Ontario seeks proposals for feasibility study on cross-Canada energy corridor
The proposed corridor includes new Alberta-to-Ontario pipelines, which would transport Western Canadian oil and gas to refineries in southern Ontario and to tidewater ports such as a new deep-sea port on the coast of James Bay.
The study will also assess the feasibility of port developments on James Bay, Hudson Bay and the Great Lakes, along with a potential refinery along the pipeline route.
The energy corridor follows a recent memorandum of understanding between Ontario, Alberta and Saskatchewan to collaborate on protecting Canadian workers, expanding energy and trade infrastructure, and advancing nuclear development to meet rising demand.
'In the face of unprecedented tariffs from the United States and increasing geopolitical instability, Canadians must work together across governments to build the energy and trade infrastructure we need to unlock new markets domestically and protect jobs,' said Kinga Surma, Ontario's minister of infrastructure.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Yahoo
29 minutes ago
- Yahoo
Chemtrade Logistics Income Fund (CGIFF) Q2 2025 Earnings Call Highlights: Strong Growth and ...
Revenue: Increased by 11% year-over-year in Q2 2025. EBITDA: Increased by 20% year-over-year in Q2 2025. Distributable Cash: Increased by approximately 50% after maintenance CapEx. SWC Segment Revenue: Grew by 12% excluding foreign exchange impact. SWC Segment EBITDA: Declined by 3% excluding foreign exchange impact. EC Segment EBITDA: Increased by 8% year-over-year, excluding foreign exchange and maintenance turnaround impacts. Net Debt-to-EBITDA: 2x as of Q2 2025. Available Liquidity: Approximately $700 million. Unit Repurchases: 2.2 million units repurchased in Q2 2025. Growth CapEx: $11 million incurred during Q2 2025. Updated EBITDA Guidance for 2025: Raised to a range of $475 million to $500 million. North American MECU Sales Volume Guidance: 177,000 versus 168,500 prior. Sodium Chlorate Volumes Guidance: 270,000 tons versus 254,500 tons prior. Warning! GuruFocus has detected 5 Warning Signs with CGIFF. Release Date: August 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Chemtrade Logistics Income Fund (CGIFF) reported strong Q2 2025 financial results with double-digit year-over-year growth in revenue, EBITDA, and distributable cash. The Electrochemicals segment showed significant performance with an 8% increase in EBITDA year-over-year, driven by higher caustic soda pricing. The company announced the acquisition of Polytec, a provider of water treatment solutions, which is expected to enhance Chemtrade's water treatment offerings in North America. Chemtrade maintained a strong balance sheet with a net debt-to-EBITDA ratio of 2x and available liquidity of approximately $700 million. The company raised its adjusted EBITDA guidance for 2025 to a range of $475 million to $500 million, representing a 10% increase from the initial guidance midpoint. Negative Points SWC segment's EBITDA declined by 3% after excluding the impact of foreign exchange, due to lower margins on acids and higher input costs. A $15 million non-cash impairment was recognized in the sodium nitride business due to the lifting of US antidumping protection. The cessation of sodium chlorate production at the Prince George facility resulted in a $28.4 million non-cash impairment. Corporate costs increased slightly year-on-year, driven by higher short-term incentive compensation and legal costs. Chlorine pricing has softened year-to-date, and continued softness is expected over the balance of the year. Q & A Highlights Q: What is the synergy target for the Polytec acquisition, and how does the deal multiple compare to Chemtrade's stock trading multiple? A: Rohit Bhardwaj, CFO, explained that while they did not disclose a specific synergy target, synergies are expected as they expand Polytec's capabilities across Chemtrade's business. The 6.5x multiple is considered reasonable given the higher multiples in the water chemicals space, and the acquisition was strategically funded to avoid diluting unitholders. Q: With a low payout ratio, is there potential for an increase in distribution? A: Rohit Bhardwaj, CFO, noted that Chemtrade has increased distributions by 10% and 5% over the last two years. The low payout ratio suggests sustainability, and while there is room for modest growth, any changes will be discussed with the Board. Q: How long will it take to capture synergies from the Polytec acquisition? A: Scott Rook, CEO, indicated that they expect to grow at or above market rates in the coming years, with synergies realized sooner rather than later. The acquisition is seen as a logical fit, with opportunities for growth and synergies. Q: How does the EBITDA margin profile of Polytec compare with Chemtrade's SWC segment? A: Rohit Bhardwaj, CFO, stated that Polytec's EBITDA margin is in line with the SWC segment and will not materially impact it. Q: What are the building blocks for Chemtrade's 