February 2013 Alberta Economic Fundamentals
- Thread starter Ally
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Nexen closer to moving crude oil to West Coast by train
Nexen Inc. has laid the groundwork for a concept to use trains to carry crude to the West Coast for export, as Canada`s energy industry rushes to find new ways to move oil out of North America.
The Calgary company, which has agreed to a takeover by China`s CNOOC Ltd., has spent more than a year on an idea that would see oil move by rail to Prince Rupert, B.C., where an export terminal on federal land could load it onto tankers bound for Asia.
Read the full article here.
Nexen Inc. has laid the groundwork for a concept to use trains to carry crude to the West Coast for export, as Canada`s energy industry rushes to find new ways to move oil out of North America.
The Calgary company, which has agreed to a takeover by China`s CNOOC Ltd., has spent more than a year on an idea that would see oil move by rail to Prince Rupert, B.C., where an export terminal on federal land could load it onto tankers bound for Asia.
Read the full article here.
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Alberta's boom and bust plague must end
How do you change a political culture? Is a crisis required for change, or will honest talk without a crisis suffice? How many times does a jurisdiction have to make the same mistake before people wake up?
These questions relate to Alberta today, just as they have in the past. Alberta is not the only place where an entrenched political culture produces enduring mistakes, but it`s the one in the headlines ` again.
Read the full article here.
How do you change a political culture? Is a crisis required for change, or will honest talk without a crisis suffice? How many times does a jurisdiction have to make the same mistake before people wake up?
These questions relate to Alberta today, just as they have in the past. Alberta is not the only place where an entrenched political culture produces enduring mistakes, but it`s the one in the headlines ` again.
Read the full article here.
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Pipeline to East may not be a pipe dream
Faced with losing billions of dollars in potential revenue, western Canadian oil companies are looking eastward to access new domestic and international markets.
Brenda Kenny, president and chief executive officer of the Canadian Energy Pipeline Association, told a Halifax business audience Tuesday that a `shortage of energy highways` in the country means a potential loss of $70 billion for producers and the national economy
Read the full article here.
Faced with losing billions of dollars in potential revenue, western Canadian oil companies are looking eastward to access new domestic and international markets.
Brenda Kenny, president and chief executive officer of the Canadian Energy Pipeline Association, told a Halifax business audience Tuesday that a `shortage of energy highways` in the country means a potential loss of $70 billion for producers and the national economy
Read the full article here.
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Edmonton LRT Line Names Approved
The City of Edmonton`s Naming Committee has chosen the names for the city`s 5 current and future LRT lines.
Edmonton Transit System (ETS) received over 900 submissions from the public for names for the LRT lines as part of a contest it held in 2012. A short list of names was provided to Leger Marketing for an extensive market research evaluation.
`We were very pleased to see the level of interest and variety of names we received from the public on this important project,` said Nathan Walters, ETS Marketing Group. `Public transit plays a role in shaping the image and reputation of a city, and this process gave Edmontonians a unique opportunity to play a role in how we want Edmonton to be identified.`
Read the full article here.
The City of Edmonton`s Naming Committee has chosen the names for the city`s 5 current and future LRT lines.
Edmonton Transit System (ETS) received over 900 submissions from the public for names for the LRT lines as part of a contest it held in 2012. A short list of names was provided to Leger Marketing for an extensive market research evaluation.
`We were very pleased to see the level of interest and variety of names we received from the public on this important project,` said Nathan Walters, ETS Marketing Group. `Public transit plays a role in shaping the image and reputation of a city, and this process gave Edmontonians a unique opportunity to play a role in how we want Edmonton to be identified.`
Read the full article here.
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Calgary housing market soars to new average sale price record in January
CALGARY ` Calgary`s resale housing market had its best January for sales since 2008 as average prices also climbed to their highest level ever for the month.
According to the Calgary Real Estate Board, total MLS sales in the city in January were 1,230, up 15.17 per cent from a year ago while the average sale price rose by 12.34 per cent cent to $439,671.
Read the full article here.
