The U.K. government has adjusted North Sea taxes to encourage new oil development; Sky-high energy prices are not expected to drop any time soon; Australia is on the verge of housing one of the largest LNG exports.

NEW YORK, Jan. 10 (UPI) -- New York-based CIBC said U.S. consumers should prepare for gas prices hitting $4.50 a gallon.

TORONTO, Oct. 15 (UPI) -- Canada's economy will surge past the U.S. economy and the Canadian dollar will reach $1.05 against the greenback, a bank economic forecast predicted Monday.

TORONTO, Sept. 11 (UPI) -- Rising oil consumption among producing nations will cut exports by 2.5 million barrels per day by the end of this decade, a new Canadian study says.

MONTREAL, June 1 (UPI) -- The Canadian dollar topped 94 cents in U.S. currency Friday prompting another prediction the "loonie" was headed for parity with the greenback.

TORONTO, Dec. 8 (UPI) -- Canada holds almost 60 percent of the investable oil reserves in the world today, CIBC said Friday.

Largest polygamist community changing ... Denver suburb limits sex shops ... NASA gets thumbs-up from Duct Tape Guys ... Canadian banker given sensitivity training ... Watercooler stories from UPI.

TORONTO, Aug. 4 (UPI) -- The chief economist for the Canadian Imperial Bank of Commerce World Markets has been given sensitivity training for remarks that offended some Muslims.

NEW YORK, Oct. 8 (UPI) -- The long anticipated rise in interest rates may be coming to an early and abrupt end as the specter of a sustained $50 per barrel oil price could lead to a slow