Harper at G-8 Seeks Russian Gas Contracts

Canadian Prime Minister Stephen Harper, in his first appearance at a Group of Eight summit in Russia, is leading efforts by the world's biggest economies to gain greater access to Russian natural gas, potentially triggering more than C$6 billion a year of contracts for Canada.

Harper will make the case for Russia to open up its oil and gas reserves to investment at the 3-day St. Petersburg meeting that starts tomorrow.

Russian President Vladimir Putin, who says energy security is the summit's chief concern, is resisting pressure from the US and Canada to hand more control of its assets to private investors. Canada, which aborted its experiment with price controls and state ownership of the energy industry two decades ago, has been highlighting its success at attracting investment.

Canada hopes to turn itself into a key transit point for liquefied natural gas shipped to North America, in part by allowing gas companies to bypass more stringent regulatory requirements along the US's heavily populated eastern seaboard. At least eight Canadian gas projects are scheduled for construction by the end of this decade.

Some are struggling to find supplies. The Woodlands, Texas- based Anadarko Petroleum Corp. had said it was slowing construction of a gas terminal in Nova Scotia because of supply concerns, before announcing last week it was selling the project to a private equity business.

Petro-Canada and Madrid-based Repsol YPF SA, both developing gas terminals in eastern Canada, are in negotiations with Moscow- based OAO Gazprom, the Russian state-run company that extracts a fifth of the world's gas, to secure supplies of liquefied natural gas.

Chevron Corp., based in San Ramon, and Houston-based ConocoPhillips are among the five companies being considered by Gazprom for a role in the Russia's $20 billion Shtokman project, which plans to start supplying LNG to North America by 2011.

Canada is alone among the world's biggest economies with the reserves and authority to speak on the issue. The country is the second-largest exporter of natural gas behind Russia, and ninth- largest exporter of oil.

Like Russia, Canada's economy is in the midst of an energy boom as commodity prices soared. Oil prices are up 28 % from a year ago and futures touched a record $78.40 a barrel in New York today.

The cash flowing into Russia from those energy exports makes it harder for the West to make its case. Russia last month raised the barrier for investment from abroad in its oil and gas sector under a draft law that would bar foreigners from controlling larger fuel deposits.

Harper can point to Canada's promising energy outlook as an example for Russia to follow. The rise in oil prices has been stoking interest from Chevron, The Hague-based Royal Dutch Shell Plc and others, particularly in Alberta's tar sands. Businesses are set to spend about C$73 billion in the next 20 years to boost output in Alberta alone, according to the province's energy Minister.

The investments will bolster Canadian oil output by more than 80 % to 4.6 million barrels daily by 2015, the Canadian Association of Petroleum Producers estimates.

Rules Are Changing For U.S. Travelers to Canada

By the end of 2007, all American citizens will need a valid passport to get back into the United States from any other country, including Canada.

NAV CANADA to Reduce Service Charges

NAV CANADA is pleased to announce the withdrawal on September 1, 2006 of its average 2 per cent charge implemented on August 1, 2003 to rebuild the Rate Stabilization Account to $50 million.

This is good news for our customers and the travelling public. They are once again in a position to pass on savings while continuing to operate one of the safest and most advanced air navigation systems in the world.

Government of Canada Support Careers in Transportation

The Honourable Lawrence Cannon, Minister of Transport, Infrastructure and Communities today announced the official release of the Western Transportation Advisory Council's (WESTAC) youth-oriented "Careers in Transportation" website,TranspoCity/TranspoVille, which was funded through two contribution agreements with Transport Canada.

"Canada's transportation system will not continue to thrive if it does not attract our youth," said Minister Cannon. "This funding demonstrates the new Government of Canada's commitment to advancing and promoting transportation-related skills — with particular emphasis on youth who are in the process of making education and career decisions."

Through these two contribution agreements, Transport Canada has provided a total of $120,000 to WESTAC for the development, translation, implementation and enhancement of the TranspoCity/TranspoVille website

The website, designed for Canadian youth, highlights the variety of interesting careers in demand in today's transportation industry. The site is interactive, educational and provides information on transportation careers. The funding will expand the scope of the website to make it more appealing to both French and English speaking audiences and to include information about several additional transportation careers.

