May 2012 Alberta Economic Fundamentals
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
Increased demand for Calgary industrial real estate
CALGARY ` Increased demand from steady growth in the Alberta economy is creating some competition among tenants for vacant industrial real estate space in Calgary, says a new report by Colliers International.
The company said the first quarter of 2012 was very active with vacancy falling by 53 basis points from 4.8 per cent at the end of 2011 to 4.27 per cent at the end of March.
Read the full article here.
CALGARY ` Increased demand from steady growth in the Alberta economy is creating some competition among tenants for vacant industrial real estate space in Calgary, says a new report by Colliers International.
The company said the first quarter of 2012 was very active with vacancy falling by 53 basis points from 4.8 per cent at the end of 2011 to 4.27 per cent at the end of March.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Calgary's housing market soars in April
CALGARY ` It was a very busy April for Calgary`s housing market.
According to the Calgary Real Estate Board, overall residential MLS sales in the city of 2,200 for the month were up 26.07 per cent from April 2011 and the average sale price of $429,388 increased by 1.95 per cent from last year.
Carrie Pepper was one of the many caught up in the April activity as she bought a condo in the Thorncliffe-Greenview neighbourhood.
Read the full article here.
CALGARY ` It was a very busy April for Calgary`s housing market.
According to the Calgary Real Estate Board, overall residential MLS sales in the city of 2,200 for the month were up 26.07 per cent from April 2011 and the average sale price of $429,388 increased by 1.95 per cent from last year.
Carrie Pepper was one of the many caught up in the April activity as she bought a condo in the Thorncliffe-Greenview neighbourhood.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
'Loony tunes' make B.C. pipelines a long shot, ex-Bank of Canada boss warns
EDMONTON - The former Governor of the Bank of Canada says it may make more sense to ship Alberta`s bitumen to Eastern Canada, in view of the vocal opposition to two proposed pipeline projects to the West Coast.
`I think it`s going to be difficult, right. You`ve got all the loony tunes in Vancouver who don`t want to see Kinder Morgan`s pipeline expanded,` said David Dodge, in an interview with the Journal.
Read the full article here.
EDMONTON - The former Governor of the Bank of Canada says it may make more sense to ship Alberta`s bitumen to Eastern Canada, in view of the vocal opposition to two proposed pipeline projects to the West Coast.
`I think it`s going to be difficult, right. You`ve got all the loony tunes in Vancouver who don`t want to see Kinder Morgan`s pipeline expanded,` said David Dodge, in an interview with the Journal.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Cheap natural gas can work to Alberta's advantage
EDMONTON - The natural gas market finally showed flickers of life this week, on the heels of a relatively upbeat report from Goldman Sachs.
Natural gas for June delivery closed Friday at $2.19 US per million British thermal units (MMBtu) on the New York Mercantile Exchange, up seven cents on the day.
The previous gas contract for May had slumped to a low of less than $1.91 per MMBtu on April 19th, the lowest near-month contract price in more than a decade.
Read the full article here.
EDMONTON - The natural gas market finally showed flickers of life this week, on the heels of a relatively upbeat report from Goldman Sachs.
Natural gas for June delivery closed Friday at $2.19 US per million British thermal units (MMBtu) on the New York Mercantile Exchange, up seven cents on the day.
The previous gas contract for May had slumped to a low of less than $1.91 per MMBtu on April 19th, the lowest near-month contract price in more than a decade.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Edmonton residential housing market sailing on calm seas
Edmonton, May 2, 2012: According to figures released by the REALTORS Association of Edmonton, there is a sea of calm in the local real estate market. Residential sales through the Multiple Listing Service System in April were up 5.3% from the same month last year but below average for April. There were 1,713 residential sales in April as compared to the 5-year average of 1,940 sales. There were 7,334 residential properties available in inventory at the end of April which is up 7% from last month.
