Energy

Canadian train disaster boosts Keystone XL pipeline – Chicago Tribune

North American railroads typically transport oil and other hazardous materials with care and caution. Yet the disastrous train wreck in Lac-Megantic on the U.S.-Canadian border points to the risks involved. A runaway train carrying crude oil exploded in a fireball, devastating the town. In all commerce, public safety risks have to be weighed. This frightening crash points to a fact […]

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Canada’s Got Oil, But What Are We Going to do With It? | The Motley Fool

Canada is the sixth largest producer of oil and ranks third in the world for total proven reserves, mostly thanks to Alberta’s oil sands.  This oil rich area of Canada now accounts for approximately 98% of Canada’s proven oil reserves. Nearly all of the oil exported by Canada is targeted to our neighbor to the south, the United States. Though […]

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Death Toll in Canada Oil Train Disaster Set to Increase, U.S.-Canada Oil Shipment Via Train Criticized – Commodities & Futures

The quiet town of Lec-Megantic, Quebec, Canada was rocked with a massive catastrophe as an oil train was derailed from its tracks and the tanker cars exploded. The train oil tanker that got derailed in Lec-Megantic, Quebec left at least 13 people dead, 50 people missing and around 6,000 residents displaced. After the accident was declared under control, authorities were […]

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Obama’s Remarks Offer Hope to Opponents of Oil Pipeline – NYTimes.com

The political ground may be shifting under the Keystone XL pipeline. Just weeks ago, the smart money in Washington had President Obama approving the cross-border oil pipeline later this year, perhaps balanced with a package of unrelated climate change measures. The seemingly inevitable decision would leave the pipeline’s opponents — a group that includes a large number of Mr. Obama’s […]

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When the U.S. doesn’t need Canadian oil – The Globe and Mail

Could it be that a keystone belief and a bedrock of prosperity in Canada might disappear over the next two decades?For a long time, it has been assumed that whatever surplus oil and natural gas Canadians could produce would be gladly purchased by the United States. “Pump it and they will come” has been an underpinning reality for Canada’s economy. […]

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