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Stock impact report

Canada pledges money, regulatory reform to boost biofuels [Yahoo! Finance Canada]

Imperial Oil Limited (IMO) 
NASDAQ:AMEX Investor Relations: imperialoil.ca/en-ca/company/investors
less onerous regulations to boost biofuels production, which the country's agriculture minister said faces tough U.S. competition. Prime Minister Mark Carney made support for biofuels and the canola industry one of six areas highlighted in an aid announcement designed to help companies deal with damage from U.S. tariffs and trade disruptions. "We have the U.S. flooding the market with cheaper products, and we've got to do more for our guys here to ensure that they can continue to operate until we get clean fuels regulations amended," Agriculture Minister Heath MacDonald told Reuters. Canadian canola, an ingredient in some biofuels, is also facing high duties and tariffs in China, the largest export market for canola seed. The government pledged C$370 million ($267.79 million) in production incentives for Canadian biofuels producers and also said it would overhaul Canada's biofuels regulations. Canadian biofuels producers and the canola industry have complained for years that Show less Read more
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