"There is plenty of choice in the market at this time," said REALTORSÂ Association of Edmonton President Doug Singleton. "Single family prices have risen slightly each month this year which is encouraging sellers to list their property." He urged home buyers to remain calm, to confirm their financing arrangements and to study the market with their REALTORÂ. "Of course, when your REALTORÂ shows you the ideal home you should move decisively to make an offer and begin the home buying process in case another buyer is also interested."
Read the full article here.
Edmonton, May 2, 2012: According to figures released by the REALTORS Association of Edmonton, there is a sea of calm in the local real estate market. Residential sales through the Multiple Listing Service System in April were up 5.3% from the same month last year but below average for April. There were 1,713 residential sales in April as compared to the 5-year average of 1,940 sales. There were 7,334 residential properties available in inventory at the end of April which is up 7% from last month.
"There is plenty of choice in the market at this time," said REALTORSÂ Association of Edmonton President Doug Singleton. "Single family prices have risen slightly each month this year which is encouraging sellers to list their property." He urged home buyers to remain calm, to confirm their financing arrangements and to study the market with their REALTORÂ. "Of course, when your REALTORÂ shows you the ideal home you should move decisively to make an offer and begin the home buying process in case another buyer is also interested."
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Provincial land sales down half a billion dollars
CALGARY ` Oil and gas companies have paid western provincial governments half a billion dollars less in sales of drilling rights on Crown land so far in 2012 compared with 2011.
The trend, if it continues, could result in lower than expected income for the provinces, potentially inflating deficits or resulting in the need for higher taxes from other sources.
A study published this week by FirstEnergy Capital Corp. shows that a total of $394 million in bonuses were paid to British Columbia, Alberta, Saskatchewan and Manitoba governments so far in 2012, compared with $930 million in the same period of 2011.
Read the full article here.
CALGARY ` Oil and gas companies have paid western provincial governments half a billion dollars less in sales of drilling rights on Crown land so far in 2012 compared with 2011.
The trend, if it continues, could result in lower than expected income for the provinces, potentially inflating deficits or resulting in the need for higher taxes from other sources.
A study published this week by FirstEnergy Capital Corp. shows that a total of $394 million in bonuses were paid to British Columbia, Alberta, Saskatchewan and Manitoba governments so far in 2012, compared with $930 million in the same period of 2011.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Alberta steps up battle to shed 'dirty oil' image
Oil companies are anteing up valuable patents in a new consortium that aims to find common solutions to environmental problems, as Alberta steps up its battle to shed the `dirty oil` image tied to the oil sands.
The industry is touting its latest initiative, the Canada's Oil Sands Innovation Alliance (COSIA), in which 12 producers have committed to work together on issues such as land, water and air pollution and greenhouse gas emissions.
Read the full article here.
Oil companies are anteing up valuable patents in a new consortium that aims to find common solutions to environmental problems, as Alberta steps up its battle to shed the `dirty oil` image tied to the oil sands.
The industry is touting its latest initiative, the Canada's Oil Sands Innovation Alliance (COSIA), in which 12 producers have committed to work together on issues such as land, water and air pollution and greenhouse gas emissions.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Calgary women accused of posing as landlord to defraud seven would-be renters
A Calgary woman has been charged in relation to an alleged rental scam and police are asking for other victims to come forward.
Police say victims responded to a Kijiji online ad looking for new renters for a residence in the 100 block of Fonda Drive S.E. The landlord identified herself as Jenna Jerome.
Read the full article here.
A Calgary woman has been charged in relation to an alleged rental scam and police are asking for other victims to come forward.
Police say victims responded to a Kijiji online ad looking for new renters for a residence in the 100 block of Fonda Drive S.E. The landlord identified herself as Jenna Jerome.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Canada's lead in energy sector threatened, Atco chief warned
EDMONTON - Provincial and federal political leaders like to talk about how Alberta and Canada are world leaders on the energy scene, says Atco chief executive Nancy Southern.
`But we won`t be there in the future unless we can deliver electricity around the province, move our natural gas around the country and move our bitumen out for export,` she said Thursday.
