The TSX Composite is down roughly a 1000 points from a mid-April (and 2015 to date) high of 15,449 amidst uncertainty in Europe over a possible Grexit and weak global oil prices. Greek Prime Minister Alexis Tsipras made a surprise call for a referendum next Sunday that will focus on whether reform proposals the country’s creditors have demanded should be accepted to get access to blocked bailout funds. In the meantime, strict controls have been placed on capital, with Tsipras closing banks [Read more]
ATB boss Dave Mowat to lead Alberta royalty review
Alberta Energy Minister Marg McCuaig-Boyd today announced the appointment of ATB Financial's President and CEO Dave Mowat to lead the Alberta NDP's royalty review panel. McCuaig-Boyd is giving Mowat the responsibility to appoint members to the panel that will come up with recommendations by the end of the year. The points of reference with which the panel will work are still, according to McCuaig-Boyd, "being finalized". "As one of four million-plus owners of Alberta's natural resources [Read more]
TransCanada cuts 185 jobs
Today, it was announced that TransCanada is cutting 185 jobs in its major projects division. The second largest midstream company in Canada is laying off 100 full-time employees and 85 contractors in an effort to cut costs and remain competitive. TransCanada clarifying that tho major projects has staff all over N America, most of the 185 layoffs are in Calgary. http://t.co/Ex1pt4240Q— Dan Healing (@Healingslowly) June 23, 2015 A spokesperson from TransCanada said in a statement: [Read more]
WATCH: Ezra Levant deconstructs Notley’s anti-Keystone, pro-refining position
If you, like many, are curious to hear the other side of the debate on the benefits (or lack thereof) of increased refining capacity, Ezra Levant recently published a video that will make the topic clearer. In the video, he makes a solid fact based argument on how the Notley led NDP government is getting the "refining will save Alberta" argument wrong. Levant also discusses Notley's hypocritical stance on the Keystone XL issue by pointing out her support for other pipelines such as the [Read more]
Contrary to Popular Opinion Calgary’s Downtown Real Estate Follows Energy Industry
City of Calgary Mayor Naheed Nenshi, has enjoyed sweeping popularity among Calgarians as the city’s municipal leader. From the way he and his fellow councilors dealt with the 2013 floods, to how he became the first Calgary mayor to grand marshal the Calgary Pride parade, to his seemingly effortless capacity to speak his mind; Nenshi is endeared by not only Calgarians, but Albertans, Canadians, and people from around the world (last year he won the World Mayor Prize). Political popularity, [Read more]
WATCH: Explosive Debate Over Fracking Erupts on Fox Business Network
An explosive debate about fraccing erupted on air between Stuart Varney of Fox Business Network and documentary filmmaker and anti-fraccing advocate Josh Fox. The United States' Environmental Protection Agency (EPA) released a study last week that claimed in its executive summary that there is insufficient evidence to suggest “fraccing” has caused widespread environmental issues largely related to drinking water. The accuracy of the EPA's finding's were the focus of the intense [Read more]
Sayonara to Investment Capital If NDP Win
When Ed Stelmach introduced a new Alberta royalty scheme in 2007, capital for resource development promptly took flight. To make matters worse, on the heels of Mr. Stelmach’s decision was the arrival of 2008’s financial crisis. For a time, the Alberta economic picture was bleak. Rachel Notley has made it no secret in her desire to review royalty rates and potentially increase them. And strongly associated with the Alberta NDP is the Alberta Union of Provincial Employees. Like the NDP, they [Read more]
NDP stance on fracking could have crippling implications to Alberta’s oil industry
Over the years, Alberta NDP leader Rachel Notley has made it clear that she is not comfortable with the development of Alberta’s conventional oil and gas industry using hydraulic fracturing technology and the required volumes of water. In the summer of 2012, as the NDP environment critic, she said there are too many questions about the safety and impact (of fracking) on Alberta’s water supply. "If we don't get a better understanding of what's safe for Albertans, we run the risk of doing some [Read more]
What ‘Notley-nomics’ Would Mean to Alberta
Rightly so, there has been considerable concern expressed from many leading figures in business and government when it comes to Rachel Notley’s Alberta NDP energy industry policy. From Federal senators, to academics, to industry leading oil and gas chief executives, apprehension has been voiced over the suitability of raising corporate income taxes, changing Alberta’s royalty rate regime, the prospect of newly added crude processing capacity and an overall distaste for new pipeline [Read more]
Global Demand for Oil is Surging
The International Energy Agency, in its recently published April Oil Market Report, raised its forecast of 2015 global oil demand by 90,000 barrels per day to 93.6 million b/d. This represents a gain of 1.1 million b/d on the year and a noteworthy acceleration of the 700,000 b/d demand growth in 2014. Of course, the backdrop for increased oil demand is the improving global economy as it slowly gains momentum. The IEA report was clear when it mentioned that given deep changes in supply and [Read more]
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