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Climate and Environment

    • Oilsands execs say they can't invest in decarbonization any faster, despite profits

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    OTTAWA -

    Oilsands executives insist they are all in on cutting emissions and will make big investments in green technology, but they maintain there isn't a place to invest that money yet.

    Many companies are coming off a year of windfall profits not because they pumped out more product, but because the war in Ukraine and global supply chain crunches pushed world oil prices way up.

    Environment Minister Steven Guilbeault has said repeatedly over the last year that the companies need to prove their commitment by putting some of that cold hard cash into climate initiatives.

    But in an interview with The Canadian Press, Cenovus CEO Alex Pourbaix said the companies are moving "as aggressively as (they) can."

    "We're not yet at the point where we can invest billions in these projects," Pourbaix said.

    Cenovus is one of six oilsands companies in the Pathways Alliance, a consortium created to work together to decarbonize their production entirely by 2050. The companies are looking to spend $24 billion by 2030 on emissions cutting, including two-thirds of that on carbon capture and storage systems.

    However, who will pay for those investments is a point of contention.

    So far, the consortium has spent half a billion dollars on Phase 1 of these projects, according to the alliance's president Kendall Dilling.

    The industry is hoping to see the federal government do more to match the funding being offered by the U.S. government to incentivize the development of clean energy in that country.

    The Liberal government has argued it has already created incentives for the industry, including an investment tax credit for carbon capture and storage projects, and that it's now time for the industry to step up.

    "If they don't make those investments while they're making record-level profits, then when would it be a good time for them to make those investments?" Guilbeault said in an interview last September.

    "If not now, then I don't know when."

    Oil and gas companies have enjoyed record profits in the last couple of years thanks to skyrocketing energy prices. At a time when inflation is at decades-high levels, the growth of corporate profits has come under intense scrutiny, with some calling for windfall taxes to capture the excess profits.

    In a new report from the Canadian Centre for Policy Alternatives, senior economist David Macdonald found that for every dollar Canadians spent on rising prices over the last two years, 25 cents went toward oil and gas sector profits.

    However, Pourbaix rejected the notion that the industry needs to contribute more to government coffers.

    "I think we are already contributing significantly," he said, estimating the industry will pay somewhere between $10 billion and $12 billion in federal taxes this year.

    Pourbaix said countries that have opted for windfall taxes on the oil and gas sector have far less progressive tax systems than Canada.

    However, Andrew Leach, an economics professor at the University of Alberta, said it's difficult to make comparisons across countries because in Canada the industry pays both royalties and taxes.

    And while there is much debate about the appropriateness of windfall taxes, the federal government and some experts are concerned about the industry choosing not to invest these profits in carbon capture projects that would help decarbonize the oilsands.

    "I would worry that their strategy here is, 'We can get Canadians excited about this and that will push the federal government to put more dollars in to defray some of the investment costs,"' said Leach.

    He warned that strategy could backfire as Canadians watch the industry rake record profits and send cash to shareholders.

    "If Canadian started asking, 'Well, if the owners of the oilsands companies aren't willing to make this bet, why should we?' then I think that becomes problematic for them."

    Pourbaix said the spending will come in later phases of these projects and that in the meantime, shareholders need to be rewarded.

    Many of the Canadian oil and gas giants have opted to do that through corporate share buybacks.

    That prompted the federal government to introduce a two per cent corporate stock buyback tax to incentivize companies to reinvest profits rather than reward shareholders.

    But some advocates want to see the federal government go further.

    Keith Stewart, senior energy strategist with Greenpeace Canada, said the fact that the industry won't actually put money behind their rhetoric on climate change is a good reason to implement a windfall tax.

    "They're still waiting for the government to come and pay for them," he said.

    This report by The Canadian Press was first published Jan. 25, 2023

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    Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    BREAKING

    BREAKING

    The New Brunswick RCMP has issued an alert as officers search for an armed teenager in the Moncton and Shediac areas.

    An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    Canada

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • BREAKING

      BREAKING

      The New Brunswick RCMP has issued an alert as officers search for an armed teenager in the Moncton and Shediac areas.

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • BREAKING

      BREAKING

      Michael Ford, Ontario's minister of citizenship and multiculturalism, says he is taking a leave of absence from cabinet to prioritize his health.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    World

    Politics

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    Sci-Tech

    Entertainment

    • It will be the last show for longtime children's TV star Ron (Buck Shot) Barge as a memorial is held Friday in Calgary.

    • Viewers of Jeopardy got a chance to test their knowledge of trivia about B.C.'s biggest city Wednesday night.

    Business

    Lifestyle

    • They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    Sports

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • The Winnipeg Jets have some huge holes to fill on both offence and defence this season.

    Autos

    • An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    • Video of a brazen daylight auto theft which shows a suspect running over a victim in a stolen luxury SUV has been released by police west of Toronto.

    Local Spotlight

    They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

    Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

    The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

    The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

    It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

    A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.

    David Krumholtz, known for roles like Bernard the Elf in The Santa Clause and physicist Isidor Rabi in Oppenheimer, has spent the latter part of his summer filming horror flick Altar in Winnipeg. He says Winnipeg is the most movie-savvy town he's ever been in.

    Edmontonians can count themselves lucky to ever see one tiger salamander, let alone the thousands one local woman says recently descended on her childhood home.

    • Thousands of protesters are expected to march into downtown Vancouver on Friday, demanding more action from their government to address the growing climate crisis.

    • Members of the only organized support group for the Vancouver Canucks are feeling slighted after losing their usual space at Rogers Arena.

