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Federal Government Announces $1.65 Billion in Aid for Oil and Gas Industry

With the Alberta energy sector reeling from a supply glut and low crude prices, the federal government announced $1.5 billion in loans for the oil and gas sector. The government also provided $100 million in funding related to economic diversification and $50 million in funding for “clean growth” projects. Alberta Premier Rachel Notley was critical of the decision, saying “There’s very little money in this, it’s mostly loans. We didn’t ask for the opportunity to go further into debt… The issue is not finding a market for our product. This does not reflect the kind of responsiveness that we need to see.”

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Annette Verschuren

Annette Verschuren, OC, business executive, entrepreneur (born 24 June 1956 in North Sydney, NS). Verschuren studied business at St. Francis Xavier University and also holds a number of honorary doctorates. Best known for her 15 years as the president of The Home Depot Canada, Verschuren co-founded Toronto energy-storage start-up NRStor in 2012 and serves as its chair and CEO. She has served on several government-appointed bodies and the boards of Canadian businesses and non-profits.

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William Peyton Hubbard

William Peyton Hubbard, politician, inventor, baker, coachman (born 27 January 1842 in Toronto, ON; died 30 April 1935 in Toronto). Hubbard was Toronto’s first Black elected official, serving as alderman (1894–1903, 1913) and controller (1898–1908), and as acting mayor periodically. A democratic reformer, he campaigned to make the city’s powerful Board of Control an elected body. Hubbard was also a leading figure in the push for public ownership of hydroelectric power, contributing to the establishment of the Toronto Hydro-Electric System.

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Pipelines in Canada

Pipelines are systems of connected pipes used to transport liquids and gases — namely oil and natural gas — across long distances from source to market. More than 840,000 km of pipelines criss-cross the country, part of a larger oil and gas sector that employs between 100,000 and 200,000 Canadians. According to Natural Resources Canada, the sector earns the government an average of $19 billion in royalties, fees and taxes each year. It also contributes nearly 8 per cent of Canada’s gross domestic product.

Yet pipelines have also been controversial in Canada over fears that the fossil fuel use they facilitate could be significantly contributing to climate change. In recent years, Indigenous groups, environmentalists, municipalities, mayors and labour unions have opposed numerous pipeline projects they believe could contaminate local waterways through spills and leaks.

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Natural Gas in Canada

Natural gas ranks among the fastest-growing energy sources in Canada and is seen by many in the energy industry as a game-changer, a comparatively clean, low-cost and versatile fuel. It can directly generate power and heat and can be chemically altered to produce a wide range of useful commodity chemicals. It burns cleaner and more efficiently than other fossil fuels, releasing significantly fewer harmful pollutants into the atmosphere. Natural gas is colorless, odourless, shapeless, lighter than air and contains a mixture of several hydrocarbon gases, which are organic compounds consisting of some combination of hydrogen and carbon molecules.

The primary consumers of natural gas are the industrial (54.1 per cent), residential (26.6 per cent) and commercial sectors (19.3 per cent). Canada is the fifth largest natural gas producer after the United States, Russia, Iran and Qatar. Currently, all of Canada’s natural gas exports go to the United States through a network of pipelines, making Canada the largest foreign source of US natural gas imports. At the end of 2016, Canada had 76.7 trillion cubic feet of proven natural gas reserves and had produced 152 billion cubic metres of natural gas that year. It is forecasted that global natural gas consumption will double by 2035.

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Coal in Canada

Coal is a fossil fuel that has been used as a source of energy in Canada since the 18th century. Canada is home to 0.6 per cent of the world’s coal resources. Most of the country’s coal reserves (over 95 per cent) are found in AlbertaBritish Columbia and Saskatchewan. In recent years, the environmental movement has opposed the coal industry for disrupting local ecosystems, creating adverse health effects and for its large contribution to the carbon-dioxide emissions that drive climate change. In an effort to curb harmful emissions, the federal government has signalled its intention to phase out traditional coal-fired electricity by 2030, and Alberta has a plan to achieve the same goal as a province.