Canadian government approves Trans Mountain pipeline expansion a second time
NPR: Canada’s Prime Minister Justin Trudeau has given the green light for a second time to a $5.5 billion pipeline expansion that has attracted strong opposition from environmentalists and some...
View ArticleIEEFA update: Eleven facts ExxonMobil would like investors to forget
ExxonMobil’s second quarter earnings report contained more red flags than usual (IEEFA update: Exxon’s Q2 report marks another signpost on the long road downwards). Its market capitalization is...
View ArticleForeign investors selling their stakes in Canada’s oil industry
Bloomberg: Capital keeps marching out of Canada’s oil industry, with Kinder Morgan Inc.’s sale of its remaining holdings in the country on Wednesday adding to more than $30 billion of foreign-company...
View ArticleCanada’s largest solar project gets regulatory approval in Alberta
Greentech Media: A solar project that would be Canada’s biggest received provincial approval this week from regulators in Alberta, gliding through a key step on the way to its completion. So far Canada...
View ArticleIEEFA update: ExxonMobil’s slide from the Top Ten of the S&P 500 ‒ historic...
August 30, 2019 (IEEFA U.S.) ‒ ExxonMobil is no longer in the Top Ten of the Standard & Poor’s 500 Index, according to S&P’s monthly standings, as detailed in a briefing note released today by...
View ArticleIEEFA update: Low natural gas prices – a negative outlook for energy sector
With the news from IHS Markit that natural gas prices in the United States will drop below $2 MMBtu in 2020 and remain low through at least 2024, if not longer, heads must be exploding in the board...
View ArticleGreen Mountain Power utility announces divestment from fossil fuels
September 27, 2019 (NEW YORK) – At Financing the Future, a Climate Week symposium held September 26, Mary Powell, President and CEO of Green Mountain Power, announced that the Vermont utility will be...
View ArticleNorway’s municipal pension fund completes divestment of Canadian oil sands...
Canada’s National Observer: Norway’s municipal employees pension fund, the country’s largest, has sold its last remaining stakes in companies with operations in Canada’s oil sands, saying holding them...
View ArticleCanada’s SaskPower utility looking to add 300MW of new wind in Saskatchewan
CKRM: SaskPower wants to expand the provincial power grid by creating more wind power in the future. Minister responsible for SaskPower Dustin Duncan announced on Thursday they will open a Request for...
View ArticleBernstein analyst: 100% renewable energy transition looking more and more...
Barron’s: Electricity generation is the largest single contributor to the carbon emissions that are warming the planet. It accounts for 42% of global emissions, and that share is likely to grow as...
View ArticleSweden’s central bank will no longer hold bonds from major carbon...
Bloomberg: Sweden’s central bank will no longer hold bonds issued by local authorities in Canada and Australia with high carbon-dioxide emissions after yielding to critics who say it’s not doing enough...
View ArticleIEEFA report: Additional $320 million in subsidies used to finance Trans...
November 19, 2019 (IEEFA North America) – The most recent analysis by the Institute for Energy Economics and Financial Analysis (IEEFA) shows an additional $320 million in new subsidies was given in...
View ArticleIEEFA Update: Global capital acknowledges stranded asset risks
Global capital markets are continuing to move towards the exit when it comes to financing, insuring or investing in thermal coal and coal-fired power plants used to generate electricity. The...
View ArticleOpponents push Canadian government to update cost estimates for Trans...
Vancouver Sun: Opponents of the Trans Mountain oil pipeline expansion projects want the Trudeau government to provide an updated construction-cost estimate. The estimated cost has already risen...
View ArticleIEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless...
January 15, 2020 (IEEFA North America) – The Joint Review Panel (JRP) approved Teck Resources’ proposed Frontier oil sands mine, now under federal government review, based on inflated oil price...
View ArticleIEEFA update: The terrible, horrible, no good, very bad year for oil and gas
2019 was an especially difficult year for the oil and gas industry. The energy sector (which does not include renewable energy) finished dead last in the S&P 500, the second year in a row it has...
View ArticleCanada’s Teck Resources facing tough start to 2020
Bloomberg: With two weeks until it releases quarterly earnings, Teck Resources Ltd. can’t seem to catch a break. The miner’s steelmaking-coal sales are threatened by heavy rain, snow and mudslides....
View ArticleIEEFA update: Teck Resources, wisely, casts doubt on Frontier Oil Sands mine...
Don Lindsay, CEO of Teck Resources, said last week that proceeding with the Frontier Oil Sands project may not happen, even if Canada approves its pending permit. A key reason he cites is the...
View ArticleCost to complete Canada’s Trans Mountain Pipeline project soars to C$12.6...
S&P Global Market Intelligence ($): The projected cost of Trans Mountain Corp.’s plan to almost triple the capacity of its aging oil pipeline network has surged to C$12.6 billion from a last...
View ArticleLow crude prices prompt Teck Resources to write off C$910 million at Fort...
S&P Global Market Intelligence ($): Canadian diversified miner Teck Resources Ltd. swung to a net loss of C$891 million in the fourth quarter of 2019 from a year-ago net profit of C$433 million due...
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