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This Is Canada’s Depression: Surging Crime, Soaring Suicides, Overwhelmed Food Banks “And The Worst Is Yet To Come”
This Is Canada’s Depression: Surging Crime, Soaring Suicides, Overwhelmed Food Banks “And The Worst Is Yet To Come” Back in March, we brought you “Drugs, Prostitution, Violence Plague Oil Boom Towns Gone Bust,” in which we detailed the plight of towns like Sidney and Bainville, Montana, where the slump in oil revenue has made it […]
“Canadians Should Be Concerned” As Energy Sector Job Losses Spike To 100,000 This Year
“Canadians Should Be Concerned” As Energy Sector Job Losses Spike To 100,000 This Year It’s grim up north… and getting grimmer. Amid soaring suicide rates, Canada’s once-booming oil patch is rapidly accelerating its downward trajectory. “Canadians should be concerned in times like these,” warned Tim McMillan, president and chief executive of the Canadian Association of Petroleum Producers, noting […]
Why Are People Cheering Alberta’s Climate Plan?
Why Are People Cheering Alberta’s Climate Plan? Notley didn’t slay province’s CO2 dragon. She blinked, aiding pipelines and bitumen. Albert Premier Rachel Notley: on close inspection, her NDP government’s plan is geared to warming public to new pipelines. Photo: Dave Cournoyer via Flickr. Creative Commons licensed. I had to do a bit of a personal […]
Suicides In Alberta Soar In Wake Of Canada’s Oilpatch Depression
Suicides In Alberta Soar In Wake Of Canada’s Oilpatch Depression Over the past year, we have extensively chronicled the tragic story of Alberta – Canada’s once booming oilpatch – disintegrate slowly at first, then very fast, into an economic and financial wasteland: “Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years” “Canada’s Biggest […]
Don’t Tell These Ranchers Climate Change Isn’t Real
Don’t Tell These Ranchers Climate Change Isn’t Real The push to make Alberta’s cattle ranges drought resistant. Mac Blades (middle) fellow ranchers Frances Gardner and Gordon Cartwright recently won a long battle to have their drought-resistant heritage rangelands protected from coal bed methane and other energy developments. Photo by Ed Struzik. Among the many pictures […]
Transcanada Just Killed The Keystone XL Pipeline
Transcanada Just Killed The Keystone XL Pipeline In an ironic twist, just hours after we discussed the record capital outflow from Canada, resulting from the plunge in oil prices and the mothballing of Canada’s energy industry, Obama’s long-desired goal of killing the Keystone XL pipeline has finally come true. Moments ago, the WSJ reported that […]
Shell Scraps Oil-Sands Project, Points at Big Issue For Canada
Shell Scraps Oil-Sands Project, Points at Big Issue For Canada On October 27, the Anglo-Dutch oil major announced that it was pulling the plug on its Carmon Creek oil sands project in Alberta, Canada. The project was expected to yield 80,000 barrels per day in oil sands production, which was originally greenlighted in 2013. However, the markets […]
River Supplying Water To Alberta Oil Sands Operations At Risk From Drought
River Supplying Water To Alberta Oil Sands Operations At Risk From Drought A new study casts doubt on the long-term ability of the Athabasca River to supply the water Alberta’s oil sands industry relies on. Water is allocated to oil sands operations based on river flow data collected since the 1950s, but that doesn’t necessarily […]
Newfoundland’s oil ripple effect: As prices fall, commuting workers stay home
Newfoundland’s oil ripple effect: As prices fall, commuting workers stay home The big paycheques from Alberta are drying up, and with them the economic good times It was a tell-tale sign when East Coast Catering of St. John’s laid off 44 workers in September. The company supplies meals and housekeeping services to Newfoundland’s offshore oil rigs, two […]
Canadian Oil Trapped Without More Pipeline Capacity
Canadian Oil Trapped Without More Pipeline Capacity Adding insult to injury for Canada’s oil industry, Democratic Presidential candidate Hillary Clinton came out against the Keystone XL Pipeline on September 22, ending several years of silence and waffling on the controversial issue. That comes as a blow to TransCanada, the project’s backer, who wanted to connect Canada’s oil […]
Oil sands pipelines now back on the election agenda
Oil sands pipelines now back on the election agenda Mulcair may have the most explaining to do in tonight’s French-language leaders’ debate So now we know. The woman who wants to be the next Democrat to occupy the White House has made a decision that the president she hopes to succeed hasn’t, or won’t. Hillary […]
For Canadian Oil Sands It’s Adapt Or Die
For Canadian Oil Sands It’s Adapt Or Die That low oil prices are squeezing out oil sands producers is not breaking news. But in spite of a grim oil price outlook, production out of Calgary has continued to grow, defying both expectations and logic. The implications are serious, not just for the future of Canada’s […]
Oil Price Increase Will Not Come Fast Enough To Save Alberta
Oil Price Increase Will Not Come Fast Enough To Save Alberta “There’s just no cash.” That’s the Coles Notes from a senior banker describing the book of oil service loans he manages for one of Alberta’s leading lenders. There’s simply not enough cash flow to support current levels of debt. Bankers and borrowers have kicked […]
Alberta’s Oil Companies Warn Government On Taxes
Alberta’s Oil Companies Warn Government On Taxes Big oil is taking no chances with the outcome of Alberta’s royalty review currently underway. In 2007, the industry was surprised when royalties were jacked up despite dozens of corporate presentations to the royalty review panel warning of the fragility of investment economics and the damage increased royalties […]
What’s Coming Unglued Now in Canada?
What’s Coming Unglued Now in Canada? Canada lumbered through the first half of 2015 in a “technical recession,” Statistics Canada confirmed this week, as GDP shrank in both quarters. Among the culprits: the swooning energy sector and an investment slump. Now everybody is lining up behind the hope that a sudden acceleration will put the […]
