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Alberta

Oil prices hit seven-year highs; US$100 oil possible this winter, experts say

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CALGARY — Experts say the price of crude oil could hit US$100 per barrel this winter.

The return of travel and the easing of pandemic restrictions around the globe has sent demand for oil skyrocketing. Oil prices are already at seven-year highs.

The North American benchmark West Texas Intermediate price Monday hovered around US$78 per barrel. Experts say crude prices could spike even higher this winter, especially if a rebound in air travel drives up demand for jet fuel.

The last time oil was US$100 per barrel was in 2014. It spurred major expansion and growth in Canada’s energy sector.

But experts say the oilpatch is leaner now after years of low prices. They say the current spike in prices likely won’t mean a lot of new hiring or the announcement of new oilsands projects.

Adam Legge with the Business Council of Alberta says companies will likely take advantage of high prices to invest in emissions reductions technology instead.

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

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Alberta

Regulator lays charges against Tidewater Midstream for acidic water release

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CALGARY — The Alberta Energy Regulator has laid charges against Tidewater Midstream and Infrastructure Ltd. for a release of acidic water in west-central Alberta.

The regulator says the release occurred in Oct. 2019 at Tidewater’s Ram River sour gas processing plant near Rocky Mountain House. 

It says the acidic water flowed into a nearby creek.

Calgary-based Tidewater has been charged with 10 violations under the Environmental Protection and Enhancement Act, including releasing a substance to the environment that caused or may have caused an adverse effect. 

The regulator also alleges that Tidewater failed to report the release of the acidic water as soon as possible, and failed to take all reasonable measures to repair and remedy the spill.

Tidewater is scheduled to appear in court on Dec. 8 in Rocky Mountain House.

This report by The Canadian Press was first published October 21, 2021.

Companies in this story: (TSX:TWM)

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Alberta

Alberta's top doctor says COVID-19 cases receding but vigilance needed at Halloween

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EDMONTON — Alberta’s chief medical officer of health says COVID-19 case numbers in the province continue to recede.

But Dr. Deena Hinshaw cautions that the hospital situation remains precarious given the high number of patients.

And she says Albertans can’t afford to let up on health restrictions, particularly with Halloween coming up.

There were 770 new cases of COVID-19 Thursday for a new total of 10,434 active cases.

There were eight more deaths, bringing that total to 3,014.

Alberta Health Services says there are 912 people in hospital with COVID-19, and that 201 of them are in intensive care.

Alberta remains under gathering restrictions for indoor and outdoor events, and Hinshaw says it’s important to stick to those limits at Halloween.

Hinshaw urged those setting out candy for trick or treaters to not use bowls, but to set out the candy spaced apart on a surface like a blanket.

She says those who want to have a Halloween party should consider a small gathering of vaccinated people.

“This is not the year for large Halloween parties,” Hinshaw said.

“If you’re planning a Halloween gathering try to have it outdoors and make sure the limit of no more than 20 people is observed.”

Hinshaw noted that last Oct. 31 there were 5,600 active COVID-19 cases, about half the current total. There were 141 people in hospital with the illness a year ago.

Alberta continues to battle a fourth wave of the pandemic.

It has more than doubled the normal number of 173 critical care beds and has had to cancel thousands of non-urgent surgeries to handle the surge.

Opposition NDP Leader Rachel Notley says with winter coming and COVID-19 still circulating, the province needs to provide stable funding to social agencies for winter emergency shelters.

“All people deserve to live in dignity and have a safe place to call home,” said Notley. “These calls are urgent. It’s getting cold outside, and our northern winter will be here soon.”

This report by The Canadian Press was first published Oct. 21, 2021.

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