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Find 153 Wednesday-Nights on Alberta Please see Oil Notes | Wikipedia | search | CP | clusty | Pengrowth | Calgary | Edmonton

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    2009

    Wednesday 01 July 2009 EDMONTON: PROVINCE ENDS FISCAL YEAR IN DEFICIT
    The Alberta government ran a budget deficit of $852 million in the fiscal year that ended in March, the energy-rich province's first deficit in 15 years. The government had predicted a surplus of $8.5 billion. That prediction was wrecked by plummeting oil and natural gas prices in the course of the y year. Continuing low gas prices are expected to push the current year's deficit to about $7 billion.

    Thursday 25 June 2009 CALGARY: CHINA INVESTS IN ALBERTA OILPATCH
    Addax Petroleum Corp. says it has accepted a friendly takeover offer of $8.27 billion by a subsidiary of China Petrochemical Corp. The bid is worth $52.80 a share and represents a 47- percent premium over the closing market price for Addax shares on June 5, just prior to the announcement of takeover talks. The Calgary-based firm says its directors accepted the offer unanimously. Addax operates oil and natural gas properties in Nigeria, Gabon and Iraq. The subsidiary, Sinopec Group, is China's largest producer and supplier of oil products and major petrochemical products.

    Peter G. Halll VP EDC Economics Weekly Commentary
    Peter G. Hall VP EDC Economics Weekly Commentary
    Western Canada: the Bigger the Bubble… - May 6, 2009
    Primary producers were ‘king of the hill’ in the boom years. Global demand seemed insatiable, market prices soared, financial capital was plenteous and ambitious projects were almost without number. Western Canada flourished in the heyday; now that it’s over, how will the West fare? Past issues | his WN page

    Commentary podcast. Listen

    Wednesday 08 April 2009 EDMONTON: RECESSION CATCHES UP WITH ENERGY PROVINCE
    The Alberta government will rack up the biggest budget deficit in the province's 103-year history, as Finance Minister Iris Evans tabled on Tuesday a $36.5-billion budget with a deficit of $4.7 billion. The development follows years of budget surpluses. The budget contains a provision whereby if revenues don't improve, future deficits will have to be provided for by spending cuts, higher taxes or both. Mrs. Evans says the province's law that forbids deficits will be rewritten to make it more "flexible." Shortfalls in the present budget will be made good by withdrawals from Alberta's Sustainability Fund. Under the new rules, the government will be allowed to incur deficits as long as the total doesn't exceed money in the Fund. The minister had forecast a surplus for 2008-2009, but in the end there was a deficit of $1.4 billion. The two yearly deficits are due in great part to collapsing energy prices.

    Sunday 22 February 2009 EDMONTON: ALBERTA RE-CONSIDERING GRIZZLY BAN
    Alberta's government might lift a ban on grizzly bear hunting. One sign of a healthy bear population is the large number of bear kills of livestock in the southeast of the province. The government will render a decision on the hunting ban after two surveys on the grizzlie population are completed.

    Friday 20 February 2009 EDMONTON: ENERGY PROVINCE ACKNOWLEDGES RECESSION
    Canada's western province of Alberta is forecasting as many as 15,000 job losses. Finance Minister Iris Evans made the announcement, explaining that the province has slipped into a recession. Alberta led Canada in job growth for several years. However, it now expects unemployment to jump from last year's average of 3.6 per cent to 5.8 per cent this year.

    Friday 13 February 2009 EDMONTON: IMAGE MAKEOVER
    Alberta's tar sands, or oilsands, are reputed to be among the world's worst polluters. The complicated process of extracting oil from the bitumen is dirty and energy consumptive, giving the massive industry a bad image. Now, the government of the western Canadian province is calling for action to reduce emissions, curb fresh water use and cut tailings produced by oilsands projects. But the 50-page document it released on Thursday offers no details of how those goals would be enforced, prompting Greenpeace to characterize it as little more than a public relations ploy.

    Thursday 05 February 2009 EDMONTON: ALBERTA DOCTORS OPPOSE NEW LAW
    The group representing Alberta's doctors is speaking out against a proposed law that would allow more sharing of patient health records through an electronic database. The Alberta Medical Association says changes to the Health Information Act threaten the privacy of Albertans. A spokesman for the Health Department says the goal is to improve protection of an individual's medical records, while broadening access for health professionals. The medical association fears patients will react by holding back vital details that currently are stored mainly in doctors' offices. It also says doctors may resort to using paper records to keep some information hidden. The association says doctors would be compelled to turn over records or face fines between $200,000 and $500,000.

    Monday 26 January 2009 EDMONTON: ALBERTA OIL INDUSTRY SUFFERING
    The falling price of world oil continues to affect the energy industry in the major oil-producing province of Alberta as well as elsewhere in Canada. One financial analyst for the Bank of Montreal, Mike Mazar, expects Canadian drilling and oilfield companies to start laying off thousands of workers. There are 250 fewer drilling rigs operating in Canada than two years ago, equivalent to ten thousand fewer jobs.

    2008

    Tuesday 02 December 2008 EDMONTON: PROVINCE SHIFTS HEALTH CARE
    Under a new plan to reshape health care in the western Canadian province of Alberta, clinics will perform some treatments now available in hospitals. The provincial government says there will also be a review of all current hospital projects and future construction plans. As well, there will be incentives for health professionals to work in rural areas. Health Minister Ron Liepert says the next step in the reform process will be to figure out how to implement the changes.

    Tuesday 25 November 2008 EDMONTON: ALBERTANS WORRIED ABOUT NUCLEAR PLAN
    Two groups opposed to the introduction of nuclear power plants in Alberta took their campaign on Monday to the legislature. The Peace River Environmental Society and the Coalition for a Nuclear-Free Alberta presented a petition bearing 2,500 signatures to the legislature opposing the construction of a nuclear power plant in northern Alberta. A spokeswoman for the latter questioned how many plants would be built if a single one is permitted. Ontario-based Bruce Power wants to spend $10 billion to build a four-reactor plant near Peace River to provide 4,000 megawatts to power both residences and the oilsands projects in northern Alberta. The proposal has divided public opinion in the area, supporters saying it would would keep jobs in the region, opponents seeing it as a threat both to the environment and public health.

    Friday 21 November 2008 EDMONTON: HIGHER ROYALTIES ROLLED BACK
    The Alberta government has in part rolled back the contentious royalties that energy firms were to start paying in January. Premier Ed Stelmach says his government is reacting to the global economic crisis to protect thousands of jobs in the province. The premier announced that the new rates will be reduced by $1.8 billion over five years for new oil and natural gas wells, but that the higher royalties announced a year ago will go into effect for existing wells and oilsands projects. The announcement of the higher fees angered energy firms, which reacted by cutting back on drilling and delaying major projects. Mr. Stelmach says the global credit crisis and volatile capital markets caused an urgent need for Wednesday's announcement concerning royalties.

    CALGARY: GAS PRICES SINK
    Consulting firm M.J. Ervin and Associations reports that gasoline prices are at their lowest level in 22 months, averaging 85.4 cents a litre. Gas hasn't been so cheap since January 2007. The firm says it doesn't foresee an early end to the worsening economic slump, which has depressed the price of crude and consequently gas.

    Wednesday 19 November 2008 EDMONTON: ECONOMIC SLUMP PUTS DENT INTO BUDGET SURPLUS
    The worldwide financial slump has had drastic effects on the finances of Alberta, Canada's biggest energy-producing province, effects that were outlined in Finance Minister Iris Evans' financial update on Tuesday. Mrs. Evans reports that halfway through the fiscal year, she expects a budget surplus of $2 billion, $6.5 billion less than forecast in the last budget. Mrs. Evans also says the crisis has cost the Alberta Heritage Savings Trust Fund $1.2 billion. The minister's officials say endowments and pensions funds have likely shrunk by approximately $26 billion, a loss of between six and 10 per cent. Mrs. Evans said the news is not all bad because even with plunging oil prices, Alberta will still earn $14.6 billion in energy revenues, which would exceed the record set three years ago.

    Tuesday 18 November 2008 EDMONTON: ALBERTANS TO GET GRIM FISCAL NEWS
    Finance Minister Iris Evans says she will have "sobering" news when she delivers her second-quarter fiscal update on Tuesday. The minister will reveal the effect that plunging oil prices and collapsing markets have had on revenues of Canada's biggest energy province as well as on savings accounts and pension plans. A government official told the Canadian Press that the projected surplus remains higher than the $1.6 billion forecast when the budget was presented in March, but far lower than the $8.5 billion estimated when oil prices reached US$147 in June.

    Thursday 13 November 2008

    EDMONTON: PROVINCE EASES CERTIFICATION REQUIREMENTS FOR NEWCOMERS
    The province has unveiled a new plan to improve recognition of foreign-earned qualifications, training and experience in order to help immigrants put their skills to work in Alberta. The province has released A Foreign Qualifications Recognition Plan for Alberta. Developed through stakeholder consultation and involving several government ministries, the plan incorporates and recognizes the critical role of employers, educational institutions, professional regulatory organizations and immigrant-serving agencies in the labour market integration of immigrants. Foreign qualification recognition is the process of verifying that the education, skills and job experience obtained in another country meet the standards established for Canadian workers. The 10 actions in the plan focus on three areas: specialized information, assessment standards and resources, and bridging the gap. Alberta has more than 50 professional regulatory organizations, more than 25 educational institutions, a number of industry councils or non-government organizations, and numerous employers involved in foreign qualification recognition work.

    Sunday 09 November 2008 CALGARY: DRILLING IN ALBERTA PREDICTED DOWN
    The Petroleum Services Association of Canada predicts that there will be 10 per cent fewer oil and natural gas wells drilled next year than this. The lobby says there will be a nine per cent decline in Alberta because of the new royalty régime that goes into effect in January and will cost the energy industry an additional $1.4 billion. The drilling decline in Alberta will be partly offset by a 29-per cent increase in neighbouring British Columbia and a nine-per cent increase in Saskatchewan. Association President Pierre Soucy says that the new régime in Alberta makes it more attractive for companies to diversify into places like B.C. and Saskatchewan that are seen as being more competitive.

    Sunday 09 November 2008 EDMONTON: ALBERTA WANTS INVOLVEMENT IN CLIMATE DEAL
    Premier Ed Stelmach says Alberta wants to be directly involved in negotiations with the U.S. on a climate change accord. He was reacting to Prime Minister Stephen Harper's revelation on Wednesday that his government intends to make such an accord a priority, given the impending departure of U.S. President George W. Bush and the also impending arrival of President-elect Barack Obama. Mr. Stelmach says his province must be part of negotiations because of the effect of an accord on major energy projects in Alberta. The premier says he won't accept any agreement that lessens investment in its energy sector or increases the prices of fuel, electricity and home heating. Mr. Stelmach suggests that the president-elect realize that Alberta's oilsands developments provide the U.S. with a reliable source of energy that will be required to build the slumping U.S. economy back up.

    Wednesday 05 November 2008 CALGARY: GAS PRICES IN STEEP DROP
    Gasoline prices in Canada are at their lowest level in almost three years, standing under $1 a litre in many areas. The national average stood at 98.3 cents. The lowest prices are in Toronto and southern Ontario, where prices dropped a full six cents on Tuesday to 85 cents. The figure in Montreal and Calgary was 95 cents and in St. John's, NL, $1.09. The co-founder of the Gasbuddy.com website, Jason Toews, told the Canadian Press that gas hasn't been so cheap since February 2006. Mr. Toews explains that the plunging prices of crude oil have finally had effect at the pump.

    Thursday 23 October 2008 CALGARY: GLOBAL SLUMP COULD AFFECT OILSANDS PROJECTS
    The head of Husky Energy Inc., John Lau, predicts that while the major players in Alberta's oilsands business will continue their projects because they can afford to do so, smaller firms may suffer. Mr. Lau says that the smaller players face "a lot of challenges" because of the high costs of the project and the province's labour shortage. The CEO says Husky is well positioned to perform in the current conditions because of its "financial discipline and project execution over the years." On Tuesday, Husky said it had nearly doubled its third-quarter profit to $1.27 billion compared with the result a year earlier because of record high oil prices. Oil closed at US$66.75 on Wednesday. Mr. Lau says Husky can perform well with prices between US$75 and US$100 a barrel. Although Husky's head office is in Calgary, the company is owned by Hong Kong interests

    Saturday 18 October 2008 CALGARY: ALBERTA WON'T ALTER ROYALTY CHANGE
    Alberta Energy Minister Mel Knight says the government won't alter its plan to start collecting higher oil and natural gas royalties next January, despite plunging oil and gas prices. Mr. Knight told an energy conference that the government is "always open" to discussions with the industry but declined to say whether any specific measures are intended to cushion the impact of the higher royalties. He did say that the government will release a new energy strategy in about six weeks. Crude oil for November delivery closed at US$69.85 a barrel, the lowest figure since August 2007 and less than half of the record high of US$147. Prices at current levels makes some oilsands and natural gas projects unprofitable, a situation worsened by the credit crunch. Also Thursday, Royal Bank predicted an average oil price in 2009 of US$80 a barrel, $10 lower than its previous estimate. But the bank says oil could slip below $60 if demand continues to drop.

