Alberta Economic Fundamentals

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Higher Commodity Prices Spark Forecasts Of Increased Oilfield Services Activity This Year

Daily oil bulletin is confirming that gas drilling activity will increase substantially this coming season 2008-2009 year over last year:
http://www.dailyoilbulletin.com/
To see the details, you need a subscription, but should be tomorrow in the other press.
According to the Daily Oil Bulletin, in 2008 companies will spend 15.3 Billion on 17000 wells and in 2009 17.1 billion to drill 19000 wells.

 

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Hotel ordered to restore tenants` heat, hot water

A public health inspector intervened Friday to get the heat and hot water turned back on for tenants at the Arlington Hotel.

Tenants said they have lived in the cold for three days this week.

Bob Pearce, spokesman with David Thompson Health Region, said the gas company co-operated fully with the inspector to get the gas utility turned back on to the building.

http://www.albertalocalnews.com/reddeeradv..._hot_water.html

 

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Summer village seeks annexation to control growth

Norglenwold homeowners hope a significant annexation will keep their lakefront properties from being swamped in high-density development.

The summer village occupies just under 140 acres of land in a strip along the southwestern shore of Sylvan Lake, immediately adjacent to the town.

Summer village council has filed a notice of intent with neighbouring communities, stating that they wish to annex 428 acres from Red Deer County.

http://www.albertalocalnews.com/reddeeradv...rol_growth.html

 

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Wind-power projects proliferate as market restrictions ease

EDMONTON - The number of proposed Alberta wind projects has dramatically increased since the province removed restrictions on the sale of wind power last fall.

The Alberta Electric System Operator now has applications from companies hoping to generate 10,500 megawatts of wind power, said Neil Millar, vice-president of transmission.

http://www.canada.com/edmontonjournal/news...43-20d761d9a51e

 

[joeiannuzzi]

Breaking ground

Single-Family Dwellings:

From April 9 to April 15, the City of Edmonton planning and development department issued 21 permits for single-family homes.

Areas include Parkview, Haddow, Charlesworth, Terwillegar South, Hollick-Kenyon, Sakaw, Griesbach, Alberta Avenue, Gorman Industrial East, Summerside, West Jasper Place, Klarvatten, High Park, Hazeldean, Donsdale, Pleasantview, The Hamptons and Westwood.

http://www.canada.com/edmontonjournal/news...6e-816f0712bbed

 

[joeiannuzzi]

Oil could reach $300, says expert

Oil prices could top $300 per barrel within the next five years, according to one industry expert.

Matthew Simmons, chairman and founder of specialised energy investment banking firm, Simmons & Company International, said the current highs of $100 per barrel are "cheap".

http://www.arabianbusiness.com/512436-oil-...0-claims-expert

 

[joeiannuzzi]

Matt Simmons (Bloomberg): Peak Oil Now, Oil Perhaps to $300

Here is a video I found on Youtube which further reinforces where oil prices are going.

http://www.youtube.com/watch?v=4IwtAQzrfiw

 

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Condo buyers slower to make purchase

Cautious. Careful. Insecure. Patient.

Those are words that describe today`s condominium buyer.

"Buyers are out there, but they`re not in a hurry to buy,"says Marlene Swinton, realtor with Re/Max Realty Professionals.

http://www.canada.com/calgaryherald/news/n...fe-eb5e3f8e4035

 

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Housing demand declines in Calgary

Despite the high inventory of single-family homes on Calgary`s resale market, the sector is in a better position than the condo market, says a federal agency.

"The demand has dropped," says Lai Sing Louie, senior market analyst for Canada Mortgage and Housing Corp.

"It`s the same scenario as what is occurring in the multi-family sector, but supply has started pulling back, and the housing starts (on the residential construction side) have started correcting. They`re down more than 40 per cent already."

http://www.canada.com/calgaryherald/news/n...2a-bd4a36fcd26e

 

[joeiannuzzi]

Singing the praises of Southwood

Last week`s column on Rutland Park was hardly delivered when I got a response from a lady proud of her Southwood community. She said it was a gem hidden in plain sight and suggested I learn something about it.

I do know Southwood. In fact, when we selected our first house in Calgary at a Lakeview Parade of Homes, the only available developments were being built in Southwood and Varsity Acres. We chose Varsity Acres in the northwest, but after reading this lady`s e-mail I began to wonder if we had made the right decision.

http://www.canada.com/calgaryherald/news/l...bf-b0df47e93999

 

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Energy companies expect to announce windfall profits

CALGARY -- Earnings season in the Canadian oilpatch begins Monday and due to the surprising heights to which oil and natural gas prices have risen, industry watchers say management teams will feel pressure to put windfall profits to good use.

