For the veteran Calgary oilman whose name adorns the downtown Gray Family Eau Claire YMCA, the recent closing of the facility due to falling membership is the “canary in the coal mine” for the Calgary economy.
The CEO of TC Energy Corp. is warning that the cost of its Coastal GasLink pipeline to bring natural gas from northeastern B.C. to Canada's first LNG export terminal is rising and completion will likely be delayed due to a construction halt to control spread of the COVID-19 pandemic.
Construction of the U.S. portion of its Line 3 oil pipeline will cost $1.1 billion more than expected due to regulatory and court delays in Minnesota but the CEO of owner Enbridge Inc. says the project is on track to start delivering "lots of free cash flow" by late this year.
Less than a month after U.S. President Joe Biden nixed the Keystone XL pipeline as part of a sweeping climate plan, another pipeline with implications for Canada is in the crosshairs of a U.S. politician.
The cancellation of the Keystone XL pipeline by U.S. President Joe Biden is a major setback for Canadian Indigenous people, says the leader of a group promoting their participation in oil and gas development as a solution to poverty on reserves.
Excess space in the oil transport system is vital to provide optionality, energy security and stable pricing, said Canadian Energy Pipeline Association CEO Chris Bloomer, who agreed Keystone XL is needed to ensure future growth rather than short-term demand.
"As friends and allies of the United States, we are deeply disturbed that one of President Biden's first actions in office has been to rescind the presidential permit for the Keystone XL pipeline border crossing," Jason Kenney said at a news conference Wednesday.
Vacancies in Calgary's downtown office towers have risen to record levels and there's no landlord relief in sight with almost one in three offices sitting empty and sublets accounting for a quarter of available spaces on the market.