EDMONTON - Alberta Premier Rachel Notley and Prime Minister Justin Trudeau emerged from a meeting Wednesday with a formal commitment to fast-track $700 million in previously committed federal infrastructure money to the struggling province."The federal government is committed to fast-track infrastructure investments for Alberta, and indeed all provinces and territories," Trudeau told reporters in the rotunda of the legislature after the meeting."This will help promote jobs and growth where they [Read more]
Energy East builder TransCanada to announce deal with big international firm
MONTREAL - The company planning to build the Energy East pipeline says it has concluded a "major supply agreement" with an international firm that will benefit the Quebec economy.Officials of TransCanada Corp. (TSX:TRP) and the president and CEO of ABB Canada are going to be in Montreal on Wednesday to sign the deal. ABB Canada is a division of ABB Group, a huge Swiss-based power and automation technology firm whose customers are involved in utilities, industry, transport and [Read more]
QuickFacts: How Alberta’s economy has performed vs. its past self and Canada
OTTAWA - Alberta's economy took a nosedive with the downturn in oil prices. Growth and employment have both taken a hit.Here are some facts, including forecasts from BMO Capital Markets.THE GOOD OL' DAYS:Growth: In 2014, the Canadian economy as a whole grew 2.5 per cent, while Alberta expanded 4.8 per cent.Unemployment: That same year, the national unemployment rate was 6.9 per cent, while it was 4.7 per cent in Alberta.Debt and deficits: In the 2014-15 fiscal year, Canadian governments as a [Read more]
Trudeau to visit struggling Alberta where oil sector seeks support for pipelines
OTTAWA - Prime Minister Justin Trudeau travels Wednesday to Alberta, where the battered oil sector will be looking for strong signals that Ottawa is serious about helping deliver its controversial commodity to tidewater.The president of the Canadian Association of Oilwell Drilling Contractors said Tuesday the industry isn't looking for a handout — just federal support on the contentious issue of building pipelines.Mark Scholz warned if the industry can't get its product to market, then Alberta [Read more]
Oil industry group says Trans Mountain panel subjected to ‘abuse’ from opponents
CALGARY - A vice-president at the Canadian Association of Petroleum Producers has lashed out at opponents of the Trans Mountain pipeline review process, calling much of the criticism "shameful" and "abusive."Nick Schultz was first up Tuesday as a three-member panel weighing the multibillion-dollar project began hearing oral arguments from interveners in Calgary."In the course of this long process, you have been subjected to unfair criticism — systematic abuse, in fact — from some who simply want [Read more]
B.C. Premier Christy Clark to canvass economic issues in upcoming Ottawa visit
VANCOUVER - Premier Christy Clark says her primary focus in an upcoming trip to Ottawa will be to bolster British Columbia's position as the top-ranking provincial economy in the country.Clark is slated to meet with federal government officials this week to discuss support for various B.C. industries and how the new Liberal government can strengthen her province's economic performance.She describes B.C.'s economy as a bright spot that is growing at nearly double the rate of the rest of the [Read more]
Premier Brad Wall says Trudeau should champion energy sector, Energy East
REGINA - Saskatchewan Premier Brad Wall says Prime Minister Justin Trudeau should take a stand and support the Energy East pipeline.Trudeau said last week that his role as prime minister in thorny issues such as pipelines is to bring people together and secure a better future for Canadians.Wall disagrees."We have a referee. It's the National Energy Board and it's the regulatory bodies and they should do their job, to be sure," Wall said Monday after a speech to the Saskatchewan Urban [Read more]
USD Group withdraws proposal to expand Alberta oil-by-rail facility
EDMONTON - A company that was proposing to expand the size of a rail facility to double the number of trains it can load with Alberta oil has shelved the project.USD Terminals Canada announced in November that it wanted to construct new tracks and loading buildings at its rail terminal in Hardisty, southeast of Edmonton."USD Group has presently withdrawn its Canadian Environmental Assessment Agency (CEAA) application and is reviewing its options," Meg Martin, a spokeswoman for the company wrote [Read more]
Alberta government unveils program to boost province’s petrochemical sector
CALGARY - The Alberta government aims to create thousands of jobs and reel in billions in investment by providing $500 million in royalty credits to the province's petrochemical sector.The Petrochemicals Diversification Program announced Monday is one example of how the NDP government aims to encourage more value-added processing in Alberta — turning raw materials into more lucrative products within the province rather than shipping them elsewhere."We understand that to create long-term [Read more]
Alberta may qualify for federal cash injection from little-known program
OTTAWA - The Liberal government is eyeing a little-known federal program as it searches for ways to help Alberta cope with the financial squeeze of sinking commodity prices, The Canadian Press has learned.The Alberta government is bracing for a steep fall in revenues in 2015-16 due to sliding resource prices, which could result in the province qualifying for cash relief from Ottawa through the so-called fiscal stabilization program.Provinces can make claims under the program when their revenues [Read more]
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