"All the same bells and whistles that made the original version so successful are also available on the new site," says Ruth Sol, WESTAC president. "TranspoCity.ca allows this to be a truly national initiative; it also highlights a broad array of opportunities in transportation that require different levels of education and training."

This project meets the objectives of the Government of Canada's Innovation Strategy for skills development, which is designed to help build a first-class workforce

The website contains extensive information on the diverse types of jobs in transportation, including: pay scales; education and training requirements; links to educational and training programs; career paths; and interviews with young people working in the transportation industry.

The original TranspoCity website was launched in May 2005, and, according to February 2006 statistics, receives approximately 75,000 hits per month.

For more information on TranspoCity/TranspoVille, please visit www.transpocity.ca.

Oil Prices Near $76 a Barrel

Oil prices are at record levels this morning, within striking distance of $76 a barrel.

On the New York Mercantile Exchange, oil shot up to $75.89 this morning, up 94 cents and surpassing the previous intraday high of $75.78 set last Friday.

Among the factors driving oil higher:

• tensions in the Mideast, as Israel intensifies military operations in Gaza and Lebanon
• in Nigeria, rebels set off explosions at facilities belonging to oil company Agip
• Iran says it will not give up any part of its nuclear program
• declining oil and gasoline inventories in the U.S.

Oil market analysts also warn there is potential for even higher prices as the U.S. hurricane season unfolds.

Prices for heating oil, gasoline and natural gas futures were also higher.

The U.S. Energy Department said Wednesday commercially available crude oil stocks shrank by six million barrels to 335.3 million barrels last week, though crude supplies are still two per cent higher than last year.

Oil Prices Hit a New High Near $76 US a Barrel Thursday

Oil prices hit a new intraday high near $76 US a barrel Thursday in a market agitated by escalating violence in the Middle East and news of explosions on Nigerian pipelines.

With little prospect of any good news on Nigeria, Iran and global demand any time soon, the risks remain on the upside and the prospect of a move to, and through, $80 per barrel must be very real, very soon.

The hurricane season in the Gulf of Mexico could be a catalyst for even more price spikes.

Also weekly US government data showed a sharp decline in domestic crude oil inventories.

Coming to a station near you...

Summer is here, which means it is time to consider how you will keep cool during the heat of the season.

Venezuela's Citgo Cuts Supplies to US Gas stations

Venezuela's state-owned oil refining subsidiary in the US is to halt petrol distribution to about 1,900 filling stations in the US, although the company denied on Wednesday the decision was motivated by tensions between Caracas and Washington.

Citgo, which is wholly-owned by Petróleos de Venezuela, said the decision to stop supplying gasoline to some 15 per cent of its 13,100 US brand-bearing franchises had been taken for business reasons.

Canadians Commuting More and More

Canadians are spending more of their lives getting to and from work — a whopping 12 days a year.

Based on data from the 2005 General Social Survey, commuters spent an average of 63 minutes a day making the round trip, the equivalent of nearly 275 hours of commuting.

The average travel times were significantly higher in 2005 than in 1992 in five of Canada's six largest urban areas and were up for both car and transit users.

Toronto topped the charts, with residents there suffering an average 79 minute-round trip commute — roughly 340 hours a year or two solid weeks.

Calgarians and Montrealers also saw big gains in the last survey compared to 1992 levels.

The average slog to work for Montrealers took 76 minutes, an extra 2.5 days a year, while Calgarians saw their commutes swell by about 14 minutes, bringing the total to 66 minutes.

The study blamed Calgary's rapidly expanding population and vigorous economic growth for the increased traffic congestion.

Vancouver, on the other hand, has remained steady over the last decade, with round trip commutes holding at about 67 minutes last year.

It didn't matter whether people were traveling by car or public transit, commute times for both modes of transport increased in all regions of the country.

In Quebec, for example, the proportion of workers who take 90 minutes or more to get to work and back jumped from 15 % in 1992 to 27 % in 2005.

The survey data does little to bolster the cause of public transit advocates, as the results showed car drivers spend much less time getting to work than transit users.