    • There have been more reports of a Bitcoin extortion scam seeking to exploit viewers of "adult content" in B.C.'s Lower Mainland, according to the RCMP.

    • BREAKING

      BREAKING

      Michael Ford, Ontario's minister of citizenship and multiculturalism, says he is taking a leave of absence from cabinet to prioritize his health.

    • The Ford government is considering restricting Ontario municipalities from installing new bike lanes that would require the removal of lanes of traffic, a source confirms to CTV News Toronto.

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • It will be the last show for longtime children's TV star Ron (Buck Shot) Barge as a memorial is held Friday in Calgary.

    • China's ongoing ban on Canadian beef appears to have no end in sight, making it a textbook example of the uncertainty Canadian exporters continue to face in that market.

    • Alberta Health Services says an E. coli outbreak at a daycare in Blackfalds has ended.

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • Ottawa Fire Services says a driver has been safely extricated after being trapped following a two-vehicle collision near a high school in the city’s south end.

    • The Ottawa Police Service Arson Unit is seeking witnesses to a fire that happened early Friday morning in a two-storey commercial building in Little Italy.

    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

    • The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

    • A man who asserted his right to work in French has won his case before the Tribunal, invoking the new provisions of the province's French-language law (Bill 96) to that effect.

    • Mounties say there was an increased police presence in the Emerald Hills area of Sherwood Park on Friday morning as officers searched for a man who is wanted by police.

    • Alberta Health Services says an E. coli outbreak at a daycare in Blackfalds has ended.

    • One person has been charged and an arrest warrant has been issued for a second in connection with an Alberta Emergency Alert earlier this week.

    • BREAKING

      BREAKING

      The New Brunswick RCMP has issued an alert as officers search for an armed teenager in the Moncton and Shediac areas.

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes 'indescribable' pain, she struggles to maintain the will to live.

    • A black bear that was tranquilized in a park in Dartmouth, N.S., has been released back into the wild, according to the Nova Scotia Department of Natural Resources and Renewables (DNRR).

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • Manitoba's government says it will encourage the development of renewable energy in the province while acknowledging fossil fuels aren't going away any time soon.

    • The Winnipeg Police Service (WPS) has made an arrest following a fire that claimed the lives of two people.

    • Driving into the tunnels of Nutrien's Rocanville mine, the largest potash mine in the world by production volume, feels like driving down a lonely highway in the middle of the night.

    • A tornado in Langbank, Sask. on Wednesday was the third latest in the province on record, according to Environment and Climate Change Canada (ECCC).

    • With the municipal election fast approaching, Yorkton’s city returning officer shared details on what people need to know before voting, and what to know if they are interested in running for city council.

    • Levels of hydrogen sulfide gas are being monitored at Brantford Collegiate Institute after a leak in their geothermal system.

    • Guelph resident, Susan Bard, is being remembered as a vibrant community advocate and volunteer who died doing what she loved – cycling.

    • The second-degree murder trial of Thomas Hamp is being adjourned until December so an expert witness central to the trial can testify.

    • A 69-year-old woman from Outlook, Saskatchewan is dead and three people are injured after a truck and SUV collided on Highway 15 on Thursday.

    • A gym teacher at a private Christian school in Saskatoon has been charged. Terra MacEwan, 44, is charged with assault with a weapon. A Saskatoon mother who spoke with CTV News says her autistic son was MacEwan's victim.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • Two people emerged unhurt after a float plane had a hard landing late Friday morning on Lake Temiskaming.

    • The Elgin Community Health Hub, operated by the Thames Valley Family Health Team, is accepting new patients to a model where doctors are rarely seen.

    • Members of the 2SLGBTQ+ community and supportetrs greatly outnumbered the people attending a '1 Million March 4 Children' event along Central Avenue.

    • Today, the 71 year old is marking 50 years a paramedic. He said he never aspired to move into management or a desk job, he enjoys being on the road, helping patients too much.

    • Two men from Barrie have been charged after a deadly shooting at a park in Keswick on Wednesday.

    • Provincial police are investigating vandalism in Huntsville after the "senseless destruction" of flower displays along Main Street East.

    • A 17-year-old from Markham is facing serious charges after an August 11 shooting at a party in Caledon.

    • Windsor police say a 25-year-old mother has been charged with the drowning death of her 5-year-old child in the family’s backyard pool.

    • There is no threats to public safety following an incident involving a gun at a local high school.

    • Windsor fire is on scene at an incident on McDougall Street.

    • The Nuu-chah-nulth Tribal Council (NTC) has declared a state of emergency in all 14 of its member First Nations due to a mental health and opioid crisis.

    • In a rare move, the Greater Victoria School District Board of Education has been slapped with a ministerial order from the province requiring it to update a student safety plan – drawing concern around political posturing leading up to an election.

    • The Union of B.C. Municipalities is asking the provincial government to make transit free for teenagers.

    • A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.

    • The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.

    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • A Vulcan, Alta., man has been charged with a Lethbridge woman's murder after her body was found in the Oyen area.

    • A Lethbridge couple got a good reminder as to why you should keep your vehicle doors locked at all times.

    • Lethbridge residents who live near the police range can expect to hear plenty of shots fired Wednesday and Thursday.

    • Ontario Provincial Police say three suspects from southern Ontario have been charged and drugs worth $300,000 have been seized following a traffic stop Sept. 16.

    • A Brampton driver, 27, was charged this week when northern Ontario police stopped the SUV he was driving on Highway 17 after a reported shooting and found more than $100,000 in cash.

    • A new community health profile in the Algoma District shows the area is significantly below provincial averages in a number of health metrics.

    N.L.

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