March 2010
- Thread starter Ally
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Alberta has the largest decrease in the number of EI recipients
EDMONTON — In another sign of economic recovery, 10,040 fewer Albertans relied on employment insurance in January -- the third monthly decrease in a row.
The number of Albertans receiving regular employment insurance in the month totalled 57,600, down 14.8 per cent from December. That was the largest percentage decrease among provinces, Statistics Canada reported Wednesday.
"This is welcome news considering the number of beneficiaries was falling at a faster rate nationally than in Alberta during the months leading up to January," said Dan Sumner, an economist at ATB Financial.
"The reason employment claims are starting to decline is likely due to both a gradually improving labour market and the fact that old claims are running out."
In Canada, 698,800 people received regular EI in January, down 47,700, or 6.4 per cent, from December. It was the fourth consecutive monthly decline.
Read the full article here.
EDMONTON — In another sign of economic recovery, 10,040 fewer Albertans relied on employment insurance in January -- the third monthly decrease in a row.
The number of Albertans receiving regular employment insurance in the month totalled 57,600, down 14.8 per cent from December. That was the largest percentage decrease among provinces, Statistics Canada reported Wednesday.
"This is welcome news considering the number of beneficiaries was falling at a faster rate nationally than in Alberta during the months leading up to January," said Dan Sumner, an economist at ATB Financial.
"The reason employment claims are starting to decline is likely due to both a gradually improving labour market and the fact that old claims are running out."
In Canada, 698,800 people received regular EI in January, down 47,700, or 6.4 per cent, from December. It was the fourth consecutive monthly decline.
Read the full article here.
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Partial rebound in forecast for natural gas prices
EDMONTON — After shutting in or halting drilling on thousands of wells, and laying off thousands of workers, the natural gas industry is poised to see its profits boosted back to levels last seen in 2008, says the Conference Board of Canada.
The board forecasts, in its winter 2010 outlook, that higher average prices will more than offset falling production. Pre-tax profits plunged to about $2 billion in 2009, but are forecast to jump back to $5.85 billion in 2010.
In 2008, profits in the natural-gas extraction industry were $5.87 billion as the industry went from boom in the first half of the year to bust in the second half.
However, moderate prices will keep natural gas drilling activity weak this year, and production is expected to decline by two per cent.
Board economist Todd Crawford sees better times ahead, with profits climbing to $8.27 billion by 2014 as gas slowly returns to prices in the $9-per-thousand-cubic-feet (Mcf) range.
Read the full article here.
EDMONTON — After shutting in or halting drilling on thousands of wells, and laying off thousands of workers, the natural gas industry is poised to see its profits boosted back to levels last seen in 2008, says the Conference Board of Canada.
The board forecasts, in its winter 2010 outlook, that higher average prices will more than offset falling production. Pre-tax profits plunged to about $2 billion in 2009, but are forecast to jump back to $5.85 billion in 2010.
In 2008, profits in the natural-gas extraction industry were $5.87 billion as the industry went from boom in the first half of the year to bust in the second half.
However, moderate prices will keep natural gas drilling activity weak this year, and production is expected to decline by two per cent.
Board economist Todd Crawford sees better times ahead, with profits climbing to $8.27 billion by 2014 as gas slowly returns to prices in the $9-per-thousand-cubic-feet (Mcf) range.
Read the full article here.
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Busy show reflects oilsand`s status as a rare economic bright spot
More than $1 trillion.
That`s the total value of economic activity that`s expected to be generated by Alberta`s oilsands over the next decade, according to the Canadian Manufacturers & Exporters (CME).
So exactly how much is $1 trillion -- or if you prefer, $1,000,000,000,000? Well, think of it this way.
It`s equal to roughly 75 per cent of Canada`s GDP (gross domestic product), and it`s more than three times larger than Alberta`s current annual economic output. Either way, that`s a lotta loonies.
In 2009 alone, energy companies poured $30 billion into the oilsands. About 60 per cent of that went into maintenance and supplies, the rest into new project development.
Read the full article here.
More than $1 trillion.
That`s the total value of economic activity that`s expected to be generated by Alberta`s oilsands over the next decade, according to the Canadian Manufacturers & Exporters (CME).