Only 13 % of bus or subway riders could make the round trip in under an hour, compared to 55 % of car drivers. The average time for public transit users was 106 minutes compared to 59 minutes for those traveling by car. The survey also showed the public transit advocates' message about the benefits of leaving the car at home isn't getting through to drivers.

Despite environmental concerns, higher fuel costs and traffic congestion, the percentage of workers using a car to commute remained stable in 2005 at around 86 %. About 12 % hopped on the bus or subway for all or part of their commute and about 11 % of workers made the trip by foot or bicycle.

In Canada's six largest metropolitan centres, about 20 per cent made use of public transit in 2005, virtually the same proportion as in 1992.

So what's the fastest way to get to work? The study controlled for the obvious factors that influence commute times — distance from the workplace, transportation mode and metropolitan area of residence — to determine the ideal scenario. Those who live in areas with a population under 50,000 people, live less than five kilometres from work, commute by car, have no children to drop off and pick up, and who make no stops, fare the best. Those people spend on average about 25 minutes on the round trip between work and home.

More statistics from the survey:

• Dropping off or picking up kids tacks on an added 21 minutes to the round trip
• On average, public transit users spend 41 minutes longer on their commute than car drivers
• A round trip is predicted to be 12 minutes longer for workers who car pool

Average travel time in Canada's major cities:

• Ottawa-Gatineau — 65 minutes
• Toronto — 79 minutes
• Montreal — 76 minutes
• Vancouver — 67 minutes
• Calgary — 66 minutes
• Edmonton — 62 minutes

Transit Passes to Be Taxed Soon

It appears the government is looking to tax the transit passes given to family members of transit workers.

The Canada Revenue Agency (CRA) is moving to not only tax those family transit passes, whether they are used or not, but to do so retroactively to 2003.

The “tax grab” would affect about 4,000 people in Ottawa.

The move by CRA is in the relatively early stages and wanted us to intervene on it right away.

Transit workers are turning in their family member pass in fear of having to pay exorbitant back taxes.

CRA is simply applying the law regarding taxable benefits as it was prior to July 1, when the government’s new budget took effect.

CRA consider the transit pass tax credit when making their audits of all taxable benefits.

What Happened to the GST Cut on Gasoline

Canadian drivers can be forgiven for scratching their heads at the pumps and wondering what happened to the GST cut on gasoline.

Since the federal tax on goods and services was cut to 6 % from 7 % on Canada Day, the average retail gas price has risen almost 4 cents a litre to $109.6.

Even with the lower GST (generally worth about a penny a litre less), the government is still collecting as much tax on each litre at $109.6 as it did back in March when the average price was 98.6 cents (a total of 33.3 cents in tax from all governments), according to a departmental chart.

This is entirely predictable. Any cut has been lost in the rise in price of gasoline. That 1 % in GST revenue has effectively gone from federal coffers and public programs into private pockets

The companies are just going to suck in that 1 cents GST that was announced.

Masse pointed out that the Conservatives, prior to the last election, had argued in favour of not charging the GST on gas beyond the 85 cents mark.

That policy was rejected in favour of the party's promise for broader tax relief with an across-the-board cut to the GST.

A further cut to 5 % is also promised.

But Calgary-based petroleum marketing specialist Michael Ervin said the rise in price shouldn't be seen as proof that gas stations are simply swallowing up the penny-a-litre GST cut rather than passing it on to consumers.

To look at the price of gas itself and draw conclusions is impossible.

Jim Fraser, who runs his own gas station and towing service in Arnprior, points out that drivers are also paying an extra 1.7 cents or so per litre worth of GST simply because it is also charged on provincial and other gas levies.

Ottawa Approves Light Rail Project

Ottawa gives $780 million light rail project green light story byline/credit: Jake Rupert story content: By a good margin, Ottawa City voted to go ahead with a north-south light-rail line yesterday.

Now only time will tell if the project becomes an embarasssing $1 billion white elephant as the project’s detractors predict, or it transforms the city into a city that embraces smart-growth principles as the project’s boosters, including Ottawa Mayor Bob Chiarelli and senior city staff, predict.