    Wednesday 01 October 2008 WINNIPEG: WESTERN HARVESTS PROCEEDING APACE
    The harvest season is going ahead in a timely fashion in Western Canada. Eighty-two per cent of the harvests have now been gathered in Alberta, Saskatchewan and Manitoba, the pace being 10 per cent ahead of the average for the last five years. The harvests are farther ahead in the north of the three provinces. The Canadian Wheat Board says weather conditions next week favour the harvests' completion.

    Tuesday 09 September 2008 OKLAHOMA CITY: AMERICAN COMPANY TO OPEN SECOND ALBERTA OILSANDS PROJECT
    The Oklahoma-based company, Devon Energy Corporation, will immediately start building its Jackfish 2 oilsands project in northeastern Alberta now that it has regulatory approval. Jackfish 2 is expected to produce about 35,000 barrels of oil a day by 2012. Devon Energy's first Jackfish oilsands project began operations in 2007. It will reach its full production capacity of 35,000 barrels of oil a day next year. Jackfish and Jackfish 2 are about six kilometres from each other near Conklin, about 150 kilometres southeast of Fort McMurray.

    Saturday 30 August 2008 ORONTO: GREENPEACE SLAMS SYNCRUDE LAWSUIT
    The Greenpeace environmental lobby has reacted angrily to a lawsuit brought against it by Syncrude Canada Ltd., claiming the court action is aimed at intimidating critics like itself of the huge oilsands developments in northeastern Alberta. The group says the action is "a punitive lawsuit designed to financially cripple a non-profit organization and intimidate critics of the tar sands." The suit results from the invasion of a Syncrude operation by Greenpeace members who put a cap on a pipe that led to a toxic waste-water pond at a mine site on July 24. The pond attracted world notoriety when a flock of 500 migratory ducks died after landing on it. Syncrude says the environmentalists had trespassed on a industrial area containing large, complex mining equipment, thus endangering the company's workers and themselves. A Syncrude spokesman says it's legitimate to debate the oilsands issue, but trespassing dangerously isn't the way to achieve such a debate. Syncrude is also demanding $100,000 in damages.

    Thursday 31 July 2008 TORONTO: ALBERTA'S PROSPERITY HAVING BOOMERANG EFFECT
    Statistics Canada reports that Alberta's booming economy is having a perverse effect on high school graduation rates. The agency has found that only about 68 per cent of young Albertans stayed in high school long enough to graduate in 2005-2006, the lowest graduation rate in any province of the country, only the three northern territories having lower rates. A spokeswoman for Alberta Education says the figures aren't as worrisome as they seem because many dropouts later return to finish high school but acknowledged that more needs to be done to keep young people in school. StatsCan says the highest graduation rates were in Atlantic Canada, where students are more inclined to keep studying for the relative lack of attractive jobs.

    Saturday 12 July 2008 EDMONTON: GOVT. TRIES TO HELP TEMPORARY WORKERS
    The Alberta government has begun a pilot project to help temporary workers. The two-year, $1.4-million project will give money to nine immigration service organizations across the province to enable them to expand. Until now, the government subsidized only services for immigrants. At least 23,000 temporary workers have landed into Alberta in the past several years. The Alberta Federation of Labour has welcomed the decision, pointing out that temporary workers are vulnerable to exploitation because many of them cannot speak English and are reluctant to complain for fear of being sent home. The Edmonton Mennonite Centre is one of the nine organization involved and will receive $215,000 to hire three new staffers. Its executive director, Jim Gurnett, says the costs of the pilot project should be paid by employers not the taxpayers because it is they who benefit from the labour of the temporary workers.

    Tuesday 08 July 2008 CALGARY: PREMIER MEETS U.S. ENVOY TO TALK OILSANDS
    Alberta Premier Ed Stelmach had a meeting on Monday with U.S. Ambassador David Wilkins to discuss the threat of a curb on the import by the U.S. of crude oil from the province's oilsands developments. After the meeting, the premier said that he and David Wilkins will work together to bring more American politicians to Alberta to allow them a first-hand look at what Alberta is doing to reduce greenhouse gases. The process of separating oil from bitumen using natural gas is enormously productive of toxic emissions. The Alberta government is concerned that the U.S. government is drawing up a law that would forbid the import of energy products that produce more pollution that conventional ones. However, some American politicians have said the law wouldn't apply to Alberta's oilsands.

    Thursday 03 July 2008 TETON VILLAGE: ALBERTA PREMIER DEFENDS OILSANDS
    Alberta Premier Ed Stelmach defended his province's oilsands developments at the conclusion of the annual three-day Western Governors' Association held this year at Teton Village, WY. Mr. Stelmach told the governors that he expects the province's oil industry to be scrutinized because it's the top source of crude oil imported by the U.S., accounting for 13 per cent of the imports. Environmental groups took out an advertisement in Wyoming's biggest newspaper that criticized the impact of oilsands on one of North America's biggest forests as well as the carbon dioxide emissions that oilsands projects create. Mr. Stelmach responded that his province has pioneered carbon capture projects and became the first North American jurisdiction to impose a levy on carbon emissions. Montana Gov. Brian Schweitzer noted that although oilsands entail environmental problems, so do coal and nuclear power, and that the oil replaces oil bought "from dictators around the world."

    Sunday 29 June 2008 EDMONTON: PREMIER DEFENDS OILSANDS IN APPEAL TO U.S. MEMORY
    Alberta Premier Ed Stelmach has called on Americans to recall that Canada has "protected their backs" in several wars before considering calls to ban oil from his province's oilsands as environmentally harmful, noting that the two countries fought together in the two world wars and are presently engaged in the Middle East. Mr. Stelmach says he'll convey that message at this weekend's governors' and premiers' meeting of western states and provinces at Jackson Hole, WY. The U.S. government is drafting a law that would forbid imported alternate sources of energy that are deemed environmentally dangerous. But some American officials have said it wouldn't apply to oilsands.

    REGINA: SASKATCHEWAN, ALBERTA DISLIKE OPPOSITION GREEN PLAN
    Neither Mr. Stelmach nor Saskatchewan Energy Minister Bill Boyd like Liberal leader Stéphane Dion's green plan, which features the imposition of a carbon tax. Under the plan, there would be a $15.4-billion tax shift to punish polluters and to reward green businesses and consumers. Mr. Stelmach says the plan would increase every consumer cost not only in his province but across Canada. Mr. Boyd, for his part, rejects Mr. Dion's contention that although the two provinces think little of his plan now, they'll be of an opposite opinion in 10 years because it would cause their economies to become more diversified. The minister says that Saskatchewan doesn't like it now and won't in 10 years either. Mr. Dion is in Western Canada to pitch the plan.

    :Friday 27 June 2008 CALGARY: RULES FOR OILSANDS PONDS TO BE TIGHTENED
    The Alberta Energy Resources Conservation Board says it will strengthen the rules governing the huge oilsands tailings ponds in the northeast of the province. The decision comes after the oilsands attracted international opprobrium when 500 migratory ducks died after alighting in one, the incident occurring at a time when the oilsands industry is being criticized for aggravating global warming. The ponds contain the residue of the process by which crude oil is extracted from bitumen and they cover more than 130 square kilometres. The new rules will force companies to prepare an operations plan to administer the ponds.

    Friday Jun 27, 2008 Officials in Ottawa and Calgary intent on changing the image of the oilsands
    Two years ago today, the government of Alberta parked a supersized oilsands dump truck on the National...

    Oilsands firms take heat on environmental impact
    Canadians have a love-hate relationship with the oil industry.

    Thursday 26 June 2008 EDMONTON: ALBERTA WARNS OF U.S. BACKLASH IF OILSANDS EXCLUDED
    Energy Minister Mel Knight predicts that American politicians will be made to suffer by consumers if they try to exclude "dirty" sources of foreign oil, including Alberta's oilsands on the grounds that production of such oil harms the environment. Consideration is being given in the U.S. to more expensive energy sources such as offshore oil or alternative fuels. Mr. Knight was reacting to reports that Democratic Party presidential candidate Barack Obama has been weighing the possibility of curbing imports of "dirty" oil from various sources, including Alberta. Earlier in the week, U.S. mayors passed a resolution calling on cities not to use fuel produced from the oilsands for municipal vehicles.

    Tuesday 17 June 2008 EDMONTON: PROVINCE WARNED AGAINST MORE OILSANDS DEVELOPMENT
    The Pembina Institute has warned the provincial government of the dangers of approving more oilsands upgraders in the Edmonton area but the government appears not to be heeding. The environmental group's Oilsands Fever report says that such a feverish expansion around the city will produce the same problems experienced in and around Fort McMurray in the heart of the oilsands region of the northeast. One upgrader is already in operation near the city, two others are under construction and applications to build five others have been submitted. The facilities will require railway lines, roads, pipelines and electrical transmission lines. The Pembina Institute's report says the upgraders would consume 10 times as much water as the city itself and spew as much greenhouse gas into the air as 10 million vehicles. But the Alberta Energy department says a delay in the projects won't be considered because it would drive investment away and lead to the bitumen from the oilsands being processed outside the province.

    Friday 13 June 2008 WASHINGTON: CANADA REASSURED ON OILSANDS
    A member of the U.S. Senate energy committee says legislation concerning energy imports shouldn't affect those of Canadian oilsands crude. Sen. Jeff Bingaman, the committee chairman, says he supports an exemption to the legislation that would leave oilsands products from Canada unaffected. The House of Representatives has already approved such an exemption. The Canadian government has expressed concern that the legislation would severely limit exports of oilsands products to the U.S. Environmentalists in both countries have urged Canada to slow oilsands projects and make greater efforts to alleviate their environmental effects.

    Saturday 07 June 2008 CALGARY: OILSANDS LICENCE RESTORED
    The federal department of fisheries and oceans has reinstated a water permit to allow Imperial Oil Ltd. to start work on its controversial Kearl oilsands project. The department explained that it has received an updated report from a federal-provincial panel. The $8-billion project near Fort McMurray has been the subject of an intense legal battle in recent months. Environmentalists says Kearl will destroy huge tracts of forest and should be halted.

    Thursday 05 June 2008 CALGARY: DANGER OF REFINING SHIFT LAID OUT
    Canadian and U.S. environmentalists say that two-thirds of the planned increased crude oil refining in the U.S. will go to refine highly polluting crude oil from the oilsands of northern Alberta. A report by the Washington, D.C.-based Environmental Integrity Project says the American refiners are shifting their capacity from conventional crude oil to Canadian oilsands, a highly negative development. The Environmental Defence Canada contributed to the report. Environmentalists have long deplored that oilsands development destroys water resources and contributes heavily to creation of greenhouse gases, supporters claiming however that the projects create work and can be built in a relatively clean way. One-point-six-billion barrels of oil per day are refined in the U.S., a figure which is to be increased by 1.1 billion barrels. Eric Schaeffer, the director of the Environmental Integrity Project, calls the looming reliance on Canadian oilsands a "setback of truly staggering proportions."

    Saturday 17 May 2008 CALGARY: GAS PIPELINE SUFFERS NEW REGULATORY SETBACK
    The Globe and Mail newspaper reports that the project to build a $16.2-billion natural gas pipeline from the Mackenzie Valley in the Northwest Territories to markets in the south has suffered yet another delay. The latest delay is due to a decision by the joint federal and provincial panel assigned to assess the environmental impacts of the project won't make public its report in October as planned by rather will deliver it sometime next year. One of the newspaper's sources say the delay is due to the enormous task of evaluating the thousands of pages of data. The independent panel named by the federal government had originally been supposed to publish its report in August 2007. The decision is the second regulatory reverse suffered this week by Imperial Oil Ltd., the leader of the consortium trying to launch the Mackenzie Valley project. On Wednesday, a court decision delayed the company's $8-billion Kearl oilsands by several months.

    Friday 16 May 2008 CALGARY: IMPERIAL SUFFERS COURT SETBACK TO OILSANDS PROJECT
    A federal judge has confirmed an earlier court ruling that blocks Imperial Oil Ltd. from proceeding with planned $8-billion Kearl oilsands mine in northern Alberta. Imperial was in court last week fighting the federal revocation of a permit to drain a vast stretch of muskeg in preparation for an open-pit oilsands mine. Imperial estimates that the area contains 4.6 billion barrels of recoverable oil.

