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Up to 30 billion barrels of oil equivalent to be found in North American Arctic, report says

The energy up there

According to the U.S. Geological Service, about 412 billion barrels of oil are trapped beneath the pack ice of the Arctic. Precisely who owns the reserves is another question


Husky profit surges 89 per cent

Despite lower output, No. 3 oil producer soars on high oil and gas prices


Creditors say fraud possible in SemGroup collapse

Group of eleven lenders say unauthorized trading may have caused $3.2-billion loss that sank energy trader SemGroup


Oil tumbles below $125

U.S. report shows lowering demand for gasoline


Pengrowth to acquire Accrete Energy

Oil and gas trust offering $95-million in units; move adds reserves in key region

INVESTING

Who benefits from Brazil offshore drilling?

Who will gain from Brazil drilling?

Companies with undersea oil drilling plans stand to make billions


Commentary

The path to efficiency – the U.S. is already on it

Neil Reynolds

Energy economist finds people seek energy efficiency all on their own


Mining

Potash Corp.

Digging deep on Potash

With strong results expected Thursday, a look at the particularly Canadian commodity and company


Oxford Analytica

Oxford Analytica

Record Iranian output belies oil sector travails

A drop in crude prices would pose serious problems for the economy

 

Top Performers

Energy
SymbolCompanyPrice$Chg%Chg
BNG-T Bengal Energy 1.9 0.25 15.15
GZ-T Accrete Energy 5.88 0.55 10.32
SHR-T Sure Energy 1.13 0.07 6.60
FCP-T First Calgary Petroleums 2.5 0.15 6.38
FEI-T Fortress Energy 1.47 0.07 5.00
Mining
SymbolCompanyPrice$Chg%Chg
SMQ-T Sterling Mining 1.45 0.30 26.09
COP-T Coro Mining 1.48 0.10 7.25
RSC-T Strateco Resources 1.75 0.08 4.79
WSA-T Western Areas NL 8.2 0.30 3.80
HEG-T Homeland Energy Group 1.22 0.04 3.39
Metals
SymbolCompanyPrice$Chg%Chg
YNG-T Yukon-Nevada Gold 1.13 0.09 8.65
PPN-T Platmin Ltd 5.49 0.29 5.58
BCD-T BRC DiamondCore 1.5 0.05 3.45
PDL.WT-T North American Palladium 1.39 0.04 2.96
WDO-T Wesdome Gold Mines Ltd. 1.15 0.03 2.68

Oil and Gas 

Canadian oil producers shrug off SemGroup bankruptcy

Husky Energy and ARC Energy listed as among top creditors of energy trader, owed $50.1-million and $26.2-million respectively

Iran says no to OPEC crude output hike

Present market conditions are in a “good situation,” oil minister says

Halliburton profit in line with expectations

Outlook improves as oil and gas companies spend more money on drilling and production; company announces record revenue

U.S. task force says speculation not to blame for oil's rise

Interagency task force chaired by CFTC says supply and demand most likely reason for sharp run-up in prices

Pickens sees $300 oil unless U.S. cuts imports

U.S. will probably import 80 per cent of its oil within 10 years, billionaire oilman says

Hurricane Dolly triggers minor Gulf oil, gas shutdown

5 per cent reduction in output expected to be short-lived as storm expected to make landfall Wednesday

BP withdraws 60 employees from Russia

TNK-BP joint venture's CEO has until Sunday to do paperwork to renew his visa


Mining 

Peabody profit jumps, beats forecasts

Coal miner's second-quarter earnings more than double on soaring global demand

Calgary upstart to turn coal into liquid fuel

Alter NRG plans to build $4.5-billion coal-to-liquids plant that would produce 40,000 barrels a day of fuel by 2014

Freeport-McMoRan quarterly profit dips

World's largest publicly traded copper producer says lower copper and gold sales due to Indonesia mine issues

Western Copper mine proposal approved in Yukon

Yukon Environmental and Socioeconomic Board includes 148 recommendations for project to mitigate environmental and social impacts

Daylight lets Barrick take Cadence Energy

Cadence will pay break fee of $9-million

Potash pushes for even more production

Despite its already ambitious plans, fertilizer colossus will spend $1.6-billion more as it tries to catch up with soaring demand


Metals 

Super hot metal rhenium may soar higher

Production of silvery-white metal fails to keep pace with brisk demand, dwindling stockpiles

Alcoa's Q2 profit sinks 24 per cent on higher costs

Results still exceed analyst expectations


Power 

Seneca calls for auction of TransAlta

Seneca Capital, based in New York, holds around 2.5 per cent of TransAlta and is its tenth-largest shareholder

China oil demand unmoved by power woes

Coal availability and pricing are the key factors this time around, unlike 2004

Alberta nuclear plant will generate 2,700 jobs

Bruce Power facility will contribute $12-billion to province's economy

Fortis: Planting the seeds of empire

Newfoundland's Stan Marshall refines the Fortis Factor as he builds a far-flung utilities giant


Pipelines 

Alaska House backs TransCanada pipeline plan

Lawmakers vote to support Governor's proposal to award exclusive licence to Canadian company

National Energy Board to hold hearings for TransCanada request

Calgary-based pipeline builder seeking switch of Alberta natural gas pipeline system oversight from provincial to federal

Enbridge delays Texas Access

Pipeline from Alberta to Houston being pushed back because oil sands production growing slower than forecast

Keystone pipeline expansion could cost $7B

Project would transport 700,000 barrels a day


Alternative Energy 

U.S. ethanol plants get subsidy cheques

North Dakota's taxpayers paid $1.78-million to build alternative fuel plants

U.K. moves two steps closer to green goal

Scottish Clyde onshore wind farm gains approval while Thames offshore project wins new backers

Texas approves $4.9-billion wind power project

Largest U.S. wind power project will bring west Texas energy to urban areas


Policy 

Carbon-tax policy stirs political tensions

Report due this fall

Troubled waters for miners, environmentalists

Special permissions sought; environmentalists say that would open floodgates to more toxic tailings dumps in natural waters

Overlapping rules leave industry baffled

Companies struggling to figure out how to comply with federal climate change rules now face the added challenge of tough new provincial regulations

A lobby machine that runs on ethanol

A bill's passage by MPs this week offers a textbook case of how to maintain support for a contentious policy in Harper's Ottawa

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