CALGARY - A report from TD Economics says a new oil pipeline to the West Coast would lift Canada and Alberta's gross domestic product, but perhaps not to the degree the provincial and federal governments are forecasting. The government analysis predicts a 0.6 per cent boost to the national economy by the 2040s and 3.5 per cent for Alberta's. The TD report says those numbers "may lean optimistic" as the governments look to advance the project's early-stage development. Using more [Read more]

TORONTO - Canadian and U.S. markets lost ground Thursday following a sharp increase in oil prices after attacks on two Saudi oil tankers in the Red Sea.  Carol Schleif, chief market strategist at BMO Private Wealth, said that markets were facing a “wall of worry” with stocks seeing pressure from several factors, including higher oil prices and nervousness about the AI trade.  “It's important to take a step back and realize markets have done really well, year-to-date. The TSX was at [Read more]

CALGARY - Fuel costs are on the rise in Canada as geopolitical turmoil drives the price of crude oil to its highest level in more than a month.  Gasbuddy.com, which crowdsources pump price data from across Canada and the U.S, says the Canadian national average now sits above $1.80 a litre — a two-cent increase from a day earlier and an eight-cent bump from a week ago.  Patrick De Haan, head of petroleum analysis at Gasbuddy, says that could rise by another five to 10 cents over the [Read more]

CHARLOTTETOWN - Manitoba Premier Wab Kinew says he's open to a west-east pipeline being pitched by his counterparts in Alberta and Ontario. Kinew says the pipeline could make Canada stronger and there are workers in his province who would be eager to help build it. But he says major projects like pipelines need to be built the right way, by addressing environmental concerns and bringing Indigenous governments on board. Speaking at a meeting of premiers in Charlottetown, Kinew says he's [Read more]