Wed, Aug 27, 2014, 5:43 AM EDT - U.S. Markets open in 3 hrs 47 mins


% | $
Quotes you view appear here for quick access.

Exxon Mobil Corporation Message Board

  • bluecheese4u bluecheese4u Aug 22, 2013 8:10 PM Flag

    TransCanada’s eastern path hits snag in Ontario


    TransCanada’s eastern path hits snag in Ontario

    OTTAWA — The Globe and Mail
    Published Thursday, Aug. 22 2013, 5:00 AM EDT
    Last updated Thursday, Aug. 22 2013, 7:35 AM EDT

    The Ontario government wants assurances that the province will benefit economically from TransCanada Corp.’s pipeline project to ship crude from Alberta to refineries and export terminals in eastern Canada.

    “There is a lot of concern that the majority of the oil … will be for export, and that Ontario will only be a conduit to facilitate oil from tar sands to go to foreign markets,” Energy Minister Bob Chiarelli said in an interview Wednesday

    Ontario’s Liberal government will intervene in regulatory hearings as well to ensure the Calgary-based pipeline company addresses safety and environmental concerns surrounding its proposed oil pipeline.

    Ontario’s concern may throw up another hurdle for TransCanada before starting the $12-billion project. Some industrial gas users in Ontario and Quebec have argued that the loss of capacity on the gas pipeline will limit their access to the fuel and drive up transportation costs, thereby undermining their competitiveness.

    With ringing endorsements from Alberta, New Brunswick and the federal government, the Calgary-based pipeline company announced earlier this month it would transform portions of its main west-to-east natural gas line to serve western oil producers eager to develop new markets.

    The possible reduction of natural gas service in Ontario will be part of the project‘s assessment by the federal government, Mr. Chiarelli said. TransCanada says it will ensure gas customers who are willing to lock into long-term contracts receive service, though costs may escalate if new capacity is needed..

    The province does not assert the right to block the pipeline, Mr. Chiarelli said, explaining that regulation of interprovincial pipelines falls under the exclusive jurisdiction of the federal government. “The only con

    This topic is deleted.
99.64+0.89(+0.90%)Aug 26 4:01 PMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.