Imperial oil sands plans dealt blow

CALGARY — The federal government has revoked a key water permit for Imperial Oil Ltd.’s proposed $8-billion Kearl oil sands mine, delaying work on a major new oil sands development as environmental scrutiny of the massive projects around Fort McMurray intensifies.Imperial, which is majority-owned by Exxon Mobil Corp., has been granted an expedited court hearing, scheduled for early May, on its application to overturn the decision. The company says the lost permit could mean a delay of one or more years, according to an affidavit.

Read the entire story here:

http://www.theglobeandmail.com/servlet/story/LAC.20080331.RIMPERIAL31/TPStory/Business