As CEO of one of Canada`s biggest utilities companies with interests in natural gas, pipelines and electricity, Southern admits growing frustration at the lack of what she considers factual debate around energy issues.
Read the full article here.
EDMONTON - Provincial and federal political leaders like to talk about how Alberta and Canada are world leaders on the energy scene, says Atco chief executive Nancy Southern.
`But we won`t be there in the future unless we can deliver electricity around the province, move our natural gas around the country and move our bitumen out for export,` she said Thursday.
As CEO of one of Canada`s biggest utilities companies with interests in natural gas, pipelines and electricity, Southern admits growing frustration at the lack of what she considers factual debate around energy issues.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Obama comes clean on Keystone
When U.S. president Barack Obama rejected the Keystone XL pipeline proposal last fall, the anti-oil sands lobby called it a victory. They claimed that the rejection was a spectacular blow against the oil sands, and that it would change the world.
The decision to shelve the proposal, gushed Hollywood activist Robert Redford, `represents a victory of historic proportions for people from throughout the pipeline path and all across America who have waged an uphill, years-long fight against one of the most nightmarish fossil fuel projects of our time.`
Even Barack Obama doesn`t believe that nonsense.
Read the full article here.
When U.S. president Barack Obama rejected the Keystone XL pipeline proposal last fall, the anti-oil sands lobby called it a victory. They claimed that the rejection was a spectacular blow against the oil sands, and that it would change the world.
The decision to shelve the proposal, gushed Hollywood activist Robert Redford, `represents a victory of historic proportions for people from throughout the pipeline path and all across America who have waged an uphill, years-long fight against one of the most nightmarish fossil fuel projects of our time.`
Even Barack Obama doesn`t believe that nonsense.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Our future is gas
Before the end of 2005, the U.S. price of natural gas rose above $15 per thousand cubic feet (mcf), nearly 12 times the record low reached in 1995. Production was down by about 8% compared to 2001, news reports speculated about supply shortages, and gas companies were gearing for expanded imports of liquefied natural gas (LNG) from overseas. Six years later, by the second week of April 2012, the market price of U.S. natural gas fell to less than $2 per mcf (to levels not seen since January 2002), nationwide gas extraction in 2011 was nearly 12% above the 2009 level, and record production was expected in 2012, when all storage sites would be filled to capacity. No wonder that gas companies are now planning to export LNG, and that new drilling projects have been shelved in the anticipation of gas glut.
This amazingly abrupt change of gas fortunes has been due to the rising production of shale gas. Shale gas is released by horizontal drilling followed by hydraulic fracturing of the porous rock using proprietary high-pressure mixtures of water and chemicals (the practice now widely known as fracking). Rising consumption of natural gas will eventually make it not only more important than crude oil but the single-most important fossil fuel.
Read the full article here.
Before the end of 2005, the U.S. price of natural gas rose above $15 per thousand cubic feet (mcf), nearly 12 times the record low reached in 1995. Production was down by about 8% compared to 2001, news reports speculated about supply shortages, and gas companies were gearing for expanded imports of liquefied natural gas (LNG) from overseas. Six years later, by the second week of April 2012, the market price of U.S. natural gas fell to less than $2 per mcf (to levels not seen since January 2002), nationwide gas extraction in 2011 was nearly 12% above the 2009 level, and record production was expected in 2012, when all storage sites would be filled to capacity. No wonder that gas companies are now planning to export LNG, and that new drilling projects have been shelved in the anticipation of gas glut.
This amazingly abrupt change of gas fortunes has been due to the rising production of shale gas. Shale gas is released by horizontal drilling followed by hydraulic fracturing of the porous rock using proprietary high-pressure mixtures of water and chemicals (the practice now widely known as fracking). Rising consumption of natural gas will eventually make it not only more important than crude oil but the single-most important fossil fuel.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Energy industry looks to boost Fort McMurray's highway capacity
Canada`s energy industry is examining ways it can build new lanes on a critical stretch of highway that connects the oil sands with the rest of Alberta.
