BC Business
Plus, Suncor's $147-million deal with First Nation, coal beats LNG in Asia, and the big silence in U.S. presidential race
Saskatchewan Premier Brad Wall was none too happy when Prime Minister Justin Trudeau announced his carbon pricing plan two weeks ago, calling it “a betrayal” because the provinces weren’t consulted. On Tuesday at a lunch event at the Regina and District Chamber of Commerce, he proposed his own plan. As an alternative to carbon taxes or cap-and-trade, he wants Ottawa to take its $2.65-billion, five-year commitment for anti-climate change measures in developing countries and use it instead for research and innovation in Canada. The money could be used to develop technology that could reduce emissions worldwide, with technologies like carbon capture and storage and small nuclear reactors, he said. (CBC)
Suncor Energy Inc. is selling another stake in an oil-storage terminal to an Alberta First Nation as the company seeks stronger ties with aboriginal groups in the northern oil-sands region. Suncor said the Mikisew Cree First Nation would pay about $147 million for a 14.7 per cent interest in the company’s East Tank Farm, which is under construction north of Fort McMurray, Alberta. The deal is expected to close in the second quarter of 2017, subject to the aboriginal group obtaining financing and other conditions. (The Globe and Mail)
One of Premier Christy Clark’s arguments in favour of the LNG industry in B.C. has been that it will replace carbon-producing coal in China as a source of energy, and it is therefore “green.” Whether LNG will be able to compete with coal in Asia, however, is not a sure thing. While coal prices have spiked by 90 per cent this year, natural gas has struggled to compete in Asia’s power generation mix since it is typically more expensive to produce electricity from gas than coal. (Hellenic Shipping News)
The 2016 U.S. presidential debates have offered viewers plenty of talk about risky emails and risqué remarks. But how about something that poses an enormous risk to the entire world? Global warming, anyone? (Bloomberg)