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by Stockwatch Business Reporter
West Texas Intermediate crude for July delivery lost $2.13 to $51.14 on the New York Merc, while Brent for August lost $2.32 to $59.97, its first time below $60 since January (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.48 to WTI, up from a discount of $13.55. Natural gas for July lost one cent to $2.39. The TSX energy index lost 1.78 points to close at 137.60.
The federal government has rejected the majority of the Senate's amendments to Bill C-69, the controversial environmental assessment legislation that critics have dubbed the No More Pipelines Act. The Senate previously approved nearly 200 amendments to the bill, many of which were suggested or supported by the energy industry. Late last night, the government accepted just 62 of them. The rejected amendments include ones that would have put restrictions on who can participate in hearings, made it harder for people to challenge project decisions in court, and eliminated the requirement to consider climate change and indigenous rights during the review process. The government has, however, accepted amendments that would limit the minister of environment's discretion to intervene in hearings, clarify that the review agency can manage public participation to meet strict timelines, and state explicitly that the goal of project reviews is to ensure both economic development and sustainability. The revised bill will be tabled in the House of Commons this week and then sent back to the Senate for a final vote.
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Senate wanted oil tanker ban, meanwhile nuke subs sailing by, nukes from Russia in air everyday, and tankers and huge fishing trawlers in Canadian waters.... yawn... Alberta geniuses promoting business - liars- said stop selling gas to BC 5 million people--- real pro business alright---