November 2013 Alberta Economic Fundamentals
- Thread starter Ally
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Ring road deal may be a boon to Calgary real estate, observers say
CALGARY - The new southwest portion of the ring road is expected to be a boon for residential real estate near the proposed roadway.
`Transportation accessibility is key to location ` which is everything in real estate. And the Ring Road is all about transportation accessibility: access to downtown, other parts of Calgary, the mountains,` said Scott Bollinger, broker for the ComFree Commensense Network.
Read the full article here.
CALGARY - The new southwest portion of the ring road is expected to be a boon for residential real estate near the proposed roadway.
`Transportation accessibility is key to location ` which is everything in real estate. And the Ring Road is all about transportation accessibility: access to downtown, other parts of Calgary, the mountains,` said Scott Bollinger, broker for the ComFree Commensense Network.
Read the full article here.
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Calgary real estate market soaring with sales and price hikes
Calgary`s resale housing market continued to soar in October with strong year-over-year hikes in both sales and prices.
According to the Calgary Real Estate Board, MLS sales of 1,953 for the month were up 17.72 per cent from a year ago as the average sale price rose five per cent to $458,876 while the median price saw an increase of 5.96 per cent to $409,000.
Read the full article here.
Calgary`s resale housing market continued to soar in October with strong year-over-year hikes in both sales and prices.
According to the Calgary Real Estate Board, MLS sales of 1,953 for the month were up 17.72 per cent from a year ago as the average sale price rose five per cent to $458,876 while the median price saw an increase of 5.96 per cent to $409,000.
Read the full article here.
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Shell to move ahead with Carmon Creek thermal oilsands project
CALGARY ` Royal Dutch Shell says it`s moving ahead with its Carmon Creek oilsands project in northern Alberta.
The steam-driven project in the Peace River region is expected to produce 80,000 barrels of oil per day.
Read the full article here.
CALGARY ` Royal Dutch Shell says it`s moving ahead with its Carmon Creek oilsands project in northern Alberta.
The steam-driven project in the Peace River region is expected to produce 80,000 barrels of oil per day.
Read the full article here.
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Fort Hills gets $13.5 billion go-ahead from partners
The Fort Hills oil sands project 90 km north of Fort McMurray, AB, has been in the works for over a decade, but on Oct. 31 the partners announced that they will commit $13.5 billion to building it with a start-up date set for the end of 2017.
The costs ` as well as the profits ` will be shared by the joint venture partners Suncor Energy (40.8%), Total E&P Canada (39.2%) and Teck Resources. Suncor is the project builder and operator by virtue of its many decades of experience in the Alberta oil sands.
Read the full article here.
The Fort Hills oil sands project 90 km north of Fort McMurray, AB, has been in the works for over a decade, but on Oct. 31 the partners announced that they will commit $13.5 billion to building it with a start-up date set for the end of 2017.
The costs ` as well as the profits ` will be shared by the joint venture partners Suncor Energy (40.8%), Total E&P Canada (39.2%) and Teck Resources. Suncor is the project builder and operator by virtue of its many decades of experience in the Alberta oil sands.
Read the full article here.
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Anti-Alberta oil sands campaign heavy on funding, light on facts
Anti-pipeline activists and the media, including ScienceDaily, a credible science website, are touting a small air quality study funded by the Tides Foundation and authored by Isobel Simpson et al. at the University of California. `Levels of contaminants higher than in some of the world`s most polluted cities have been found downwind of Canada`s largest oil, gas and tar sands processing zone,` warns ScienceDaily, based on Simpson`s work in northern Alberta.
`This paper characterizes ambient levels of 77 volatile organic compounds in the region using high-precision measurements,` say the authors, who collected no air samples directly at industrial facilities and no primary health data before concluding, unequivocally, `Emissions from these industries affect local air quality and human health.`
Read the full article here.
Anti-pipeline activists and the media, including ScienceDaily, a credible science website, are touting a small air quality study funded by the Tides Foundation and authored by Isobel Simpson et al. at the University of California. `Levels of contaminants higher than in some of the world`s most polluted cities have been found downwind of Canada`s largest oil, gas and tar sands processing zone,` warns ScienceDaily, based on Simpson`s work in northern Alberta.
`This paper characterizes ambient levels of 77 volatile organic compounds in the region using high-precision measurements,` say the authors, who collected no air samples directly at industrial facilities and no primary health data before concluding, unequivocally, `Emissions from these industries affect local air quality and human health.`
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Nenshi backs off push to ease limits on secondary suites in favor of broader affordable housing plan
With a now-smaller bloc of councillors in favour of full eradication of zoning limits on secondary suites, Mayor Naheed Nenshi said he`ll make suite reform a mere plank in a broader housing program.
For the past three years and before he was mayor, Nenshi made legalizing basement suites in all neighbourhoods one of his most urgent and passionate priorities ` but he lacked the votes to get what he wanted.
