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Canada’s Trans Mountain Pipeline Starts Operations After 12 Years and $25 Billion

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Canada's Trans Mountain Pipeline
Trans Mountain pipeline: Getty Images

After 12 years and C$34 billion ($25 billion), Canada’s Trans Mountain pipeline expansion project (TMX) began commercial operations on Wednesday, a major milestone expected to transform access to global markets for the country’s producers.

Pipeline constraints have forced Canadian oil producers to sell oil at a discount for many years, but TMX will nearly triple the flow of crude from landlocked Alberta to Canada’s Pacific coast to 890,000 barrels per day (bpd).

For Canada, the world’s fourth-biggest oil producer, the additional pipeline capacity is set to boost crude prices, lift national gross domestic product and expand access to Asian oil markets.

Both TMX and the existing pipeline are now able to transport crude oil and the company has the ability to load cargoes from all three berths, Trans Mountain said in a press release, adding that 70% of the expanded pipeline is full by volume.

“Everyone has been waiting for this for literally years,” said Rory Johnston, founder of the Commodity Context newsletter. “It’s a fantastic thing for Canada and the Alberta oil patch.”

The expanded pipeline was first proposed by Kinder Morgan in 2012. The Canadian government bought it in 2018 to ensure the project got built despite opposition, but construction has been marred by regulatory delays and costs soaring to more than four times the project’s original budget.

“It is increasingly difficult to build pipelines in this country and it wouldn’t surprise me if this was the last pipeline,” Jon McKenzie, CEO of oil, said on an earnings call. The Canada Energy Regulator (CER) granted the final permits for the expansion project on Tuesday, clearing the way for the pipeline to start operating.

Trans Mountain Pipeline will boost Canada’s oil export capacity

Trans Mountain Corp said May 1 marks the commercial commencement date for the project, and tankers will be able to load at Westridge Marine Terminal in the Port of Vancouver by mid-May.

TMX will substantially boost Canada’s oil export capacity and could help shrink the discount on benchmark Canadian heavy crude, currently around $13.50 a barrel below U.S. crude, to less than $10 a barrel, analysts at RBC Capital Markets said in a note to clients.

Asian buyers are already showing interest.Reliance Industries bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner’s first oil purchase from TMX, Reuters reported.

For Ottawa, the project’s completion comes as a relief. Prime Minister Justin Trudeau’s Liberal government was slammed by environmental campaigners for buying the pipeline in the first place, and has drawn sharp criticism during construction for spiralling costs.

Green groups worry about the pipeline’s potential to leak in pristine areas and its expansion of carbon-intensive oil sands crude. Climate activists warn increasing oil and gas production risks hamstringing Canada’s efforts to cut carbon emissions.

“Trudeau made the decision to purchase this gift for the fossil fuel industry, but it’s these communities and ecosystems that will pay the price when the Trans Mountain pipeline inevitably spills,” said Peter McCartney, climate campaigner at the Wilderness Committee environmental group.

Canadian oil production

The federal government wants to sell at least part of Trans Mountain to Indigenous groups, but is expected to have to take a major haircut on its investment.

“The Trans Mountain Expansion Project will ensure Canada receives fair market value for our resources while maintaining the highest environmental standards,” said Katherine Cuplinskas, press secretary to Deputy Prime Minister Chrystia Freeland.

“The federal government will launch a divestment process in due course.”

Canadian oil production is forecast to hit a record high of around 5.3 million bpd this year, according to TD Securities, as producers ramp up output in anticipation of TMX’s new capacity.

Two traders in Calgary said oil inventories in Alberta are brimming at record levels of 42 million barrels, but expected to draw down reasonably quickly once the expanded pipeline starts flowing.

“The completion of TMX is monumental for Alberta, since this will significantly increase our province’s output,” Alberta premier Danielle Smith said in a statement on Tuesday.

Conservative premier Smith is a frequent critic of Trudeau’s Liberals but thanked the federal government for seeing the project through, and said stronger Canadian crude prices would result in many millions of dollars extra in government revenues.

Source: Reuters

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Geoff Thomas
Geoffrey Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.

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Telehealth May Be Able to Stop Suicide in High-Risk Individuals.

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Telehealth
HealthDay

(VOR News) – The results of a recent study suggest that telehealth therapy may lower the risk of suicide. In the United States, a study was conducted.

The results of a study that was published in the journal JAMA Network Open on November 12 indicate that cognitive behavior therapy can help lower the number of suicide attempts and thoughts.

US Telehealth researchers conducted the study.

This predicament is still true even when therapy is delivered via telehealth for a little period of time. As a result of the information they discovered during the investigation, the researchers finally reached this conclusion.

According to a study conducted by clinical psychologist Justin Baker, a researcher at Ohio State University, this is information that should be promoted.

According to Baker, this is a result of the fact that, at this specific point in history, therapy is increasingly being delivered via the use of virtual methods.