    Friday 02 May 2008 EDMONTON: DEAD DUCKS EMBARRASS ALBERTA
    The 500 ducks who died earlier in the week in a toxic wastewater pond have turned into an embarrassment for the province, as images of and stories about the birds have been seen and read around the world. The migrating birds flew into the ponds where billion of gallons of polluted water from the Syncrude oilsands development are stored. The pond lies along a bird flypath and is supposed to be ringed with noise-making devices, which however were not in place. The disaster occurred as the Alberta deputy premier was in Washington, DC, to convince opinion-makers that oilsands projects are environmentally safe. The province has launched a $25 million PR campaign to promote oilsands as eco-friendly.

    Wednesday 23 April 2008 EDMONTON: ALBERTA PLANS RECORD SPENDING
    The provincial government has presented a budget containing record-high spending of $37 billion, a 10-per cent increase over the previous year. The budget provides for billions for hospitals, schools and highways in a effort to reduce the lag between Alberta's booming growth and the province's infrastructure. The government also says it will phase out health-care premiums starting on Jan. 1. During the last election campaign, the Conservative Party of Premier Ed Stelmach had promise to phase out the premiums over four years. The measure will save families who pay them $1,000 a year. The budget forecasts a surplus of $1.6 billion. However, that prediction is predicated on a price of US$78 for a barrel of oil, while that price hit a record of US$118 on Tuesday.

    Thursday 20 March 2008 EDMONTON: SYNCRUDE WINS CERTIFICATE FOR RECLAMATION
    Syncrude has become the first oilsands producer to earn a land reclamation certificate from the Alberta government. The 104 hectares that were once a soil dump are again home to wildlife. However, what had been low wetlands has been permanently changed to a hilly area. Environmentalists have long criticized oilsands producers for failing to restore the land after its energy resources have been removed.

    Tuesday 11 March 2008 OTTAWA: U.S. ENERGY LAW CAUSES CONCERN
    The foreign affairs department says it's worried that an American energy law approved last December could interfere with the integration of the North American energy sector because of a provision that could affect the marketing of crude oil from Alberta's oilsands. The provision forbids the U.S. government to procure alternative fuels that create higher greenhouse house gas emissions that conventional petroleum sources. Canada's oilsands are defined as an unconventional energy source and environmentalists claim such projects create five times more toxic emissions than conventional oil production. The administration of President George W. Bush has encouraged imports of oil from Canada's oilsands as a way to reduce U.S. dependence on the Middle East. All three presidential candidates have said they want to deal with global warming, which the foreign affairs department says it fears could lead to a narrow interpretation of the U.S. Energy Independence and Security Act. Alberta's oilsands are the second-biggest oil reserve after Saudi Arabia's.

    Monday 10 March 2008 THE STRAIGHT GOODS:
    In an effort to meet climate change targets, the Conservative government will force the oil and coal sectors to store greenhouse gas emissions. Chinese officials accuse a separatist militant group of plotting to attack the Beijing Olympic Games. Spain’s socialist government is re-elected.
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    OIL SANDS PAINTED GREEN
    Have the Tories suddenly turned into green crusaders? On Friday, MediaScout reported that the Conservative government failed miserably to live up to its own environmental standards, allowing lakes to be polluted and endangered species to be threatened. Today, the Star takes Environment Minster John Baird to task for blaming others and failing to take concrete environmental action, while the Globe and La Presse trumpet the government’s “tough” new standards targeting the Alberta oil sands and coal-fired power plants. The government will force all new operations in these sectors to capture and store their greenhouse gas emissions instead of spewing them into the air, and will make companies bear the cost for the new technology. Baird says the changes are necessary if Canada is to have any chance of meeting its goal of reducing greenhouse gas emissions by 20 percent below 2006 levels by 2020. For supporters of the Kyoto protocol, this goal is an exercise in underachieving—that agreement set the bar much higher than the government’s plan.

    But the Conservative government is presenting its plan as a demand for a noble sacrifice from an industry to which they have been accused of kowtowing. There is no reaction from business leaders in today’s papers, but the government claims it has discussed the measures with the government of Alberta. Industry may whine, but critics still claim that they are getting off easy, since the government’s plan only demands reductions on “emissions per unit of production,” as opposed to absolute emissions reductions. In other words, a company will be required to cut its emissions per barrel of oil produced, but if the number of barrels it produces rises, so can its total emissions. The Globe notes that the increased cost to oil producers may cause gas prices to rise. Still, the rules have teeth to them, as any company failing to meet its targets could be prosecuted under the criminal code.

    Thursday 06 March 2008 EDMONTON: COURT DELAYS HUGE OILSANDS DEVELOPMENT
    Federal Court of Canada has returned Imperial Oil's proposed $7-billion Kearl oilsands project back to a federal-Alberta panel to reassess its production of greenhouse gases. Federal Fisheries and Oceans Minister Loyola Hearn approved the Kearl project last month after the three-member panel accepted Imperial's contention that the emissions produced would be "insignificant." Two environmental groups, Ecojustice and the Pembina Institute, asked the court to reverse the decision. The court agreed that it would be impossible to consider the production of gases equivalent to that of 800,000 cars as insignificant. The effect of the ruling on Mr. Hearn's decision is unclear. A lawyer who argued the case for Ecojustice says it will force harmful emissions to be much more carefully considered in future oilsands assessments.

    Wednesday 05 March 2008 EDMONTON: CONSERVATIVES WIN FOR 11TH STRAIGHT TIME
    The Progressive Conservative Party government has been re-elected with a majority in the western Canadian province of Alberta. Premier Ed Stelmach led his party to its 11th straight majority in Monday's election. The party has been in power since 1971. The Tories Conservatives won 72 of 83 seats in the provincial legislature. The Liberal Party captured only nine seats and the New Democrats, two. Among the main campaign issues in the oil-rich province were how to clean the environment and how to improve health care.

    Editorial: Alberta wins

    No one saw it coming. Nobody thought that homespun Stelmach was capable of putting on a show of electoral dominance

    Wednesday Mar 5, 2008 Albertans clearly have no gripes
    Nice guys finish first in Alberta, where Progressive Conservative Premier Ed Stelmach, in his first election as leader, increased his party's share of the vote and seat total in a landslide victory Monday.

    Monday Mar 3, 2008 Officials were warned of oilsands fallout
    Senior officials at Environment Canada were warned two years ago about potential economic and environmental...

    Monday 03 March 2008 EDMONTON: ALBERTANS PREPARE TO VOTE
    The Conservative Party in Alberta hopes to win its eleventh consecutive mandate on Monday when voters go to the polls. If the Conservatives win, it will be Premier Ed Stelmach's first victory as leader. Although there has been speculation that voters might consider a change after almost 37 years of Conservative government, there appeared to be little incentive for people to switch to the Liberal Party under Kevin Taft or to the New Democratic Party under Brian Mason. Among the main campaign issues were how to clean the environment and how to improve health care. Alberta is cash-rich because of its thriving oil industry.

    Shifting sands: Canada, the world and the oil sands


    March 1, 2008
    Canadian ambassador Wilson lobbies U.S. to go easy on oilsands restrictions

    Sunday Mar 2, 2008 Five facts about Canada's oil country
    Alberta has a population of 3.3 million, about 10 per cent of the Canadian total.
    Alberta's GDP was $183 billion in 2006 - about 14 per cent of Canadian GDP.
    Oil and gas production accounts for about 25 per cent of Alberta's GDP, 70 per cent of provincial exports and more than a third of provincial government revenues. Its oil sands contain 174 billion barrels of oil, the largest reserves outside the Middle East.
    Alberta has the strongest economy of the provinces and is the only jurisdiction that is debt free. It has run budget surpluses for 14 years, thanks to spending restraints and revenue from the oil and gas sector.
    Alberta claims to have been free of rats since 1950. The province still employs
    inspectors to patrol its borders and inspect up to 4,000 buildings a year for signs of infestation. Pet rats are banned.

    Friday 29 February 2008
    ALBERTA’S FORGOTTEN ELECTION
    The Globe (subscription required) and the Post go inside with Alberta’s election—but only barely. Since the year-old administration of Progressive Conservative Premier Ed Stelmach headed into an election on February 4, the national media have given us only a marginal glimpse of the campaign. Today’s papers continue that practice. In the Globe, Roy MacGregor offers a quick review of some interesting analyses and blue-sky policy ideas offered by Alberta luminaries invited to speculate about what the province could do with the massive wealth being generated by oil sands development. In the Post, Colby Cosh—once the national media’s favorite young right-wing Visigoth, now given much less face time—wearily grumps about both Stelmach’s lack of zing and the Alberta Liberals’ “characterization of Alberta as a giant failure zone.” Other than these two pieces, we get nothing three days ahead of the March 3 election that promises to be a watershed test of ideas and models for the province’s future. Stelmach’s government leans heavily on his rural power base in northern Alberta, aiming to maintain the province’s traditional fiscal reticence and keep control of the agenda tightly centered in the cabinet and the PC party itself. The Alberta Liberals have managed to gain attention by calling for greater public investment in the cities—particularly booming Calgary—that were nearly shut out of cabinet. Weariness with thirty-seven continuous years of PC dominance has elicited rural interest in the hard-right Wildrose Alliance, while the NDP and Greens have capitalized on concerns over the environmental impact of oil sands exploitation. There’s a real contest in Alberta, one that may topple a longstanding political dynasty. Better coverage would have been an opportunity to treat it like an event worthy of the attention of a national readership.

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    Sunday 17 February 2008 OTTAWA: ENVIRONMENTALISTS DENOUNCE OILSANDS PROJECTS
    U.S.-based environmentalists have denounced Alberta's oilsands projects as the "most destructive project on the planet" and accuse the federal government of being an accomplice of the their developers. Environmental Defense recalled the more than 100 government and independent reports on the toxic waste ponds that cover 50 square kilometres and are big enough to be observed from space. The lobby's report also notes that oilsands produce three times more greenhouse gases than the extraction of conventional oil and are likely responsible for acid rain in neighbouring Saskatchewan. The document also mentioned health problems at the Fort Chipewyan, an aboriginal community downstream from the oilsands, where various types of cancer and other diseases have become endemic where they had been unheard of. Environmental Defense blames these woes in part on lax enforcement of federal environmental and fisheries laws and the CO2 emissions reduction targets "set deliberately low" by Environment Minister John Baird.

    Monday Feb 11, 2008 Aberta sways on undecided voters
    About one in four voters were uncertain about who to vote for in the March 3 Alberta election heading...

    Tuesday 05 February 2008 EDMONTON: ALBERTANS TO VOTE
    Conservative Party Premier Ed Stelmach has called an election for March 3 to seek what would be his first mandate from voters since he became party leader a year ago. Mr. Stelmach won the leadership in a surprise vote to succeed former Premier Ralph Klein. The Conservatives are expected to campaign on the slogan "Change that works for Albertans." Mr. Stelmach's government has been spending billions for new schools, roads, hospitals and other infrastructure. Mr. Klein acknowledged before leaving office that his government had had no plan to provide infrastructure support for the province's staggering growth. The opposition Liberal and New Democratic parties have advised voters to pay attention to the Conservatives' record rather than their campaign promises.

    Tuesday Feb 5, 2008 Alberta premier calls election
    Alberta Premier Ed Stelmach called a provincial election yesterday, launching a campaign that will culminate... In the Canadian media, only election news out of Alberta  ranks slightly higher than Super Tuesday

    Wednesday 30 January 2008 CALGARY: ALBERTA UNVEILS MULTI-BILLION-DOLLAR STRATEGIC PLAN
    Flush with money from its booming oil industry, the government of the province of Alberta on Tuesday announced a 20-year strategic plan to improve infrastructure as well as a wide variety of public services. Under the plan, the government will spend CDN$6 billion annually to build up highways, railways, hospitals, schools and low-income housing. The announcement comes following criticism that the government was spending too much money in helping to develop profitable oil-sands projects while failing to maintain infrastructure and to stop high inflation in the housing sector. Alberta's population of just over three million people is expected to increase to five million by 2028. Political opponents of Premier Ed Stelmach say that his 20-year strategic plan is merely a ploy in advance of an election that he's expected to call soon.

    Tuesday Jan 29, 2008 Alberta's climate plan tops debate
    Canadian premiers offered cautious defence of Alberta's approach to climate change yesterday as they...

