The Lax Kw’alaams Band, a Canadian first nations people living in a remote part of British Columbia, turned down an offer amounting to $267,000 per person to allow a natural gas pipeline and processing facility to be built on their lands.
Malaysian energy giant Petronas and its partners had offered the 3,600-member band a total of $960 million to allow construction of its $30-billion-dollar Pacific NorthWest LNG terminal and Prince Rupert gas pipeline to proceed. (more…)
Two days ago there was some rejoicing and much surprise when the “Warren-faction” of Senate liberals turned against Obama, and failed to vote for a fast-track approval of the TPP. That surprise lasted for about 48 hours when moments ago, in a 65-33 vote, the Senate finally advanced a measure allowing Obama to expedite approval of trade agreements, a bill with bipartisan support in that chamber which however according to Bloomberg may run into strong opposition from House Democrats.
The vote followed separate votes sought by Democrats to pass proposals curbing currency manipulation and boosting imports from sub-Saharan Africa. The Senate plans to consider amendments to the fast-track trade proposal next week. (more…)
Oil drillers will begin collapsing under the weight of lower crude prices during the second quarter and energy explorers who employ them will shortly follow, according to Conway Mackenzie Inc., the largest U.S. restructuring firm.
Companies that drill wells and manage fields on behalf of oil producers will be the first to fall after the benchmark American crude, West Texas Intermediate, lost 57 percent of its value in seven months, said John T. Young, whose firm led the city of Detroit through its 2013 bankruptcy. (more…)
The initiative’s political target is the powerful pro-gun lobby, including the National Rifle Association, that spends millions of dollars each year to back gun-rights supporters.
Bloomberg’s group, called Everytown for Gun Safety, will focus on state and local lawmakers, “corporate boards, and state and federal elections – fields of play formerly occupied almost solely by the gun lobby,” according to a statement. (more…)