The Ottawa University to Barrhaven electric rail line was approved by a vote of 14 to seven. Construction on the project, which is estimated to cost between $780 million and $1 billion depending on what is added in, is scheduled to start this fall with serious work beginning next spring.

A group of companies, Siemens, which will provide 22 trains and rail technology, and PCL and Dufferin construction companies have been chosen to design, build, provide cars for and maintain the 22-station line for 15 years.

With the vote, council also awarded the three companies a $220 million, 15-year maintainence contract for the line.

The line is expected to be up and running by 2010.

Oil Nears $75 Today

Oil prices closed higher Wednesday, near $75 a barrel, after teetering for much of the session following a government report that said supplies of crude oil were far below estimates.

Oil prices are now flirting with the all-time record trading high of $75.78 hit July 7.

Crude supplies fell by 6 million barrels. Analysts were looking for a 1.2 million barrel decline.

Gasoline supplies fell by 400,000 barrels, while distillates, used to make heating and diesel fuel, rose by 2.6 million barrels. Analysts were looking for a 100,000 barrel drop in gasoline stocks and a 1.6 million barrel build in distillates.

On the international front, Iran said it wouldn't respond immediately to international offers to end its nuclear program, calling the details too ambiguous.

Oil traders had hoped the country, the world fifth-largest oil producer, would agree to the terms this week and ease some of the geopolitical pressure that has helped drive oil prices up nearly 20 % since the start of the year.

Oil has soared in excess of 300 % since 2002, mainly on tight supply and robust demand but exacerbated by rising production costs, speculative trading and international tensions.

Bureaucrat Trips to Ottawa Nixed

Unpack the bags -- the federal Tories have shut down a junket for bureaucrats that would have been a black pit for taxpayers.

At least for now.

The Conservatives temporarily halted a controversial travel program that would have given new civil servants a two-day, all-expenses paid trip to Ottawa to get a "big picture" overview of how government works.

"It was the brainchild of the previous (Liberal) government," said Mike Van Soelen, director of communications for Treasury Board President John Baird. "We're going to review it and make sure we're getting good value for the taxpayers' money,"

The travel program was slated to begin Aug. 1 and would have been mandatory for all employees hired since the start of the year.

All federal civil servants would have attended the $750 per person orientation program organized by the Canada School of Public Service.

Ontario Railways can play Important Role in Province's Ethanol Industry

With the Government of Ontario recently announcing funding and operating grants for new ethanol plants in the province, railways could play a big role in the sustainability of Ontario's emerging ethanol industry.

The ethanol plant funding is all part of the Ontario Ethanol Growth Fund and a mandate to reduce greenhouse gas emissions by blending ethanol in the province's gasoline. What it means for the railway lines is more industrial business.

The Integrated Grain Processors Co-operative was one recipient of funding to open a plant in Aylmer, Ontario next year. Cox said it should produce about 150 million litres of ethanol a year, and will need about 15 million bushels of corn to do it.

But he said the real prospect for railways will be the outgoing co-product and materials. In addition to ethanol, which should mostly remain in Ontario to be blended, a co-product that comes from the manufacturing process is distiller's grain.

Distiller's grain, primarily used as dairy cattle feed, should help to sustain other agricultural sectors as well. Doug Hayston, the director of marketing for Trillium Railway said access to rail infrastructure gives it the potential to be shipped anywhere.

Trillium's St. Thomas and Eastern line will be servicing the Aylmer plant, and interchanges with CN, Canadian Pacific Railway and Norfolk Southern Railway. Hayston said this is one reason why Aylmer was a strong candidate for the site.

The cattle feed market is becoming increasingly saturated with the number of ethanol plants starting up in Canada and the United States. He said they will soon have to find alternative marketplaces to ship to.

Chris Deline, the logistics manager for Commercial Alcohols Inc.'s Chatham plant, said rail access allows them to look for different geographic areas, as well as entirely new markets like turkey and poultry farms, where they can send distiller's grain.

The company has utilized this and is building a new plant, located in Hensall, with access to the Goderich-Exeter Railway. Their largest plant in Chatham, which produces both fuel and commercial grade ethanol, is located on the Canadian Pacific Railway line.

