While many analysts on Wall Street forecast gold to head lower in 2014, they fail to realize that its historic ratio to oil points to a much higher price. It seems like everything today is based on financial wizardry rather than fundamentals of a physical economy.
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VANCOUVER — A task force report has been handed in to the British Columbia and Alberta governments that examines the idea of transporting oilsands’ crude via rail if proposed pipelines don’t get the green light, government documents show.
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MEDICINE HAT – A southern Alberta city and an oil and gas company are asking the courts to quash a federal emergency order that protects the sage grouse.
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It is no secret that oil transportation infrastructure in North America is strained and Albertan oil is having a difficult time getting to market. Pipeline construction is chronically delayed and rail companies are running out of oil tank cars, but oil companies are considering a new route. Calumet Speciality Product Partners, an Indiana-based company, is planning to spend $20 million to upgrade a dock in Lake Superior to load bitumen onto barges and ship it through the lake system to other refineries. While approval for the project is far from certain, it does signal a trend in the industry.
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After years on the sidelines, Lethbridge will be part of Alberta’s energy industry. That’s the prediction from MLA Bridget Pastoor, looking ahead after an eventful year on the province’s political scene.
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The American Petroleum Institute said the United States is emerging as a superpower in terms of energy and should use that leverage by exporting crude oil overseas. Some U.S. lawmakers pressing for tighter sanctions on Iran, meanwhile, oppose the export drive, suggesting potential superpower influence may run up against protectionist policies.
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Residents in the Hamlet of Reno, located south of Peace River, are starting off their new year by taking big oil to court.
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Soaring American crude production and a 1970s law that forbids exports — except to Canada because of our integrated North American market — could have a big impact on where Alberta’s light crude ends up.
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With Alberta’s natural oil and gas reserves providing billions of dollars to Canada’s economy, people like Gerry Gabinet, director of Economic Development and Tourism, are optimistic Alberta’s gemstone will continue to push the nation onward into the future.
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What happens to oil and gas wells when they stop producing, become not profitable or the company drilling them runs into financial trouble?
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