    Friday 25 January 2008 ALBERTA TO MOVE SLOWLY TOWARD GREENHOUSE GAS REDUCTIONS
    What comes down must first go up. The oil-rich province of Alberta has rolled out a plan that allows total greenhouse gas emissions to increase for another 12 years, before starting a gradual reduction. Environment Minister Rob Renner says it will result in "real reductions" of 14 per cent below 2005 levels by 2050. The plan focuses on capturing and storing CO-2 from giant oilsands plants, coal-fired generators and industry flu stacks. The carbon dioxide would then be distributed along a multibillion-dollar pipeline system and pumped into the ground to help squeeze more oil and natural gas from aging wells. Alberta's new green plan also includes unspecified consumer incentives to buy energy-efficient appliances, as well as a new emphasis on wind, thermal and geothermal power.

    Tuesday 22 January 2008 OTTAWA: CANADIAN WEST TO LEAD ECONOMY
    The cities in western Canada are predicted to lead the country in economic growth in 2008. The Conference Board of Canada, an independent economic think tank, says Calgary, Alberta, will be the top economic performer, based on "strong energy demands, furious construction activity and robust consumer spending growth." Next on the list is Edmonton, Alberta, followed by Winnipeg, Manitoba, and then Vancouver and Abbotsford in British Columbia. Of the expected top-ten performers, four are in eastern Canada. They are Toronto, Kitchener, Quebec City and Halifax. In a cautionary note, however, the Conference Board warns that if the United States were to enter a recession, then all bets are off. A recession, it says, "could lead to a significant retrenchment in commodity prices, cutting back the wealth and income effects that are filling Canadian government coffers and driving up business investment and household spending."

    ALBERTA: TORIES REMAIN STRONG
    Canada's western province of Alberta has been governed by the Progressive Conservative Party for the past 37-years. And, according to a new poll conducted for the Globe and Mail newspaper, that's not about to change. It shows that Premier Ed Stelmach and his party are poised for an election victory, if one is held, as expected, next month. The poll, done by the Strategic Counsel, finds that 58 per cent of voters would choose the Conservatives, 19 per cent would vote Liberal, while the NDP and the Greens each polled nine per cent. The Alberta Alliance has five per cent support. The poll was conducted earlier this month.

    CALGARY: WHAT'S THE BUZZ?
    Canadian beekeepers and industry experts are meeting in Calgary, Alberta, this week to discuss ways to keep new pests and viruses from damaging Canada's fragile honeybee population. Nearly 30 per cent of Canada's bee colonies were destroyed last winter, twice the normal rate. The Canadian Honey Council says there needs to be a national network to monitor trends and alert scientists and beekeepers if there's a serious outbreak of disease. Honeybees pollinate numerous crops in Canada, including apples, blueberries and raspberries.

    Tuesday 15 January 2008 EDMONTON: OILSANDS PROJECT FACES ENVIRONMENTAL COURT CHALLENGE
    A court in Edmonton, Alberta, will begin hearing arguments on Tuesday that hope to overturn the approval of a major oilsands project in the province's north. Two environmentalist groups, Ecojustice and the Pembina Institute, argue that approval for Imperial Oil's project should have been withheld because the company chosen to maintain the environment has a poor record. The groups also argue that Imperial Oil's plans to soften the environmental impact are untested. Alberta has wide tracts of oilsands that are attracting strong international interest. But many environmentalists worry that oilsand projects are devastating huge areas.

    Tuesday 01 January 2008 CALGARY: TRANS-FAT FREE IN 2008
    The city at the centre of Canada's cattle industry is the first in the country to impose a ban on trans fats. Restaurants in Calgary, Alberta, are no longer allowed to cook with fats and oils that have more than 2-per-cent trans fats. Those fats are typically found in cooking oils that are solid at room temperature, such as some margarines and shortenings. Trans fats have been linked to clogged arteries and heart disease. Eventually, other Canadian cities are expected to follow Calgary's lead.

    2007

    Thursday 27 December 2007 FORT McMURRAY: PIPELINE OPERATOR UNDAUNTED
    A pipeline operator remains undaunted by labour and other political groups opposed to its project to ship unprocessed bitumen from Alberta's oilsands to the United States. TransCanada (TSX:TRP) spokesperson Shela Shapiro said the company is committed to the Keystone pipeline project, noting it wouldn't build the pipeline if there wasn't any demand for it. In October the Communications, Energy and Paperworkers union filed an application asking the federal cabinet to reject the National Energy Board's approval of the Keystone application. The union wants the issue brought before the Standing Committee on Natural Resources for hearings on the impact of exporting Canada's unprocessed energy resources. The Alberta Ned Democratic Party has also proposed a private members bill seeking to restrict bitumen exports to the US. Ms. Shapiro said TransCanada is anticipating the Final Environmental Impact Assessment from the US to come in either by the end of this year or early next year.

    Thursday 08 November 2007 EDMONTON: DISPUTE RAGES OVER ROYALTIES
    Alberta Premier Ed Stelmach says he was unaware during his years in cabinet that energy department reports urged that oil and natural gas royalties be increased by at least $1 billion a year. The province's auditor general recently reported that the reports were hidden from the public for years. The premier said on Wednesday that regardless of the contents of the department reports, changes to royalties were at "the discretion of the government." Two weeks ago, the government raised the royalties by $1.3 billion a year, ignoring a recommendation by a review panel that the figure be $2 billion. Opposition Liberal leader Kevin Taft has been pressing the Conservative government to make the reports public, and said on Wednesday that there's no question but that Albertans were cheated out of billions of dollars. Mr. Taft calls "total nonsense" the premier's contention that there are "no missing billions" because the energy industry stimulated the provincial economy. According to Auditor General Fred Dunn, the energy department's own documents show that the government was falling well below its energy revenue targets.

    Wednesday 07 November 2007 EDMONTON: PREMIER CRITICIZES ROYALTY PANEL
    Alberta Premier Ed Stelmach has for the first time criticized the review panel on oil and natural gas royalties which his own government appointed. The panel recommended that the royalties be increased by 20 per cent or almost $2 billion a year starting this summer. In the end, the government opted for an increase of $1.4 billion starting in 2009. Speaking in the legislature, the premier compared the panel's main recommendation to the hated federal national energy program in the 1970s. Mr. Stelmach says the program drove Albertans out of the province, caused bankruptcies and left some homeowners unable to pay their mortgages. The premier faced questions from lawmakers about why the Conservative government had for years ignored advice of its civil servants that the royalties should be raised.

    Friday 02 November 2007 CALGARY: ENERGY FIRM REACTS TO ROYALTY CHANGE
    Canadian Natural Resources Ltd. says it will lessen its drilling because of the higher royalty fees announced last week by the Alberta government. The firm says it will drill 30 to 50 per cent fewer natural gas wells because it anticipates negative effects on its development plans in 2008. The company also says its drilling for light oil will drop by 50 per cent. Premier Ed Stelmach announced last week that the government will collect $1.4 billion more a year in oil and gas royalties. Major and junior energy firms had said beforehand that a major increase in royalties would impel them to a massive scaledown of their investments in the province.

    Wednesday 31 October 2007 CALGARY: PLANNED PIPELINE DOUBLES IN SIZE
    Canadian pipeline firm TransCanada Corp. says it has more than doubled the estimated cost of its planned Keystone pipeline to US$5.2 billion to build in more capacity for the crude oil which it will convey. CEO Hal Kvisle says both producers and refiners continue to contract for additional long-term use of the facility. Keystone will convey Canadian crude from Hardisty, AB, to two terminals in the mid-western state of Illinois. Keystone was planned to carry 435,000 barrels of oil a day starting in late 2009. The company will ask the Canadian National Energy Board's approval to increase that amount to 590,000 barrels daily. TransCanada's initial estimate in 2005 of the cost of building the pipeline was US$2.1 billion.

    CALGARY: MONTANA BECKONS TO DISGRUNTLED IN ALBERTA
    The governor of the U.S. state of Montana has suggested that energy companies in Alberta that are unhappy with the new and higher system of royalties in that province think about investing in their southern neighbour. Brian Schweitzer told the Calgary Chamber of Commerce that his state already offered a better tax structure even before Premier Ed Stelmach last week announced that the province would start collecting an additional $1.4 billion a year in oil and natural gas royalties. Gov. Schweitzer says Alberta and Colorado already have an excellent energy partnership and that there's no reason it can't continue. The governor also suggested that Canada cannot increase its energy production without new refineries and that Colorado would be a good place to locate them.

    Monday 29 October 2007 EDMONTON: PREMIER STILL PROMOTING HIGHER OIL ROYALTIES
    The premier of the western Canadian province of Alberta, Ed Stelmach, is continuing to defend his government's decision to raise government royalties for the oil and gas industries. In a speech to the Progressive Conservatives' annual policy conference in Calgary on Saturday, Mr. Stelmach said that the increase will help the province build for the future. And he said that all of Canada will benefit. On Thursday, Mr. Stelmach said that royalities on oil and gas production would increase $1.4 billion by 2010. Canada's largest energy company, Petro Canada, has said it will carry on with its engineering work on $15 billion worth of new oil sands projects in Alberta.

    U.S.-led coalition forces killed about 80 Taliban fighters during a six-hour battle outside a Taliban-controlled town in southern Afghanistan. The battle was in Helmand province, the world's largest poppy growing region. It was at least the fifth major fight in the area since early September. Meanwhile, Australia's prime minister, John Howard, called for more NATO powers to directly engage the Taliban. The governments of the Netherlands and Canada, in particular, are coming under domestic pressure to pull out troops because of heavy casualties.

    Saturday 27 October 2007 CALGARY:ROYALTY MELTDOWN DOESN'T MATERIALIZE
    The selloff of oil and natural gas stocks that some analysts had predicted because of the Alberta government's royalties increase announced on Thursday didn't pan out. The TSX energy sector actually gained .17 per cent in trading on Friday, as the global price of crude oil hit new heights. The barrel of crude closed at US$91.86 on the Nymex. Shares of companies like EnCana Corp., Suncor Energy and Canadian Oil Sands Trust declined slightly, but shares of Canadian Natural Resources Ltd. and Imperial Oil, the country's largest integrated oil and gas producer, actually rose. PetroCanada, meanwhile, announced that it will carry on with early engineering work on two energy projects worth $15 billion. On Thursday evening, Premier Ed Stelmach said the government will raise royalties by $1.4 billion a year staring in 2009. An independent panel had recommended they rise by $2 billion yearly starting next summer.

    Friday 26 October 2007 THE STRAIGHT GOODS:
    Alberta Premier Ed Stelmach announces his controversial new scheme to increase the province’s oil royalties. An escaped murderer and one of America’s Most Wanted is caught by a Mountie in New Brunswick. The Vatican releases long-concealed court transcripts of the Knights Templar heresy hearings.
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    ALBERTA RUDE TO CRUDE COMPANIES
    The Globe leads, while The National, CTV News and the Post front, and the Star goes inside with the unveiling of Alberta premier Ed Stelmach’s new oil royalty scheme. Stelmach announced yesterday that the Alberta government will increase the royalty charges for oil companies drilling in the province by 20 percent, garnering Albertans a projected $1.4 billion dollars more in annual oil revenue by 2010. The establishment of the new regime is a response to the findings of a government-appointed panel created to investigate the previous royalty policy, which had been in place since 1992. In fact, Stelmach rejected half of the panel’s recommendations: the proposed royalty increase is only 75 percent of that suggested by the panel and, also contrary to the report’s advice, the royalty rate will vary depending on the price of oil. In this way, the premier suggested yesterday, the government has struck a golden mean: “As future generations look back at today, I believe they will see we were fair and reasonable, not greedy or short-sighted.”

    Perhaps future generations will, but according to today’s Big Seven, current generations are widely displeased. The Globe reports that yesterday’s announcement “infuriated” the oil industry and put the province at risk of losing thousands of jobs, if, as expected, some oil companies pull out of Alberta due to what they see as overpricing. The Post, which bleakly unpacks the likely economic fallout of the policy, is as displeased with the new regime as the oil industry is, likening yesterday’s announcement to “a slap in the face for Alberta.” Meanwhile, the other side of the issue, which goes largely ignored in today’s coverage, and is therein represented exclusively by the “left-leaning” Pembina research group, criticizes Stelmach for not adopting the panel’s recommendations more fully. For Stelmach’s sake, MediaScout hopes the premier reads the Globe: Those pages hold the only editorial (subscription required) in today’s Big Seven that supports Stelmach’s assessment of his own policy as “fair and reasonable,” positing the new scheme as an artful compromise.

    Friday 26 October 2007 Alberta royalty rise: $1.4 billion CALGARY–Alberta Premier Ed Stelmach has decided to at least partially protect the goose that lays the golden egg and increase energy royalties by about 25 per cent less than a review panel recommended.