Even with a growing demand for ethanol, Deline said most of the alcohol is not shipped by rail. He said they do have clients who request rail shipping and they do have the capability to do so, but many blending sites do not have the necessary infrastructure to receive railcars.

He reiterated that shipping out distiller's grain provides the most opportunity for railways and he also indicated there could be a demand for bringing in corn with the growing number of plants in Ontario.

Cost of Asphalt Spikes

This summer, the price of asphalt -- the black mix of rocks and petroleum cement used to blacktop roads, driveways and parking lot throughout the country -- has shot upward.

In the last 18 months, the cost of a ton of asphalt cement, commonly referred to as liquid asphalt, has spiked by more than 122 %, from $180 a ton in early 2005 to more than $400 a ton this summer.

And, since asphalt cement accounts for about 5 %of the typical road paving mix, that increase has also pushed the cost of hot mix asphalt to as high as $45 to $85 per ton, an increase of $15 to more than $20 a ton from last year.

The cost increase is tied mainly to one factor:

The increasing cost of crude oil, from which asphalt cement is obtained.

So, as the cost of crude oil has climbed to more than $75 a barrel this week, the cost of asphalt, like all petroleum products, has followed suit.

However, the rising costs have also translated into sharply higher costs for many who lay asphalt pavement on a much larger scale.

The province has observed asphalt cost increases of about 20 %this year, mirroring a similar increase in 2005.

The province will likely not be able to pave as many miles of roadway as it otherwise may wish to do.

In Ottawa, the city engineers said the cost of asphalt is a constant worry as the two cities seek bids for their annual round of summer roadwork, which each city funds through its share of the province's Fuel Tax.

Travel to Quebec

After trying to fake our French while touring Quebec from Ottawa for four days we
cave in to some crafty advertising.



But Prime Minister Stephen Harper says he finds that speaking French helps him organize his thoughts. :)

Would you like to comment ?

Final Debate Begins on Light-Rail Project

Ottawa council began a final debate Tuesday afternoon on a Light Rail Transit expansion that could cost the city between $744-million and $1-billion.

Mayor Bob Chiarelli seemed confident he had the votes to see the plans through. An informal CBC News poll of councillors last week found 14 or 15 of the 21 council members said they were willing to support the line and only two categorically opposed it.

The plan would see a 29.7-kilometre, 23-station LRT line run from the University of Ottawa in the north to Barrhaven in the southwest, snaking through many neighbourhoods.

It would incorporate an existing five-station, eight-kilometre O-Train line from Greenboro to Bayview. That older section would close for two years as part of construction, scheduled to begin in the fall and end in 2009.

The LRT line would use existing CPR rail lines and rights-of-way, plus parts of an old busway and would share the street with cars and pedestrian traffic for a short stretch downtown.

The new line would be electrically powered, rather than using the diesel units currently operating on the O-Train.

Ottawa has agreed to a 15-year deal with Siemens-PCL/Dufferin to design and construct the line, pending council approval.

Critics say line too expensive, unnecessary

But the plan has its critics — including Knoxdale-Merivale Coun. Gord Hunter, who told CBC News Online in June that a silent majority of residents had started to voice some serious concerns.

"What's in it for us, other than seeing our taxes go up? Where's the benefit? It's just not there?" said Hunter. Part of the line would run through his ward.

City staff claimed in June that the bid by Siemens-PCL/Dufferin came within two per cent of the $730-million target council had previously approved.

But opponents say that figure did not include a $24-million, single track link from Beatrice into the Barrhaven Town Centre, or $220-million in maintenance and operating costs over the next 15 years.

Some business groups and public transit advocates tried to delay voting on the project until after a fall municipal election in order to open up debate on the hustings, but their efforts seem to have failed.

Three days have been set aside for debate on the project, which could come to a vote as early as Tuesday night or as late as Thursday.

Ottawa transit officials are also hoping to add an East-West LRT line from Orleans to Kanata and another line from Carling Avenue to Rideau-Montreal in future years.

West Jet to Offer Service to Canada

WestJet, a Canadian low-cost carrier, will reinstitute its service between Tampa and Canada starting Oct. 29.

The airline will fly three times a week to Montreal from Tampa International Airport, three times a week to Ottawa, and will have a daily service to Toronto.

