Today's resignation of Canada's finance minister, Bill Morneau, has been the talk of the chattering classes in Ottawa and Toronto.
But here in southwestern B.C., he'll always be remembered as the man who forced an economically absurd pipeline on residents of this region, including the Coast Salish peoples.
July 31, 2020 - French colossal fossil Total sent a shockwave through the Alberta oilpatch Wednesday with the announcement that it is writing off C$9.3 billion in assets in the tar sands/oil sands, including $7.3 billion in the Fort Hills mine, which opened just 2½ years ago, and the Surmont thermal oilsands project.
Frankfurt-based Deutsche Bank is joining a lengthening list of European lenders and insurance companies that say they won't back new oilsands projects.
The German bank said Monday its new fossil fuels policy will also prohibit investing in projects that use hydraulic fracturing or fracking in countries with scarce water supplies, and all new oil and gas projects in the Arctic region.
A great, narrated picture/video tour of the TMX construction sites from Burnaby north.Trans Mountain Construction Update July 2020
Trans Mountain has got lots of sticks in the ground, but not a whole lot of pipe. Let’s try and keep it that way. Climate Campaigner Peter McCartney recently took a trip along the pipeline route for this construction update.
First Nations were seeking to challenge federal government's re-approval of pipeline expansion project
The Supreme Court of Canada will not allow an appeal from a group of First Nations in B.C. looking to challenge the federal government's second approval of the Trans Mountain pipeline expansion project.
Documents obtained by The Narwhal reveal Canada Action, an organization that promotes the natural resources industries while criticizing the environmental movement, receives funding from the oil and gas sector
The Canadian fossil-fuel sector and its political allies, including Alberta premier Jason Kenney, repeatedly drive home the point that Canadian environmental groups receive foreign funding.
But some of these same groups have turned the tables on the industry with a new report showing that foreign-controlled operational profit from the Canadian oilsands nearly doubled from 2012 to 2016 to 58.4 percent.
Late last week, Bloomberg reported that a US$320-billion Saudi wealth fund controlled by Crown Prince Mohammed bin Salman had snapped up shares in Canadian Natural Resources Ltd. and Suncor Energy, becoming CNRL’s eighth-largest and Suncor’s 14th-largest owner. The fund made its move after CNRL’s shares lost 43% of their value this year, and Suncor’s dropped 46%, compared to a 15% decline across the Standard & Poors/Toronto Stock Exchange Composite Index.
COVID-19 is making many bearish about bitumen. Deborah Lawrence’s past pessimism has proven unpopular, and correct.
Geoff Dembicki reports for The Tyee. His work also appears in Vice, Foreign Policy and the New York Times.
Deborah Lawrence used to be a stockbroker with Merrill Lynch. Over the past decade, the independent economic analyst has developed a reputation for telling oil investors what they don’t want to hear.
