I know this might not be a big deal to some people, but after hearing this I might be unemployed very soon.
Imperial Oil loses bid to get Kearl water permit reinstated
Last Updated: Wednesday, May 14, 2008 | 4:14 PM ET Comments9Recommend9CBC News
Imperial Oil Ltd.'s attempts to get a water licence reinstated for its $8-billion Kearl oilsands project hit a snag Wednesday when a federal judge dismissed the company's request.
In a decision filed in Ottawa, Federal Court Judge Douglas Campbell upheld an earlier decision to pull the water licence for the proposed development.
The permit was revoked earlier this year after another court ruled the environmental assessment on the project was incomplete.
The environmental group Ecojustice had challenged the assessment.
"The environmental affects of the oilsands in particular have been mismanaged and until the federal government and the Alberta government can show that their laws are good enough to control those impacts, then those concerns are going to continue," said Sean Nixon, a lawyer with Ecojustice.
At a hearing last week in Calgary, Imperial argued that the federal government doesn't have the right to revoke a permit once it's been issued.
Imperial has 30 days to appeal the latest decision.
On the TSX, shares of Imperial slipped 56 cents, closing at $57.38