    Stelmach tiptoes on royalty path
    Confronted with popular demand from Albertans for a greater share of the income generated by their resource birthright, and an oil-patch implacably opposed to a significant hike in the royalties it pays, Premier Ed Stelmach has decided to split the difference.

    Thursday 25 October 2007 Alberta Royalty Review
    Wasn’t last night just a great evening of TV? You had the Detroit Red Wings play the Vancouver Canucks; Red Sox host the Colorado Rockies in game one of the World Series; the Bionic Woman; Charlie Rose (believe it or not, one Morning Coffee scribe plans his evenings around Charlie Rose), and; last but not least, Alberta Premier Ed Stelmach’s television address. Stelmach’s pre-recorded message (complete with scenic shots of the province and background music) gave no specific details about his plans to change the province's royalty regime and left viewers with a “to be continued” cliffhanger. The Alberta premier made “motherhood” statements like: "I promised you a royalty system that works for Albertans - who own the resources - and also for the companies who invest billions of dollars in our economy.”, "The new framework will enable Alberta to plan for a secure future. It will provide the stability and predictability business needs and time to adjust to the changes." and “Decades from now, when our conventional energy resources are gone, our children must be left with an economic foundation for their prosperity.” Stelmach plans to provide full details of changes to the fiscal regime from Calgary today at 3:00 PM (Mountain Standard Time).

    Tuesday 23 October 2007 TORONTO: ALBERTA AGAIN WARNED AGAINST ENERGY TAX INCREASE
    The Alberta government has again been advised of the inadvisability of raising oil and natural gas royalties. TRC Capital Markets, the Royal Bank's investment division, says that acceptance of the advice of an independent panel that the royalties should be raised by an average of 20 per cent would bring short-term gain but also radically alter the government's relationship with energy firms. The bank says the government of Premier Ed Stelmach should focus instead on promoting long-term capital investment. Several major energy firms, including EnCana Corp. and Talisman Energy, have said they'll cut investment by between $500 million and $1 billion if the suggested increase is implemented. Petro-Canada and ConocoPhillips have threatened to quit the province altogether. The premier will announce his decision on Oct. 22.

    CALGARY: BIG LABOUR IN ALBERTA ISSUES WARNING ON ROYALTIES
    Alberta's largest labour organization is threatening to launch an election-style campaign aimed at punishing the governing provincial Conservatives if Premier Ed Stelmach scraps a government-commissioned panel's proposal to raise oil and gas royalties. Alberta Federation of Labour president Gil McGowan says he believes the premier will institute a "watered-down" version of the Alberta Royalty Review Panel's proposal of a 20-per-cent increase in total royalties worth roughly $2 billion per year, if he doesn't outright reject it. Last week Mr. Stelmach said Alberta's current royalty regime has created "one of the most successful economies on earth." He has also said he will not allow oil and gas companies to bully him into making a decision on royalties. The issue has ignited a political firestorm in a province that opinion polls show largely favours the review panel's recommendations. It reached a head recently when hundreds of energy workers nearly came to blows with industry representatives following a rally at the provincial legislature. The industry has made almost-daily threats to trim billions worth of investments and eliminate thousands of jobs if the royalty panel's recommendations are followed.

    Tuesday 23 October 2007 RED DEER: PREMIER DEFENDS ROYALTY RÉGIMEThursday 18 October 2007 EDMONTON: ROYALTY PROPOSAL CONTINUES TO ROIL WAVES
    More than 700 workers in Alberta's energy sector staged a rally outside the provincial legislature on Wednesday to protest against a proposal to increase oil and natural gas royalties by an average of 20 per cent. The proposal came several weeks ago from an independent panel which said in a report that the energy sector has been cheating the government for years and has been hiding internal financial data to that effect. Major and junior energy firms have denounced the panel's report, claiming that it the royalties are increased by 20 per cent they will make reductions that will cost thousands of jobs. Some of the demonstrators in Edmonton on Wednesday echoed that prediction. However on the same day there has been a claim that the 20-per cent figure is itself a vast underestimation of what the oil and gas companies could and should pay. The Parkland Institute, a research group at the University of Alberta, has issued a report that energy taxes and royalties in fact should be boosted by 90 per cent and contradicts claims by companies and investment houses that increased royalties would kill jobs and investments in Alberta. The researchers also recommend public ownership of the province's energy resources.

    Wednesday 17 October 2007 CALGARY: ASIAN BILLIONAIRE EXPANDS HOLDINGS IN OILPATCH
    A Hong Kong-based firm controlled by Asia's richest man, Li Kashing, has bought TransAlta LP, one of Canada's biggest power trusts, for $629 million. His CKI firm says it will pay unit holders $8.39 per unit. TransAlta LP had been controlled by TransAlta Corp. CKI says the transaction is part of an effort to establish itself in North America's energy sector. Li Kashing already controls Calgary-based Husky Energy Inc. TransAlta Power put itself up for sale in May, saying that the federal government's decision to tax trusts at the same rates as corporations meant that its business model was no longer in the best interest of the unitholders.

    Tuesday 16 October 2007 EDMONTON: PREMIER ACCUSED OVER ROYALTY ISSUE
    Alberta's opposition New Democratic Party has accused Conservative Premier Ed Stelmach of meeting secretly with representatives of the energy industry to discuss the controversy over proposed increases in royalties. NDP leader Brian Mason accuses Mr. Stelmach of breaking a promise to Albertans to decide the question in an open and transparent manner. But a spokesman for the premier denies he has met with anyone from the energy industry. Two weeks ago, an independent panel issued a report which claimed that the government has been shortchanged on royalties for years and they they should be raised an average of 20 per cent to bring in $2 billion into the provincial treasury. Last week, Mr. Stelmach was quoted as saying he didn't intend to trash the existing royalty system. In another development, the Canadian Association of Petroleum Producers has issued a report which calls the panel's findings to be founded upon "severely understated industry costs." The report accuses the panel of evaluating the cost of an oilsands project at $4 to $6 billion, whereas the actual cost is $10 to $11 billion

    Monday 15 October 2007 EDMONTON: CANOLA DIESEL PLANT PLANNED IN ALBERTA
    Canada's first large-scale plant to convert canola oil into organic diesel will be built in Alberta. The Canadian Bioenergy Corporation of Vancouver plans to spend $90 million on the plant. The facility will be constructed northeast of Edmonton in an oil refinery centre near an oilseed crushing plant. Canola is Canada's dominant vegetable oil. Canada's government is encouraging the development of renewable fuels. Earlier this year, the governing Conservative Party committed $1.5 billion over the next seven years to develop the country's renewable fuel production.

    Tuesday 09 October 2007 Wed1336 To add fuel to the flames of discussion you may want to pick up William Marsden’s recently published book, STUPID TO THE LAST DROP: HOW ALBERTA IS BRINGING ENVIRONMENTAL ARMAGEDDON TO CANADA (AND DOESN’T SEEM TO CARE). Failing that, read the Globe & Mail Review . The reviewer pounced on Mr. Marsden’s account of a ‘nutty’ plan hatched in the 1950s to release the oil mixed within Alberta’s gritty sand using an underground nuclear blast.

    Tuesday 02 October 2007 EDMONTON: GOVT. ACCUSED OF FAILING TO COLLECT ROYALTIES
    The auditor general of Canada's main energy-producing province, Alberta, has said in his annual report that its government is failing to collect royalties from oil and natural gas firms. Fred Dunn's report says that $1 billion is owed, a sum about which he had previously warned. Mr. Dunn's report also says that Albertans have not for years been told the truth about whether the royalties are being collected or whether the rates are fair and competitive. The auditor general says that Albertans have had to file freedom of information requests to find out information on the subject. An independent panel of experts recently advised the government of Premier Ed Stelmach that the rates were far too low and should be raised by an average of 20 per cent.

    Wednesday 19 September 2007 EDMONTON: ENERGY ROYALTY INCREASES SUGGESTED FOR ALBERTA
    A review of the royalties which the Alberta government charges the energy sector has suggested they be increased significantly. The six-member review panel has turned its report on the subject over to the government and its recommends that the industry as a whole be taxed 20 per cent more. The document says the royalties on the oilsands projects should be increased by 36 per cent. However, the panel says the royalties should be lower on low-production oil and natural gas wells. The result of the changes would be a nine-per cent increase in revenue for the government from natural gas royalties and and 11-per cent boost from conventional oil production. The panel based its recommendation on the consideration that the royalty system hasn't kept pace with world energy markets. The government isn't committed to implementing the recommendations. Energy executives have warned that higher royalties could put a crimp in investment.

    Monday 20 August 2007 EDMONTON: PROTEST FOCUSES ON ALBERTA HOMELESS
    About 200 people took part in a march on Alberta's legislature in Edmonton on Sunday to draw attention to the plight of homeless people in a province with a booming economy. They said that some senior citizens on fixed incomes cannot afford rapidly rising rents. One protester called on Premier Ed Stelmach to stop development and to look more closely at the social and environmental damage caused by the province's valuable oilsands industry. Another protester demanded more new affordable housing and rent controls. Alberta is Canada's wealthiest province as a result of the oil industry.

    Wednesday 08 August 2007 EDMONTON: ALBERTA AGAINST EMISSIONS CAP
    The premier of Alberta, Ed Stelmach, has asked his provincial and territorial counterparts not to attack Alberta's energy policies at the Council of the Federation meeting that starts on Wednesday at Moncton, NB. Mr. Stelmach says he'll reject any suggestion that a cap be placed on greenhouse gas emissions, an idea which he says would be harmful to the entire Canadian economy and not only Alberta's. The premier says that Alberta has done more than some other provinces to alleviate the effects of climate change. Alberta is the source of 39 per cent of greenhouse gas emissions in the country, much of it produced by oilsands developments. . The Council of the Federation exists to provide the provinces and territories a forum to reach common positions on questions involving the federal government.

    Thursday 26 July 2007 EDMONTON: EXPERTS DISAGREE ON OILSANDS DEVELOPMENT
    A committee tasked with delineating the future of the oilsands industry in Canada's main energy-producing province, Alberta, has disagreed on major points, particularly whether there should be a moratorium on their development. The committee members were environmentalists, business people and government officials, who clashed over whether development should be halted until labour and housing shortages have been resolved. The energy industry rejected the idea that a cap for air emissions from new upgraders should be imposed. The industry and government officials also rejected environmentalists' suggestion that the use of water from the Athabasco River be limited. One environmentalist committee member predicted that Albertans will be disappointed that the industry and the government were inflexible on key issues. The committee's chairman said there was in fact agreement on 96 points, saying he regrets that there wasn't on the issue of development.

    Wed1317 30 May 2007 The visit of Governor Schwarzenegger to Canada has generated considerable interest, is regarded as having been productive and has also elicited a number of comparisons to the leadership in Canada, with a definite tinge of envy on the part of Canadians for his enthusiastic leadership on environmental issues and his attitude that "it’s possible to take care of our economy at the same time we take care of our planet". This attitude was greeted with some scepticism by some Wednesday Nighters, but ardently championed by others.

    The Governor's visit to BC also generated discussion of the Hydrogen Highway planned for the 2010 Olympics

    With more evasion than leadership from our federal government, it is virtually certain that our commitments to the Kyoto Protocol will not be met because there are not the carbon-reducing technologies with which to do so. Canada has fallen behind the world, in part perhaps, because we speak of cost rather than investment in becoming more energy efficient. Certainly motor vehicles and farm equipment are more costly than horses, and mechanized equipment more efficient than hand labour, but had the Luddites prevailed, it is doubtful that society could have reached its current level of sophistication. It has been reported that Alberta oil and gas companies are currently supporting Kyoto as the world reacts to Canada’s apparent indifference. We could go back to consuming only local production of food and produce in order to reduce fuel consumption but that would result in inbreeding and protectionism, a retrograde step.

    Monday 14 May 2007 Alberta rethinks royalties
    Federal initiatives have changed oil business outlook, Finance Minister says

    Wednesday 09 May 2007
    Tory green plan favours oilpatch, critics charge
    The Conservative government fended off opposition accusations Tuesday of favouritism for the Alberta oilpatch as various industry groups started raising questions about new federal environmental regulations that make the oilsands the only Canadian sector allowed to increase pollution linked to smog over the next decade.


    Thursday 15 February 2007 Carbon trading would hit 40% of TSX: report
    Companies representing 40 per cent of the Toronto Stock Exchange's total market capitalization would be directly affected by a legislated system of greenhouse gas (GHG) emissions caps and trading, and that impact will be negative for most of them, a new report from CIBC World Markets says.
    ....They said the oil and gas and utility sectors, together with industrial-processing operations such as metal smelting and refining, account for almost half the GHG emissions in Canada. “Those emissions would be the prime targets of any Canadian cap-and-trade system,” they said.
    ... Oil sands ranked second, even though they accounted for only 3.5 per cent of Canada's total GHG emissions in 2004. Mr. Rubin and Mr. Tal said the planned massive expansion of oil sands production will sharply increase the sector's emissions, even though the industry has been significantly improving its emission intensity and has scope to continue to do so.

