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“Money is being shovelled into the Canadian oil and gas industry like coal into a furnace,” according to a report last month from ARC Financial Corp., a private equity firm specializing in the sector.

Yet not all is well on the oil and gas front:

— Three years after Harper called the Keystone XL pipeline from Alberta to the U.S. Gulf Coast a “no-brainer,” the White House has yet to approve the project amid massive environmental protests.

— The proposed Northern Gateway pipeline to Kitimat, B.C., remains beset by public antipathy and threats of First Nations lawsuits despite conditional approval by the National Energy Board.

— A Quebec court has temporarily suspended exploratory drilling for an oil terminal in eastern Quebec that is key to TransCanada’s proposed Energy East pipeline project.

— Malaysian oil and gas giant Petronas is currently threatening to pull out of its promised multibillion-dollar liquefied natural gas project in British Columbia, while Norway’s Statoil put a major oil sands investment on hold last month.

— Total and Suncor Energy Inc. put their $11-billion Joslyn North oilsands project on hold indefinitely earlier this year.

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Via Canada’s lax climate policy hasn’t resulted in ‘energy super power’ status  (via allthecanadianpolitics)

(Source: vancouversun.com)