TC Energy Corp will eliminate more than 1,000 construction jobs in coming weeks and halt work on the Keystone XL oil pipeline after U.S. President Joe Biden revoked the project’s presidential permit within hours of being sworn into office, the company said in an email to employees. Calgary-based TC Energy confirmed the authenticity of the email, sent by KXL President Richard Prior on Wednesday and seen by Reuters.
The state of our country’s economy is the biggest issue of the day for Canadians, according to a new poll from IPSOS. The poll has 44 per cent of Canadians choosing the economy as the biggest priority for government, even putting it ahead of healthcare (chosen as the top issue by 36 per cent of those surveyed). All other issues fall far down the list of concerns. When it comes to strategic direction, nearly two-thirds of Canadians (64 per cent) say that natural gas and oil need to be a part of Canada’s recovery and more than half (55 per cent) believe supporting jobs in Canadian natural gas and oil is more important than ever because we need it to kick start our economy.
The COVID-19 outbreak has exposed weaknesses in our global supply chain for critical key industries. As a result, industries around the world are now looking at how they source and operate supply chains. Experts are calling for renewed focus on building local supply capabilities to ensure that Canadian industry can operate effectively in times of disruption. The oil sands could supply one of these raw materials, but it’s not what you think.
The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to the devastating price war between Saudi Arabia and Russia. After a week-long marathon of bilateral calls and video conferences of ministers from the OPEC+ alliance and the Group of 20 nations, an agreement finally emerged to tackle the impact of the pandemic on oil demand.
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