CALGARY — A 13 per cent cut in capital spending to between $2.8 billion and $3.1 billion in 2014 announced Thursday is all part of the plan, not a reaction to outside forces, according to the CEO of Cenovus Energy Inc.
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Officials with the city’s Energy Division say current operations at the Manyberries oilfield will likely be grandfathered against incoming environmental regulations, but they are anxious to sit down with federal officials.
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Abundant natural gas, cost declines for renewables, and tight regulations from the Environmental Protection Agency (EPA) are slowly killing coal-fired power plants in the U.S. This dynamic is playing out across the country, but the results will be particularly important in the Midwest, which will be ground zero for the fight over the changing electricity mix in the coming years.
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CALGARY — Energy exports from Canada will have to rise as the country produces 75 per cent more oil and 25 per cent more natural gas by 2035, far outstripping its needs, says the National Energy Board.
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It was as if the International Energy Agency were appearing on the old American television game show To Tell the Truth last week as it offered a third contradictory forecast in the space of a year.
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Last week the second round of negotiations for an EU-US free trade agreement took place. Energy has not been making headlines in the context of these talks, but a TTIP (Transatlantic Trade and Investment Partnership) will have far-reaching implications for the energy sector, e.g. with regard to oil sands, LNG and shale gas. NGO’s worry that the TTIP will give big business the chance to undermine Europe’s environmental legislation. Sonja van Renssen has the inside story from Brussels. (Photo: US trade representative Michael Froman, US trade mission Geneva)
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EDMONTON – Families living near Peace River who say they’ve been forced from their homes because of emissions and odours from nearby bitumen processing facilities have hired a lawyer to force the wells to close, in hopes they can return to their homes.
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The energy renaissance in the United States and Canada has left Mexico largely behind. While American and Canadian crude production has jumped over thirty percent in the last decade, Mexican production has fallen by over a quarter. This trend has not been lost on the Mexican government, which this past summer announced plans to dramatically reshape its oil industry by reforming constitutional rules pertaining to the role of international oil companies (IOCs).
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CALGARY – A new Fraser Institute report suggests Alberta is the third most attractive jurisdiction in the world for oil and gas investment, but that could change if crucial pipeline proposals aren’t approved soon.
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In its new World Energy Outlook (WEO), the IEA is cautious about the prospects of unconventional oil and gas outside the US. As regards shale gas, it notes that “uncertainty remains over the quality, the costs and public acceptance.” Yet in an interview with Energy Post, IEA Executive Director Maria van der Hoeven notes that “the gas is there. All geologists are agreed on that.” Moreover, “there may be other surprises in store, for example with methane hydrates”, she says. “We cannot rule out that new revolutions may take place.”
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