Economics

Canada's oil patch open for Chinese business: Flaherty
By Jorge Barrera, the Financial Post
August 10, 2009

Jim Flaherty, Canada's finance minister, speaks at the opening of a Bank of Montreal branch in Beijing, China, on Monday. Canada wants Chinese state-run entities such as China Investment Corp. to consider North American listings.

Jim Flaherty, Canada's finance minister, speaks at the opening of a Bank of Montreal branch in Beijing, China, on Monday. Canada wants Chinese state-run entities such as China Investment Corp. to consider North American listings.

Skidding oil sends Suncor into red
Investors stay focused on $22.5-billion Petro-Canada takeover
Edmonton Journal
July 23, 2009

Suncor Energy sank into the red in the second quarter as skidding oil prices, hedging losses and costs related to project deferrals marred the last reporting period before it closes its $22.5-billion takeover of Petro-Canada.

CEO Rick George said his company will move ahead with major investments after the takeover, and jettison assets by focusing on projects that offer the lowest risk, highest returns and near-term cash flow.

Suncor’s Edmonton refinery suffers processing problem
David Finlayson, edmontonjournal.com
Thursday, August 13, 2009
Black smoke emitted from the Suncor refinery east of Edmonton on August 12, 2009.

EDMONTON - It will take “days not hours” to get Suncor’s Edmonton refinery back to full production after a problem at its hydrogen supplier caused the shutdown of some units for the second time in a month, the company said Thursday.

Members of First Nations along the corridor being discussed have said that such "consultations" should not take place, since they have already indicated an explicit NO to pipelines, tanker traffic, ports and more. Holding these very hearings is a clear VIOLATION of indigenous sovereignty. This position deserves support.

--M

Funding offered for Northern Gateway environmental assessment
By Amelia Bellamy-Royds August 7, 2009 05:25 pm

Developers move ahead with projects
By _Keith McNeill - Clearwater Times_

Published: August 10, 2009 5:00 AM

Run-of-the-river hydro projects have become a hot issue in this province
but three such projects north of Blue River are still going ahead.
According to Canadian Hydro Developers Inc. of Calgary, the proposed Bone
Creek (20 MW), Clemina Creek (9.9 MW) and Serpentine Creek (9.5 MW)
hydroelectric projects together would generate enough to power 21,000 homes if
the homes didn't mind receiving power service only in the spring and early

New pipeline from oilsands
By THE CANADIAN PRESS
11th August 2009

CALGARY -- Inter Pipeline Fund says major construction work has wrapped up on a $1.8-billion expansion to a pipeline that links a major oilsands mine near Fort McMurray to the Edmonton area.

The Calgary-based energy transporter said yesterday it has finished installing 467 km of 42-in. diameter pipeline and 43 km of 20-in. diameter pipeline as part of the Corridor expansion and is $100 million under budget, having "materially eliminated its exposure to cost overrun risk."

Suncor Energy Reports Oil Sands Production Numbers for July 2009
Market Wire

CALGARY, ALBERTA--(Marketwire - Aug. 6, 2009) - Suncor Energy Inc. reported today that production at its oil sands facility during July averaged approximately 304,000 barrels per day (bpd). Year-to-date oil sands production at the end of July averaged approximately 292,000 bpd. Suncor is targeting average oil sands production of 300,000 bpd (+5%/-10%) in 2009.

The oil patch's latest boom: Substance abuse
Carrie Tait, Financial Post
August 11, 2009

Buses carry oil workers to their jobs in Fort McMurray Alta. Alcohol abuse proved to be one of the most "chronic" challenges in the oil industry's labour force, according to a recent report. Brent Foster/National Post Staff Buses carry oil workers to their jobs in Fort McMurray Alta. Alcohol abuse proved to be one of the most "chronic" challenges in the oil industry's labour force, according to a recent report.

Open letter calls for renegotiating NAFTA and an end to SPP ahead of summit
By Staff

Common Frontiers, a network of church, labour, environmental, and civil society groups, and the Réseau québcois sur l’Intégration continentale have sent the following open letter to Prime Minister Stephen Harper ahead of his summit next week with U.S president Barack Obama and Mexican president Felipe Calderón in Guadalajara, Mexico:

An Open Letter To Prime Minister Stephen Harper Re: North American Leaders Summit

Dear Prime Minister Harper,

Thousands of homes might have to replace oil furnaces with wood-burning heaters
Northeasterners forced to give up oil heat?

By Steve Milloy Tuesday, August 11, 2009

Northeastern governors may ban home furnaces that burn oil in order to meet greenhouse gas emission limits.

The governors are expected to approve “a blueprint for slashing carbon dioxide from cars — and perhaps home furnaces — by January,” reports ClimateWire.