Category Archives: Oil & Gas

Tar Sands Resistance Blowing Huge Hole in Oil Industry’s Bottom Line: Report

tar_sands_blockade‘Business as usual for Big Oil—particularly in the tar sands—is over.’

by Lauren McCauley, Common Dreams, October 29, 2014

The growing tide of tar sands resistance—seen in blockades, tree sits, petitions, education efforts and calls to divest—is having a measurable negative impact on the bottom line of the tar sands industry, according to a new report, prompting researchers to declare that “business as usual for tar sands is over.”

Published Wednesday by the Institute for Energy Economics and Financial Analysis and Oil Change International, the report, Material Risks: How Public Accountability Is Slowing Tar Sands Development (pdf), finds that tar sands production revenues were down about $30.9 billion from 2010 through 2013. And according to the report, more than half of that lost revenue, roughly $17 billion, can be attributed to the fierce grassroots campaigns that have sprung up throughout North America in the past few years.

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BG Group pressing pause button on Prince Rupert LNG, citing market conditions

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Keystone pipeline foes energized as tumbling crude prices pinch oil sands

Members of American Indian Movement (AIM) in Colorado protest Keystone XL pipeline and tar sands.

Members of American Indian Movement (AIM) in Colorado protest Keystone XL pipeline and tar sands.

Jim Snyder, Financial Post/Bloomberg News, October 27, 2014

Falling oil prices have energized opponents of the proposed Keystone XL pipeline.

U.S. benchmark crude has tumbled 10% this month, closing at $81.01 a barrel in New York trading last week, and further declines are forecast. At $75, a government analysis said producers may be discouraged from developing Canada’s oil sands without pipelines like Keystone.

“It changes the narrative quite a bit,” Anthony Swift, an international lawyer at the Natural Resources Defense Council in Washington, said of the tumble in crude prices. Read the rest of this entry

Regulatory approval of LNG pipeline faces First Nation resistance

 

TransCanada's headquarters in Calgary, Alberta.

TransCanada’s headquarters in Calgary, Alberta.

Babine Lake, Burns Lake bands say recent Supreme Court ruling changes playing field

One of the first big LNG pipelines has been approved by B.C. after an environmental review, but First Nations say they could yet oppose the mega-project and others like it.

TransCanada’s $4.7-billion Coastal GasLink pipeline to Kitimat was given approval Friday, although the project only goes ahead if the project it fuels is given the green light.

Shell and its partners have yet to give a positive final investment decision to the $12-billion Canada LNG project meant to tap into Asia’s growing appetite for energy.

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Kinder Morgan’s Western Canada Pipeline Plans Hit A Mountain Of Opposition

Kinder Morgan Westridge Marine Terminal gate - photo by Mychaylo Prystupa, Vancouver Observer.

Kinder Morgan Westridge Marine Terminal gate – photo by Mychaylo Prystupa, Vancouver Observer.

By Julie Gordon, Huffington Post/Reuters, Oct 21, 2014

VANCOUVER, Oct 21 (Reuters) – A Western Canadian pipeline once seen as the best near-term hope for sending more of the country’s controversial tar sands crude to Asia has hit another snag: aboriginal communities intent on using the courts to block the proposed expansion.

Kinder Morgan Energy Partners’ C$5.4 billion ($4.8 billion) Trans Mountain expansion would twin a 60-year-old line running from the oil-rich province of Alberta to the coastal city of Vancouver, tripling its capacity.

The pipeline expansion had been seen as sure bet because it uses an existing route. But a surge in municipal opposition in recent months has fueled industry worries that it will enter legal and regulatory limbo along with the unbuilt TransCanada Corp Keystone XL and Enbridge Inc Northern Gateway pipelines.

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Oilpatch faces project cancellations with crude at $82

Oil spill in northern Alberta.

Oil spill in northern Alberta.

As earnings season approaches, analysts weigh investment prospects for next year

CBC News, Oct 20, 2014

The falling price of oil will likely result in a round of project cancellations and disappointing results in the Canadian oilpatch, analysts say.

As oil companies bring in third quarter earnings, starting toward the end of this week,  they’re facing oil priced at just above $80, down about 20 per cent since June of this year.

Today West Texas Intermediate oil contracts seem to have stabilized at $82.71 US a barrel, down four cents on the day. That’s up from the lows below $80 set last week. Western Canada Select, the price received by many Canadian oil producers, is at $69.10.

“When the price falls to where it is now, certainly a lot of crude oil producers are having a second look at future projects for expanding the oilsands until they see where things shake out,” says Michael Ervin, of petroleum consultancy M.J. Ervin & Assoc. Read the rest of this entry

Kinder Morgan questions how much B.C. First Nation still eats fish

Chinook salmon.

Chinook salmon.

NEB hearings underway to hear Aboriginal oral evidence into Kinder Morgan’s proposed oil pipeline, that would cross dozens of rivers sacred to First Nations.

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Hundreds of complaints filed against RCMP after Elsipogtog fracking blockade

Some police "impartiality"; Mi'kmaq warriorPaul "Soda Pop" Francis assaulted by RCMP, Dec 2, 2013.

Some police “impartiality”; Mi’kmaq warriorPaul “Soda Pop” Francis assaulted by RCMP, Dec 2, 2013.

Trina Roache, APTN National News, Oct 16, 2014
The RCMP’s watchdog is looking into hundreds of complaints stemming from protests against fracking in New Brunswick late last year. The Mi’kmaq led the fight was against provincial government sanctioned shale gas exploration by SWN Resources Canada.

Calls to the Commission for Public Complaints against the RCMP started to roll in as far back as July, 2013. And when the RCMP raided a Mi’kmaq Warrior camp on the morning of Oct. 17, it triggered violent clashes with police. By the end of the day, RCMP snipers in camouflage with rifles were hiding in the tall grass, 40 people were arrested and six police cars were set on fire. Read the rest of this entry

B.C. child welfare program offer to First Nation backfires over LNG ties

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RCMP watchdog reviews police handling of shale gas protests

Colonial terrorism: RCMP Tactical Armoured Vehicle lurks in the background behind "Tactical Troop" riot cops, Oct 17, 2013.

Colonial terrorism: RCMP Tactical Armoured Vehicle lurks in the background behind “Tactical Troop” riot cops, Oct 17, 2013.

Dozens of anti-shale gas protesters were arrested during months of protests in Kent County

CBC News, Posted: Oct 14, 2014

The independent Commission for Public Complaints Against the RCMP is investigating complaints about police conduct during the shale gas protests in Kent County.

Commission staff members are in New Brunswick as a part of the watchdog agency’s investigation, which was prompted following the violent clashes between the RCMP and anti-shale gas protesters in eastern New Brunswick last year. Read the rest of this entry

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