So exactly how much is $1 trillion -- or if you prefer, $1,000,000,000,000? Well, think of it this way.
It`s equal to roughly 75 per cent of Canada`s GDP (gross domestic product), and it`s more than three times larger than Alberta`s current annual economic output. Either way, that`s a lotta loonies.
In 2009 alone, energy companies poured $30 billion into the oilsands. About 60 per cent of that went into maintenance and supplies, the rest into new project development.
Read the full article here.
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Province working to fill in royalty banks
Actions announced last week in response to the competitiveness review are not the Alberta government`s final word on oil and gas royalties, Energy Minister Ron Liepert said in Calgary on Wednesday.
In a sold-out speech to the Calgary Chamber of Commerce, Liepert said his department is continuing to consult the industry ahead of announcing "royalty curve" details by the May 31 deadline.
While the government announced last week a permanent royalty of five per cent on initial production and maximum royalties of 36 per cent on natural gas and 40 per cent on oil, it didn`t fill in the rest of the royalty rate picture.
"We`ve committed to work with industry and review what are called the `curves` and see if there are additional adjustments we should make by the 31st of May," he said in his speech. "I need to remind folks that these are adjustments. There will not be an overhaul."
The lack of detail on the curves has disappointed many who explore for oil and gas in Alberta, because it may spell the difference between making money and losing money on a well, especially when prices are low.
Read the full article here.
Actions announced last week in response to the competitiveness review are not the Alberta government`s final word on oil and gas royalties, Energy Minister Ron Liepert said in Calgary on Wednesday.
In a sold-out speech to the Calgary Chamber of Commerce, Liepert said his department is continuing to consult the industry ahead of announcing "royalty curve" details by the May 31 deadline.
While the government announced last week a permanent royalty of five per cent on initial production and maximum royalties of 36 per cent on natural gas and 40 per cent on oil, it didn`t fill in the rest of the royalty rate picture.
"We`ve committed to work with industry and review what are called the `curves` and see if there are additional adjustments we should make by the 31st of May," he said in his speech. "I need to remind folks that these are adjustments. There will not be an overhaul."
The lack of detail on the curves has disappointed many who explore for oil and gas in Alberta, because it may spell the difference between making money and losing money on a well, especially when prices are low.
Read the full article here.
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Calgary resale home prices expecting 5%-7% annual growth in short term
CALGARY - A report by the Conference Board of Canada today says the short-term year-over-year price growth expectation for Calgary`s resale housing market is in the five per cent to seven per cent range.
The board`s report said Calgary`s market is considered in the balanced territory.
Read the full article here.
CALGARY - A report by the Conference Board of Canada today says the short-term year-over-year price growth expectation for Calgary`s resale housing market is in the five per cent to seven per cent range.
The board`s report said Calgary`s market is considered in the balanced territory.
Read the full article here.
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Alberta`s budget shortfall shrinks
OTTAWA -- In further proof that the Canadian economy has roared back to life, the Department of Finance said Friday it nearly hit a balanced budget in January based on the first monthly increase in tax revenue in over a year.
The $265-million shortfall in January is by far the smallest so far this 2009-10 fiscal year, ending March 31. The latest issue of the Fiscal Monitor lends to credence to arguments from some economists that the federal deficit might shrink faster than the Department of Finance indicated in its budget earlier this month.
According to Finance, Ottawa recorded a budget shortfall of $265-million, compared with a small $118-million surplus in the same year-ago month. This fiscal year, monthly deficits have tended to range in the $3-billion to $5-billion range.
With two months left to report for the 2009-10 fiscal year, the federal government has a budget deficit of $39.6-billion, whereas Finance envisaged a $53.8-billion shortfall for the entire fiscal year. Should the momentum continue, it is possible the federal deficit for this fiscal year could be quite a bit smaller than projected in the budget.
Of the year-to-date shortfall, Finance estimated that roughly $17-billion is attributable to the two-year, $48-billion stimulus plan. The budget commits to implementing the second year of the stimulus scheme, even though signs of life in the economy have emerged.
Read the full article here.