  • Travel to Alberta for Canadian February 07, 2007 page

    Saturday 20 January 2007
    Dion unaware of Liberal plan to expand oilsands
    Federal Liberal Leader Stephane Dion says he knew nothing about a plan to massively expand production in the Alberta oilsands to meet the demand in the U.S., even though discussions on speeding up the regulatory review process were launched by former prime minister Paul Martin when Dion was the environment minister.

    Thursday 18 January 2007
    eco
    Oilsands tax incentives questioned
    Environment Minister John Baird hinted Wednesday his government is considering eliminating tax incentives introduced in the 1990s to boost production in Alberta’s oilsands.

    Monday 15 January 2007
    Ralph Klein resigns Calgary seat today
    The man who guided Alberta from austerity to prosperity over 14 colourful, tumultuous years dots the last I and crosses the final T today in his departure from public life.

    2006

    Fri 22/12/2006 ALBERTA RECORDS BOUNDING DEMOGRAPHIC GROWTH
    Statistics Canada reports that the population of the western province of Alberta increased by more than one per cent in the third quarter of the year, standing on Oct. 1 at 3,413,500. Alberta's population thus grew at a faster rate than in any quarter in the past quarter of a century. Fuelled by its booming energy sector, the province is experiencing the most intense period of economic growth for a province in Canadian history, according to a study in the Canadian Economic Observer. StatsCan also reports that migratory losses to Alberta from Ontario and Quebec have tripled over the past year. The agency says that Ontario's net demographic growth would have been negative were it not for immigration from abroad. Ontario attracts more immigrants than any other province.

    Wed 20/12/2006 EXODUS OF EASTERN WORKERS GROWING
    A report by the Atlantic Economic Council of Canada says that the departure of workers from eastern Canada to the booming western province of Alberta has taken on alarming proportions, hurting the region more than previous waves of emigrations in the 1980s and 1990s. The report says 13,000 workers from the four provinces of eastern Canada left for Alberta to look for work in the 12 months following July 2005. The document attributes the allure of Alberta to its prosperous oil industry. The Council also worries about the low birth rate in Atlantic Canada and its inability to attract as many immigrants as other parts of the country.

    Thursday 07 December 2006 CALGARY: NEW PREMIER DISMISSES SUDDEN DECISIONS ON OILSANDS
    Alberta's premier-in-waiting, Ed Stelmach, has dismissed the idea that he'll move to slow down the burgeoning growth of oilsands developments. Mr. Stelmach told the provincial legislature that the economy itself will sort out any problems caused by that growth. However, he conceded that mounting social costs have to be taken into account in connection with the oilsands. The new Tory leader says as well that he wants more crude from oilsands to be refined in the province. Mr. Stelmach was elected to replace Ralph Klein as the Progressive Conservative leader during the weekend. In recent months, there has been debate in Alberta whether the energy sector is paying the government sufficient royalties to enable it to provide roads, hospitals and schools for those who are enticed to Alberta by the sector. Critics say this isn't the case, while oil and natural gas companies contend that they need more financial flexibility to deal with the huge costs involved in oilsands projects. Mr. Stelmach assumes office on Dec. 15.

    Monday 04 December 2006 EDMONTON: ALBERTA HAS NEW CONSERVATIVE PARTY LEADER
    Ed Stelmach was chosen to succeed Alberta's premier Ralph Klein by delegates at the Conservative Party leadership convention on Saturday. Mr. Stelmach is a 55-year-old farmer from a rural constituency north of Edmonton. He once held a portfolio in Mr. Klein's cabinet. His victory over two remaining rivals at the convention was a surprise. Mr. Stelmach took only 15 per cent of the ballots during last week's first round of voting. Analysts had predicted that front-runner Jim Dinning, a former provincial treasurer, would clinch the premiership. Mr. Klein was premier for 14 years.

    Sunday 26 November 2006 TORONTO: CANADA'S GOVERNMENT CONSIDERS ACTION AGAINST FOREIGN TAKEOVERS
    A Canadian newspaper reports that Canada's government is worried about foreign takeovers of Canadian assets. The Globe and Mail says that the Conservative Party government is considering plans to block takeovers by foreign state-owned companies if the takeovers seem to pose a threat to Canada. State-owned companies in China appear particularly threatening. But companies in other countries such as Russia, Saudi Arabia, Iran and Venezuela are also causing worry. The government's concern was briefly mentioned by Finance Minister Jim Flaherty in his economic statement earlier this week. Among Canadian assets thought to be vulnerable are the valuable oil-producing regions in the province of Alberta.

    CALGARY: ALBERTA CONSERVATIVE PARTY BEGINS CHOOSING NEW LEADER
    Members of Alberta's Conservative Party began voting on Saturday for a new leader to replaced Premier Ralph Klein, who is stepping down after 15 years in power. Eight candidates are in the running, including former treasurer, Jim Dinning, and former cabinet ministers Lyle Oberg, Ed Stelmach, Dave Hancock, Mark Norris and Victor Doerksen. All candidates worked hard to encourage their supporters to vote, a move seen as crucial to victory. But temperatures on Saturday were below freezing, a fact that some candidates feared would discourage older supporters, rural residents and less-committed party members from going out to vote. If no clear winner emerged, the leading three candidates would face off in a second round of voting the following Saturday. The winning candidate will have control over Canada's richest provincial treasury thanks to Alberta's bomming oil industry.

    Monday 13 November 2006 CALGARY: MIDDLE EAST COMPANY BUYS CANADIAN OIL AND GAS FIRM
    Dana Gas PJSC of the United Arab Emirates will buy the Canadian oil and gas company, Centurion Energy International of Calgary, for CDN$1.15 billion in a friendly takeover. Takeover talks began on October 31. The deal is slated to be concluded in January. The offer represents a premium of almost 56 per cent over the company's recent average share price. Dana Gas has major operations in Egypt. Established in 2005, it is the first regional private-sector natural gas company to operate in the Saudi Arabian region. Several other international energy companies based in Calgary have a focus in the Middle East.

    Tuesday 10 October 2006 EDMONTON: PRAIRIE PROVINCES WORRIED ABOUT FALLOUT FROM OILSANDS
    The governments of the western Canadian provinces of Alberta and Saskatchewan are worried about the increased air pollution resulting from increased exploitation of their oilsands developments. Officials from the provinces have revived a 2002 accord for co-operation in coping with transborder environmental effects and have met several times this year to discuss the problem. Data made public last month revealed that acid rain, once thought to be a problem affecting eastern Canada alone, is damaging Saskatchewan's soil and animal life. The damaged land lies in the path of prevailing winds blowing east from the oilsands projects. The developments released 50 tonnes of nitrogen oxides per day into the air in 1990, a figure that's expected to reach almost 400 by the end of 2006.

    Sun 08/10/2006 rci Alberta's Better Business Bureau is receiving a growing number of complaints from angry customers and consumers. More than 300 complaints have been sent so far this year, more than double the number at the same time last year. Many more customers also filed phone complaints. Alberta is going through a labour crunch, forcing employers to hire people who do not have the proper experience or skills. Customers are angry about the low level of quality of tradespeople and servicemen. Some workers are reported to be failing to show up for work or leaving their jobs without warning because of boredom. The Canadian Federation of Independent Business is sending questionaires to 9,200 Alberta members this week to ask how they'd like to handle the labour crisis.

    Saturday 07 October 2006 EDMONTON: HEALTH CARE IN OILSANDS AREA IN STRAITS
    The health-care authorities in Alberta's booming oilsands region says they haven't been able to keep up with the boom. That's the word from Dr. E. Sandra Corbett, the president of the Northern Lights Health Region's medical staff, the region centred on Fort McMurray. Dr. Corbett says the doctors don't have a position on future oilsands development, but says that the development that has occurred has surpassed the ability of local medical personnel to deal with it, and that patients' welfare is now at risk. Fort McMurray now has 44 family physicians and specialists to care for a population of 80,000. Dr. Corbett says twice that number are at present needed, and five times that number within five years. She also says doctors face soaring overhead costs, a shortage of office staff and growing house prices. Dr. Corbett made her remarks in a presentation to the Oilsands Consultation Group Multi-stakeholder Committee, which will deliver a report on the general situation next month.

    Former U.S. Federal Reserve chairman Allan Greenspan says Alberta's oilsands have the potential to turn Canada into a superpower energy producer. However, he added that the extraction of bitumen remains a complex process for which great amounts of natural gas are needed. Mr. Greenspan also says that there is a limited amount of crude processed from the bitumen that can be refined in the U.S. because of a shortage of refineries. However, he noted that the rising price of oil has forced Americans to try new technology and alternate fuel sources like ethanol. Regarding global warming, he acknowledges that greenhouse gases are causing it, but warns against efforts to legislate reductions of energy use because they won't work.

    Friday 06 October 2006 CALGARY: U.S.-CANADA OILSANDS PARTNERSHIP ANNOUNCED
    Canadian and U.S. energy giants Encana Corp. and ConocoPhillips respectively have concluded an agreement to exploit together Encana's oilsands assets in northeastern Alberta. The two firms will co-operate to exploit Encana's two oilsands projects near Fort McMurray. The projects contain 6.5 barrels of recoverable bitumen, the raw material from which synthetic crude is made. Current production from the projects in the Athabasca region is 50,000 barrels a day, a figure which the partners want to multiply by eight. A product comprising half-and-half bitumen and synthetic crude will be refined at two ConocoPhillips refineries near Chicago and another in Texas. Each company will own one-half of the joint venture. Financial terms haven't been disclosed.

    Thursday 24 August 2006 EDMONTON: ALBERTA SURPLUS BULGES
    The government of Canada's main energy-producing province, Alberta, has revised upwards its expected first-quarter budget surplus to $5.6 billion. The government says the upwards recalculation is due to higher-than-expected income tax and energy revenue. Two-hundred-million-dollars of the surplus will be devoted to capital spending for schools, medical equipment, a police technology system and a justice building in Edmonton.

    20 June 2006 nyt Video Tropical Arctic The Times's Andrew C. Revkin discusses several new scientific papers that say the Arctic was possibly far warmer than we thought 55 million years ago. (Produced by Erik Olsen)Related Article

    Tue 04/07/2006 rci Alberta Premier Ralph Klein says he doesn't exclude the possibility that residents could receive more rebate cheques paid for out of his government's expected budget surplus of $8.7 billion this year. But Mr. Klein says it's up to his caucus to decide whether to save some of it, to spend it on infrastructure projects or to invest it in rebates. The premier says the possibilities will be thrashed out at next Monday's caucus meeting. The government mailed cheques of $400 for every resident, a measure that cost the treasury $1.3 billion earlier this year. Mr. Klein is expected to retire from politics by the end of the year. Several contenders for his position reject the idea of more rebates.

    Thu 15/06/200 OTTAWA: ALBERTA BIGGEST POLLUTER
    Statistics Canada reports that the western province of Alberta is Canada's biggest source of industrial pollution. The federal agency says 99 industries alone in the province produced 15 per cent of Canada's greenhouse gases in 2004. Ontario was second with 10 per cent of the total and Quebec third with three per cent. Alberta is the country's biggest energy-producing province. Its oilsands developments are a particularly large source of toxic industrial emissions.
    In related news, the chairman of Alberta's energy and utilities board, Neil McCrank, says that only 2.8 per cent of the province's estimated oilsands deposits have been exploited, despite 40 years of production. Mr. McCrank says the oilsands reserves are now estimated at 174 billion barrels, information that the world should bear in mind. Earlier this month, the National Energy Board predicted that oilsands development will triple in the next 10 years to three million barrels a day.

    Tuesday Jun 6, 2006
    Alberta oilsands project iffy
    The fate of an almost $10-billion US proposed bitumen upgrader, refinery, petrochemical and electrical generation facility is uncertain, Energy Minister Greg Melchin said Monday as Alberta released details of the project for the first time.

    Saturday May 20, 2006
    Klein bids teary farewell
    A teary-eyed Premier Ralph Klein officially said goodbye Thursday to the legislative assembly during a 35-minute multi-party tribute that featured nearly five minutes of standing ovations.

    Monday May 1, 2006 Alberta, B.C. sign trade agreement
    "Our larger economy and freer trade environment will build prosperity for both our provinces and give us a stronger economic voice as we attract investment and entrepreneurs, and offer a larger range of choices for consumers and for workers," Alberta Premier Ralph Klein said in a statement." Our provinces have set a new standard for what interprovincial trade can and should look like."

