U.S. punts tricky pipeline decision past 2012 election
WASHINGTON (Reuters) ? The U.S. government on Thursday delayed approval of a Canada-to-Texas oil pipeline until after the 2012 U.S. election, bowing to pressure from environmentalists and sparing President Barack Obama a damaging split with liberal voters he may need to win reelection. The decision to explore a new route for TransCanada Corp's Keystone XL oil pipeline to avoid fragile territory in the Sand Hills of Nebraska dismayed the Canadian government, which had lobbied assiduously for the $7 billion project.
Canada's tiny Arctic port faces uncertain future
WINNIPEG, Manitoba (Reuters) - Every summer for three months, the Hudson Bay ice breaks up and ships load Canadian Prairie grain for export, putting more than 100 people to work in the tiny northern Manitoba town of Churchill. The town of just 900 - well known for the polar bears that often wander through its streets - is Canada's only Arctic port. But that key driver of the local economy could become as endangered as the polar bear next year when the Canadian Wheat Board, the port's biggest shipper, loses its monopoly on marketing Western Canadian wheat and barley.
Saskatchewan re-elects government; potash royalties firm
WINNIPEG, Manitoba (Reuters) - Brad Wall's Saskatchewan Party romped to the biggest election victory in decades on Monday in the resource-rich western Canadian province, promising to leave potash royalties unchanged for the next four years. Saskatchewan holds one of the world's richest reserves of potash -- a mineral mined to fertilize crops -- and royalties typically add hundreds of millions of dollars to the provincial treasury each year.
State Dept eyes rerouting Keystone XL pipeline
WASHINGTON (Reuters) - The State Department is considering rerouting TransCanada Corp.'s proposed $7 billion Keystone XL pipeline to avoid ecologically sensitive areas of Nebraska, a U.S. official said on Tuesday. The State Department has been weighing issues raised in public meetings and talks with officials in six states that would be affected "including whether to consider a rerouting of the Keystone XL pipeline away from an environmentally delicate area of Nebraska," the official said.
Unions ground Air Canada's low-cost carrier plan
TORONTO (Reuters) - Months of labor conflict have stalled Air Canada's plans for a low-cost carrier, but Canada's biggest airline says it has not given up the idea. Air Canada, which teetered on the edge of bankruptcy two years ago, has struggled to bring down costs and turn consistent profits, and Chief Executive Calin Rovinescu says the low-cost leisure market is too good an opportunity to ignore.
Canada defiant after U.S. oil pipeline rebuff
OTTAWA/CALGARY (Reuters) - Canada will keep promoting crude from the tar sands of northern Alberta as a secure source of energy despite a U.S. decision to delay approval of a pipeline to carry the oil from Alberta to Texas, officials said on Thursday. The Canadian government and the oil industry have limited options, however, as another controversial proposal to build a pipeline to export tar sands crude to Asian markets is just at the beginning of a lengthy review process.
Canada new home prices up 0.2 percent in September
OTTAWA (Reuters) - New home prices in Canada increased by 0.2 percent in September, the sixth consecutive month-on-month rise, on continued strength in the heavily-populated Toronto area, Statistics Canada said on Wednesday. The growth in the new housing price index matched analysts' expectations. Prices rose 2.3 percent in the 12 months to September and since mid-2010 have been well above the pre-recession levels of 2008.
Bank of Canada's 2 percent inflation target renewed
OTTAWA (Reuters) - The government and the Bank of Canada agreed on Tuesday to renew without change the central bank's five-year mandate to target a 2 percent overall inflation rate. That contrasts with the dual mandate of the U.S. Federal Reserve to target inflation and employment. The Bank of Canada had examined and rejected the idea of lowering the inflation target and also of targeting price levels instead.
Canada's PM says oil pipeline still has US support
CANNES, France (Reuters) - Canadian Prime Minister Stephen Harper said on Friday he sees overwhelming U.S. support for TransCanada Corp's Keystone XL oil pipeline to Texas from Canada's oil sands, despite recent signs of reticence in Washington. Harper, who was in France for the G20 summit, said he did not interpret U.S. President Barack Obama's remarks this week as pointing to a rejection of the $7 billion pipeline proposal, which is opposed by environmental groups.
Crocodile Gold posts Q3 loss
(Reuters) - Crocodile Gold Corp reported a quarterly loss, hurt partly by higher costs, and lowered its production forecast for 2011. The company reported a third-quarter net loss of $6.1 million, or 2 cents a share. In the same quarter last year, it posted a net income of $2.4 million, or 1 cent a share.
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