already known for its pioneers and…

The Liberal government’s tax plan a failure

Politicians treat successful Canadians as natural resources to be annually harvested and squeezed for as much money as possible

The Liberal government’s tax plan a failureA few years ago, the federal Liberals told Canadians that they would help the middle class by raising taxes on the rich. According to the early evidence, the plan has flopped. This was entirely predictable. In 2015, the C.D. Howe Institute (formerly chaired by the current federal finance minister) called the policy a “losing proposition.”…

Building lasting stability in the western Canadian economy

My advice for Western Economic Diversification Canada as it builds a 10-year strategy for growth

Building lasting stability in the western Canadian economyWestern Economic Diversification Canada is working on a 10-year strategy to make the four western provinces competitive, innovative and inclusive, attracting business and investment and generating good jobs. To build the strategy, they’re seeking answers to the five questions below. Here are my thoughts on those questions: What does a stronger western Canadian economy look…
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