CALGARY ` Calgary`s resale housing market had its best January for sales since 2008 as average prices also climbed to their highest level ever for the month.
According to the Calgary Real Estate Board, total MLS sales in the city in January were 1,230, up 15.17 per cent from a year ago while the average sale price rose by 12.34 per cent cent to $439,671.
Read the full article here.
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$15B Enbridge pipeline network aims to move one million barrels of oil to market
EDMONTON - While Alberta worries about the huge gap between Canadian and U.S. oil prices caused by pipeline bottlenecks, Enbridge is working on a series of projects that aim to move more than one million barrels per day to markets.
The combination of line expansions and new construction represents more capacity than TransCanada`s 830,000 bpd Keystone XL pipeline that has dominated the news for over a year as it faced opposition and delays in the U.S.
Read the full article here.
EDMONTON - While Alberta worries about the huge gap between Canadian and U.S. oil prices caused by pipeline bottlenecks, Enbridge is working on a series of projects that aim to move more than one million barrels per day to markets.
The combination of line expansions and new construction represents more capacity than TransCanada`s 830,000 bpd Keystone XL pipeline that has dominated the news for over a year as it faced opposition and delays in the U.S.
Read the full article here.
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Nature editorial on Keystone XL pipeline confirms oilsands' carbon footprint is exaggerated
This just in !! The environmental impact of the proposed Keystone XL pipeline has been grossly exaggerated !!
Of course, this is hardly a surprise. I`ve been saying the same thing for years now. And anyone who is familiar with the actual data on global carbon emissions would know this too.
Read the full article here.
This just in !! The environmental impact of the proposed Keystone XL pipeline has been grossly exaggerated !!
Of course, this is hardly a surprise. I`ve been saying the same thing for years now. And anyone who is familiar with the actual data on global carbon emissions would know this too.
Read the full article here.
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Keystone XL is coming back
PRESIDENT OBAMA rejected the Keystone XL oil pipeline this time last year, a result that Canada had every reason to be dismayed by, as did Americans whom the project would have employed. The issue is coming back, and the president has even less reason to nix the project than he did last time.
After years of federal review, there was little question last year that construction of the pipeline, which would transport heavy, oil-like bitumen from Alberta to the Gulf of Mexico coast, should proceed. Thousands of miles of pipeline already crisscross this country. An environmental analysis had concluded that the risks of adding this new stretch were low. An economic review had found that Canada would get its bitumen to the world market ` if not via pipeline to the gulf, then very likely by ship to China. Supply would make it to demand, one way or another.
Read the full article here.
PRESIDENT OBAMA rejected the Keystone XL oil pipeline this time last year, a result that Canada had every reason to be dismayed by, as did Americans whom the project would have employed. The issue is coming back, and the president has even less reason to nix the project than he did last time.
After years of federal review, there was little question last year that construction of the pipeline, which would transport heavy, oil-like bitumen from Alberta to the Gulf of Mexico coast, should proceed. Thousands of miles of pipeline already crisscross this country. An environmental analysis had concluded that the risks of adding this new stretch were low. An economic review had found that Canada would get its bitumen to the world market ` if not via pipeline to the gulf, then very likely by ship to China. Supply would make it to demand, one way or another.
Read the full article here.
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MEG Energy looks to barge its bitumen to the Gulf of Mexico
America`s Big River could be a new passage for Canadian heavy oil in the race to bypass pipeline jams and get Alberta bitumen to refineries on the Gulf Coast.
MEG Energy Corp. said Thursday it has a new plan to transport Canadian crude by inland waterway, barging the bitumen down the Mississippi River beginning later this year.
Read the full article here.
America`s Big River could be a new passage for Canadian heavy oil in the race to bypass pipeline jams and get Alberta bitumen to refineries on the Gulf Coast.
MEG Energy Corp. said Thursday it has a new plan to transport Canadian crude by inland waterway, barging the bitumen down the Mississippi River beginning later this year.
Read the full article here.
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Heavy crude discount no cause for panic
While the widening Canadian heavy crude discount has sent the Alberta government scrambling to make up for the shortfall, the province`s oil sands companies are not pressing the panic button ` yet.