2026 outlook, considering recent acquisitions and market conditions? A: Rohit Bhardwaj, CFO, highlighted several factors, including the full-year impact of Polytec, ultrapure acid sales, and the North Vancouver turnaround. Market variables such as caustic soda pricing and sulfur costs will also play a role, but no major concerns are anticipated. Q: Can you provide background on the Polytec acquisition process and why the business was sold? A: Scott Rook, CEO, explained that Polytec's owner was looking to retire and found Chemtrade to be a logical buyer with a good cultural fit. The acquisition was not a competitive auction but rather a bilateral process based on a strong existing relationship. Q: How does Chemtrade view the potential impact of rising power prices, particularly in the U.S.? A: Scott Rook, CEO, noted that the majority of Chemtrade's power comes from Canadian hydroelectric sources, which are stable. While there may be modest impacts on U.S. sites, they are not material to earnings. Q: What are Chemtrade's thoughts on the proposed Union Pacific and Norfolk Southern merger? A: Scott Rook, CEO, stated that they do not anticipate a material impact from the merger. Chemtrade works closely with all rail companies and expects any changes to improve service. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Were you planning to fly Air Canada? What you need to know about the strike
Air Canada flights are cancelled after thousands of flight attendants began a strike early Saturday morning. The company says the work stoppage means all Air Canada and Air Canada Rouge flights would be cancelled amid the work stoppage. Around 130,000 customers will be affected each day that the strike continues. For summer travellers worried about what this means for their plans, here's what you need to know. Has a strike started? Yes. More than 10,000 flight attendants working for Air Canada have walked off the job. The Air Canada component of the Canadian Union of Public Employees said the two sides were unable to reach a deal before the 12:58 a.m. ET deadline on Saturday. Will all Air Canada flights be cancelled? The work stoppage affects Air Canada's main operations and Air Canada Rouge. Air Canada began a gradual suspension of flights in advance of the strike deadline to allow an orderly shutdown leading up to Saturday. More than 600 flights were cancelled affecting 100,100 customers. Flight attendants working for Jazz and PAL, which operate Air Canada Express flights, are not part of the strike. Flights under those banners will continue to operate as normal. What should I know about my upcoming flight? Air Canada has said it will notify customers via email and text message if their flights have been cancelled. The airline has said passengers whose flights are cancelled will be offered a full refund or the opportunity to change their travel plans without a fee. The company also said it has made arrangements with other Canadian and foreign carriers to provide customers with alternative travel options to the extent possible. That includes passengers whose itineraries change mid-journey. "However, given other carriers are already very full due to the summer travel peak, securing such capacity will take time and, in many cases, will not be immediately possible," it said. Air Canada said it strongly advises affected customers not to go to the airport unless they have a confirmed ticket on an airline other than Air Canada or Air Canada Rouge. For customers due to travel soon whose flights are not yet cancelled, Air Canada said it will allow them to rebook their travel or obtain a credit for future travel. The airline has cautioned that under Canada's Airline Passenger Protection Regulations, customers are not eligible for compensation for delayed or cancelled flights, meals, hotels for situations outside the carrier's control, such as a strike or lockout. How did we get here? The two sides have been in contract talks since the start of the year, but concluded a conciliation process without reaching a deal. On July 28, the union's strike mandate vote kicked off. It wrapped Aug. 5, with CUPE announcing its members voted 99.7 per cent in favour of a strike mandate. At first, both sides seemed optimistic they could avoid a work stoppage despite the strong strike mandate. They returned to the bargaining table on Aug. 8. But on Tuesday, Air Canada said it had reached an "impasse" in negotiations with the union as the two sides were "far apart" on key issues. The union told its members that the company "decided they no longer want to negotiate." CUPE rejected a proposal by Air Canada to enter a binding arbitration process. That would have suspended the union's right to strike, as well as Air Canada's right to lock out union members. While Air Canada argued there was precedent to go that route, CUPE said it preferred to negotiate a contract that its members could then vote on. The union issued a strike notice hours after talks broke down, while Air Canada issued a 72-hour