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  • 30Mar

    CALGARY — Alberta’s landlocked bitumen reserves stand to lose their allure as China’s state-backed oil giants pour money into the light oil renaissance underway in pockets of the United States. The boom in so-called tight oil attracted US$41-billion in capital investment last year and could reach US$72-billion by 2020, according to the American Petroleum Institute. The total rivals the $23-billion spent in the oil sands last year and may help coax hundreds of thousands of additional barrels of light oil from North Dakota’s Bakken field, the Eagle Ford play in Texas and California’s Monterey shale.

     


  • 30Apr

    Former Conservative cabinet minister Jim Prentice says Canadians need to step up their efforts to maintain free and open energy markets for Canada’s oil, gas and electricity in the United States. Prentice, who is now a vice-president at CIBC, is in Halifax Tuesday to discuss how Canada will fare in a North America that is on the verge of being energy independent.

     


  • 30Apr

    OTTAWA (Reuters) - Canada's economy delivered a welcome surprise in February, growing faster than expected and prompting economists to upgrade their forecasts for the first quarter, although none expect the central bank to raise interest rates any time soon. Monthly gross domestic product grew 0.3 percent, Statistics Canada said Tuesday, while also revising upward its growth estimate for January, to 0.3 percent from

     


  • 23Apr

    ZURICH--ABB Ltd. (ABBN.VX) said Monday it will pay around $1.03 billion to acquire the renewable energy company Power- One Inc. ( PWER ) to expand its solar business. The boards of the two companies agreed a deal in which ABB will buy Power-One for $6.35 a share, or around $1.03 billion in equity value, which includes Power-One's net cash of $266 million, the Zurich-based company said Monday.

     


  • 23Apr

    CALGARY - The Conservatives in Ottawa are staunch supporters, the New Democrats have called it a "win-win-win" and the premiers of Alberta and New Brunswick have loudly touted the benefits of an oil pipeline from west to east. But the degree to which Eastern consumers will benefit at the pump is unclear, as it's up to the pipeline's customers — oil producers at one end and refineries at the other — to determine which barrels go where.

     


  • 23Apr

    The National Energy Board says it has strengthened regulations for federally regulated oil and natural gas pipelines to make them safer for people and the environment. The amended regulations that came into effect earlier this month require companies to do more to address safety, pipeline integrity, security, environmental protection and emergency management.

     


  • 23Apr

    TOKYO - A U.N. nuclear watchdog team said Japan may need longer than the projected 40 years to decommission its tsunami-crippled nuclear plant and urged its operator to improve plant stability. The head of the International Atomic Energy Agency team, Juan Carlos Lentijo, said Monday that damage at the Fukushima Dai-ichi plant is so complex that it is "impossible" to predict how long the cleanup may last.

     


  • 23Apr

    CALGARY — Alberta was the third-largest province in terms of manufacturing, with sales of $74.829 billion in 2012, according to a report released Monday by Statistics Canada. The federal agency said the province accounted for 12.7 per cent of manufacturing sales in Canada. Ontario led the country with sales of $271.983 billion followed by Quebec at $137.827 billion.

     


  • 07Mar

    (Reuters) - U.S. stocks edged higher for a fifth day on Thursday, with the Dow hitting an intraday record for the third session in a row, as data pointed to a pick-up in the labor market recovery and investors looked for opportunities to buy into the recent rally. Growth sectors showed the most gains, with the S&P financial index .SPSY up 0.6 percent and shares of JPMorgan Chase (JPM.N) up 1.1 percent at $50.60.

     


  • 07Mar

    (Reuters) - Household debt grew at its fastest pace since early 2008 in the fourth quarter last year, a possible sign that the painful process of paring back borrowing in the aftermath of the financial crisis may have run its course. Federal Reserve data released on Thursday also showed that the net worth of American households grew solidly during the fourth quarter of 2012, rising $1.1 trillion to $66.0 trillion, another hopeful sign for future U.S. consumer spending.