Canada Looks To China, India For Energy Customers

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benchmark and concern increased that the economy will be hurt by the American government shutdown. The currency touched a two-week low against its U.S. peer as a budget impasse in Canadas biggest trade partner persisted and another fight loomed over raising the U.S. governments debt ceiling. The currency erased a weekly loss against the greenback yesterday as risk appetite improved amid optimism that lawmakers in Washington might reach a deal soon. Canadian employment growth slowed in August, a report next week is forecast to show. U.S. economic uncertainty equates to Canadian economic uncertainty — as they sneeze, we get a cold, Jack Spitz , managing director of foreign exchange at National Bank of Canada in Toronto, said in a phone interview. There will be a deal, but the uncertainty, combined with less-than-stellar economic releases in Canada, continues to weigh on the Canadian dollar. The loonie, as the currency is nicknamed for the image of the aquatic bird on the C$1 coin, fell against 13 of its 16 most-traded peers this week in trading in Toronto. The currency appreciated 0.1 percent to C$1.0294 per U.S. dollar this week after touching C$1.0356 on Oct. 2, the weakest level since Sept. 16.

Cutler,Guest blogger / October 4, 2013 Pipelines carrying steam to wellheads and heavy oil back to the processing plant line the roads and boreal forest at a project 74 miles south of Fort McMurray, Alberta, in Canada. Todd Korol/Reuters/File Enlarge Asian countries continue to line up for Canadian energy to which the United States is unable to commit. This week Japan ‘s prime minister Shinzo Abe met with his Canadian counterpart Stephen Harper to discuss the potential for shipping liquefied natural gas (LNG) across the Pacific Ocean to Japan. Although no firm agreement was announced, Japanese newspapers speculated that the first Canadian exports might reach Japan as early as 2018 and no later than 2020. OilPrice.com offers extensive coverage of all energy sectors from crude oil and natural gas to solar energy and environmental issues. To see more opinion pieces and news analysis that cover energy technology, finance and trading, geopolitics, and sector news, please visit Oilprice.com . Recent posts The Christian Science Monitor Weekly Digital Edition This reflects, among other things, the greater difficulty that Canada has had in developing LNG export terminals. Low prices for gas from western Canada is another problem, and although there is reason to believe in a secular rise towards higher prices, U.S. producers are less affected by the current levels. On the other hand, as prices rise, there are fears in Canada of a typical bust-to-boom scenario; and for this, there is fear that Canada’s gas producers are and will continue to be ill-prepared, not even able to take advantage of the anticipated boom. (Related article: Despite Shale, OPEC Still Matters ) RECOMMENDED: US energy in five maps (infographics) Nevertheless, India is also getting in line for Canadian oil as well as gas. India’s High Commissioner Nirmal Verma was also in Ottawa this week to sign a nuclear cooperation agreement allowing uranium from Canada to be sold to India as reactor fuel. India seeks to triple in electricity production in the next decade, in part by building as many as a dozen new reactors. Agreement was actually reached three years ago, but the additional time is required in order to establish a process for independent verification that the fuel is used for peaceful purposes. In 1974, India used a reactor supplied by Canada to create the fuel for a nuclear bomb test. India is even willing to consider investment in the Energy East Pipeline, even as TransCanada has had to delay its filing of an application to the National Energy Board from this year until next year. Environmental concerns that need to be addressed during the regulatory process are partly responsible for the delay, but also it is now foreseen that the original estimate of 850,000 barrels per day (bpd) is low and should be increased to 1.1 million bpd. (Related article: Canada to Drill for Offshore North Atlantic Oil ) Energy talks between the two countries were elevated to the ministerial level last year when our visit India, and India’s energy minister will be visiting Ottawa later this month to continue the discussions. The oil-sands are doing slightly better, as the first crude-by-rail unit train terminal is set to start transporting 50,000 bpd to the U.S.

Lafarge Canada Inc. is Canada’s largest provider of solutions to the construction and development industry. With more than 6000 employees across Canada, our mission is to provide construction solutions that build better cities and communities. The cities where Canadians live, work, and raise their families along with the infrastructure that supports their communities such as roads, bridges, transportation links, water, and waste management benefit from the solutions provided by Lafarge. Through our Sustainability Ambitions for 2020, Lafarge is committed to providing solutions using sustainable manufacturing practices and improving the environment in and around its operations. At locations across Canada, we have worked to reduce carbon dioxide emissions, restore wetlands for native plants and animals, and identify waste materials that can be recycled and used in our operations. More information is available on Lafarge Canada’s website: www.lafarge-na.com @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page . Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided “as is” for informational purposes only, not intended for trading purposes or advice.