Close X
Wednesday, December 4, 2024
ADVT 
National

Alberta Premier Rachel Notley Downplays Oil Price Concerns After Iran Nuclear Deal

The Canadian Press, 14 Jul, 2015 12:10 PM
    QUEBEC — Alberta Premier Rachel Notley downplayed concerns Tuesday that the province's energy sector may suffer if the Iranian nuclear deal leads to a drop in global crude prices.
     
    Following a meeting with Quebec Premier Philippe Couillard, Notley said it's possible the lifting of sanctions for Iran could have "a bit of a suppressing effect on oil prices for a period of time."
     
    "Like many Albertans, we talk about oil prices much like we talk about weather. And in both cases, we're used to change," she said in a teleconference call from Quebec City.
     
    "Alberta's a province that has been built on dynamic commodity prices and we've seen oil go up, we've seen oil go down and throughout it all, we've seen the resilience of our economic infrastructure. I'm convinced that regardless of the outcome, we'll certainly work together with our industry to ensure that we're able to come out of it as prosperously as possible."
     
    The oilpatch has been contending with low crude prices since last fall, and there are concerns that Iran's nuclear deal could drive them down further.
     
     
    The U.S. benchmark, West Texas Intermediate, changed little Tuesday. It hovered around US$53 a barrel, about half of where it was a year ago.
     
    Iran is a member of the Organization of Petroleum Exporting Countries, but its oil production has been affected for years by sanctions over its nuclear program. Any easing of sanctions could see Iran sell more oil to the world market, which could bring down crude prices.
     
    Notley said it's too soon to say how the Iran deal could affect Alberta's efforts to sell more of its oil to lucrative global markets, particularly in Asia.
     
    "A lot of things ... are going to happen internationally that have impacts on the price of oil, both good and bad, but we know generally speaking that market access has to improve," she said.
     
    In their first one-on-one meeting since the Alberta NDP's election victory in May, Couillard and Notley talked about the cross-Canada Energy East Pipeline and climate change policy.

    MORE National ARTICLES

    Environmental Groups Say $16k Fine For Pipeline Spill Not Even A Slap On Wrist

    Environmental Groups Say $16k Fine For Pipeline Spill Not Even A Slap On Wrist
    EDMONTON — An energy company with a history of pipeline problems has been fined and warned by Alberta's regulator for a 2013 spill that sent millions of litres of salty water into the muskeg.

    Environmental Groups Say $16k Fine For Pipeline Spill Not Even A Slap On Wrist

    'Wendiceratops:' Bizarre Three-horned Dinosaur Found In Southern Alberta

    'Wendiceratops:' Bizarre Three-horned Dinosaur Found In Southern Alberta
    EDMONTON — Another new species of dinosaur with a bizarre and elaborate array of horns and shields on its face has emerged from the hills and hoodoos of southern Alberta.

    'Wendiceratops:' Bizarre Three-horned Dinosaur Found In Southern Alberta

    B.C. Dentist Bobby Rishiraj's Mistake Caused Patient To Suffer Brain Damage: Decision

    B.C. Dentist Bobby Rishiraj's Mistake Caused Patient To Suffer Brain Damage: Decision
    A discipline panel of the College of Dental Surgeons of B.C. says Dr. Bobby Rishiraj of Kamloops provided deep sedation without being approved to provide such a procedure to patients.

    B.C. Dentist Bobby Rishiraj's Mistake Caused Patient To Suffer Brain Damage: Decision

    Police Seek Irish Tourists Who May Have Key Details About B.C. Crash That Killed Two Cyclists

    Police Seek Irish Tourists Who May Have Key Details About B.C. Crash That Killed Two Cyclists
    Two cyclists died when an oncoming vehicle veered across the centreline and smashed into them on a rural section of highway, 25 kilometres north of Pemberton.

    Police Seek Irish Tourists Who May Have Key Details About B.C. Crash That Killed Two Cyclists

    Total Value Of Building Permits Issued In May Drops 14.5%: Statistics Canada

    Total Value Of Building Permits Issued In May Drops 14.5%: Statistics Canada
    The value of multi-family home permits fell 22.9 per cent to $1.6 billion in May due to a drop in every province and territory, except British Columbia, New Brunswick and Nunavut

    Total Value Of Building Permits Issued In May Drops 14.5%: Statistics Canada

    B.C. Premier Christy Clark To Get Peek At Wildfire Base North Of Whistler

    B.C. Premier Christy Clark To Get Peek At Wildfire Base North Of Whistler
    Clark will be in Pemberton, which is 67 kilometres east of the 20,000-hectare Elaho fire that was sparked by lightning and first discovered on June 14.

    B.C. Premier Christy Clark To Get Peek At Wildfire Base North Of Whistler