Oil by Rail

13/04/23
Author: 
John Woodside
Canadian banks are overwhelmingly financing the oilsands as foreign banks divest from the region. Photo by Andrew S. Wright

Apr. 13, 2023

Despite pledging to reach net-zero greenhouse gas emissions, Canada’s Big 5 banks have invested over $1 trillion in coal, oil and gas companies since 2016, upping the risk to the Canadian economy as the energy transition unfolds.

26/04/22
Author: 
Amanda Follett Hosgood
Vopak Canada has a 30 per cent stake in a propane export facility on Ridley Island and has won BC government approval for another project. Photo via Prince Rupert Port Authority.

Apr. 26, 2022

Ministers responsible for energy and environment refer First Nations’ concerns to industry, feds.

The province has approved a fossil fuel storage and shipping facility on B.C.’s north coast despite opposition from First Nations and the potential for “significant” adverse effects in the event of a spill.

The Ministry of Environment and Climate Change announced the decision last week to grant an environmental assessment certificate to Vopak Development Canada Inc., a subsidiary of the Netherlands-based Royal Vopak.

12/04/22
Author: 
Oliver Milman
The record increases in methane suggest it is being leaked from oil and gas drilling operations. Photo by Kurayba/Flickr (CC BY-SA 2.0)

Apr. 12, 2022

This story was originally published by The Guardian and appears here as part of the Climate Desk collaboration.

20/01/22
Author: 
John Woodside
The official launch of the Boundary Dam carbon capture and storage facility in Estevan in 2014. Photo via SaskPower / Flickr (CC BY-NC-SA 2.0)

Jan. 20, 2022

Leading climate scientists and academics are calling on the federal government to abandon a proposed tax credit that gives big polluters a break for investing in carbon capture technology.

The experts say the planned carbon capture utilization and storage (CCUS) tax credit will lock in fossil fuel use and risk ruining Canada’s chances of meeting emission reduction goals.

14/11/21
Author: 
Alex Ballingall
Steven Guilbeault
Tue., Nov. 9, 2021
 

OTTAWA—Canada’s pledge to stop financing fossil fuel projects abroad doesn’t go far enough because it could still allow the government to support oil and gas production in other countries, environmentalists say.

06/10/21
Author: 
Andru McCracken & Laura Keil
Chart summarizing delays in completion of each stage of construction across the different spreads (segments) of the pipeline route. Based on analysis by West Coast Environmental Law.

Oct. 3, 2021

According to a new 28-page report by West Coast Environmental Law, the Trans Mountain Expansion Project is going to be delivered late and over budget.

Eugene Kung, a lawyer for West Coast Environmental Law helped assemble the report called: Trans Mountain: Delays into 2023 will add millions to public cost, which can be viewed here: tinyurl.com/TMX-delay

03/06/21
Author: 
The Canadian Press
Oil pipes

June 3, 2021

CALGARY — An insurance provider for the Trans Mountain pipeline said it will not renew its policy with the company when it expires in August.

Argo Group International Holdings Ltd., an international underwriter based in Bermuda, said the project no longer fits the company's risk appetite. 

"We currently insure the Trans Mountain pipeline, but do not intend to renew when the policy expires in August 2021," spokesman David Snowden said. 

"This type of project is not currently within Argo's risk appetite."

01/06/21
Author: 
Canadian Centre for Policy Alternatives
Report cover
JUNE 1, 2021

VANCOUVER - A stark change in direction is needed if Canada is to meet its emissions-reduction targets, says a new report by veteran earth scientist David Hughes. 

Going into the G7 Summit later this month, Canada and the US are the only G7 countries that have not reduced emissions since signing the 2016 Paris Accord. In fact, Canada has shown the greatest emissions increase during this time. 

18/05/21
Author: 
Emma Graney

MAY 18, 2021

Investment in any new oil and gas developments must stop immediately, electricity should be 90 per cent renewable by 2050 and governments must “close the gap between rhetoric and action” if the world is to meet its goal of net-zero emissions and limit the worst impacts of climate change, according to a new report by the International Energy Agency.

28/02/21
Author: 
Emma Graney

* "ESG investing is the consideration. of environmental, social and governance factors alongside financial factors in the investment decision–making process.”

FEBRUARY 25, 2021

Alberta will establish an office to promote the oil industry’s environmental, social and governance measures in the hope it can help stem the tide of divestment from the oil sands and the Canadian energy sector, as the province tries to climb out of the $18.2-billion deficit projected in its 2021 budget on Thursday.

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