Canada Dreams of Oil Exports to Asia, but California Beckons
The nationalization of a crude oil export pipeline in western Canada has buoyed long-standing hopes for crude exports to markets beyond the United States - but the most likely destination for much of that oil is California. Faced with declining production from Latin America and rising prices for higher-grade crudes from the Middle East, the Golden State is importing more oil from Canada - much of it via the Trans Mountain pipeline, which Kinder Morgan Canada last month sold to Ottawa for C$4.5 billion ($3.5 billion).
Trump, Trudeau to Discuss Trade on Monday
President Donald Trump will host Canadian Prime Minister Justin Trudeau on Monday, the White House said on Thursday, a meeting in which trade and a major crude oil pipeline are likely to be on the agenda. The meeting will be the first for the two men since Trump won last November's election. "President Trump and Prime Minister Trudeau look forward to a constructive conversation on strengthening the relationship between our two nations," the White House said in a statement. Canada…
TransCanada Axes 185; Touts Economic Service
TransCanada Corp, the backer of the controversial Keystone XL pipeline project, said on Tuesday it has eliminated 185 jobs following a restructuring of its major projects department. The company said 100 of the cuts came from its full-time staff while the remainder were contract employees. It said the firings were needed to ensure the lowest-cost services to its customers. Reporting by Scott Haggett
Congress Won't Cool Fight Against Obama on Climate
Data showing the heating of Earth in 2104 to the highest level on record will do little to stop Republicans in the U.S. Congress from fighting President Barack Obama's use of executive powers to slow climate change. Republicans, who won control of the Senate in November's elections, campaigned on dismantling Obama's plans to slow the country's emissions. More broadly, they plan to target Obama's recent pledge of $3 billion to a global climate fund that led some to hope the world would reach an agreement to fight global warming in Paris next year. After two U.S.
Battle Over Keystone XL Pipeline
Nebraska's Supreme Court ruled against a challenge to the Keystone XL oil pipeline's route through the state on Friday, clearing the way for the Republican-controlled U.S. Congress to try to force President Barack Obama to approve the project. The 1,179-mile (1,900-km) pipeline would send up to 830,000 barrels per day of oil sands crude from Hardisty, Alberta, across the U.S. border to Steele City, Nebraska, where it would connect with the project's already-built Gulf Coast leg.
Republicans Set to Challenge Obama
Republicans take full control of the U.S. Congress this week with an agenda of trying to force approval of the Keystone XL oil pipeline and push back on President Barack Obama's sweeping policy shifts on Cuba and immigration. After years of battles over the budget and other issues, further clashes loom as Republicans who already control the House of Representatives take over the Senate majority on Tuesday after wins against Obama's Democrats in November's midterm elections. Angry over the president's moves last year to bypass Congress on issues such as immigration…
Senate Panel to Introduce Keystone XL Bill
The head of the Senate energy committee plans to introduce a bill next week to force approval of the Keystone XL oil pipeline, though the full chamber faces a battle in obtaining needed votes to overcome any veto by President Barack Obama. Keystone supporters say they picked up votes for TransCanada Corp's $8 billion project in November's midterm elections, including Republicans Shelley Moore Capito, from West Virginia, and Joni Ernst, from Iowa. That means this year's bill will likely have a few more than the 60 votes needed to pass…
EU Abandons 'Dirty' Label for Canada Tar Sands Oil
A European Union plan to label Canadian tar sands oil as highly polluting as part of its fight against climate change has been abandoned after years of opposition from Canada, clearing the way for exports of tar sands crude to the European market. A proposal published by the European Commission on Tuesday removes what could have been an EU obstacle to shipments of the crude and comes at a time when tensions between the EU and its top oil supplier, Russia, are running high. EU sources…
Keystone XL Costs to Nearly Double - TransCanada
The total cost of TransCanada Corp's controversial Keystone XL pipeline is likely to nearly double following six years of regulatory delays, a company spokesman said on Friday. TransCanada spokesman Shawn Howard confirmed comments made by chief executive officer Russ Girling during an interview in Washington, D.C., on Thursday. The comments were first reported by The Wall Street Journal. In an email, Howard said Girling had said the cost of the pipeline, previously estimated at $5.4 billion, had risen significantly.