Economics

Indian activists vow to fight northern Minn. oil pipeline
by Stephanie Hemphill, Minnesota Public Radio
May 6, 2009

St. Paul, Minn. — Some Indian activists say they will fight a planned oil pipeline that would cross the Leech Lake Reservation in northern Minnesota.

The pipeline, which would be built by Enbridge Energy, would bring oil from Canada to a refinery in Superior, Wis. The Leech Lake Tribal Council has agreed to allow it to cross the reservation, in exchange for a $10 million payment from Enbridge Energy.

*News Release:*

* *

*Statoil in trouble with major investors over its tar sands involvement*

* *

13 May 2009 (Oslo, Norway) — Four major investors are putting pressure on
Statoil to withdraw from the tar sands, Greenpeace has learned.

Danske Bank has expressed its opposition to the contentious project while
Norway’s largest bank, DnBNOR, is holding meetings today to discuss whether
continued involvement in the Alberta tar sands is a sound investment.

In addition, prominent Statoil stakeholders, Folksam, a Swedish insurance

National Energy Board schedules a hearing on Keystone XL pipeline project

CALGARY, May 12 /CNW/ - The National Energy Board (NEB) has scheduled an
oral hearing on an application from TransCanada Keystone Pipeline GP Ltd.
(Keystone) to construct and operate the Canadian portion of its proposed
Keystone XL pipeline project.

The hearing is scheduled to start on Tuesday, September 15, 2009 at 9:00
a.m. at a location to be determined.

The proposed project is a crude oil line that would run from Alberta to

Off-Shore Drilling on Hold Thanks to Environmentalists
By SHAWN BELL, SRJ Reporter 12.MAY.09

A major oil company will not drill in the Beaufort Sea due to environmentalists’ concerns.

Shell withdrew its plan for exploration in Alaska’s Beaufort Sea on May 6. The plan spanned 2007 to 2009, but was too large-scale for environmentalists. They voiced concerns about impacts drilling would have on marine wildlife. Shell told the United States’ Minerals Management Services it will file a new exploration plan for 2010.

NWT Promotes Pipeline in Texas
By SHAWN BELL, SRJ Reporter 12.MAY.09

The Minister of Industry, Tourism and Investment was in Houston, Texas last week, promoting northern gas and reassuring potential investors that the GNWT still supports the Mackenzie Gas Project. Minister Bob McLeod is especially concerned about the US government’s plans to provide more than the current $18 billion in loan guarantees for an Alaskan pipeline, a situation he says weights the playing field in favour of the Americans.

Shell committed to tar sands despite $42m losses

Shell vows to press on with projects amid cost cuts and falling profits

* Terry Macalister
* guardian.co.uk, Wednesday 29 April 2009

Shell has pledged to continue with its controversial tar sands projects but has been forced to consider far-reaching cost cuts to keep the operations going after they lost $42m (£28m) in the last three months.

The Six Ways to Play Canada’s Oil Sector
By Martin Hutchinson
Contributing Editor
Money Morning

With oil finally trading back above the $50-a-barrel level, it’s time to recognize that crude prices are probably not going to remain low for very long, and may end up fluctuating in the $50-$80 range - regardless of what happens to the prices of other commodities.

As Calif. aims at carbon, Canada sees itself in bull's-eye
By COLIN SULLIVAN AND DEBRA KAHN, Greenwire
New York Times
Published: April 30, 2009

Canadian oil exporters fear that a low-carbon fuel standard adopted by California last week threatens to upset a thriving North American trade in petroleum if the regulation spreads throughout the United States.

Greenpeace Canada heads to Scandinavia to tackle Statoil investments in tar sands
May 12th, 2009

The stench of reality
The Gazette
Saturday, April 25 2009

The tar sands suddenly are a root metaphor for every pressing issue we face both as Canadians and as members of the human species, writes The Gazette's William Marsden in his essay The Perfect Moment. Here is an excerpt: