Trans Mountain Pipeline
- Kinder Morgan has suspended all “non-essential” spending on its Trans Mountain pipeline
- Federal Finance Minister Bill Morneau said: “We know that showing Canada is a place where important projects can get done is critically important”.
- Premier Notley stated that Alberta is ready to take a stake in the project if that is what it takes to keep it going.
- CN Rail and CP Railway are reluctant to add crude-by-rail capacity until oil companies commit to shipping set volumes for the long run.
Oil, Gas & Energy
- Shell Canada is testing a battery powered by a little-known metal found in bitumen.
- Bahrain discovered an enormous shale oil resource under its shallow waters. Resources probably stretch into Saudi and Qatari waters.
- U.S. gas output is expected to expand by 24 billion cubic feet, or 32%, through 2025 from last year.
- Industry needs to spend $170 billion over the next 7 years on pipelines, compressor stations, export terminals and other related infrastructure
- The Permian Basin may have to slow down the output of crude due to limited capacity to handle the gas that’s flowing as a byproduct
- Softwood lumber exports from B.C. to the U.S. plunged 20% Y/Y.
- First-quarter shipments from the B.C. Interior, which account for more than 90% of B.C.’s lumber exports, down 18% Y/Y, largely due to transportation issues. B.C. Coastal shipments were 36% lower.
- Total Canadian shipments in the first three months were down 17.4%.
- Shipments from Quebec — Canada’s second-largest forestry producing region — were down 16.6% in the first quarter and Ontario was 8.6% lower. Alberta was down 28% while the Maritimes were nearly 5% higher.
- Rail issues include cold weather which affects the length and speed of trains.
- Global debt rose to a record $237 trillion in the 4th quarter of 2017, more than $70 trillion higher from a decade earlier.
- Iran was hit by a cyber-attack leaving a U.S. flag on screens along with a warning: “Don’t mess with our elections”.
- Initial coin offerings (ICOs) generated $5.6 billion in 2017, and were mainly driven by speculative investments.
- Toronto-based Bunz Inc. is touting Bunz Trading Zone (BTZ) as the first Canadian cryptocurrency launched to an already-established community – its own members.
- Apple Inc.’s sites worldwide are now completely powered with clean energy, including retail stores, offices, data centers and co-located facilities in 43 countries.
- China is investing in roads with solar panels, mapping sensors and electric-battery rechargers, embedded underneath transparent concrete, as the nation tests an “intelligent highway” that could speed the transformation of the global transportation industry.