lockout notice. The parties weren't able to reach a deal in the days that followed as both accused one another of not wanting to negotiate. Air Canada has requested government-directed arbitration to end the dispute, however Jobs Minister Patty Hajdu has not said whether Ottawa will oblige. What is this dispute all about? The union has said its main sticking points revolve around what it calls flight attendants' 'poverty wages' and unpaid labour when planes aren't in the air. It told members it has put forward a proposal seeking cost of living enhancements each year, with a catch-up "to where we should be at for 2025." CUPE said entry-level Air Canada flight attendants' wages have increased 10 per cent, or $3 per hour, over the past 25 years, which has been far outpaced by inflation. It also said flight attendants are not paid "for a significant portion of their time on the job," such as when performing safety checks, attending to onboard medical and safety emergencies, and assisting passengers with boarding and deplaning. Air Canada said its latest offer included 38 per cent total compensation increases over four years, including 25 per cent in the first year. It said that proposal also addressed the issue of ground pay, improved pensions and benefits, increased crew rest and other enhancements to work-life balance. The airline said that offer would make its flight attendants the best compensated in Canada. But it said the union submitted a counter-offer "seeking exorbitant increases beyond those presented in earlier submissions." This report by The Canadian Press was first published Aug. 16, 2025. Companies in this story: (TSX:AC) Sammy Hudes, The Canadian Press Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Air Canada cabin staff go on strike, grounding hundreds of flights
Air Canada cabin staff go on strike, grounding hundreds of flights MONTREAL (Reuters) -Air Canada's unionized flight attendants walked off the job early on Saturday morning after contract talks with the country's largest carrier stalled, in a move that could disrupt travel plans for more than 100,000 passengers. The union representing more than 10,000 Air Canada flight attendants confirmed the action in a social media post at around 0100 ET in the first strike by cabin crew since 1985. Attendants are currently paid when the plane is moving and the union was seeking to also be compensated for time on the ground between flights and helping passengers board. Montreal-based Air Canada, which is expected to respond quickly by locking out the workers, has said it anticipated canceling 500 flights by the end of Friday during the busy summer travel season. It expected around 100,000 people to be affected on Friday alone. Flight attendants are likely on Saturday to picket at major Canadian airports, where passengers were already trying to secure new bookings earlier in the week, as the carrier gradually wound down operations. Passenger Freddy Ramos, 24, said on Friday at Canada's largest airport in Toronto that his earlier flight was cancelled due to the labor dispute and he had been rebooked by Air Canada to a different destination. "Probably 10 minutes prior to boarding, our gate got changed and then it was cancelled and then it was delayed and then it was cancelled again," he said. Air Canada and its low-cost affiliate Air Canada Rouge normally carry about 130,000 customers a day. Air Canada is also the foreign carrier with the largest number of flights to the U.S. While the dispute has generated support from passengers on social media for the flight attendants, Canadian businesses reeling from a trade dispute with the United States urged the federal government to impose binding arbitration on both sides, which would end the strike. Air Canada has asked the minority Liberal government of Prime Minister Mark Carney to order both sides into binding arbitration although the Canadian Union of Public Employees, which represents the attendants, said it opposed the move. The Canada Labour Code gives Jobs Minister Patty Hajdu the right to ask the country's Industrial Relations Board to impose binding arbitration in the interests of protecting the economy. Hajdu has repeatedly urged the two sides, which are not bargaining, to return to the table. The union has said Air Canada offered to begin compensating flight attendants for some work that is now unpaid but only at 50% of their hourly rate. The carrier had offered a 38% increase in total compensation for flight attendants over four years, with a 25% raise in the first year, which the union said was insufficient. In a note to clients on Friday, analysts at financial services firm TD Cowen urged the carrier to "extend an olive branch to end the impasse," adding that investors are worried that any cost savings on labor are outweighed by lost earnings in the airline's most important quarter. "We think it would be best for AC to achieve labor peace," the note said. "Not budging on negotiations risks being a Pyrrhic victory." Solve the daily Crossword