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427 Truck Convoy For The Yellow Vests

427 trucks in total!

A large number of individuals and local business' got together to hold a convoy through Estevan. It was to show solidarity with the Yellow Vest movement that has been taking place in the southeast as well as the rest of Canada.

There was also another demonstration held in front of Estevan City Hall. With a number of people coming out to show their support.

TransCanada hopes to start construction on Keystone XL pipeline by June

TransCanada Corp. is hoping to start construction by June on its decade-old Keystone XL oil pipeline project, even as the U.S. government shutdown threatens to delay a key legal proceeding.

In a court filing on Monday, the Calgary-based pipeline company said its current schedule requires pre-construction activities including setting up pipe yards and work camps to resume by February. That would allow full work to begin by June and be completed in late 2020, with the pipeline entering service in early 2021.

TransCanada reiterated that a yearlong delay would cost the company US$949 million in lost profits and delay the hiring of about 6,600 workers. The company would also face higher construction costs as competition for crews increases in 2020, TransCanada said in a letter filed in U.S. District Court in Montana.

The 1,200-mile (1,900-kilometre) pipeline, which would help carry 830,000 barrels of crude a day from Alberta’s oilsands to U.S. Gulf Coast refiners, has faced legal holdups amid staunch opposition from environmental groups and landowners.

The same court last month sided with environmental groups opposing the project and said TransCanada couldn’t resume field work while it awaited a new environmental review from the U.S. State Department. Prior to that ruling, TransCanada had hoped to start construction as early as mid February.A hearing is scheduled for Jan. 14, though the Justice Department — which is representing the State Department in the proceedings — lacks funding due to the partial government shutdown. TransCanada asked the court to move forward with that hearing without the Justice Department, a move the agency supported in a separate letter.

SOURCE: CALGARY HERALD

Yellow Vests Gain Support

The Yellow Vest movement has found it's way to the Energy City. A rally was held last Saturday in front of the city hall building with many individuals from Estevan and the surrounding area showing up. Another rally is planned for this Saturday in front of city hall at noon. There will also be a truck convoy that will start in front of Bert Baxter Transport, around eleven-thirty.

Jay Riedel spoke with Discover Estevan to share the reasoning for the rally and to also clear up some misconceptions. 

"We're looking for a peaceful protest. We just want to be seen and heard, and not to cause any violence or chaos". Jay said in reference to how other yellow vest protests have been taking place in other parts of the world. 

In regards to the Carbon Tax. "It's going to undermine any attempts to capitalize on our fossil fuels, and it's going to burden the taxpayers that are already trying to make ends meet". He continued. "The hardships the Carbon Tax will have on people will be pretty astounding. It will increase the burden on those who have already been struggling in the oil field and coal industry. It will add extra costs to power and heating in homes as well as fuel for transportation, from people's vehicles all the way up to the large trucks that are bringing in goods". As far as the rebates go, "I honestly don't see it having an impact on people's expenditures".

Another major issue for the Yellow Vests is the lack of an oil pipeline to get our resources to market. "If we were able to get these pipelines built, it would inject millions of dollars into the country at all levels. It creates thousands of jobs, boosts the economy". Jay added, "We've got to think about the younger kids, as their growing up they're going to have this debt to pay, and without jobs or future prospects, they'll be stuck with this debt for the rest of their lives".

"I'd like to see as many people out there as we can". Jay Continued. "If your interested in trying to get things changed in this country, show up at city hall Saturday. We'll try to do it every Saturday that we can, as long as people are interested in coming. Bring your signs. You don't have to have a yellow vest if you don't have one, that's fine. Just your presence there is all we ask".

Jay also spoke on immigration and equalization payments between provinces. The full interview can be heard below.

Ottawa offers $1.6B backstop for energy sector as political tensions with Alberta fester

CBC News · Posted: Dec 18, 2018 12:19 PM ET |
 
The federal government is promising more than $1.6 billion — most of it in loans —  to support the ailing energy sector, but it's unlikely to ease the heightened political tension between Ottawa and Alberta.
 
Natural Resources Minister Amarjeet Sohi and International Trade Diversification Minister Jim Carr made the announcement in Edmonton this morning.
 
The bulk of the money — $1 billion in commercial support — comes from Export Development Canada, the national export credit agency. It's meant for oil and gas exporters who want to invest in new technologies and diversify their markets.
 
