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by Stockwatch Business Reporter

West Texas Intermediate crude for January delivery lost five cents to $68.72 on the New York Merc, while Brent for January added two cents to $72.83 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.00 to WTI, down from a discount of $11.70. Natural gas for January plunged 26 cents to $3.20. The TSX energy index added a fraction of a point to close at 278.59.

The oil patch looked on as Alberta Premier Danielle Smith prepared to go to battle over Ottawa's proposed emissions cap. If the cap becomes law, stated Ms. Smith in an attention-grabbing press conference, her government will lean on her signature legislation, the Alberta Sovereignty Within a United Canada Act, to stand guard against what she sees as unconstitutional intrusion into provincial affairs. "We tried the carrot, now it's time for the stick," said the Premier as she unveiled a draft motion. In other words, she vowed, "We are going to take ownership of our resource."

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