Ottawa Mulls Alberta ‘Aid Package’ as Province Angles for Teck Mine Approval
With an end-of-month deadline looming for a cabinet decision on Teck Resources’ proposed Frontier tar sands/oil sands mine, Ottawa was preparing an “aid package” to cushion the blow for Alberta if it rejects the company’s plan, Alberta said it wasn’t interested in a federal “handout”, and Teck itself was facing stiff financial headwinds that were entirely unrelated to the C$20.6-billion megaproject.
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Coronavirus Drives Sharpest Oil Demand Drop Since 9/11
Oil consumption in China is down 20 to 25% this month and at least one market analyst firm has cut its projection for global oil prices, as the coronavirus drives the biggest demand shock fossils have seen since the 2008 economic crash, and the most sudden one since 9/11.
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Saudi Wealth Fund Misses Out as Tesla Shares Soar 40% in Two Days
After shares in Tesla Inc. soared 40% in two days last week, the company’s fans were inspired, its skeptics were unmoved, founder Elon Musk’s personal wealth ballooned by US$13.5 billion, and a news report said Saudi Arabia’s sovereign wealth fund had missed the fun by selling most of its stock too soon.
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