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In Spite Of Oil Price Slump, Canadian Oil Output To Increase
In Spite Of Oil Price Slump, Canadian Oil Output To Increase It was yet another depressing headline congruent with the rest of the bad news bombarding the battered Canadian oilpatch for 15 months. On February 22 Postmedia (National Post, Calgary Herald, Edmonton Journal) carried the headline, “Canadian oil production growth could come to ‘complete standstill,’ IEA […]
IEA recommends more government funding for energy sector
IEA recommends more government funding for energy sector New report suggests public support for research is dwindling in Canada Canada should increase funding to the energy sector, according to a new IEA report. (Kyle Bakx/CBC) Canada’s energy industry needs more research and development funding from government, according to a new report by the International Energy […]
The problem with a carbon tax in Canada
The problem with a carbon tax in Canada Last week, Environment Minister Catherine McKenna indicated the federal government has not yet determined the national minimum carbon price which is part of its climate strategy. McKenna rejects any assertions the current economic environment is not the time to impose carbon pricing. Frédéric Bastiat (1850) forewarned of […]
Site C Is a Climate-Change Disaster, Says Suzuki
Site C Is a Climate-Change Disaster, Says Suzuki ‘We have to rethink everything’ says noted environmentalist. A Tyee Q&A. David Suzuki and Grand Chief Stewart Phillip at a media scrum outside the B.C. Superior Court Monday morning. Photo by Mychaylo Prystupa. Flooding valuable farmland to build the Site C dam undermines Canada’s commitment to meet […]
Encana to cut workforce another 20% on top of earlier downsizing
Encana to cut workforce another 20% on top of earlier downsizing Calgary-based oil and gas producer reports 4th-quarter losses of $612M Doug Suttles, CEO of Encana Corp., speaks to reporters in Calgary in 2013. The Calgary-based company announced on Wednesday it’s planning a further 20 per cent reduction in its workforce to achieve up to […]
Canada’s new deficit plan is trouble
Canada’s new deficit plan is trouble Yesterday Federal Finance Minister Bill Morneau announced the projected deficit for 2016-17 is now $18.4 billion. This amount does not include $10.5 billion in new spending promised by the Liberals during the election campaign. When the budget is delivered in one month’s time it is foreseeable the total deficit […]
It was not a Merry Christmas for Canadian retailers
It was not a Merry Christmas for Canadian retailers December’s retail sales slump was the worst in seven years, however, the weak demand from consumers didn’t stop retailers from raising prices again (up +2% the past year). I think retailers are adjusting prices to reflect higher import costs, courtesy of a much depreciated Canadian dollar. […]
Fruit and vegetable prices hike overall food costs
Fruit and vegetable prices hike overall food costs Food prices increased by four per cent over the year, largely because of the low loonie According to the Consumer Price Index, food prices increased by four per cent from Jan. 2015 to Jan. 2016. But fresh vegetables alone were up 18 per cent. For example, just […]
Forget Deflation. Stagflation Arrives in Canada
Forget Deflation. Stagflation Arrives in Canada Worst Plunge in Retail Sales since 2008. Inflation Whacks Consumers Retail sales in Canada fell 2.2% in December from November on a seasonally adjusted basis, but not adjusted for inflation, to C$43.2 billion. “Declines were widespread as lower sales were reported in 10 of 11 subsectors, representing 97% of […]
OECD cuts growth outlook for Canada’s economy this year and next
OECD cuts growth outlook for Canada’s economy this year and next Canada, other economies ‘reliant on commodity exports’ bear brunt of global slowdown A worker builds a jet engine at a factory in Quebec. According to the OECD, Canada’s economy is going to perform worse than previously anticipated this year and next. (Radio-Canada) One of […]
Auto loan delinquency spikes in Alberta, Saskatchewan
Auto loan delinquency spikes in Alberta, Saskatchewan Credit agency TransUnion points to non-mortgage debt defaults in oil-producing provinces Pickup truck sales have grown rapidly in the past five years, but with job losses in Alberta and Saskatchewan, the debt from auto loans is hanging over some consumers. There has been enormous sales growth of pickup trucks […]
50% Of Canadians Say They Are Within $200/Month Of Being Unable To Pay Their Bills
50% Of Canadians Say They Are Within $200/Month Of Being Unable To Pay Their Bills It was just last month when we profiled Canada’s “other problem”: record high household debt. Canada is struggling to cope with falling crude prices which have put enormous amounts of pressure on some parts of the country, most notably Alberta, where suicide […]