    Saturday Apr 22, 2006 Klein too free with Alberta's money
    Ralph Klein should know better than to try and foist another round of rebate cheques on Albertans as he heads out the door.

    Find search Wn for Ralph Klein

    Wednesday Apr 5, 2006 http://www.maisonneuve.org KING RALPH STEPS ASIDE
    The Globe fronts and the rest of the Big Seven go inside with Alberta premier Ralph Klein’s decision to leave politics later this year. After losing the confidence of his party last week during an annual leadership review, Klein announced yesterday that his twenty-six-year political career would be ending sooner than he expected, but stated that he could not continue to govern in light of his 55-percent-approval-rating results. According to Jeffrey Simpson in the Globe, little will be accomplished in the province for the rest of 2006, between leadership-hopeful posturing and Klein’s lame-duck status, where any decision taken now could be overruled by a new premier. The highest-profile replacement mentioned so far is Preston Manning, former Reform Party leader, who is said to be interested in forming a new political party to serve as a vehicle for his political return. In the Star, Thomas Walkom suggests that Klein’s departure will also signal an end to a “third way” medicare challenge, as a bill has yet to be tabled and the legislature won’t likely meet in the fall before the selection of a new leader.

    rci The premier of Canada's province of Alberta appears resigned to quitting his position earlier than he had planned. Ralph Klein says he'll ask his governing Progressive Conservative Party in September to set a date for a leadership convention. Mr. Klein acknowledged in remarks at the legislature in Edmonton that his decision had been influenced by the results last weekend of a vote on his leadership at the annual party convention. Delegates approved Mr. Klein's leadership but only by 55 per cent. The premier had said that his present fourth term in office would be his last but that he wanted to depart in October 2007. Mr. Klein has been premier for 13 years and as such is Canada's longest-serving premier. During his term, he has used revenues from the province's energy riches to make Alberta Canada's only debt-free province.

    Monday Apr 3, 2006 rci Statistics Canada says that population growth in the province of Alberta is inceasing more than five times the national average, and that's creating stress on municipal services. Alberta is wealthy from its oil industry, and people from other parts of Canada are flocking there to find work. The city of Calgary in particular is seeing problems associated with rapid growth, such as increased traffic on streets. Local politicans say that municipalities are failing to provide adequate housing, roads and social services. The province has set aside CDN$13.3 billion for infrastructure projects over the next three years. Real estate prices and rental rates are rising rapidly. In Calgary, the average price of a house rose by almost 25 per cent last year. Alberta has about three million people. Last fall, 25,000 people moved to the province.

    Sunday Apr 2, 2006 ts Klein gets only 55% support as leader
    In what could only be seen as a crushing blow, Premier Ralph Klein received just 55 per cent support early Saturday in his bid to retain the leadership of Alberta?s Conservative party.

    Sunday Apr 2, 2006 rci Premier Ralph Klein of Alberta expressed dissapointment when he received only 55 per cent support in his bid to retain the leadership of Alberta's Conservative party. About 1,200 delegates attended the review convention in Calgary this weekend. In previous votes, he regularly received overwhelming support of 90 per cent. In a brief statement after the vote, Mr. KIein said that he would like a few days to meet with his staff, caucus and party officials before he decides what to do next. Mr. Klein led the party to four majority governments over 13 years. The most recent election was just 16 months ago. He is credited with making Alberta the country's only province without debt. Some party members thought that Mr. Klein might announce plans to speed up his announced departure date in March, 2008.

    Thursday Mar 23, 2006
    Albertans get modest tax relief from $4B surplus
    Albertans will see only modest tax relief in today’s provincial budget although health and education are getting major boosts in spending.

    Thursday Mar 23, 2006 rci The Alberta government has presented a new budget which increases spending considerably. The budget calls for spending of $4.1 billion, the largest in the history of the western province. Spending for post-secondary schools will rise by almost 30 per cent over three years and add thousands of new spaces for students and apprentices. The budget also cuts the corporate tax rate from 11.5 to 10 per cent and the personal income tax by an average of $35.

    Friday Mar 17, 2006 ts A home away from home for the business traveller
    CALGARY, ALTA—Business is booming here. Oil revenues have brought tremendous wealth to Alberta and its largest city. <{>Thursday Mar 16, 2006 Alberta Premier Ralph Klein says he'll leave office at the end of October 2007. However, Mr. Klein also says he would leave earlier if his Conservative Party doesn't strongly support his leadership at its general meeting at the end of the month. The premier had said earlier that he would retire either in late 2007 or early 2008.

    Tuesday Mar 14, 2006
    Klein to retire in October 2007
    Ralph Klein will step down as Alberta premier in October 2007, the Calgary Herald has learned. Klein will end more than two years of speculation when he tells the annual general meeting of the Progressive Conservative Party of Alberta on March 31 that he'll retire in exactly 19 months.

    Tuesday Mar 14, 2006 rci CALGARY: ALBERTA COMPANY PREPARES LEGAL BATTLE WITH HEALTH CANADA
    As it prepares for a legal battle with the government on Monday, TrueHope Nutritional Support of Alberta is accusing Health Canada of bias against alternative health products. The company markets nutritional supplements to treat mental illness. On Monday, it will appear in a court in Calgary to answer charges that it sold its supplement, a mix of 36 minerals, vitamins and anti-oxidants also found in ordinary food products, without a proper drug number in 2003. The maximum fine is CDN$500. "This is really about bankrupting our company and trying to put us out of business," said Tony Stephan, company CEO. He said that the company has spent CDN$300,000 in legal bills. A slightly altered version of the supplement has been approved by Health Canada's natural health products division since 2004, when legislation governing such products changed. Health Canada spokesman Chris Williams says that the company failed to provide evidence that the supplement was safe and effective. But Mr. Hardy says that he's been frustrated with Health Canada's refusal to investigate whether the claims of success have merit. In 2002, Health Canada shut down a clinical trial of the supplement at the University of Calgary and funded by the Alberta government.

    Friday Mar 3, 2006 globe Klein willing to defy Ottawa
    Premier says medicare plans 'may violate the Canada Health Act'

    maisonneuve.org PRIVATE HEALTHCARE CHICKEN
    The Globe and the Post lead, the Citizen fronts and the Star, the National and La Presse (not available online) go inside with reaction to Ralph Klein’s “Third Way” proposal for health-care reform in Alberta. Klein admitted that the ten-point proposal “may violate the Canada Health Act” at a press conference yesterday, but is gearing up for a fight with the federal government should it try and prevent its implementation. Though Stephen Harper declined to issue a full assessment of his home province’s proposal to allow patients to pay for faster access to non-emergency procedures, among other controversial changes, he did encourage “the provinces to follow Quebec's—and not Alberta's—proposals for health care reform,” reports the Star.

    The Globe’s John Ibbitson says Harper is effectively handcuffed by Klein’s proposal because criticizing it would make him “look like a fool and a hypocrite.” Ibbitson reminds readers that Harper co-wrote the infamous Alberta “firewall” letter that urged the province to assert its autonomy over health-care matters and that “Ottawa has no real power to punish Alberta by withholding health-care transfers—those transfers are now the equivalent of a rounding error in the Alberta budget.” The Citizen offers a rare endorsement of the proposal in its editorial, calling Klein’s “Third Way” a “necessary experiment.” It suggests that “at last, we'll start to see hard evidence for or against each approach.”

    Thursday Mar 2, 2006 maisonneuve.org THE BELL TOLLS FOR MEDICARE
    by Simon Tudiver It’s an issue that could be cast in terms of ideology or equality; of pragmatism or national pride: the debate over private health care, which had been slowly simmering, now seems to be boiling over in Alberta. Yesterday, Premier Ralph Klein finally announced an overhaul of his province’s health-care system, which will include a prominent role for private insurance. The controversial and Conservative Klein has wanted to change the system for years; he has decided to forge ahead on it now, in his final term. The move comes on the heels of a similar proposal by Quebec to allow private clinics a limited role in the public system and of hints from BC that it will look into doing the same (the Post follows BC premier Gordon Campbell on his visit to a private hospital in Sweden). But the Big Seven (except La Presse, which buries the story) are all quick to point out the big difference between the Quebec and Alberta plans: whereas Quebec is keeping a rule that forces doctors to choose which system—public or private—to practise in, Alberta is scrapping it. That means doctors could split their time between private, paying customers and publicly funded procedures. The concern, the Star’s Thomas Walkom explains, is that the time a doctor spends with a private-pay patient will be time taken away from public patients, meaning “waiting times within the public system will rise”—not to mention the inevitable monetary draw, which may drain other provinces of much-needed specialists.

    On top of the issue of doctors’ divided loyalties lies the question of whether this plan violates the Canada Health Act. No one seems to know for sure, including Health Minister Tony Clement who “says he has to examine it in more detail,” the Post writes. Clement vowed to look at the proposal “through the prism of accessibility” rather than conformity to the act. The Globe offers by far the most in-depth coverage, devoting two front-page stories as well as a two-page spread on the political and medical implications of Klein’s move. Brian Laghi examines Stephen Harper’s possible strategies, arguing the PM ought to “slap down” Klein to save his own hide and keep his promise to maintain the integrity of the Health Act. John Ibbitson is today’s most vehement critic, writing that Klein’s plan “marks the beginning of the end of medicare as practiced today in Canada; the end of the Canada Health Act, at least as conventionally interpreted; the end of the world’s only publicly funded health-care delivery system; the end of the guarantee that only need, and never wealth, will determine who gets served first.” A sad pronouncement for what is supposed to be one of this country’s most vaunted institutions.

    Thursday Mar 2, 2006 globe Alberta reshapes medicare Plan allows patients to pay for fast access, MDs to offer both public and private care

    Tuesday Feb 28, 2006 globe Alberta surplus $10-billionAs surplus grows, so does criticism of government's lack of long-term plan

    Tuesday Feb 28, 2006 globe Oil Sands posts profit Energy producer swings to fourth-quarter profit, before payment of dividends, of $43.4-million

    Tuesday Feb 28, 2006 globe Oil Sands posts profit Energy producer swings to fourth-quarter profit, before payment of dividends, of $43.4-million

    Tuesday Feb 28, 2006 maisonneuve.org/
    THE ALBERTA MONEY PATCH by Philippe Gohier
    To the surprise of, well, no one really, Alberta is once again brimming with cash. The newly debt-free province raised its annual surplus projection and it's a whopper: $7.4 billion. It would have been even higher had it not instituted two projects to return some of that money to taxpayers. The surplus would have topped $10 billion had the province not mailed $1.3 billion in "prosperity bonuses" to Albertans or redistributed another $1.4 billion in energy rebates and other discretionary spending. Already far and away, the country's wealthiest province, Alberta's surpluses are now set to exceed those of the federal government.

    Although The National's suggestion (not available online) that Alberta's surplus
    is "enough to give a dollar and some change to everyone on Earth" does put the massive surplus into some context, the Post's chart of other provinces' respective deficits and surpluses provides a much clearer picture. Ontario weighs down the debtor's end of the chart, facing a cumulative $2.2 billion deficit, with Newfoundland and PEI following with deficits of $708 million and $33 million, respectively. Ontario has been vocal in expressing its grievances over the issue of fiscal imbalance with the federal government and Newfoundland has expressed a desire to retain its offshore oil revenues (rather than send them to the federal government) in order to minimize its shortfall. And despite its zero-deficit status, Quebec has led the charge to get Ottawa to send more money the provinces' way. That being said, the Post's figures also show that the federal government's surplus is set to top out at $7.3 billion, $100 million less than the Alberta government's. With the Conservatives' election promises to the fix the fiscal imbalance still very fresh in many voters' and politicians' minds, MediaScout wonders whether the disparities highlighted by the Post will spark a call for a new wealth-distribution plan among the provinces, many of whom no doubt want a piece of Alberta's not-so-humble pie.

    Stephen S. Poloz VP EDC Economics Weekly Commentary
    Alberta energy exports to moderate as agri-foods accelerate in 2006
    CALGARY – November 23, 2005 – Alberta’s exports are expected to grow by 4 per cent in 2006, a moderation from the hefty gains of 12 per cent in 2005 according to Stephen Poloz, Senior Vice-President and Chief Economist of Export Development Canada (EDC). Mr. Poloz delivered his export forecast today to Albertan business leaders in Calgary. Past issues | his WN page


    2005

    Tuesday Nov 8, 2005 rci EnCana Corp., Canada's biggest independent energy firm, says it's looking for a partner to support its plan to invest $5 billion more in its oilsands investment in northerneastern Alberta. EnCana's COO, Randy Eresman, says an ideal partner would be a firm that has expertise in upgrading and refining. EnCana has title to 4,800 square kilometres of oilsands in Alberta. One possible partner is the U.S. oil refiner Valero Energy Corp. The two companies are working on a feasibility study to upgrade the American company's refinery, in Lima, OH, to be able to process Canadian heavy oil.
    Canadian Environment Minister Stephane Dion has said the plan will disrupt a caribou herd that migrates through the Yukon to the refuge.
    He said that would make life harder for aboriginals who depend on the herd for food. [big deal?]

