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Welcome back to a world of US$70 oil.
It’s been more than two years since benchmark U.S. oil prices were at such a lofty level and they briefly returned to that mark on Monday, bolstering expectations of a revival for the Canadian oil sector in the second half of this year and into 2022.
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Try refreshing your browser, or As oil hits $70, new forecast shows Alberta s economy primed to lead Canada in growth Back to video
Higher energy prices are also expected to help jumpstart an economic recovery in Alberta, as a new Conference Board of Canada report projects the province will lead the country in growth this year and next.
iPolitics By iPolitics. Published on Jun 9, 2021 11:40am
The Lead
Project Reconciliation, a Canadian Indigenous group, is seeking a full ownership stake in the Trans Mountain oil pipeline, according to the group’s new chairman.
The group is among several Indigenous organizations that formed more than two years ago to seek a stake in Canada’s only oil pipeline system that delivers crude oil from Alberta to the Pacific Coast. Until now, Project Reconciliation had sought no more than a 51 per cent stake. Now it’s seeking 75 per cent with the option to eventually own 100 per cent of the pipeline.
“We are hopeful that we can get our position across,” Robert Morin, the group’s chairman, told Bloomberg. The group has said it has funding lined up for the purchase, without revealing any financing source.
iPolitics By iPolitics. Published on Jun 9, 2021 11:40am
The Lead
Project Reconciliation, a Canadian Indigenous group, is seeking a full ownership stake in the Trans Mountain oil pipeline, according to the group’s new chairman.
The group is among several Indigenous organizations that formed more than two years ago to seek a stake in Canada’s only oil-pipeline system that delivers crude oil from Alberta to the Pacific Coast. Until now, Project Reconciliation had sought no more than a 51 per cent stake. Now it’s seeking 75 per cent, with the option to eventually own 100 per cent of the pipeline.
“We are hopeful that we can get our position across,” Robert Morin, the group’s chairman, told Bloomberg. The group has said it has funding lined up for the purchase, without revealing its financing source.
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