Economics

Environmentalists target oil sands investors
NORVAL SCOTT
Globe and Mail Update
September 16, 2008 at 9:48 AM EDT

CALGARY — Environmental group Greenpeace Tuesday launched a new attack
on Alberta's oil sands, claiming that energy companies BP PLC and
Royal Dutch Shell have underestimated the potential risks to investors
of oil sands development.

The report has the backing of several British investment firms,
including Holden and Partners, Innovest and Co-operative Asset
Management.

Co-operative Asset Management, a fund worth almost $6-billion, also

Report calls for expanded nuclear industry in Alberta and Sask.
CBC News // 09/11/08

The fight over the possibility of building an Alberta nuclear reactor has erupted again following the release of a report from the Canada West Foundation.

The report suggests a reactor should be built in either Alberta or Saskatchewan in order to fight global warming and cash in on what the author calls a "nuclear revival" around the world.

Energy economy can't turn on dime
2008-09-16
By RICKY LEONG

With Canada firmly in the grasp of an election campaign, all eyes have turned toward the East.

As demonstrated in a Sun Media-Nanos poll published in the Sun yesterday, most Canadians appear confident in their ability to weather an expected economic downturn -- except our cousins in Quebec and Ontario, where the manufacturing sector has taken a beating in recent years.

The parties are posturing to convince Canadians, easterners in particular, who is best suited to steer Canada through tough economic times.

Oilsands firms balk at wetlands policy
'No net-loss' rule could cost oil producers billions
Kelly Cryderman, Calgary Herald
Published: Tuesday, September 16, 2008

Two major industry associations representing oilsands producers are refusing to support key tenets of a long-awaited plan to protect Alberta's wetlands, citing concerns about rigid rules and restoration costs that could stretch to $1 billion and beyond.

Environmental groups say they have been blindsided by the decision.

Shady employment agents prey on foreign workers
Seeking work, would-be immigrants are charged placement fees for jobs that don't exist
Joanne Lee-Young, Vancouver Sun // August 31, 2008

Antonio Navarro's story speaks of the uglier side of what is happening as B.C. targets the Philippines as a source of labour to ease its shortages.

UPDATE 3-Devon starts phase 2 of Alberta oil sands project
Mon Sep 8, 2008 5:23pm EDT

CALGARY, Alberta, Sept 8 (Reuters) - Devon Energy Corp (DVN.N: Quote, Profile, Research, Stock Buzz) is embarking on the second phase of its Alberta oil sands project, a $1-billion-plus expansion aimed at doubling output in four years, the U.S. oil independent said on Monday.

Devon said it won regulatory approval for phase two of the steam-driven Jackfish project, which will add 35,000 barrels a day of production of tar-like bitumen by 2012. It will start construction immediately.

Oil patch immune from the meltdown: economists

Carrie Tait, Financial Post Published: Monday, September 15, 2008

CALGARY - Canada's oil and gas industry, including the massively cash-heavy oil sands projects, should be immune to the financial crisis gripping Wall Street - for now.

Economists say the multi-billion dollar oil sands projects and other exploration and production efforts will still be able to access capital, even as major institutions go under and banks shy away from lending money.

Weak oil and debt markets may bedevil oil sands plans
Mon Sep 15, 2008 2:16pm EDT
By Jeffrey Jones - Analysis

CALGARY, Alberta (Reuters) - A double whammy of tumbling crude prices and shaky credit markets could force some companies to delay multibillion-dollar Canadian oil sands projects, cutting the country's overall output forecast.

Most at risk are developments that are in the design phase but have yet to start construction. Some have already been delayed due to surging costs, a tight labor market and stricter regulatory scrutiny.

First Nation coalition threatens blockades over oil pipeline
Jason Warick
Saskatchewan News Network; Canwest News Service
September 15, 2008

SASKATOON -- The chief of a Saskatchewan First Nation is leading a coalition of First Nations considering blockades or other action to halt construction of a multimillion-dollar oil pipeline until their concerns are addressed.

First Nations from across Western Canada meet today and Tuesday in Edmonton to plot their strategy, Red Pheasant Chief Sheldon Wuttunee said in an interview Sunday.

Canadian oil sands needed

LOADING
Sep 14, 2008 - 04:05:23 CDT
ROBERT JOHNSON
Bismarck

As a North Dakota geologist, I find the environmentalists’ opposition to U.S. use of Canadian oil sands and the Keystone pipeline narrow-minded and self-serving.

The public interest in ensuring America’s energy security requires that we use Canada’s oil sands. Second in size only to Saudi Arabia’s oil reserves, the oil sands hold an estimated 173 billion barrels of oil.