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Canada’s Forgotten Man: Energy Workers
Canada’s Forgotten Man: Energy Workers All over the world, the forgotten man is rising up, reminding the ruling elite of his existence. Fed up with leaders catering to the whims of 0.05% of society, or instituting policies that impact their pocketbooks, the working folks of America, Italy, Brazil, and France are making sure their voices […]
September the Coldest Month in a Decade – Must be Global Warming
September the Coldest Month in a Decade – Must be Global Warming It is not looking very good for the winter ahead. A reader from Calgary sent this picture in about the early snowfall up there. Indeed, Calgary just experienced the Snowiest Day in More Than Three Decades. It Broke an October Snowfall Record. Of course, […]
Canadian housing market hits $508,097 average price in April as sales rise to record
Canadian housing market hits $508,097 average price in April as sales rise to record Average Canadian house price up 13% in April, but wide regional variances remain Canada’s housing market hit new all-time records both for the average price and the number of homes sold in April. (Associated Press) Canada’s housing market continues to set […]
The “Unequivocally” Divided States Of Canadian Consumers
The “Unequivocally” Divided States Of Canadian Consumers Canada has never been more divided. With Vancouver being taken over by the rich Chinese, and Calgary nearing depression, roles have been dramatically reversed across Canadian provinces as spending in non-energy-producing regions hits a record high relative spending in those dependent on oil… Home prices show the divide between Canada’s […]
House affordability improving in some parts of Canada, National Bank says
House affordability improving in some parts of Canada, National Bank says Mortgage rates probably won’t be dramatically changed by the Bank of Canada’s benchmark overnight rate, economists say. (Sean Kilpatrick/Canadian Press) Amid the continuing escalation in housing prices in the Vancouver and Toronto areas, there are some places in Canada where home affordability is improving, […]
Husky layoffs confirmed as Calgary company continues cost-cutting
Husky layoffs confirmed as Calgary company continues cost-cutting Latest round of cuts hits Alberta’s energy industry as oil prices remain low More job cuts were announced for Husky Energy on Tuesday as the company looks to weather the current downturn. (CBC) Calgary-based Husky Energy says layoffs were announced today to ensure the company’s resilience during low oil […]
In Supreme Court, a Battle Over Fracking and Citizens’ Rights
In Supreme Court, a Battle Over Fracking and Citizens’ Rights Jessica Ernst’s long fight to challenge legislation putting energy regulator above the law reaches top court. Jessica Ernst on her land in Alberta. Photo: Colin Smith. After years of legal wrangling, Jessica Ernst and Alberta’s powerful energy regulator finally squared off in the Supreme Court […]
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 […]
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 […]
Inside Ground Zero Of Canada’s Recession
Inside Ground Zero Of Canada’s Recession In the past year, we have extensively profiled the collapse of ground zero of Canada’s oil industry as a result of the plunge in the price of oil, in posts such as the following: “Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years“ “Canada’s Biggest Oil Casualty […]
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 […]
Calgary Office Market Gets Crushed. Oil, China Blamed
Calgary Office Market Gets Crushed. Oil, China Blamed The office vacancy rate in downtown Calgary, the epicenter of the Canadian oil bust, could hit the vertigo-inducing level of 17.5% by the end of 2018, a new report by commercial real-estate firm Colliers International warned – and added some ominous clouds: “Given the current global macro […]
Calgary thunderstorm causes power outages, flooding in Chestermere
Calgary thunderstorm causes power outages, flooding in Chestermere Lightning advisory that grounded all flights at Calgary airport now lifted People in Calgary woke up with a bang early Sunday morning as a line of thunderstorms hovered over the city, bringing lightning, power outages and overland flooding in communities to the east. As the storms moved eastward, […]