This is in addition to Air Canada service, which provides daily service to Toronto from TIA, airport director, Louis Miller said.

The seasonal service comes at a time when most Canadians come down to Tampa to escape the freezing temperatures up north.

Canada accounted for approximately 35.5 percent of the total number of international visitors who came to Hillsborough County in 2005. Toronto and Montreal are Tampa Bay's top source markets for visitors in Canada.

"This new service is an exciting development for Tampa Bay's tourism and hospitality industry, as Canada is our number one international market for visitors," said Karen Brand, vice president of communications for the Tampa Bay Convention and Visitors Bureau.

Last year, 324,682 Canadians visited the St. Petersburg/Clearwater area, according to the St. Petersburg/Clearwater Convention and Visitors Bureau.

WestJet's seats are available for sale immediately and can be booked online at westject.com or through travel agents.

"WestJet is extremely pleased that our strategic plan of expanding into the United States is working so well," said Sean Durfy, WestJet's executive vice president of marketing, sales and airports, in a statement. "With these new enhancements to our schedule, almost one quarter of the capacity in our network will be going south of the border this winter."

Other WestJet U.S. destinations added to its schedule include West Palm Beach, Phoenix, Palm Springs, and Orlando.

WestJet travels to 33 cities in North America, offering live seatback television on most of its flights.

Petro-Canada boosts Bid For Junior Canada Southern a 2nd Time

Petro-Canada made a third unsolicited bid for Canada Southern Petroleum late Tuesday, offering $13 US per share for the junior energy company with potentially large Arctic gas holdings.

Petro-Canada's bid, worth more than $212 million at current exchange rates, is nearly twice its initial offer of $7.50 per share when it sparked a bidding war with an unsolicited takeover offer for Canada Southern in May.

And the latest bid is significantly higher than the last offer of $11.10 US per share by Syncrude partner Canadian Oil Sands Trust , who also sweetened its bid after stepping in as a white knight bidder for the company.

Petro-Canada is keen to get Canada Southern's key acreage in Canada's Arctic islands - much of which is jointly held between the two companies.

"We believe these Arctic assets will play an important role in the future development of northern Canadian natural gas," Kathy Sendall, senior vice-president of Petro-Canada's North American Natural Gas business said in a release.

While we have no current development plan, any development of the Canadian Arctic would require considerable land consolidation.

The sweetened bid also extends the takeover deadline to July 27.

Oil Prices Settle Above $74

Oil prices rose Tuesday as Iran dashed hopes of a breakthrough in talks with the European Union about its nuclear program.

August Brent at London‘s ICE Futures exchange rose 78 cents to settle at $73.67 per barrel.

Analysts say the main geopolitical concern affecting the market these days is the standoff between Iran and the West over its nuclear program. Some fear that Iran, the second-biggest exporter in the Organization for Petroleum Exporting Countries, may withhold oil if the dispute escalates.

The Energy Department said last week that gasoline demand over the past four weeks was around 9.5 million barrels a day, or 1.4 percent higher than a year earlier.

New Brunswick Gas Stations Turn Off Pumps

Some motorists across New Brunswick had to search for gas Tuesday after almost 100 independent gasoline retailers turned off their pumps for several hours to protest price regulation.

Service station attendants told motorists they had no fuel to sell, or that they couldn't afford to sell it at the regulated price set by the province's Conservative government when regulation came into effect on July 1, 2006.

The government should let the gas stations set their own price, if they want to raise it or lower it.

The province set a maximum price of $1.12 a litre, but has allowed retailers to add a couple of cents to cover transport costs.

However, the retailers say the government has done nothing to ensure there is a profit margin when refinery and wholesale prices rise.

The formula used to set the price allows for a six-cent-a-litre profit margin for wholesalers and five-cents-per-litre for retailers.

Oil Prices Rise as Iran-EU Talks End

Oil prices rose Tuesday as Iran dashed hopes of a breakthrough in talks with the European Union about its nuclear program.

EU foreign policy chief Javier Solana met in Brussels on Tuesday with Ali Larijani, Iran's top nuclear negotiator. Afterward, Larijani said talks will be a "long process" and urged patience — quashing hopes that Tehran will meet a Wednesday deadline on a six-nation offer of rewards and incentives in exchange for suspending suspect nuclear activity.