The industry interest in twinning a section of Highway 63 comes as more than 1,500 people in Fort McMurray rallied on Saturday to call for faster investment in a roadway where seven people died in a head-on collision April 27.
Read the full article here.
Canada`s energy industry is examining ways it can build new lanes on a critical stretch of highway that connects the oil sands with the rest of Alberta.
The industry interest in twinning a section of Highway 63 comes as more than 1,500 people in Fort McMurray rallied on Saturday to call for faster investment in a roadway where seven people died in a head-on collision April 27.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Three-day Alberta course fast-tracks workers for the oil patch
SAINT JOHN - Lee Perrin runs a contracting company and owns a few rental properties around the city. Lately, business is down on both fronts.
``There's nothing going on right now,'' he says. ``I was at a house that flooded in the north end the other day. There were seven contractors bidding on the same job.''
Three years ago, Perrin was turning work away. In the years since, his ranks have dropped from 22 employees to five.
Read the full article here.
SAINT JOHN - Lee Perrin runs a contracting company and owns a few rental properties around the city. Lately, business is down on both fronts.
``There's nothing going on right now,'' he says. ``I was at a house that flooded in the north end the other day. There were seven contractors bidding on the same job.''
Three years ago, Perrin was turning work away. In the years since, his ranks have dropped from 22 employees to five.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Calgary region building permits soar
CALGARY ` The value of building permits in March in the Calgary region soared year-over-year, according to the latest data by Statistics Canada.
The federal agency reported Monday that permits during the month were $457.7 million in the Calgary census metropolitan area, an increase of 33.3 per cent from March 2011 and up 2.9 per cent from February.
In Alberta, permits totalled $1.2 billion, representing a monthly hike of 5.6 per cent and an annual gain of 37.5 per cent.
Read the full article here.
CALGARY ` The value of building permits in March in the Calgary region soared year-over-year, according to the latest data by Statistics Canada.
The federal agency reported Monday that permits during the month were $457.7 million in the Calgary census metropolitan area, an increase of 33.3 per cent from March 2011 and up 2.9 per cent from February.
In Alberta, permits totalled $1.2 billion, representing a monthly hike of 5.6 per cent and an annual gain of 37.5 per cent.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Oil companies rush to Bakken-fueled boom
In the overheated Williston oilpatch, no one asks where you live.
Instead, they ask, "Where are you staying?" and then, "Where are you from?"
That's because the thousands of new residents in what was a sleepy little agricultural town of 12,000 or so three years ago don't usually have a permanent place to live - they spend their off-time during two weeks of 12-hour workdays in "mancamps" or in RVs or company-owned condos, then leave for the next 14 days to their real homes in Texas or Louisiana or Wisconsin.
Read the full article here.
In the overheated Williston oilpatch, no one asks where you live.
Instead, they ask, "Where are you staying?" and then, "Where are you from?"
That's because the thousands of new residents in what was a sleepy little agricultural town of 12,000 or so three years ago don't usually have a permanent place to live - they spend their off-time during two weeks of 12-hour workdays in "mancamps" or in RVs or company-owned condos, then leave for the next 14 days to their real homes in Texas or Louisiana or Wisconsin.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Down under recruiters come trolling again for Albertans
CALGARY ` As snow and rain pelted Calgary, representatives from companies in Australia, New Zealand and Peru tried to woo the city`s skilled workers to jobs in warmer climes.
`A cold day in Sydney is 17 degrees,` said Rupert Merrick, the director of international operations for Working In Ltd., the firm behind a recruitment expo held Saturday at the Telus Convention Centre. After two successful hiring sprees last year, The Energy, Mining and Engineering International Jobs Expo returned to Calgary with a dozen major industry players in an effort to combat massive labour shortages abroad.
Read the full article here.