The funding package also includes $500 million over three years from the Business Development Bank of Canada, a Crown corporation, to help smaller companies increase operational and environmental efficiency, buy new technology and equipment or expand into new markets.
 
The government first made an official request to the EDC and BDC about making targeted money available this fall, said a senior government source.
 
An additional $150 million is pegged for clean growth and infrastructure projects — $50 million of it coming from Natural Resources Canada's current Clean Growth Program, a $155 million investment fund for clean technology research and development.
 
Sohi said the money will be available immediately.

Concerned oil field workers watch as Canada's Minister of International Trade Diversification Jim Carr, left, Canada's Minister of Natural Resources Amarjeet Sohi, centre and Randy Boissonnault, Edmonton M.P. speak during press conference to announce support for Canada's oil and gas sector, in Edmonton on Tuesday, Dec. 18, 2018. (Jason Franson/Canadian Press)

The price for Alberta's crude tumbled to $11 a barrel in late November, inciting panic among industry players and politicians.

"When Alberta hurts, so does Canada," said Sohi.

Alberta Premier Rachel Notley, who was not on hand for today's announcement, has called on Ottawa to help the province buy new rail cars to ship two additional tanker trains full of Alberta crude out of the province every day.

Today's funding announcement didn't mention rail cars.

Lukewarm reception in Alberta

During a separate announcement in Calgary, ​Notley said Ottawa isn't listening to what her province and the energy sector actually need.

The enhanced access to capital "will probably" help some small producers, she said, but doesn't get to the root of the problem: getting Alberta's oil to market.

"We didn't ask for the opportunity to go further into debt as a means of addressing this problem. What we asked for was for them to remove the handcuffs," she said.

"What we can only assume is that this is a first step and that there is more to come."

United Conservative Party Leader Jason Kenney called the investment "too little, too late." In a news release, Alberta's opposition leader said if Prime Minister Justin Trudeau's government was serious about helping Alberta energy workers, it would nix Bill C-69 — legislation overhauling Canada's energy project assessment system — and Bill C-48, which would ban oil tankers from the northern B.C. coast.

"Alberta's NDP government made a critical mistake in putting all their faith in their alliance with the Trudeau Liberal government, and today Albertans are facing the consequences," said Kenney.

Sohi pointed to his government's $4.5 billion purchase of the Trans Mountain pipeline as proof of its commitment to the sector.

"The difficult time that Alberta is facing is obviously being reflected in the demonstration rallies that are being held throughout the province," said Sohi. 

"My focus is to solve the problem and we are solving that problem by moving forward on the Trans Mountain pipeline expansion."

SOURCE: CBC NEWS

Yellow Vest Movement Protests Against Government

There was attention drawn to City Hall this Saturday afternoon where a group of protesters called the Yellow Vest Movement took a stand on what is happening in Canada.

"We are protesting a few things about what's going on in Canada now, mainly with the Carbon Tax and the way it is pretty much shutting down the west," stated Jay Riedel, Lead Protester. "Everybody is trying to get work in the oil field and it's just been a hindrance to everybody."

"The Yellow Vest Movement was started here December 5th and there are over 60,000 members in Canada at this time. As of today[Dec. 15] every city the country, as many that can, are trying to protest everything right now with the Trudeau-liberals, with the Carbon Tax and a lot of the other stuff going on with the UN. We are just trying to show our support that we need to be heard, we need to get people back to work, get some pipelines built and whatever else we can."

Across the country, the Yellow Vest Movement has made the plan to meet every Saturday. They had over 60 people come out and show their support in Estevan and many more in the other cities across the country

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Ottawa offers $1.6B backstop for energy sector as political tensions with Alberta fester

We didn't ask for the opportunity to go further into debt,' says Alberta premier

Latest Numbers from December's Public Offering Released

The latest numbers are in for December's public offering of crown petroleum and natural gas rights generating $20.1 million for the province.

While most of the attention was placed in the Wilkie and St Walberg area, 5,473.394 hectares of petroleum and Natural gas and 2,800.373 hectares of petroleum natural gas lease were available in the Weyburn-Estevan area totalling $3,083,599.39 of revenue.

“Saskatchewan continues to be an attractive destination for investment by the oil and gas industry,” Energy and Resources Minister Bronwyn Eyre said. “Our competitive policies and incentives, designed in collaboration with industry, encourage sustainable activity, job growth, and good resource management.”