Stronger balance sheets backing projects, foreign capital and risk-sharing will help the industry weather the downside, Bob German, chief executive of contracting firm Horizon North Logistics Inc., told a recent investor conference.
Read the full article here.
While the widening Canadian heavy crude discount has sent the Alberta government scrambling to make up for the shortfall, the province`s oil sands companies are not pressing the panic button ` yet.
Stronger balance sheets backing projects, foreign capital and risk-sharing will help the industry weather the downside, Bob German, chief executive of contracting firm Horizon North Logistics Inc., told a recent investor conference.
Read the full article here.
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Canada's national energy strategy: Alberta oil to east coast
Edmonton - With the XL Keystone and Northern Gateway pipelines in limbo, Alberta's Premier Alison Redford is looking at markets in Central and Atlantic Canada. In an effort to market Alberta oil, Redford is developing a national energy strategy.
Blaming declining oil revenues, Alberta's Premier Alison Redford is focusing on markets in eastern Canada and hoping to develop a National Energy Strategy (NES) in conjunction with Canada's first ministers.
Read the full article here.
Edmonton - With the XL Keystone and Northern Gateway pipelines in limbo, Alberta's Premier Alison Redford is looking at markets in Central and Atlantic Canada. In an effort to market Alberta oil, Redford is developing a national energy strategy.
Blaming declining oil revenues, Alberta's Premier Alison Redford is focusing on markets in eastern Canada and hoping to develop a National Energy Strategy (NES) in conjunction with Canada's first ministers.
Read the full article here.
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Alberta gets unexpected Keystone ally
Premier Alison Redford will Friday appoint new representatives to make Alberta's case in Washington and Ottawa even as the province receives unexpected allies in its effort to bypass the "bitumen bubble" that is costing the government billions of dollars annually.
A number of U.S. newspapers have urged President Barack Obama to approve the Keystone XL pipeline from the oilsands to Texas refineries. But the week's most surprising endorsement undeniably came from the respected scientific journal Nature.
Read the full article here.
Premier Alison Redford will Friday appoint new representatives to make Alberta's case in Washington and Ottawa even as the province receives unexpected allies in its effort to bypass the "bitumen bubble" that is costing the government billions of dollars annually.
A number of U.S. newspapers have urged President Barack Obama to approve the Keystone XL pipeline from the oilsands to Texas refineries. But the week's most surprising endorsement undeniably came from the respected scientific journal Nature.
Read the full article here.
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Alberta must respect B.C. pipeline concerns
B.C.'s opposition to the Northern Gateway pipeline stands to harm Alberta's economy, and nurture resentment between residents of the two provinces.
The situation is reminiscent of a long-standing tiff between Newfoundland and Quebec, a province that doesn't allow a through route for the sale of Labrador's hydro power to New England. Quebec buys up the power at low prices, reselling it at a big profit in the U.S.
Read the full article here.
B.C.'s opposition to the Northern Gateway pipeline stands to harm Alberta's economy, and nurture resentment between residents of the two provinces.
The situation is reminiscent of a long-standing tiff between Newfoundland and Quebec, a province that doesn't allow a through route for the sale of Labrador's hydro power to New England. Quebec buys up the power at low prices, reselling it at a big profit in the U.S.
Read the full article here.
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Alberta looks to woo New Brunswick to create west-east oil pipeline
It's a scenario you could hardly have imagined just a few years ago: Alberta sitting on a wealth of oil riches but potentially no way to get it to customers.
With the proposed Northern Gateway oil sands pipeline to the West Coast getting a negative reception in British Columbia and the planned Keystone XL pipeline through the United States still in limbo, that's exactly what's happening.
Read the full article here.
It's a scenario you could hardly have imagined just a few years ago: Alberta sitting on a wealth of oil riches but potentially no way to get it to customers.
With the proposed Northern Gateway oil sands pipeline to the West Coast getting a negative reception in British Columbia and the planned Keystone XL pipeline through the United States still in limbo, that's exactly what's happening.