The standoff between Iran, OPEC ‘s # 2 producer, and Western nations has added to nervousness in the oil markets.

Nymex crude oil futures spiked Friday to an intraday record of $75.78, riding anxieties about North Korea ‘s missile tests earlier in the week.

Gasoline futures rose more than 2 cents to $2.1990 a gallon, while heating oil futures rose more than 3 cents to $1.9980 a gallon. Natural gas futures gained 13 cents to $5.740 per 1,000 cubic feet after falling Friday to their lowest level in nearly two years as U.S. supplies in storage ballooned to roughly 30 percent above the five-year average.

Traders will be looking at gasoline demand in this report, and at gasoline stocks. Utilization and crude oil stocks are less compelling, but will still garner interest.

The Regulation of Gas Prices Needed

The NDP are calling for the regulation of gas prices as consumers get hosed and independent retailers cry foul.

NDP MPP Gilles Bisson is asking the Dalton McGuinty government to tame the wild price fluctuations with a provincial gas price review board.

There's a big consumer problem here in Ontario and that is pump shock.

Setting the price would provide stability for motorists and also protect small independents who are being forced by big oil giants into price wars they can't afford, Bisson said.
The large companies can afford to set prices that force independents to sell below cost or lose customers. In the past decade, the share of Ontario's retail gas market controlled by independents has shrunk from almost 40% to under 25%.

So unless something happens, and within 90 days, I think you'll see literally no independents left in the marketplace to stabilize the price. And when that happens, of course, pricing will go unchecked.

Albert Kopans of Petro Plus Inc. said one of their franchisees has been forced to take a day job to keep his gas station afloat.

He cannot support his business any more. He keeps a part-time employee, this is it,.

Bisson is proposing the government regulate prices, possibly through the Ontario Energy Board, by setting a minimum price that could be adjusted to allow for some competition.

Former Petro-Canada Boss Dead

Wilbert/Bill Hopper, the senior civil servant and business executive who helped build Petro Canada Inc. into one of the country’s biggest integrated oil companies, has died.

Hopper died at the Queensway Carleton Hospital in Ottawa on Monday after an illness. He was 73.

Hopper was the longtime president, chief executive and chairman of Petro-Canada, a the Calgary-based former Crown corporation privatized in the early 1990s.

Born in Ottawa in 1933, he received a Bachelor of Science degree in geology from the American University and a Master of Business Administration from the University of Western Ontario in London.

In 1955, he joined Imperial Oil Ltd. and in 1973 he became assistant deputy minister of energy policy in the federal Department of Energy, Mines and Resources.

In 1975, he helped form Petro-Canada as a federal Crown corporation and was appointed president and CEO in 1976. In 1979, he also added the chairman’s title and worked until 1993 when he retired after Petro-Canada was privatized.

During Hopper’s 15 years at Petro-Canada, the company developed its extensive refining and gasoline station presence by acquiring Belgian-owned Petrofina Canada, as well as the assets of British-owned BP Canada and Gulf Canada.

With Hopper at the helm, Petro-Canada was privatized in 1991 and the first set of shares were sold off to the public in an initial public offering.

From 1983 to 1992, he was also chairman of the board of Westcoast Energy Inc., a Vancouver-based natural gas shipper now owned by Duke Energy Corp.

In 1985, he was made an Officer of the Order of Canada for what the selectors called Hopper’s “encyclopedic knowledge of energy and of the environment in which the industry operates has enabled him to skillfully guide the development of the company into a major component of this country’s petroleum industry.”

Oil Jumped to $75.78 a Barrel

Oil for August delivery jumped as much as 64 cents to $75.78 a barrel in New York and was trading down 39 cents, or 0.5 percent, to $74.75 most recently. Brent crude in London also touched a record $75.09 a barrel, amid concern supplies will be disrupted by disputes over Iran's nuclear research and North Korea's missile tests.

Petro-Canada, the country's third-biggest oil and gas producer, gained 63 cents C$52.92. EnCana Corp., Canada's biggest natural-gas producer, rose 70 cents to C$58.58.