WorldOil Alberta’s premier takes action after lawmakers’ holiday travels In a statement posted on Twitter, Jason Kenney announced that one cabinet minister, Tracy Allard, along with his chief staff will be stepping down from their posts after revelations the two traveled abroad in recent weeks. Biden prepares to tackle fossil fuels in the U.S. and abroad Joe Biden's cabinet picks, and his interest in working with China to stage elections in Venezuela, will make 2021 a transformative year for fossil fuels. Wall Street favor shifting from U.S. shale to Canadian oil sands Steady output from their mines means that oil sands producers are able to keep revenue coming for decades without too much investment, while the short life span of shale wells forces U.S. explorers to constantly burn cash just to keep up production. Alberta locks down as province’s economy shrinks by 8.1% this year The province’s economy is expected to contract 8.1% this year, the most on record, because of virus restrictions and the downturn in oil prices. Home of the world’s third-largest crude reserves, outbreaks have happened at at least seven oil-sands sites in the north of the province. Enbridge wins approval for Alberta oil sands pipeline to U.S. Midwest Minnesota approved the stormwater pollution plan for Enbridge’s Line 3 pipeline replacement and expansion, the project’s last pending permit, the company said. Construction is expected to take six to nine months on a line that will add 370,000 barrels a day of capacity. Ritchie Bros. sells CA$82+ million of equipment in record-breaking Grande Prairie auction Last week Ritchie Bros. conducted its largest Grande Prairie, AB auction ever, selling 4,900+ equipment items for CA$82+ million (US$63+ million)—surpassing the previous gross transaction value (GTV) record by 32 percent. Indigenous group invests in Keystone XL in bid to defend project from Biden Partnerships with indigenous communities, which often spearhead opposition to oil pipelines, is one of several strategies that TC Energy hopes will make the project more palatable to the incoming administration in the U.S., said Bevin Wirzba, TC’s president of liquids pipelines. Cenovus sells northern Alberta oil assets to Headwater Exploration “This is a unique opportunity for us to partner with a well-capitalized and highly respected management team to accelerate development at Marten Hills,” said Alex Pourbaix, Cenovus President and CEO. Covid-19 may finish Keystone XL for good, with a little help from Biden Joe Biden has pledged to rescind a key permit granted by Trump for the pipeline, designed to take 830,000 barrels of crude a day from Alberta to Nebraska. Keystone XL has been on its death bed before, only to come back. But this time the politics are shifting at a moment when demand for oil is weak and other pipelines are moving toward completion more quickly. Cenovus hedges against a possible Biden win with Husky Energy deal Cenovus Energy Inc. is getting more than just a rival Canadian oil producer with its acquisition of Husky Energy Inc. It’s also shoring up its defenses against an anti-oil sands movement that could get a boost if Joe Biden is elected as the next president of the U.S.