Baker was said to have stated, “The nearly overnight shift from mostly in-person to mostly virtual therapy appointments following the onset of the COVID-19 pandemic was the impetus for this research question.” Ohio State published a press release that contained this message.

In making this claim, Baker was alluding to the fact that the shift occurred very immediately after the outbreak began. Baker was referring to the changes brought about by the pandemic outbreak spreading significantly.

It has long been thought that patients who are deemed to be at high risk are not suitable candidates for virtual healthcare. This is because the use of virtual healthcare is linked to both accountability and the possibility of harm.

We randomly assigned the following telehealth programs to 96 Americans:

They received instruction on how to control and alter the disturbing ideas and bad notions they were experiencing through telehealth cognitive behavioral therapy, with a special emphasis on suicide. They received this instruction while participating in the activity.

A treatment method called present-centered therapy is used to help patients deal with the difficulties they are currently confronting in their life.

The results of the study conducted by the researchers demonstrated that a present-focused approach to treatment is a successful way to reduce depressive symptoms and suicidal thoughts. Research has shown that therapeutic approaches that focus on the present moment are useful.

However, the results of this study show that when it came to reducing the proportion of patients who attempted suicide while getting telehealth services, cognitive behavioral therapy outperformed present-centered therapy.

Furthermore, the results showed that both treatments were effective in lowering the number of suicidal thoughts that patients thought about taking their own lives. The effectiveness of both therapies served as evidence for this.

Craig Bryan, a researcher and the chairman of telehealth Ohio State University’s Suicide Prevention Program, says, “We have good, tested treatments that will lead to significant symptom reduction and improved quality of life for those who are suffering from suicidal thoughts and behaviors.”

In addition, Bryan is currently the program’s leader. Additionally, Bryan is currently in charge of the program. “We have treatments that have been proven to be effective.”

Bryan said that a considerable percentage of therapists are still maintaining some aspect of their telemedicine practice following the epidemic, even though limitations are being loosened.

This leads to the scenario even when boundaries are being loosened. “The results of this study have the potential to expand access to essential treatments that are supported by evidence for people living in rural and difficult-to-reach areas.”

You should call the telehealth Suicide and Crisis Lifeline at 988 if you or a loved one is experiencing an emotional or suicide crisis if you are experiencing emotional distress. They are available to listen to your issues as well as offer support.

SOURCE: USN

SEE ALSO:

Trudeau Government Forces Port Workers Back to Work

The Main US Inflation Tracker Increased For The First Time Since March.

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Salman Ahmad
Salman Ahmad is a seasoned freelance writer who contributes insightful articles to VORNews. With years of experience in journalism, he possesses a knack for crafting compelling narratives that resonate with readers. Salman's writing style strikes a balance between depth and accessibility, allowing him to tackle complex topics while maintaining clarity. His commitment to thorough research ensures his pieces are well-informed and thought-provoking. Salman's contributions enrich VORNews' content, offering readers a fresh perspective on current events and pressing issues.
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The Main US Inflation Tracker Increased For The First Time Since March.

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Inflation

(VOR News) – The challenging road to lower levels is demonstrated by the fact that one of the most important measures of inflation in the United States has increased for the first time since March.

The consumer price index (CPI), a metric that gauges price inflation across a variety of goods, at an annual rate of 2.6% as October reached its peak. The CPI has never been higher than it was at this time.

According to reports, the rate was 2.4% last month, the lowest in over three years. This rate is higher than the one that was noted the month before.

Eliminating food and energy, “core” inflation stayed at 3.3%.

This occurred upon completion of the computation. Following this stage, the index underwent a thorough analysis. A reading was considered accurate if it agreed with the estimates provided by economists.

Even though inflation has somewhat decreased since reaching its greatest level in four decades in the summer of 2022, many Americans still face financial hardship as a result of years of rising prices. This can be attributed to the fact that inflation peaked in the summer of 2022.

According to exit poll results, a significant number of Republican voters expressed dissatisfaction with their own financial circumstances as well as the state of the US economy.

Their voiced displeasure was a reflection of their dissatisfaction. A significant factor that contributed to the election was the ire generated by the rising cost of living. This rage was among the most important factors.

Concerns have been expressed regarding the real effects that these reforms would have on the inflation rate. Donald Trump proposed tax cuts and tariffs as workable answers throughout his campaign, but there have been questions raised over the real effects of these measures.

The next president has promised to levy tariffs on all U.S. imports that are at least 10 percent higher than the current rate, according to the results of a research by Yale’s Budget Lab.

The implementation of this strategy, which many industry experts believe would almost surely result in an increase in inflation of up to 5.1%, has already been made public.

It was the first time in four years that the Federal Reserve started lowering interest rates in September, which marked the first time in four years they had done so.

This was the first time they had ever implemented inflation.

