Industry Spin

Imperial Oil's massive write-off suggests the era of stranded Canadian assets is already here

01/12/20

Author:

Yadullah Hussain

Link:

Dec. 1, 2020

Imperial Oil just became the most high-profile Canadian oil producer to give up on some of its fossil fuel assets in Alberta.

“Imperial has re-assessed the long-term development plans of its unconventional portfolio in Alberta, Canada and no longer plans to develop a significant portion of this portfolio,” the company said in a statement after markets closed on Monday.

The company said would take an impairment charge of about $900 million to $1.2 billion in the latest quarter.

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Category:

Offshore drilling in marine refuge guided by ‘best available science,’ regulator says

24/11/20

Author:

Carl Meyer

Link:

National Observer

An access area for offshore oil drilling in the hull of the drillship Ocean Blackrhino in 2017. U.S. Department of the Interior photo

Nov. 24, 2020

Newfoundland and Labrador’s offshore oil regulator says it expects the “best available science” will be followed when determining the environmental impact of drilling in a fragile Atlantic marine refuge.

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Managers at Tyson meat plant had betting pool on how many workers would get Covid, lawsuit alleges

22/11/20

Author:

Danielle Wiener-Bronner, CNN Business

Link:

CNN Business

November 19, 2020

New York (CNN Business)Tyson supervisors at a pork processing facility in Waterloo, Iowa took bets on how many workers would get infected with Covid-19, even as they took measures to protect themselves and denied knowledge of the spread of the illness at work, according to new allegations in a lawsuit against the company and some employees.

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Trans Mountain expansion project has been a COVID-free zone, says CEO

19/11/20

Author:

David Thurton ·

Link:

CBC News

At an annual public meeting, the government-owned project was accused of holding back information

Nov 19, 2020

Category:

Trans Mountain will be forced to re-drill under Thompson River

02/11/20

Author:

Jessica Wallace

Link:

Kamloops This Week

A Trans Mountain worksite along Mission Flats Road, where pipe from across the Thompson River at Kamloops Airport will be pulled through. Photograph By MICHAEL POTESTIO/KTW

OCTOBER 29, 2020

Trans Mountain will be re-drilling under the Thompson River, following what it called “technical challenges” encountered while installing pipe during its pipeline twinning project.

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Category:

Trans Mountain expansion hits snag, must re-start drilling beneath Thompson River in Kamloops

01/11/20

Author:

James Peters

Link:

CFJC Today

Oct 29, 2020

KAMLOOPS — Trans Mountain (TMX) has had a major setback in its expansion project through Kamloops.

The pipeline twinning includes a segment beneath the Thompson River that must be installed after Horizontal Directional Drilling (HDD) is completed.

In a statement emailed to CFJC Today, Trans Mountain says installation of the pipe in the segment beneath the river encountered “technical challenges” that require the entire HDD process to be restarted.

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Category:

Trans Mountain expansion may not be economically viable, says think tank report

30/10/20

Author:

David Thurton

Link:

CBC News

Oct 29, 2020

Workers unload pipe to start right-of-way construction for the Trans Mountain expansion project in Acheson, Alta., Dec. 3, 2019. (THE CANADIAN PRESS/Jason Franson)

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Mark Carney says smart money needs better tools to measure climate risk

28/10/20

Author:

Don Pittis

Link:

CBC News

[This article might bring some comfort if it put a timeline on WHEN such risks could be quantified and then outlined how exactly that process would lead to creating a socially just and environmentally sane transition. Will knowing the investment risks make capitalists decide to do this? Will it create effective regulatory enforcement to compel capitalists to do this? Will it do anything at all that will begin the required transition SOON ENOUGH?

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'Scale is important' Cenovus CEO says of massive deal for Husky

28/10/20

Author:

Chris Varcoe

Link:

Calgary Herald

The Bow building headquarters for Cenovus Energy was photographed on Sunday, October 25, 2020. Cenovus Energy is buying Husky Energy for $23.6 billion the companies said in a joint announcement on Sunday. PHOTO BY GAVIN YOUNG/POSTMEDIA

Oct 26, 2020

A new wave of oilpatch consolidation has been widely expected since oil prices cratered this spring, undercutting share prices and piling debt onto Canadian petroleum producers.

Some smaller deals have unfolded this fall, but Cenovus Energy’s mammoth $3.8-billion acquisition of integrated producer Husky Energy on Sunday lit the fuse on the biggest corporate takeover in Canada’s oilpatch in several years.

And there will likely be more deals to come.

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Category:

Solving the Climate Crisis - 5 areas that could make a difference

12/10/20

Author:

BofASecurities

Link:

BofASecurities

For the future of the world’s economies and the people who live in them, climate change can no longer be ignored—and investors may have a role to play.

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Category:

Capitalism

Climate Change

Industry Spin

Industry Spin

At an annual public meeting, the government-owned project was accused of holding back information

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