The highest bid for a 5,568.500 hectare parcel of land east of Wilkie purchased by BASM Land & Resources Ltd for $9,126,103.28.

The final offering for the fiscal year will be held on February 5, 2019.

Suncor holding off on crude expansion amid Canadian pipeline confusion

WINNIPEG, Manitoba (Reuters) - Suncor Energy Inc (SU.TO), one of Canada’s biggest oil producers, will not sanction further expansions of crude production until it becomes clearer when new pipelines will be ready, Chief Executive Steve Williams said on Wednesday.

A court overturned last week the Canadian government’s approval of the Trans Mountain pipeline expansion. That decision added to “troubling” pipeline delays, Williams said at a Barclay’s investor conference in New York.

“There is clearly a question of confidence in Canada,” Williams said.

“You will not see us approve those projects until we have more clarity on pipelines,” he said. “I would want to see actual, physical progress on the ground before I would commit.”

Canadian heavy oil production in Western Canada is expanding but construction of new pipelines has not kept pace, stranding supplies in the landlocked province and deepening a price discount to North American futures.

Oil producers have eagerly awaited the expansion of Trans Mountain, owned by the Canadian government, which would move Alberta crude to a British Columbia port. TransCanada Corp’s proposed Keystone XL pipeline may be delayed by a U.S. State Department environmental review, while Enbridge Inc’s (ENB.TO) Line 3 replacement has cleared key regulatory hurdles.

Suncor has sufficient committed pipeline space for its production, including Fort Hills, Williams said, and its own refineries shield it from exposure to the price discount on Canadian heavy oil.

Reporting by Rod Nickel; Editing by Chizu Nomiyama and Paul Simao

SOURCE: REUTERS

CANADA STOCKS-TSX futures lower as oil slips; NAFTA talks in focus

Sept 5 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Wednesday as oil prices fell after a tropical storm hitting the U.S. Gulf coast weakened, and ahead of a fresh round of North Atlantic Free Trade Agreement (NAFTA) negotiations.

Canada heads into talks in Washington to renew NAFTA determined not to back down on key issues despite threats from U.S. President Donald Trump to retaliate against the Canadian economy unless Ottawa gives ground quickly.

The reduced impact of Storm Gordon, which deviated away from oil-producing areas, helped offset support from forecasts of lower U.S. inventories and sanctions against Iran.

September futures on the S&P/TSX index were down 0.25 percent at 7:05 a.m. ET.

The Bank of Canada announces its interest rate decision at 10:00 am ET, while trade balance numbers are due at 08:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 101.58 points, or 0.62 percent, to 16,161.30 on Tuesday.

 

Dow Jones Industrial Average e-mini futures were down 0.3 percent at 7:10 a.m. ET, while S&P 500 e-mini futures were down 0.21 percent and Nasdaq 100 e-mini futures were down 0.25 percent.

TOP STORIES

Canada’s auto sales fell for the sixth straight month in August, as rising interest rates put a damper on demand for new cars.

Crescent Point Energy Corp named Craig Bryksa its new chief executive officer and said it would immediately reduce 17 percent of its workforce as the Canadian energy producer looks to turn around its business.

China’s Zijin Mining Group Co will buy Canadian gold and copper miner Nevsun Resources Ltd for about C$1.86 billion the companies said on Wednesday, after Nevsun rejected multiple bids from rival Lundin Mining Corp.

ANALYST RESEARCH HIGHLIGHTS

CRH Medical Corp : RBC raises target price to C$5.5 from C$5

Laurentian Bank Of Canada: Barclays cuts target price to C$49 from C$52

COMMODITIES AT 7:10 a.m. ET

Gold futures: $1,194.8; rose 0.07 pct GOL/

US crude: $68.99; down 1.26 pct O/R

Brent crude: $77.40; down 0.99 percent O/R

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 International trade for July: Expected -$50.3 bln; Prior -$46.3 bln

 

0830 Goods trade balance (R) for July: Prior -72.20 bln

0945 ISM-New York Index for Aug: Prior 797.5

0945 ISM New York Business Conditions for Aug: Prior 75.0

 (Reporting by Debanjan Bose in Bengaluru; Editing by Sriraj Kalluvila)

 

SOURCE: REUTERS

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