The Lead:
TransCanada Corp.’s Energy East pipeline could one day export oil from North Dakota, according to company plans confirmed by Le Devoir. TransCanada plans to have a new pipeline named Upland in service by 2020 that would connect the shale oil deposits in the U.S. with Energy East, theoretically allowing for one third of the oil in the cross-country pipeline to come from the U.S., reports the paper. Energy security for Canada has been one of the driving arguments among proponents of Energy East.
In Canada:
Ontario Progressive Conservatives are continuing to promote leader Patrick Brown’s endorsement of carbon pricing. In a new advertisement, the PCs compare Brown to other conservative leaders with environmental acumen, including Brian Mulroney.
U.S. natural gas producers plan to sell more in the Canadian market next year, reports Bloomberg. Up to three pipelines could be opened or expanded, reversing the flow in the cross-border gas trade.
Internationally:
Oil prices fell around three per cent yesterday after a short-term boost appeared to fizzle, reports Reuters. Analysts believe one of the reasons could be the continued rise in U.S. stockpiles.
The price drop is putting a renewed focus on the financial strain of major oil producers, reports The Globe and Mail. Countries like Iraq, Nigeria and Venezuela were hedging on help from a rising market.
Noteworthy:
– India’s GSFC backstops first phase of Canadian potash mine (The Globe and Mail)
– Québec n’a pas encore decider comment les Premières Nations seront consultées (Le Devoir)
– Oilfield services group asks Ottawa to fund $500-million oil and gas well cleanup(Calgary Herald)
– Ex-worker says VW destroyed documents, obstructed justice (National Observer)
– Pipeline, camp equipment auction reflects energy sector struggles (Vancouver Sun)
In Opinion:
Any new deal on softwood lumber needs to address the low Loonie – the real cause of disagreement between the U.S. and Canadian sides, writes Dough Smyth in The Globe and Mail.