A Conference Board of Canada report says high energy and metals prices "are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments" in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces." The board's Provincial Outlook - Spring 2011 report issued Wednesday also forecasts that Saskatchewan "will benefit from tax breaks and a hot mining industry."
Oilsands Mining News
According to The Globe & Mail, Christophe de Margerie, the CEO of French energy giant Total on a tour of Canada’s oil sands with members of the company’s international advisory board this week, believes the resource is playing an increasingly important role in setting the global price of crude. Through a string of deals, kicked off by the $1.67bn acquisition of Deer Creek in 2005 and topped by the $1.7bn partnership with Suncor announced late last year, Total has become one of the largest oil sands players. The company plans to spend $20bn in the oil sands by 2020, but no further acquisition are planned reports the Calgary Herald.
To hear the mainstream media tell it, the commodities bubble has burst. Commodities are plunging across the board in response to the latest U.S. data, most of which seems to suggest that the American economic recovery is waning. Oil, which closed at $100 a barrel yesterday, was particularly hard hit, which is why so many suggest the commodities bubble has met its end.
At first glance, you might think this is a stretch. How can snowpack levels in the West possibly have anything to do with the price of natural gas nationally? It turns out that Rocky Mountain snowfall has a huge impact… Resulting water runoff from the thawing period changes the capacity of hydropower on the West Coast… and that has a huge impact on natural gas demand. Plus it varies greatly from year to year.
Has oil moved into backwardation yet? What does corn’s roll yield look like? How do you know when it’s time to buy — or sell? Each week, we investigate the futures curves of the U.S.’ most important commodities, helping investors better understand the market and seize buy-and-sell opportunities as soon as they arise.
Reforms by Guinea's first freely elected government are needed to clean up a mining sector in disarray after decades of political turmoil, but they risk scaring off investors if they go too far too fast. The world's top bauxite supplier and a new frontier for iron ore, Guinea is rewriting its mining code, probing joint venture deals, and has dealt tough blows to major firms since the election of President Alpha Conde last November.
Ella Fitzgerald was absolutely brilliant. She had the most rabble-rousingly glorious voice, which cannot help but inspire. So by borrowing a few song sheets from her extensive back catalogue, I’m going to elaborate on some of the key issues in energy through ‘The First Lady of Song.’ First up we’re going to take a look at gasoline, which is ‘Bewitched, Bothered, and Bewildered.’
now been notified by its customer, Canadian Natural Resources Ltd., to suspend overburden removal activities at the Horizon oil sands project near Fort McMurray, Alta. The suspension is being taken while Canadian Natural undertakes repairs to its primary
The remaining opportunities are few, far between, and expensive. Meeting our GHG targets is not just an oil sands problem, but regulations will be required in the oil and gas sector and need to be announced soon.
The market for unconventional fuels is growing at a rapid pace. Some of the most common unconventional source of fuel includes gas shales, oil sands, and oil shales.
Imperial Petroleum, Inc. announced that its subsidiary, Arrakis Oil Recovery, has successfully completed commercial scale demonstration tests for multiple parties on oil sands from various locations.
Quadra FNX Mining (TSX:QUX) and First Quantum Minerals (TSX:FM) led a weak rally on the Toronto Stock Exchange Monday, while Canadian oilsands stocks ticked lower on news of wildfires in northern Alberta. Canadian Press reports: The Toronto stock market closed little changed Monday as investors attempting a rally following a string of losses in recent days gave in to further worries that recent strength in commodity prices is on the wane. The resource-heavy S&P/TSX composite index came down from a 142-point surge to close up 14.19 points to 13,391.35, while the TSX Venture Exchange slipped 41.95 points to 1,996.27. The Canadian dollar was lower against the greenback, down 0.59 of a cent to 102.65 cents US.
Diluted bitumen from the oilsands can pose a substantial risk when carried through pipelines, says the Natural Resources Defense Council in a report released this week. "Increasingly, pipelines transporting tar sands crude oil into the United States are carrying diluted bitumen or "DilBit"—a highly corrosive, acidic, and potentially unstable blend of thick raw bitumen and volatile natural gas liquid condensate—raising risks of spills and damage to communities along their paths," says the report. The Natural Resources Defense Council claims that the company's that produce oilsands are using conventional pipeline technology, however the operating temperature and pressure to push the bitumen down the pipes must be higher which can lead to ruptures, corrosion and leaks.