"Actual first-quarter cash-flow numbers versus analyst and investor expectations from six months ago will be like night and day," said Martin Molyneaux, oil and gas analyst at FirstEnergy Capital Corp.

http://www.canada.com/vancouversun/news/bu...43-42b66cab0094

 

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Residents suggest re-routing west LRT to avoid residential areas

Hundreds of people braved the snow Saturday to crowd into an open house so they could learn more about the proposed west Edmonton LRT route.

Many in the audience questioned whether to follow the recommended route along 87th Avenue from Lewis Estates to the North Saskatchewan River. The line would cross the river on a bridge and eventually hook up with the existing Health Sciences station, but residents suggested the city consider two other options.

http://www.canada.com/edmontonjournal/news...ee-03519c1e98e4

 

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City deals with unsightly properties

As the snow melts, complaints of unsightly properties around the city are on the rise. In 2007, 183 unsightly sites were actioned by the Airdrie municipal enforcement department. According to municipal enforcement team leader Ed Funfer, complaints start coming in every year around this time. "We`re just starting to come into that season now," Funfer said. "The complaints tend to go up as the snow clears. "I would say in April there has been maybe half a dozen so far," he added.

http://www.airdrieecho.com/News/393006.html

 

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City looks to up minimum residential density

Always looking for ways to make Airdrie a more sustainable community, city officials have decided to increase minimum residential density.
A bylaw amendment brought forth by city staff was granted first reading by city council at its regular meeting April 7. The amendment will up the minimum residential density within future neighbourhood structure plans from 5.5 units per acre (UPA) to seven. It will also delete the current density ceiling of nine UPA, in favour of a more flexible approach.
The proposal will give developers more freedom when designing new neighbourhoods and allow for land to be used more efficiently.

http://www.airdrieecho.com/News/393010.html

 

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Alberta`s Energy Future

Who could have thought that a possible solution to our prolific carbon footprint could be tackled by something as small as, and as seemingly unexciting as, alga?
And yet, for Olds College director and scientific leader Dr. Abimbola Abiola, the tiny organism has the potential to capture carbon dioxide, literally feeding the gas to CO2 hungry alga and allowing the organism to create value-added byproducts.
Abiola, guest speaker at the Leduc Nisku EDA`s regular breakfast meeting in New Sarepta March 18, spoke to the growing urgency of dealing with a looming energy crisis, the need to enhance biodiesel applications and quality if only on a small scale, and to look at alternatives for reducing our growing carbon footprint including the feeding and cultivation of algae.

http://www.albertafarmer.com/News/393477.html

 

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More cash for transit project

Town council unanimously approved additional funding to complete an experiential transportation project for Banff`s four new hybrid buses.
Elected officials approved an extra $12,500 from general capital reserves for the project that initially involved a budget of $45,000.
"I would like to see the project come to fruition the way we planned," said Coun. Karen Sorensen.

http://www.banffcragandcanyon.com/News/392945.html

 

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Caring for the battle river

Water, its essential to life and protecting our sources has become paramount.

Many people in the Camrose area rely on the Battle River for their water needs. Over 120,000 people live near the river and countless cattle and wildlife rely on it for their supply.
To raise awareness on the importance of the river, the program Caring for Our Watersheds, Battle River was created to encourage high school and post-secondary students to think of ways to draw attention to the river. Projects were judged and put on display. Winners received cash prizes and accolades from the legislature for their efforts. This year, 14 projects, 12 high schools and two universities have been selected for final judging and display at the University of Alberta Augustana Campus.

http://www.camrosecanadian.com/News/394217.html

 

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Town assets up significantly

The Town of Canmore is in a strong financial position, with $132,091,468 in financial and capital assets.
Canmore town council received the good news at Tuesday`s town council meeting. The town`s assets are up significantly from last year, when the town`s value was determined to be $116,005,555.
The non-consolidated budget demonstrated that the town has revenues totaling $36,699,037 in 2007, which represents an increase of about $6 million from 2006.

http://www.canmoreleader.com/News/393181.html

 

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Alarm sounded over summer water needs

Town officials are crossing their collective fingers and planning for more aggressive education and possibly enforcement as Cochrane heads towards what could be its most challenging summer ever in terms of meeting the community`s need for potable water.

http://www.cochranetimes.com/News/393148.html

 

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Regional transit hopes get provincial boost

Like a speeding locomotive, or perhaps a speeding light rail train, momentum continues to gather that could one day lead to a regional rail transit system for the Calgary region, including Cochrane.

Rick Butler, executive director of the Calgary Regional Partnership (CRP) was before council on Monday to share the news that the Province of Alberta has agreed to fund the CRP Exploring New Transit Paradigms proposal 100 per cent, up to $500,000 for the region.

http://www.cochranetimes.com/News/393152.html