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House flipping tax could curb speculative foreign money, CIBC says
House flipping tax could curb speculative foreign money, CIBC says Tax on home flippers may be helpful, but most foreign investors are likely legitimate, Benjamin Tal says Canada lacks concrete data on the level of foreign investment in the country’s housing market, experts say. (Daniel Acker/Bloomberg) Canada may consider a tax on foreign investors flipping […]
Blowout Week 123
Blowout Week 123 A few careless campers who forgot to extinguish their campfire, or maybe a few kids playing with matches, or a cigarette, or an arsonist, a piece of glass, whatever, have in the last few days done more to bring the global oil market back into balance than OPEC and the rest of […]
Fort Mac Blaze: Brace for New Era of Infernos
Fort Mac Blaze: Brace for New Era of Infernos What’s turning northern forests into tinder? Biggest reason is climate change, but that’s not all. A police officer surveys smoldering devastation wrought by wildfire in Fort McMurray on May 5, 2016. Source: RCMP Alberta. A sudden shift in the wind at a critical time of day […]
Ottawa scientists prepare for disruptive solar weather
Ottawa scientists prepare for disruptive solar weather A tsunami of solar particles could wreak havoc on planet earth Solar flares on the surface of the sun. (Natural Resources Canada) If the threats of climate change, a pandemic or nuclear war haven’t given you enough to worry about, how about solar weather? Large-scale eruptions on the […]
Welcome To Hell: The Giant Fort McMurray Fire Is The Worst Blaze In Canadian History
Welcome To Hell: The Giant Fort McMurray Fire Is The Worst Blaze In Canadian History The gigantic wildfire that has forced the evacuation of the entire city of Fort McMurray in northern Alberta has been nicknamed “the Beast“, and mainstream news reports are telling us that it is now approximately 25 percent larger than New […]
If Russia Had ‘Freed’ Canada
If Russia Had ‘Freed’ Canada Special Report: The U.S. government defined events in Ukraine as a “pro-democracy” revolution battling “Russian aggression” — at least as far as the world’s mainstream media was concerned. But what if the script were flipped, asks Joe Lauria. As the United States plans to move thousands of NATO troops to Russia’s […]
“Out Of Control” Canada Wildfire Could Double In Size Today: Fort McKay Evacuated
“Out Of Control” Canada Wildfire Could Double In Size Today: Fort McKay Evacuated Since we first reported on the massive fire (and the fallout) that was burning in Canada’s oil sands gateway, Fort McMurray, things have gone from bad to worse. Today we learn that the fire that has already devastated 600 square miles, growing an additional 50% […]
More evacuation orders issued for Fort McMurray area
More evacuation orders issued for Fort McMurray area Anzac, Gregoire Lake Estates and Fort McMurray First Nation forced to evacuate late Wednesday Many evacuees forced from their Fort McMurray homes by wildfire Tuesday are on the move once again. Three communities south of Fort McMurray, one including an evacuation centre, were ordered to leave as changing weather patterns turned […]
Exclusive: Release of Inspection Reports From TransCanada’s Keystone Pipeline Expose Risk of Future Spills
Exclusive: Release of Inspection Reports From TransCanada’s Keystone Pipeline Expose Risk of Future Spills The US government agency responsible for interstate pipelines recorded a catalog of problems with the construction of TransCanada’s Keystone Pipeline and the Cushing Extension, a DeSmog investigation has found. Inspectors at the US Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) observed TransCanada’s […]
Why Canada’s Oil Industry May Never Be the Same
Why Canada’s Oil Industry May Never Be the Same Never is a long time. The dictionary definition is, “at no time in the past or future; on no occasion; not ever.” In the volatile oil and gas industry, those who try to look that far into the future and predict anything with certainty are invariably […]
Canary in the US Housing Market: Canadian Snowbirds Cash Out
Canary in the US Housing Market: Canadian Snowbirds Cash Out And sales crash. Naples, Florida, a wealthy beach town on the Gulf of Mexico, known for its golf courses and high-end shopping, and a favorite hangout for Canadian snowbirds trying to escape their cold winters, has a problem: Pending home sales in the first quarter […]
CMHC says many major housing markets showing signs of overvaluation
CMHC says many major housing markets showing signs of overvaluation Nine of the 15 largest Canadian housing markets are showing some signs of overvaluation, the CMHC said. Canada’s national housing agency says nine of Canada’s 15 largest housing markets are showing signs of being overvalued. The Canada Mortgage and Housing Corporation said in its quarterly […]
A carbon tax is bad for Alberta
A carbon tax is bad for Alberta Yesterday, Alberta Premier Rachel Notley asserted that Canada was “absolutely” closer to a new pipeline due to her province’s new carbon tax. According to the premier, “Alberta is not the Alberta that they thought of a year ago, or two years ago, or three years ago. After years of […]
“We Haven’t Seen This Is In Our Lifetimes” – CEO Says “Alberta Is In A Depression”
“We Haven’t Seen This Is In Our Lifetimes” – CEO Says “Alberta Is In A Depression” Regular readers know that we’ve covered Alberta’s decline at length (refresher here), so there is no need to give much of a backstory other than to say that the situation seems to get worse for the Canadian province as each […]
NEB approves Enbridge Line 3 pipeline replacement
NEB approves Enbridge Line 3 pipeline replacement Conditions include consultation with First Nations Enbridge is proposing to replace its Line 3 pipeline from Hardisty, Alta., to Superior, Wis. If approved, it will approximately double the amount of oil shipped daily. (Canadian Press) The National Energy Board will allow Enbridge to replace an aging pipeline across the […]
