Feds investing $1.6 billion in Canada’s oil and gas sector

Money intended to ‘protect jobs and restore competitiveness during this difficult time’

Feds investing $1.6 billion in Canada’s oil and gas sectorThe federal government announced 0n Tuesday in Edmonton more than $1.6 billion to support jobs and workers in Canada’s oil and gas sector “as Canada seeks to diversify export markets for its resources beyond the United States.” The announcement was made by federal Natural Resources Minister Amarjeet Sohi and International Trade Diversification Minister Jim Carr.…

Mainstreet Equity records best fiscal year since recession

A return to double-digit growth across all of its key real estate metrics

Mainstreet Equity records best fiscal year since recessionMainstreet Equity Corp. says the apartment rental company managed to not only survive but thrive in 2018, producing its best annual results since the recession began in 2014. For Fiscal 2018, which ended Sept. 30, this included a return to double-digit growth across all of its key real estate metrics. Net operating income grew 12…

Real country folk a welcome change from the urban posers

Teaching Country Dance for Beginners to actual rural folk proved to be an eye-opener

Real country folk a welcome change from the urban posersBack in my not-so-halcyon days of youth and yore, when I practised the challenging social craft of ballroom dance instruction, I accepted a contract to teach 'Country Dance for Beginners' at a community centre in the small hamlet of Thorhild, Alberta. I had taught at various community centres in and around Edmonton to urban posers,…

The Canada option: is it still viable for Alberta?

Separation has become a real possibility thanks to the abuses and injustices imposed by Ottawa

The Canada option: is it still viable for Alberta?In the past couple of weeks, a retired senior oil executive, Gwyn Morgan, a former premier of Saskatchewan, Brad Wall, and a veteran journalist, Don Braid, all commented publicly on the current position of Alberta in Canada. They agreed on the nature of the problem, but stopped short of suggesting the obvious response. It’s not…

U.S. imports of Canadian heavy crude oil continues to grow

U.S. is by far the world’s largest refining market for heavy oil, processing more than half of all that type of crude globally in 2018

U.S. imports of Canadian heavy crude oil continues to growA new report released on Tuesday by IHS Markit says imports of Canadian heavy crude are an increasingly important source of supply to the United States, the world’s largest refining market for such crudes. The report, Looking North: A U.S. Perspective on Canadian Heavy Oil, said U.S. imports of Canadian heavy crudes will approach 2.8…

Athabasca Oil chopping 25% of head office staff

The sector is still a long ways away from permanent solutions, says company president Robert Broen

Athabasca Oil chopping 25% of head office staffAthabasca Oil Corp. announced on Tuesday that it has undertaken a number of actions to enhance its competitiveness and resiliency. It has introduced a streamlined corporate cost structure that consists of a 25 per cent reduction in head office staff effective immediately and 10 per cent rollback in salaries for executives and directors. The company did…

Canadian crude oil production on the rise in September

StatsCan said Alberta produced 17.4 million cubic metres of crude oil and equivalent products in the month

Canadian crude oil production on the rise in SeptemberCanadian production of crude oil and equivalent products totalled 21.1 million cubic metres (132.6 million barrels) in September, up 5.7 per cent compared with the same month in 2017, says Statistics Canada. Non-upgraded production of crude bitumen surpassed 9.0 million cubic metres for the third consecutive month, to reach 9.3 million cubic metres (+15.0 per…

Photographer takes armchair travellers to Argentina

Myrna Pearman of Sylvan Lake, Alta., travelled by plane, boat, bus and horseback during her Argentinian adventure

Photographer takes armchair travellers to Argentina  by T. Martin-Schmunk of The Crossroads Myrna Pearman of Sylvan Lake, Alta., returned to Leader Library to share an Armchair Traveler presentation on Argentina. A nice crowd gathered on the evening of Nov. 26 to learn more about Argentina. Pearman has presented for Leader Library on past occasions and was happy to return to…

Oil production cut to take 2.2% out of Alberta’s GDP in 2019

The move is also bound to have implications for Canada’s economy: Conference Board of Canada

Oil production cut to take 2.2% out of Alberta’s GDP in 2019The Alberta government’s unprecedented move to cut back oil production in the province starting next year is “a desperate measure to alleviate bottlenecks and bolster prices,” says a commentary by the Conference Board of Canada. “Whether there’s a payoff will be hard to determine and will depend on whose opinion you ask on this complex…

Capital expenditures in Canadian oil patch plunge 58% from 2014

ATB report blames the decline on the completion of major projects and the dramatic oil price differential

Capital expenditures in Canadian oil patch plunge 58% from 2014The news from the oil patch continues to raise concerns across Alberta and Canada. The latest is the revelation that capital expenditure in the oil patch, a driving force of the national and provincial economies, is falling again. ATB Financial’s Economics & Research Team on Thursday released data from Statistics Canada indicating that there were “whispers…