January 2012 Alberta Economic Fundamentals

[Ally]

Canadian crude oil production expected to rise 23% by 2016





CALGARY ` Canadian oil production will increase by 23 per cent within four years, increasing pressure on outlets to markets south of the border, according to Colorado-based Bentek Energy.




Canadian crude production is expected to rise by 763,000 barrels per day by the end of 2016, the energy markets analytics firm said in a report Tuesday.




Much of the increase will be driven by oilsands projects ramping up and by conventional crude plays gaining momentum through technologies such as horizontal drilling and multi-stage fracturing, Bentek said.




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[Ally]

Canadian oilsands firms ranked among world's sustainable companies





Despite talk of Canada`s "dirty oil," in a report ranking the world`s 100 most sustainable big companies, four of the six Canadian entries have some kind of connection to the oilsands.




In the eighth annual edition of this report from Toronto-based Corporate Knights Magazine, a publication promoting `clean capitalism,` the top-ranked Canadian firm is Suncor Energy Inc., at No. 48. It is one of the world`s biggest producers of oilsands material.




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[Ally]

Calgary luxury condo unit pre-sells for record $8.3 million





CALGARY ` Calgary condo sales have reached new heights after a luxury unit fetched a record $8.3 million, before construction has begun.




The 5,260-square-foot condo will cover the entire 12th floor of the 15-storey development called The River, located along the Elbow River, which flows through the southern portion of the city.




Already, more than $30 million in real estate has been spoken for in the project, which includes 38 residences ` 27 units in the tower and 11 town houses.






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[Ally]

Alberta generating high-quality jobs: CIBC World Markets





CALGARY ` Alberta continues to generate high-quality jobs at a rapid pace, says a report released Wednesday by CIBC World Markets.




Alberta showed a nation-leading year-over-year change of 7.7 per cent in the bank`s Canadian Employment Quality Index for the fourth quarter of 2011. Atlantic Canada was next at a four per cent hike followed by Quebec at 2.74 per cent and Manitoba/Saskatchewan at 0.49 per cent.




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[Ally]

Government to stay out of new bitumen upgrading





As Alberta's oilsands production continues to ramp up, Premier Alison Redford says, her government will take a handsoff approach to the increased upgrading of bitumen in the province.




But a recent poll shows strong public support for the province taking a more active role in furthering oilsands processing, with everything from export taxes to tax incentives on the table.






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[Ally]

Let's lift barrier to secondary suites in Calgary





Once again, Alberta is leading Canada's economic growth. Almost half of the new jobs created in Canada last year were created here, and Alberta boasts the lowest unemployment numbers in the country at 4.9 per cent. The availability of jobs will make Alberta a magnet for economic migrants for some time to come.




But Alberta has the potential to build on economic success. It also has the potential to create a social vitality that will allow individuals and families to flourish. Our province has the necessary ingredients; they just need to be properly cultivated.






Read the full article here.