CALGARY ` As snow and rain pelted Calgary, representatives from companies in Australia, New Zealand and Peru tried to woo the city`s skilled workers to jobs in warmer climes.
`A cold day in Sydney is 17 degrees,` said Rupert Merrick, the director of international operations for Working In Ltd., the firm behind a recruitment expo held Saturday at the Telus Convention Centre. After two successful hiring sprees last year, The Energy, Mining and Engineering International Jobs Expo returned to Calgary with a dozen major industry players in an effort to combat massive labour shortages abroad.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Alberta lead provincial growth in 2011
OTTAWA - Statistics Canada says Alberta led the provinces in economic growth in 2011, followed closely by Saskatchewan.
The Canadian economy as a whole expanded 2.6 per cent in 2011, slowing somewhat after a 3.4 per cent expansion in 2010.
But in Alberta, the economy picked up speed. It surged 5.2 per cent last year, after a more tepid 3.3 per cent expansion a year earlier, buoyed by high energy prices that encouraged extraction and exploration in the oil and gas patch.
Read the full article here.
OTTAWA - Statistics Canada says Alberta led the provinces in economic growth in 2011, followed closely by Saskatchewan.
The Canadian economy as a whole expanded 2.6 per cent in 2011, slowing somewhat after a 3.4 per cent expansion in 2010.
But in Alberta, the economy picked up speed. It surged 5.2 per cent last year, after a more tepid 3.3 per cent expansion a year earlier, buoyed by high energy prices that encouraged extraction and exploration in the oil and gas patch.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
TransCanada files new Keystone XL pipeline permit application
As expected, Calgary-based TransCanada has filed a new application seeking a Presidential permit for a revised Keystone XL pipeline.
Trans anada is requesting permission to proceed with the pipeline from the Canada / US border to Steele City, Nebraska. A re-jigging that will keep the Keystone XL away from environmentally sensitive sand hills in Nebraska will be added to the application once a final revised route is determined.
Read the full article here.
As expected, Calgary-based TransCanada has filed a new application seeking a Presidential permit for a revised Keystone XL pipeline.
Trans anada is requesting permission to proceed with the pipeline from the Canada / US border to Steele City, Nebraska. A re-jigging that will keep the Keystone XL away from environmentally sensitive sand hills in Nebraska will be added to the application once a final revised route is determined.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Canada is world's biggest oil loser by buying high, selling low
Canada buys high and sells low when it comes to crude oil, costing the world`s 10th largest economy billions in lost revenue as it expands production from one of the world`s largest energy deposits.
The gap between Alberta`s exported Western Canada Select and Brent oil imported into Ontario and Quebec was about $30.50 a barrel yesterday, and that difference is creating a drag on growth according to Bank of Canada Governor Mark Carney.
Annual losses of about $19-billion may persist for a couple of years amid a lack of ready alternatives for oil sands bitumen. TransCanada Corp.`s Keystone XL pipeline to U.S. Gulf coast refineries was delayed by President Barack Obama while Enbridge Inc.`s proposed Northern Gateway project to the west coast faces environmental hearings and growing opposition in British Columbia. There are no advanced proposals to ship oil from Alberta east to the rest of Canada.
Read the full article here.
Canada buys high and sells low when it comes to crude oil, costing the world`s 10th largest economy billions in lost revenue as it expands production from one of the world`s largest energy deposits.
The gap between Alberta`s exported Western Canada Select and Brent oil imported into Ontario and Quebec was about $30.50 a barrel yesterday, and that difference is creating a drag on growth according to Bank of Canada Governor Mark Carney.
Annual losses of about $19-billion may persist for a couple of years amid a lack of ready alternatives for oil sands bitumen. TransCanada Corp.`s Keystone XL pipeline to U.S. Gulf coast refineries was delayed by President Barack Obama while Enbridge Inc.`s proposed Northern Gateway project to the west coast faces environmental hearings and growing opposition in British Columbia. There are no advanced proposals to ship oil from Alberta east to the rest of Canada.
Read the full article here.