The Federal Reserve has reached a significant turning point in its attempts to control inflation at this particular moment. Additional interest rate cuts were implemented Monday, lowering them to their lowest point since February 2023. Since February 2023, they have not been this low.

The Federal Reserve’s chairman, Jerome Powell, said the Fed “has gained confidence that we’re on a sustainable path down to 2%,” the target it has set for its inflation rate.

He hosted a news conference where he made this declaration. Considering the previously mentioned, he added that “the task is incomplete.”

As part of its “dual mandate,” the Fed is working to keep inflation from rising while also keeping the unemployment rate from rising. This is being done from the Federal Reserve’s point of view.

Over the past few months, the labor market has been significantly slowing down; in October, the United States created just 12,000 new jobs.

This suggests that there is a downturn in the labor market. In October 2023, the unemployment rate was 4.1%, which was a low figure that was similar to levels before the sickness started. Since the illness had not yet spread, this was the situation. This occurred following a reduction in the rate, which came to 3.4% in February 2023.

In response to a query concerning the impact of the election on the Federal Reserve’s interest rate decisions, Powell said that officials “do not know the timing or substance of any policy changes.”

Powell was questioned on the significance of the election. As a consequence, we are unable to determine the possible economic impact of this. The current circumstances are to blame for this.

SOURCE: TG

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author avatar
Salman Ahmad
Salman Ahmad is a seasoned freelance writer who contributes insightful articles to VORNews. With years of experience in journalism, he possesses a knack for crafting compelling narratives that resonate with readers. Salman's writing style strikes a balance between depth and accessibility, allowing him to tackle complex topics while maintaining clarity. His commitment to thorough research ensures his pieces are well-informed and thought-provoking. Salman's contributions enrich VORNews' content, offering readers a fresh perspective on current events and pressing issues.
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Trudeau Government Forces Port Workers Back to Work

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Trudeau, strike, port workers
The Canadian Labor Minister Steven MacKinnon forced striking union workers back to work.

The Trudeau government has invoked federal authority to halt union strike actions at the ports of Vancouver, Prince Rupert, and Montreal, claiming economic damage and the loss of trading partners.

This is the second time in a few months that the Trudeau government has intervened to end a labor conflict. In August, Trudeau ordered work stoppages at the country’s two main railway corporations to cease.

Canadian Labor Minister Steven MacKinnon stated that the supply chain has been damaged and that it will take weeks to clear the container congestion affecting Canadian and US companies. He informed reporters that he had ordered the country’s industrial relations board to end the strike and impose binding arbitration.

“As the economic losses threaten the country and begin to mount, it is up to the government to ensure that … we can get on with the economic life of this country and avoid layoffs and other carnage,” he stated during a news conference.

“Canadians have a limited tolerance right now for economic self-harm.”

The issue, which MacKinnon claimed was hurting more than C$1.3 billion ($932 million) in goods every day, has already hampered shipments of canola oil, forest products, and other goods. Business organizations applauded the announcement.

Union Strike Action Heads to Court

International Longshore and Warehouse Union Local 514, representing supervisory longshore workers at the core of the British Columbia conflict, has announced that it will submit a legal challenge to the minister’s instructions.

“We will fight this order in the courts,” stated Frank Morena, president of ILWU Local 514.

“And we will not forget how these employers and this federal Liberal government have attacked not only the ILWU but all of labor.”

MacKinnon said the Canada Industrial Relations Board, which is independent but reports to Ottawa, will issue the required orders in a few days.

The left-leaning government has previously declared that it prefers to resolve labor problems through collective bargaining. MacKinnon said he was forced to interfere when federal mediators reported that discussions in Montreal and Vancouver had reached a stalemate.

The left-of-center opposition New Democrats, a pro-union group supporting the minority Liberal administration, accused Ottawa of giving in to employers.

“Back-to-work orders suppress wages for all Canadians, so billionaires get richer, and the rest of us fall further behind,” leader Jagmeet Singh said in a statement but did not mention bringing the Liberals down.

Trudeau Government Sends Dangerous Message

The Teamsters union, representing employees at the two major train companies, has launched court challenges to labor board judgments that ordered them back to work.

“The government is sending a dangerous message: employers can bypass meaningful negotiations, lock out their workers, and wait for political intervention to secure a more favorable deal,” the Canadian Labour Congress said.

After rejecting a final offer for a new labor deal, the Montreal Longshoremen’s Union called a lockout. As a result, canola oil and forest products exports from West Coast ports, including Vancouver, have ceased.

“These work stoppages are impacting our supply chain, hundreds of thousands of Canadian jobs, our economy, and our reputation as a reliable international trading partner,” said MacKinnon, who said employers and unions had not acted quickly enough.

“I’ve directed the Canada Industrial Relations Board to order that all operations and duties at the ports resume and to assist the parties in settling their collective agreements by imposing final and binding arbitration,” he told reporters.

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author avatar
Geoff Thomas
Geoffrey Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.
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