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Alberta has lost 35,000 oilpatch jobs, petroleum producers say
Alberta has lost 35,000 oilpatch jobs, petroleum producers say With cuts more likely to come in the fall. Less than a year ago, Alberta was still complaining of a labour shortage. Schools couldn’t find bus drivers, job vacancy rates were the highest in the country. It’s no secret that the situation has changed. The Canadian Association of […]
It Gets Even Uglier In Canada
It Gets Even Uglier In Canada The Province of Alberta, the epicenter of the Canadian oil bust, may be sliding into something much worse than a plain-vanilla recession. And it’s not exactly perking up the rest of Canada. Layoffs are already cascading through the oil patch, as companies are retrenching and adjusting to the new […]
Explosion At Syncrude’s Mildred Lake Site, All Workers Are Safe
Explosion At Syncrude’s Mildred Lake Site, All Workers Are Safe FORT MCMURRAY, Alta. — An explosion at a Syncrude oilsands processing site near Fort McMurray has interrupted operations at the facility. Ryan Bartlett with the Alberta Energy Regulator says the blast happened early Saturday morning at Syncrude’s Mildred Lake site. Bartlett says in an email that the […]
In Northern Canada Peaks, Scientists Are Tracking Impact of Vanishing Ice
In Northern Canada Peaks, Scientists Are Tracking Impact of Vanishing Ice In the summer of 1955, a floatplane flew a small group of American climbers to the edge of a massive icefield straddling the Continental Divide along the Yukon/Northwest Territories border in northern Canada. When the group saw the cluster of jagged peaks and sheer rock […]
Canada’s economy: 5 reasons not to panic
Canada’s economy: 5 reasons not to panic Cheap gas, solid hiring and a strong housing market help Canadians weather the financial storm A recent spate of frightening economic headlines paints a dire picture of the economy, but an examination of some basic gauges of Canadians’ financial health demonstrates it’s not all doom and gloom. TSX, Dow charge higher as […]
Federal election campaign’s phoney debate over deficits: Chris Hall
Federal election campaign’s phoney debate over deficits: Chris Hall Answers on how parties plan to pay for campaign promises may not come for weeks yet This federal election is supposed to be about the economy, an opportunity for voters to determine which party is offering the best plan to create jobs, open new markets for […]
Living Downstream of B.C.’s Gold Rush: Alaska’s Fishermen Fear End of ‘Last Wild Frontier’
Living Downstream of B.C.’s Gold Rush: Alaska’s Fishermen Fear End of ‘Last Wild Frontier’ No fish in the car, warned the rental car attendant at Juneau airport, with the weary tone of someone who had cleaned too many fish guts out of returned vehicles. It was a warning underlined by signs in hotels pleading with […]
New Vehicle Sales Collapse in Canada’s Oil Patch
New Vehicle Sales Collapse in Canada’s Oil Patch Oil spills into the broader economy. Canada’s economy has split in two. The resource producing economy is deteriorating at a breath-taking pace, broadsided by collapsing commodity prices. For Canada, the most important commodity is crude oil. West Texas Intermediate has plunged below $39 a barrel, not seen […]
China’s market woes could be chance to ‘reset’ Canadian economy
China’s market woes could be chance to ‘reset’ Canadian economy Canada should ‘rely less on commodity growth and put the emphasis on other sectors,’ analyst says China’s staggering economic growth has been, in many ways, a boon for Canada. Put simply, China need lots of the things we have to offer like wood, metals, and […]
Document raises questions about Harper retirement policies
Document raises questions about Harper retirement policies Finance Canada review of Canada’s retirement system says Canada scores poorly among OECD countries Canada scores poorly among developed countries in providing public pensions to seniors, according to an internal analysis of retirement income by the federal government. And voluntary tax-free savings accounts or TFSAs, introduced by the […]
TSX and Dow plunge again on fears of China-led slowdown
TSX and Dow plunge again on fears of China-led slowdown Dow in correction territory as investors hit ‘sell’ button North American stock markets closed sharply lower again today, ending what was a dismal week for equities as fears about the global economy and falling oil prices had many investors selling. The main benchmark index of […]
Why Oil As An Election Issue Is Bad News For Canada
Why Oil As An Election Issue Is Bad News For Canada When oil becomes an election issue it is rarely good news. After Joe Clark’s minority PC government was defeated in 1979 over gasoline taxes in a budget, the subsequent Liberal administration introduced the National Energy Program. In 2008, Ed Stelmach’s Alberta PCs campaigned on […]
Big oil that’s making a killing: Don Pittis
Big oil that’s making a killing: Don Pittis Don’t weep for the “downstream” part of the oil business, it’s booming In business lore there is no better advice than “buy low, sell high.” As markets keep hitting new lows, that’s pretty hard for the average investor these days, but in parts of the oil business, it’s exactly […]
The Delusions of David Frum’s Mind
The Delusions of David Frum’s Mind Stephen Harper make you worried and angry? Chill, says Canada’s prodigal Republican son. David Frum is not here anymore. That’s apparent from the defence of Stephen Harper he published in The Atlantic yesterday. It’s full of spin and falsehoods evident to those who actually live in Canada and are paying attention. […]
