As the year rolled to a close, Russ Girling, chief executive officer of TransCanada Corp., repeated on television what he has often said: he’s “very confident” that President Barack Obama will approve the Keystone XL pipeline.
Energy companies with refineries such as Cenovus Energy Inc. were the darlings of Canada’s oil patch a year ago. Now they’re out of favor with some investors as a 15 percent rise in crude prices squeezes refining profits.
A labor dispute between Canada and its diplomats will hinder government efforts to lobby the U.S. for approval of TransCanada Corp.’s Keystone XL pipeline, the head of the foreign-service workers’ union said.
Canadian Prime Minister Stephen Harper has vilified political opponents who support a tax on carbon-dioxide emissions. The oil-sands industry, Canada’s fastest growing CO2 polluter, says he’s out of step.