OTTAWA -- In further proof that the Canadian economy has roared back to life, the Department of Finance said Friday it nearly hit a balanced budget in January based on the first monthly increase in tax revenue in over a year.
The $265-million shortfall in January is by far the smallest so far this 2009-10 fiscal year, ending March 31. The latest issue of the Fiscal Monitor lends to credence to arguments from some economists that the federal deficit might shrink faster than the Department of Finance indicated in its budget earlier this month.
According to Finance, Ottawa recorded a budget shortfall of $265-million, compared with a small $118-million surplus in the same year-ago month. This fiscal year, monthly deficits have tended to range in the $3-billion to $5-billion range.
With two months left to report for the 2009-10 fiscal year, the federal government has a budget deficit of $39.6-billion, whereas Finance envisaged a $53.8-billion shortfall for the entire fiscal year. Should the momentum continue, it is possible the federal deficit for this fiscal year could be quite a bit smaller than projected in the budget.
Of the year-to-date shortfall, Finance estimated that roughly $17-billion is attributable to the two-year, $48-billion stimulus plan. The budget commits to implementing the second year of the stimulus scheme, even though signs of life in the economy have emerged.
Read the full article here.
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- Mar 24, 2009
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Alberta is blessed with riches
Dalton McGuinty should send Ann Coulter a big bouquet of flowers and a nice thank-you note. It`s the least he could do.
While the trash-talking right-wing provocateur hogged the media spotlight this week, McGuinty and crew must have been thrilled to shuffle off centre stage.
When you`re announcing the biggest budget deficit in Ontario history, as McGuinty just did, and years of red ink to come, it`s always handy to have a headline-hunting loudmouth around to deflect the public`s attention.
The fact that Ontario`s projected shortfall of $21.3 billion for fiscal 2009-10 was spun as good news by some -- it was $3.4 billion lower than prior estimates -- only underscores the depth of the province`s fiscal nightmare.
The simple fact is, Canada`s traditional economic heavyweight, long the biggest contributor to federal equalization, is in very serious trouble. The outlook is likely to get decidedly worse before it gets better
Read the full article here.
Dalton McGuinty should send Ann Coulter a big bouquet of flowers and a nice thank-you note. It`s the least he could do.
While the trash-talking right-wing provocateur hogged the media spotlight this week, McGuinty and crew must have been thrilled to shuffle off centre stage.
When you`re announcing the biggest budget deficit in Ontario history, as McGuinty just did, and years of red ink to come, it`s always handy to have a headline-hunting loudmouth around to deflect the public`s attention.
The fact that Ontario`s projected shortfall of $21.3 billion for fiscal 2009-10 was spun as good news by some -- it was $3.4 billion lower than prior estimates -- only underscores the depth of the province`s fiscal nightmare.
The simple fact is, Canada`s traditional economic heavyweight, long the biggest contributor to federal equalization, is in very serious trouble. The outlook is likely to get decidedly worse before it gets better
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
New technology brings wealth of gas
Like all great technological revolutions, the one that has turned the natural gas industry upside down was not predicted.
"We know now there is a lot more gas out there, all across North America, than we ever thought possible," consultant Brad Hayes said at the recent National Buyer/Seller Forum in Edmonton.
"But up until 10 years ago, geologists would tell you that gas in shale was never going to come out. And because it has, it has become a game changer."
Hayes, a geologist, is also president of Petrel Robertson Consulting.
He sees huge amounts of less expensive gas coming from tight sandstone and shale deposits that span the continent.
The trend would forever change Alberta`s conventional gas industry, which has been an economic driver of the province for more than half a century.
Read the full article here.
Like all great technological revolutions, the one that has turned the natural gas industry upside down was not predicted.
"We know now there is a lot more gas out there, all across North America, than we ever thought possible," consultant Brad Hayes said at the recent National Buyer/Seller Forum in Edmonton.
"But up until 10 years ago, geologists would tell you that gas in shale was never going to come out. And because it has, it has become a game changer."
Hayes, a geologist, is also president of Petrel Robertson Consulting.
He sees huge amounts of less expensive gas coming from tight sandstone and shale deposits that span the continent.
The trend would forever change Alberta`s conventional gas industry, which has been an economic driver of the province for more than half a century.
Read the full article here.