CALGARY - Canada has the potential to bolster Europe's energy security through a new alliance, but experts say it doesn't necessarily mean tankers crossing the Atlantic Ocean laden with oil or liquefied natural gas. Prime Minister Mark Carney was in Strasbourg, France, this week where he and European Union leadership discussed strengthening ties on several fronts amid strained relations with the United States. Werner Antweiler, an economist at the University of British Columbia, says [Read more]

OTTAWA - Traders are increasingly betting that the Bank of Canada could end its string of interest rate holds and deliver a hike as early as next month. While many economists remain unconvinced that the central bank will raise the cost of borrowing this year, concerns that inflation could become a more persistent thorn than first thought have some pencilling in a tightening cycle to start in early 2027. The U.S. Federal Reserve broke its own stand-pat stance and delivered the United [Read more]

The federal government is expanding a tax incentive to cover a broader array of assets as it aims to drive $1 trillion of new investment in a move roundly applauded by business groups. Prime Minister Mark Carney announced the "productivity mega deduction" during the Canada Investment Summit underway in Toronto. It builds on a measure introduced in budget 2025. In a speech to the summit Tuesday, Carney said the move will help make Canada "by far the most tax-competitive advanced economy for [Read more]

VICTORIA - The British Columbia deficit forecast has grown by $450 million to a record-setting $13.8 billion, largely because of a "calculation error" on natural gas royalties, in a situation one critic describes as a state of "fiscal crisis."  Finance Minister Josie Osborne, who just took over the finance portfolio last month, released the first quarterly report Monday that shows almost $800 million more in revenue, but spending is also up. The added revenue comes from income and sales [Read more]

CLIVE - A village in central Alberta is on track to house the country’s largest carbon capture project. Enhance Energy Inc., a carbon management company, says it has broken ground on its Origins project in Clive, Alta., about 140 kilometres south of Edmonton. Operations are slated to begin in January. The Origins carbon capture and storage hub is to initially have capacity to permanently store up to 1.5 million tonnes of carbon dioxide a year. Enhance Energy already operates [Read more]

CALGARY - Fuel prices tend to ease off around this time of year, but one industry expert says drivers should expect no such relief this time. The high-demand summer driving season winds down after Labour Day and refineries will soon switch to producing cheaper winter fuels. But international crude oil prices have surged above US$100 a barrel as fighting once again escalates in the Strait of Hormuz, a vital shipping route out of the Persian Gulf. Price-tracking website Gasbuddy.com says [Read more]