Read the full article here.
With a now-smaller bloc of councillors in favour of full eradication of zoning limits on secondary suites, Mayor Naheed Nenshi said he`ll make suite reform a mere plank in a broader housing program.
For the past three years and before he was mayor, Nenshi made legalizing basement suites in all neighbourhoods one of his most urgent and passionate priorities ` but he lacked the votes to get what he wanted.
Read the full article here.
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71-store Edmontonian would dominate city skyline
As an impending construction boom promises to push the skyline of this city up, one Edmontonian could be standing particularly tall.
A 71-storey building, dubbed The Edmontonian, is in the early planning stages for a parcel of land at 10525 101st St. If the project is built to its current specifications, at 278 metres it would be the tallest tower in the West and second tallest in the country, after Toronto`s 298-metre First Canadian Place.
Read the full article here.
As an impending construction boom promises to push the skyline of this city up, one Edmontonian could be standing particularly tall.
A 71-storey building, dubbed The Edmontonian, is in the early planning stages for a parcel of land at 10525 101st St. If the project is built to its current specifications, at 278 metres it would be the tallest tower in the West and second tallest in the country, after Toronto`s 298-metre First Canadian Place.
Read the full article here.
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Redford 'very optimistic' Obama will approve Keystone XL pipeline
Alberta Premier Alison Redford says she is `very optimistic` that U.S President Barack Obama will ultimately approve the Keystone XL pipeline, and is headed to Washington next week to continue efforts to promote the project to stakeholders south of the border.
Redford told CTV`s Question Period that although the decision to approve the project rests solely with Obama, she continues to tout the project to U.S. lawmakers and other groups who are `involved in the conversation.`
Read the full article here.
Alberta Premier Alison Redford says she is `very optimistic` that U.S President Barack Obama will ultimately approve the Keystone XL pipeline, and is headed to Washington next week to continue efforts to promote the project to stakeholders south of the border.
Redford told CTV`s Question Period that although the decision to approve the project rests solely with Obama, she continues to tout the project to U.S. lawmakers and other groups who are `involved in the conversation.`
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Tallest building in Western Canada begins construction in Calgary
Construction has begun on what will be the tallest tower in Western Canada.
A ground-breaking ceremony was held Wednesday morning for the Brookfield Place Calgary east tower, which is being developed on the site of the old Calgary Herald building in downtown Calgary.
Read the full article here.
Construction has begun on what will be the tallest tower in Western Canada.
A ground-breaking ceremony was held Wednesday morning for the Brookfield Place Calgary east tower, which is being developed on the site of the old Calgary Herald building in downtown Calgary.
Read the full article here.
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What's the future of Alberta's real estate market?
For years, it seems, there`s been talk of an imminent correction ` or an outright crash ` in the Canadian real estate market. And yet, for all the talk and all of the moves made by the federal government to make home ownership more expensive, home prices in almost every major Canadian market continue to march upwards (much to everyone`s relief except, perhaps, former MP and noted housing bear Garth Turner). That`s been particularly true in Alberta, where home prices appreciated nearly nine per cent on a year-over-year basis in Calgary and 3.8 per cent in Edmonton in the month of August.
Read the full article here.
For years, it seems, there`s been talk of an imminent correction ` or an outright crash ` in the Canadian real estate market. And yet, for all the talk and all of the moves made by the federal government to make home ownership more expensive, home prices in almost every major Canadian market continue to march upwards (much to everyone`s relief except, perhaps, former MP and noted housing bear Garth Turner). That`s been particularly true in Alberta, where home prices appreciated nearly nine per cent on a year-over-year basis in Calgary and 3.8 per cent in Edmonton in the month of August.
Read the full article here.
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There's no slowing oilsands development
Despite unforgiving economics, unrelenting criticism and unprecedented opposition, the development of Alberta's oilsands appears to be an unstoppable force.
Within the span of 12 hours late Wednesday to early Thursday, the consortium of Suncor Energy, Teck Resources and French giant Total confirmed they will go ahead with the $13.5-billion, 180,000-barrel-per-day Fort Hills mining project while Royal Dutch Shell announced it will proceed with an 80,000-bpd in situ project at Carmon Creek.
Read the full article here.
Despite unforgiving economics, unrelenting criticism and unprecedented opposition, the development of Alberta's oilsands appears to be an unstoppable force.
Within the span of 12 hours late Wednesday to early Thursday, the consortium of Suncor Energy, Teck Resources and French giant Total confirmed they will go ahead with the $13.5-billion, 180,000-barrel-per-day Fort Hills mining project while Royal Dutch Shell announced it will proceed with an 80,000-bpd in situ project at Carmon Creek.
Read the full article here.
