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Alberta

“…Canadians do not understand the importance of the Oil and Gas industry…”

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Producers Note:

Just a beautiful piece of scenery here. We’re so lucky to be in a part of the country where within an hour we can get to the mountains and experience such a beautiful gift that Mother Nature has given us; the Rocky Mountains. Could there be anything more beautiful than white snow, green trees, rich dark grey rocks and blue sky. Thank you, Harry for inviting us out to Canmore to lean on you for your expertise.

 

“…The conversation around energy and climate, particularly here in Canada has become polarized I think because Canadians … Canada’s an odd country, Canada’s a very large country, from sea to sea to sea, and Canadians don’t really appreciate the importance of the Oil and Gas industry. The Oil and Gas industry is Canada’s largest export industry. It is the backbone of the whole Canadian economy. That’s understood in Alberta and British Columbia and parts of Saskatchewan but it’s not really understood in many parts of Canada.  And this is in contrast to countries like Norway. In Norway everyone understands that their prosperity is based on the the Oil and Gas industry. Everyone knows in Norway that the reason they have great healthcare and great education systems is because of their Oil and Gas industry.  They are also a progressive European country that is a signatory to the Paris Agreement is working toward a lower carbon ecomony, but, they’re doing so in a way that maintains their oil and gas industry…”  Harrie Vredenburg, Professor, U of C Suncor Energy Chair

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Leading storyteller for social issues in Canada including energy, mental health, and social enterprise. WeMaple division of Business on Camera (BOC).

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Alberta

Calfrac Well Services reports Q4 profit due to debt settlement gain

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CALGARY — Calfrac Well Services Ltd. reported a fourth-quarter profit of $125.9 million, boosted by a gain on the settlement of debt.

The oilfield services company says the profit for the quarter ended Dec. 31 amounted to $2.19 per diluted share.

The result included a $226.3-million gain on the settlement of debt and a $54.2-million deferred income tax expense.

Calfrac posted a net loss of $49.4 million or $17.07 per share diluted in the fourth quarter of 2019 when it had fewer shares outstanding.

Revenue totalled $180.7 million, down from $317.1 million a year earlier.

Calfrac underwent a recapitalization plan late last year that saw holders of its senior unsecured notes swap debt for shares, leaving existing shareholders with a reduced stake in the company.

This report by The Canadian Press was first published March 4, 2021.

Companies in this story: (TSX:CFW)

The Canadian Press

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Alberta

Alberta pastor charged with breaking COVID-19 health orders to appeal bail conditions

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EDMONTON — An Alberta pastor accused of holding Sunday services that violated COVID-19 rules is to appeal his bail conditions today.

James Coates with GraceLife Church, west of Edmonton, has been in jail for just over two weeks.

Coates is charged with violating Alberta’s Public Health Act and with breaking a promise to abide by conditions of his bail release, which is a Criminal Code offence.

The church has been holding services that officials say break public-health orders on attendance, masking and distancing.

A judge has ordered Coates to go to trial in May.

A lawyer with the Justice Centre for Constitutional Freedoms is representing the pastor.

The group says the lawyer will argue that his client’s imprisonment and the charge he faces violate his charter freedoms of conscience, religion, association and peaceful assembly.

The judge is also to hear a statement from Coates’s wife about the effect the pastor’s imprisonment has had on his family and community members.

“Charter freedoms do not disappear because the government declares regular church services to be outlawed, while allowing hundreds of people to fill their local Walmarts,” Justice Centre president John Carpay said in a statement.

“Pastor Coates is a peaceful Christian minister. The justice of the peace should not have required him to violate his conscience and effectively stop pastoring his church as a condition to be released. This is a miscarriage of justice.”

The church has continued to hold services, even though Coates is in jail. Many gathered again on the weekend as RCMP and Alberta Health Services monitored the situation.

“Observations were again made that the church held a service beyond the designated capacity,” the Mounties said in a news release.

“The Parkland RCMP remain engaged in continued consultations with several partner agencies to determine the most productive course of action in relation to the church.”

Police fined the church $1,200 in December and a closure order was issued in January.

Coates had been addressing the province’s health restrictions in his sermons. He told worshippers that governments exist as instruments of God and there should be unfettered freedom of worship.

This report by The Canadian Press was first published March 4, 2021

Fakiha Baig, The Canadian Press

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