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Shell says carbon storage without government help would be ‘quite a challenge’


Royal Dutch Shell Plc. unveiled a $1.3-billion carbon capture storage project in Fort Saskatchewan, Alta. on Friday, but said future such efforts to curb greenhouse gases will continue to need financial support from governments. The governments of Alberta and Canada contributed $745 million and $120 million, respectively, to build the …

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Bombardier Inc in talks with Canadian government on CSeries investment: CEO


LAS VEGAS — Bombardier Inc is in talks with the new Canadian government about a further cash infusion into its struggling CSeries jet program, which the planemaker expects to turn a profit by around 2020, according to Chief Executive Alain Bellemare. The long-delayed single-aisle passenger jet program is already billions …

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New Liberal government to release its first fiscal and economic update


OTTAWA — The new Liberal government will open the federal books for Canadians this morning as it releases its fiscal and economic update. It will mark the first time the Liberals present the numbers to the public since they defeated the Conservatives in last month’s election. Finance Minister Bill Morneau’s …

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Sun Life CEO to Trudeau government: Go easy on CPP reforms


TORONTO — The chief executive of Sun Life Financial says Canada’s new federal government should go easy in proceeding with promised changes to the country’s public retirement system, the Canada Pension Plan. “CPP was designed to provide basic income replacement, not to be a panacea,” Dean Connor, CEO of Sun …

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Trudeau government considering immediate $1-billion stimulus for hard-hit Alberta, Saskatchewan


Canadian Prime Minister Justin Trudeau has decided to focus initial stimulus efforts in oil-producing Alberta and Saskatchewan, while waiting to assess whether further stimulus is needed nationwide, according to officials familiar with the plans. The government is in talks to quickly allocate $1 billion for infrastructure projects in the two …

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Liberal government’s new environmental rules for pipelines to be released Wednesday


The Liberal government will announce new environmental assessment rules Wednesday afternoon for energy projects – such as the Energy East and Trans Mountain pipelines – that are currently being reviewed by the National Energy Board. Natural Resources Minister Jim Carr confirmed the timing of the announcement for the “transition” process …

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Quebec government faces lawsuits if it backs out of Anticosti Island oil exploration project


CALGARY / MONTREAL – If the Quebec government backs out of its contract to explore for oil and gas on Anticosti Island, its joint-venture partners say they will sue. Even though the provincial government owns a 35-per-cent interest in the joint venture and has a contractual obligation to help fund …

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Federal government to allocate $250 million to help struggling Alberta deal with oil-price slump


OTTAWA — The federal government has confirmed plans to provide $251.4 million to Alberta under a program designed to help provinces hit by sudden revenue downturns. Alberta has been sideswiped by collapsing oil prices and the little-known fiscal stabilization program provides help when provincial revenues fall by more than five …

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Federal government headed for $150 billion in deficits over next 5 years: TD Bank


OTTAWA — An analysis by one of Canada’s biggest banks says the federal government is on track to run $150 billion in budgetary deficits over the next five years. How reckless, excessive borrowing became Canada's national pastime Philip Cross: Total borrowing in Canada across all categories increased by $77.9 billion …

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