    Sunday Oct 23, 2005 ts Canada doesn't have oil, Alberta does, and U.S. is our main trading partner, says Rondi Adamson


    The United States does not have too much "control" of our oil. The idea that it does — because, under NAFTA, we sell a certain proportion of oil to the United States — shows a failure to understand any number of things.

    Friday Oct 14, 2005 rci The National Post newspaper reports that plans are underway to build what would be the first new oil refinery in North America in more than a quarter of a century. The newspaper says that the Alberta government and 16 industry sponsors are considering spending $7 billion to build a huge refinery at Red Water, east of Edmonton. Accord to The Post, the facility could start processing 300,000 barrels of oil a day in 2012, with a possibility of later expansion to 450,000 barrels a day. Seventy per cent of the plant's capacity would be used to process bitumen from the provinces oilsands developments, with the rest devoted to producing petrochemicals.

    Saturday Oct 1, 2005 globe
    Oil sands worth $1.4-trillion, study finds

    That's trillion, with a t — and Alberta and Ottawa are expected to vie for lion's share

    nyt A Quest for Oil Collides With Nature in Alaska By FELICITY BARRINGER
    The North Slope of Alaska, home in summer to 50,000 to 90,000 migratory birds, is also thought to be brimming with oil.

    Saturday Oct 1, 2005 rci Researchers predict that that Alberta's oilsands development will be generating $1.19 trillion US by 2020. The Canadian Energy Research Institute based its study on the assumption of oil costing $40 US a barrel, a price that is $25 US lower than present prices. The Institute also predicts that the percentage of Canada Gross Domestic Product generated by oilsands projects will grow from 1.5 per cent to three per cent by 2020. The researchers also advise, however, that 85 billion US will have to be invested in the projects in northeastern Alberta. Since 2000, rising oil prices and improved extraction methods have made oilsands development more profitable.

    Saturday Oct 1, 2005 rci A study by independent researchers claims that the federal government will reap a considerable amount of the revenue generated by Alberta's oilsands development. The report by the Canadian Energy Research Institute says that Ottawa will collect more than two-fifths of the revenue which governments will receive from the oilsands project between 2000 and 2020. The document says that personal, corporate and indirect taxes will contribute $51 billion to the federal coffers during that period. The researchers say the Alberta government would receive the second-highest amount of revenue at $43.7 billion. The findings are likely to become an argument in the discussions about whether the province should share more of its energy revenue with the rest of the country.

    Sunday Sep 25, 2005 rci CALGARY: FRENCH FIRM INVESTS $9 BILLION IN OILSANDS
    The French energy firm Total, the world's fourth-biggest, has announced that it expects to invest $9 billion US in its newly acquired oilsands stake in northern Alberta. Of that sum, $1.58 billion will be paid to acquire junior energy firm Deer Creed Energy Ltd., the main asset of which is an 86-per cent share of a lease 60 kilometres north of Fort McMurray. Total's president of exploration and production, says his company is in Alberta for the long term. He also says Total will acquire natural gas assets in Western Canada, as an insurance against high production costs at the oilsands project.

    Sunday Sep 11, 2005 ts WHAT GOES UP...
    Is Alberta's current oil boom — the third in the relatively brief history of the Canadian oilpatch — a sustainable and unalloyed good-news story for the nation's second-richest province?

    Friday Sep 9, 2005 rci Teck Cominco Ltd. has become the first Canadian miner to make a major investment in Alberta's oilsands developments. Teck will pay $475 million for a 15-per cent share of the Fort Hills project. PetroCanada is the major stakeholder, and UTS Energy Corp. has a minority share. PetroCan's senior vice-president of oilsands, Brant Sangster, says the consortium acquires in Teck a huge expertise in mining. Until now, companies operating oilsands projects have preferred to develop their own mining expertise

    Saturday Sep 3, 2005 rci Canada has promised to increase oil production to try to help stabilize skyrocketing oil prices. The prices were already soaring before the damage caused by Hurricane Katrina pushed them even higher. Canadian Prime Minister Paul Martin says Canada has responded to a plea by the 26-member Paris-based International Energy Agency. The Agency has asked its members that have oil reserves to draw upon them and member states who don't have such reserves to increase production for export. Mr. Martin says Canada, as an exporting state, doesn't have any reserves but will therefore do its part by increasing production. The Agency wants Canada and the other member nations to make available a total of two million barrels a day toward price stabilization. The U.S. itself would contribute 44 per cent of that amount from its own federal reserve. But the premier of Alberta, Ralph Klein, says that his province's refineries are already operating at full capacity and that Canada's main energy-producing province cannot deliver more oil.

    Thursday Aug 18, 2005 rci A spokesman for U.S. Vice-President Dick Cheny says he will visit the oilsands developments in northern Alberta early next month. The spokesman said he had no details regarding Mr. Cheney's itinerary. The White House hasn't confirmed the report of the visit. Earlier last month, U.S. Treasury Secretary John Snow visited the oilsands projects accompanied by Canadian Finance Minister Ralph Goodale.

    Thursday Aug 18, 2005 rci Two western news agencies report that China's biggest oil producer, PetroChina Co., is interested in acquiring Calgary-based PetroKazakhstan Inc. PetroChina hasn't confirmed the report. The two agencies also say that a joint venture by India's state energy firm, Oil & Natural Gas Corp. Ltd, and a company controlled by a steel magnate in London also met a Monday deadline for bids, a bid which has been confirmed. PetroKazakhstan has a current market value of $3.4 billion Cdn. Since rumours began to swirl about a takeover about a takeover, the Canadian company's stock value has risen 60 per cent. The company based in the western Canadian province of Alberta does all of its oil extraction in the Central Asia state of Kazakhstan.

    Saturday Aug 13, 2005 ts Alberta awash in oil, gas money
    A headline in an Alberta newspaper this week said that the provincial government has "money to burn."

    Saturday Jul 30, 2005 rci Canadian Natural Resources says its Horizon oilsands project in Northern Alberta is being developed on time and on budget. The big Calgary energy company's project is one of many oilsands developnents or expansions proposed in the Canadian energy sector to meet growing demand for oil in Canada and the United States. Pipeline and refinery expansions are part of the plan to carry more oilsands crude to market.

    Monday Jul 18, 2005 PETER HADEKEL Soaring oil price puts Alberta in driver's seat And that's going to tilt opportunity in Alberta's favour, putting significant strains on the economy and federalism.

    Sunday Jul 10, 2005 rci FORT MCMURRAY: U.S. FINANCE BOSS VISITS OILSANDS
    U.S. Treasury Secretary John Snow on Friday visited the oilsands developments of northeastern Alberta, in the company of Canadian Finance Minister Ralph Goodale. Mr. Snow also was accompanied by officials of Suncor, Syncrude Canada and Albian Sands. The secretary overflew the area and then took a bus tour. Mr. Snow said afterwards that he hadn't realized before the overflight the potential of Canada's oilsands developments, adding that he'll discuss them with U.S. President George W. Bush and Vice-president Dick Cheney upon his return to Washington. After Mr. Snow's visit to Fort McMurray, he and Mr. Goodale flew back to Calgary for further talks.

    Thursday Jul 7, 2005 rci Canada agriculture minister, Andy Mitchell, has announced that the government will invest $46 million to build or to enlarge five plants to produce ethanol. The alternative fuel is less polluting than gasoline and is made from grain or vegetables. Three of the plants are in Ontario, and one each in Manitoba and Alberta. The federal government had already invested $72 million in six other ethanol projects.

    Friday May 27, 2005 ts Scientists discover the birthdate of oil
    OTTAWA—Researchers in Alberta have discovered a "time key" that unlocks the previously unknown birthdate millions of years ago when oil reservoirs formed under great pressure — a new dating technique that experts say should make it faster and cheaper for oil companies to develop subterranean fields.

    Friday Apr 15, 2005 rci CALGARY: CHINA SHOWS MORE INTEREST IN OILSANDS
    For the second straight day on Thursday, there's a report of Chinese investment in Canada's oilsands industry in the country's west. One of the major Canadian energy firms, Enbridge Inc., says it has signed a preliminary agreement with PetroChina to participate in the financing of pipeline that would convey crude oil from the province of Alberta to the Canadian west coast for reshipment to Asia. The project would cost $2.5 billion. Enbridge says that its president, Pat Daniel, signed the preliminary accord with PetroChina on Thursday in Beijing. Mr. Daniel says that under the terms of the preliminary agreement, PetroChina wants to assume the purchase of about one-half of the proposed Gateway Pipeline's expected transmission of 200,000 barrels of synthetic crude a day. But Enbridge also says that a long-term agreement with the Chinese still has to be negotiated. Earlier in the week, the Chinese energy firm CNOOC Ltd. announced that it had acquired a 17-per cent interest in a privately held Canadian oilsands operator, MEG Energy Corp., for $150 million.

    Saturday Mar 26, 2005 CALGARY: SHELL REPORTED MULLING OILSANDS EXPANSION
    One of the partners in the consortium led by Shell Canada Ltd. that is exploiting the Arthabasca Oil Sands Project in Alberta says consideration is being given to the possibility of expanding it greatly. The CEO of Western Oil Sands Inc. says the partners are debating whether to invest up to $4.5 billion to increase production to as much as 600,000 barrels a day by 2017. Current production is about 150,000 barrels. Guy Turcotte says the expectation that oil prices will remain above at least $30 US a barrel in the foreseeable future make such an expansion financially viable.

    Tuesday Mar 22, 2005 rci TORONTO: COMMODITY PRICES FUEL NORTHERN, WESTERN ECONOMIES A report by the Toronto Dominion Bank says that booming world commodity prices are powering Canada's resource-based industries, particularly in the country's north and west. The report says the prices for crude oil, natural gas, and forest and metals products are fuelling growth in those regions, revving up corporate profits and job creation. The report says the economy of the Northwest Territories is being fuelled by diamonds, oil and natural gas and other commodities. TD also says Newfoundland and Labrador, Alberta, Saskatchewan and British Columbia are also prospering on the strength of commodities. However, the study also reports that the economies of the central provinces of Quebec and Ontario are suffering from the high Canadian dollar, as is Atlantic Canada as well.

    Tuesday Mar 1, 2005 CALGARY - Greg Melchin, Alberta's Energy Minister, said he is "nervous" at the prospect of state-owned enterprises, such as ones run by the Chinese, buying into the province's lucrative oilsands.
    Foreign government-ownership, divorced from the discipline of market forces, could see Alberta bitumen, the heavy tar-like oil mixed with sand deposited in the province's northeast, diverted out of the country for upgrading and processing elsewhere, he said. ...
    Delegations of Chinese oil executives, including those from Petro-China and Sinopec - China's two largest oil companies - have met with Alberta's key oilsands players in the past months, raising questions about whether Chinese government-controlled companies are looking to secure Canadian resources to fuel China's booming economy.
    All of Canada's oil exports currently go to the United States because of the reach of pipelines, but China appears keen to change that. Both Petro-China and Sinopec are in discussions with Enbridge Inc., Canada's second-biggest pipeline company, over a proposed $2.5-billion pipeline from Alberta to the B.C. coast to export Alberta's oil to California, China and other markets.

    rbc ds Thursday Feb 3, 2005 Canadian Oil Sands Trust (TSX: COS.UN) Underperform Average Price: $73.35 Target: $60.00
    Canadian Oil Sands Trust announced an unsuccessful start-up of their hydrogen plant, which recently completed regular maintenance. To optimize production, a scheduled turnaround in Q2/04 has been advanced to Q1/04.
    We are maintaining our recommendation of Underperform, Average Risk with a $60.00 target price.

    Monday Jan 31, 2005 Canadian Oil Sands Trust (TSX: COS.UN) Underperform Average Price: $76.98 Target: $60.00
    Canadian Oil Sands Trust reported fourth quarter CFPS of $1.33, lower than our estimate of $1.53 and consensus of $1.54.
    Canadian Oil Sands Trust is trading at the highest P/NAV relative to other oil sands investments such as SU, SHC, or WTO. There appears to better value with the aforementioned investments. Consequently, we are maintaining our rating of Underperform, Average Risk.

    see WN Oil Notes | W-N Oil Archives back to November 1999 Available on request

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