The Norwegian global oil company Equinor has announced it will be postponing an offshore oil project near the coast of Newfoundland & Labrador for at least three years because of rising costs. Equinor’s Bay du Nord oil project consists of several oil discoveries in the Flemish Pass basin, located in international waters about 500 kilometres northeast of…

The five largest Canadian banks have doubled their funding for oil sands production and related projects in Canada to $16.8 billion last year, amid a global energy shortage, according a April 11 report by the Financial Times. This is despite the five leading Canadian banks’ agreement last year to join the U.N.’s Net-Zero Banking Alliance, led…

Conservative leadership candidate Pierre Poilievre vows to end imports of overseas oil within five years if elected as prime minister. At a campaign tour on Friday in Saint John, New Brunswick, Poilievre said he will do so by banning imports from “polluting dictatorships,” doubling Newfoundland’s oil production, and supporting projects that move western Canadian oil…

Conservative MP and leadership candidate Pierre Poilievre vows to end imports of overseas oil within five years if elected prime minister. During a campaign stop on Friday in Saint John, N.B., Poilievre said he will do so by banning imports from “polluting dictatorships,” doubling Newfoundland and Labrador’s oil production, and supporting projects that move western…

The developers of the Keystone XL pipeline, TC Energy Inc., are seeking $15 billion against the U.S. government in compensation for money already spent developing the canceled pipeline. President Joe Biden killed the pipeline earlier this year, citing climate change, following a 13-year dispute lasting three presidential administrations. According to a Nov. 22 press release, TC Energy filed a…