Read the full article here.
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Housing market strong outside Calgary
CALGARY ` The resale housing market in places just outside the City of Calgary saw MLS transactions spike in January compared with a year ago.
According to the Calgary Real Estate Board, total sales of 245 in that market were up 31.02 per cent from January 2011.
The average sale price, though, dipped by 0.55 per cent, to $349,213.
Read the full article here.
CALGARY ` The resale housing market in places just outside the City of Calgary saw MLS transactions spike in January compared with a year ago.
According to the Calgary Real Estate Board, total sales of 245 in that market were up 31.02 per cent from January 2011.
The average sale price, though, dipped by 0.55 per cent, to $349,213.
Read the full article here.
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First Nations carving out an energy bridge to the coast of BC
For the Canadian energy industry desperate to pump oil and natural gas through British Columbia, the single greatest obstacle has been the dozens of first nations fighting to ensure pipelines are never built.
Now, some of the leading figures in Canada`s aboriginal business community are offering a bridge across the province`s difficult political landscape. They have formed Eagle Spirit Energy Holdings Ltd., a company quietly working to create a first nations-owned energy corridor across northern B.C. that could serve as a physical line across the province to move natural gas, electricity and oil.
Read the full article here.
For the Canadian energy industry desperate to pump oil and natural gas through British Columbia, the single greatest obstacle has been the dozens of first nations fighting to ensure pipelines are never built.
Now, some of the leading figures in Canada`s aboriginal business community are offering a bridge across the province`s difficult political landscape. They have formed Eagle Spirit Energy Holdings Ltd., a company quietly working to create a first nations-owned energy corridor across northern B.C. that could serve as a physical line across the province to move natural gas, electricity and oil.
Read the full article here.
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No relief for Canadian crude as BP delays Whiting refinery project
BP Plc`s Whiting refinery in Indiana won`t be able to process heavy Canadian crude at full rates until 2014, Chief Executive Officer Bob Dudley said in the company`s fourth-quarter earnings call.
The largest crude unit at the refinery won`t come back online until the middle of 2013 after it was shut in November for an upgrade to process less-expensive heavy oil, Dudley said. The other units involved in the project ` a coker, gas oil hydrotreater and sulfur recovery unit ` will come online in sequence over the following six to nine months.
Read the full article here.
BP Plc`s Whiting refinery in Indiana won`t be able to process heavy Canadian crude at full rates until 2014, Chief Executive Officer Bob Dudley said in the company`s fourth-quarter earnings call.
The largest crude unit at the refinery won`t come back online until the middle of 2013 after it was shut in November for an upgrade to process less-expensive heavy oil, Dudley said. The other units involved in the project ` a coker, gas oil hydrotreater and sulfur recovery unit ` will come online in sequence over the following six to nine months.
Read the full article here.
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Tight Alberta labour market loosens
The board`s Indicator of Labour Market Tightness also suggests that the labour market loosened slightly in December in Canada as the ratio of the unemployed to online job postings increased from 2 to 2.06.
`This slight loosening is the result mainly of a decline in the number of job postings. At the provincial level, labour markets loosened in six provinces and tightened in four. Most of the loosening took place in Alberta and Nova Scotia, and some moderate loosening took place in Prince Edward Island, Saskatchewan, Ontario, and Manitoba. Moderate tightening was seen in Quebec, Newfoundland and Labrador, New Brunswick, and British Columbia,` said the board.
Read the full article here.
The board`s Indicator of Labour Market Tightness also suggests that the labour market loosened slightly in December in Canada as the ratio of the unemployed to online job postings increased from 2 to 2.06.
`This slight loosening is the result mainly of a decline in the number of job postings. At the provincial level, labour markets loosened in six provinces and tightened in four. Most of the loosening took place in Alberta and Nova Scotia, and some moderate loosening took place in Prince Edward Island, Saskatchewan, Ontario, and Manitoba. Moderate tightening was seen in Quebec, Newfoundland and Labrador, New Brunswick, and British Columbia,` said the board.
Read the full article here.