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October 2012 B.C. Economic Fundamentals

Ally

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BC quake a warning to risk of oil pipeline, critics say




VANCOUVER`Critics of the Northern Gateway pipeline say the weekend`s massive earthquake just off the B.C. coast is a warning that should be heeded.




The region is the most prone in the west for earthquakes and the subsequent tsunamis that often follow. A 7.7 earthquake off Haida Gwaii on Saturday evening left hundreds of residents without power but caused little damage.




Imagine what would happen if the quake had struck where a pipeline was located, said Keith Stewart, climate and energy campaign coordinator for Greenpeace.





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Ally

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'Critical need' for pipeline for BC, Scotiabank commodity expert says




EDMONTON - It has become something of a mantra among Canada`s leading economists, bankers, investors and public policy think tanks.




Without new energy infrastructure, they warn ` specifically, new oil pipelines to the West Coast ` Canada`s oil industry faces continued price discounts and growing competition as it fights to hang onto its share of a shrinking U.S. market.





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Ally

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In Vancouver, home sales hit the breaks




While many U.S. markets are just now showing signs of recovery from a housing crash, Canada has been enjoying a real-estate boom in recent years. Nowhere was that more pronounced than in Vancouver, a market where land long has been in short supply, hemmed in by mountains and the ocean. The city frequently ranks among the most livable in the world and for decades has attracted waves of wealthy Chinese and Asian immigrants.


But now, prices and sales are falling, while properties are staying unsold for longer. Prices in the high-end market, long fueled by overseas buyers, particularly in recent years by well-heeled Chinese, are dropping off sharply.





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Ally

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Fort St. James residents worrry over pipeline proximity





National Energy Board hearings into the proposed Northern Gateway pipeline hit close to home Monday.





Brenda Gouglas and Kandace Kerr of the Fort St. James Sustainability Group spent the morning Joint Review Panel (JRP) session asking questions about exactly what would happen if the pipeline were to leak near their community.





"The environment is prime for us," Gouglas said in an interview after three-and-a-half hours of questioning. "We work, we play, we live on the water, we draw our water for our crops from there. The environment piece is huge for us."





As the plan currently stands, Fort St. James is situated just to the north of the pipeline route and the pumping station proposed for the community is to be located less than 500 metres from the nearest residence.





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Ally

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Small businesses to drive future economic growth




This is part of a series exploring British Columbia's innovative and active B.C. Jobs Plan.




Small business is an essential part of British Columbia's economy - representing 98 per cent of all industry and generating more than 26,000 new jobs in the province in the past five years alone.




That is why small businesses are a key focus of the $500 million Canada Starts Here: B.C. Jobs Plan, a comprehensive new initiative that also includes skills training, innovative efforts to expand global markets for B.C. products and services, and close partnership with employers and communities on job creation.





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