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Calgary's Mainstreet Equity gambles on Edmonton
On its own, it was a simple real estate transaction between buyer and seller. But the purchase of City Square Tower, a 28-storey residential building on 104 Avenue in downtown Edmonton, by Calgary`s Mainstreet Equity for $40 million in early June, wasn`t on its own. Instead, it was the culmination of a strategy that the company has been pursuing since 2007` one that saw it scoop up 77 properties containing 2,218 units in an area bounded by the airport lands to the north, Jasper Avenue to the south, 124 Street to the west and 97 Street to the east. And it`s about to pay off in a big, big way.
Read the full article here.
On its own, it was a simple real estate transaction between buyer and seller. But the purchase of City Square Tower, a 28-storey residential building on 104 Avenue in downtown Edmonton, by Calgary`s Mainstreet Equity for $40 million in early June, wasn`t on its own. Instead, it was the culmination of a strategy that the company has been pursuing since 2007` one that saw it scoop up 77 properties containing 2,218 units in an area bounded by the airport lands to the north, Jasper Avenue to the south, 124 Street to the west and 97 Street to the east. And it`s about to pay off in a big, big way.
Read the full article here.
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Wary OPEC comes to terms with shale gale
Demand for OPEC crude could fall by a million barrels per day within five years, as North American tight oil chips away at the group`s influence on global markets.
OPEC, which has long dismissed North America`s tight oil production surge as marginal, said in its annual report Thursday that shale`s impact could be `significant,` and the combination of production from North America and other rivals would reduce demand for OPEC crude to 29.2 million barrels per day in 2018, compared to 30.3 million bpd today.
Read the full article here.
Demand for OPEC crude could fall by a million barrels per day within five years, as North American tight oil chips away at the group`s influence on global markets.
OPEC, which has long dismissed North America`s tight oil production surge as marginal, said in its annual report Thursday that shale`s impact could be `significant,` and the combination of production from North America and other rivals would reduce demand for OPEC crude to 29.2 million barrels per day in 2018, compared to 30.3 million bpd today.
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Canadian Natural Resources big bet on heavy oil is paying off
Canadian Natural Resources Ltd. remained steadfast in recent years in backing long-life Canadian oil projects and in believing in a recovery of Canadian oil prices, despite persistent discounts caused by tight pipeline capacity. It was proven right, and Thursday the Canadian oil and gas independent said its profit for the third quarter tripled on record production to $1.17-billion and boosted its dividend by 60%.
Read the full article here.
Canadian Natural Resources Ltd. remained steadfast in recent years in backing long-life Canadian oil projects and in believing in a recovery of Canadian oil prices, despite persistent discounts caused by tight pipeline capacity. It was proven right, and Thursday the Canadian oil and gas independent said its profit for the third quarter tripled on record production to $1.17-billion and boosted its dividend by 60%.
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Total SA seeking to upsize flagship Joslyn oil sands mine in Alberta
CALGARY ` France`s Total SA is upsizing its flagship Joslyn oil sands mine in northern Alberta by at least 50% in a bid to spread costs thin over larger volumes, the chief executive officer of its Canadian arm says.
Read the full article here.
CALGARY ` France`s Total SA is upsizing its flagship Joslyn oil sands mine in northern Alberta by at least 50% in a bid to spread costs thin over larger volumes, the chief executive officer of its Canadian arm says.
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Industrial Heartland plant home to innovative hydrogren-producing technology
FORT SASKATCHEWAN - An innovative pilot plant near Fort Saskatchewan is producing hydrogen ` the key to powering fuel cells and upgrading bitumen ` with frontier technology brought from a U.S. government laboratory in Idaho.
`I look at this as the holy grail, something everybody has been seeking, a way to produce hydrogen from any carbon. And we are doing it,` said Neil Camarta, chief executive of Western Hydrogen, the private firm he owns with partner Guy Turcotte.
Read the full article here.
FORT SASKATCHEWAN - An innovative pilot plant near Fort Saskatchewan is producing hydrogen ` the key to powering fuel cells and upgrading bitumen ` with frontier technology brought from a U.S. government laboratory in Idaho.
`I look at this as the holy grail, something everybody has been seeking, a way to produce hydrogen from any carbon. And we are doing it,` said Neil Camarta, chief executive of Western Hydrogen, the private firm he owns with partner Guy Turcotte.
Read the full article here.
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Calgary's oil boom threatens to bust the middle class
There`s been no lack of work.
When Necole Hines moved to Calgary from Toronto nine years ago, she was offered teller positions at four different banks. When she got laid off from a recent job at a stock photography company, she easily found another in sales and administration at a magazine.
Read the full article here.
There`s been no lack of work.
When Necole Hines moved to Calgary from Toronto nine years ago, she was offered teller positions at four different banks. When she got laid off from a recent job at a stock photography company, she easily found another in sales and administration at a magazine.
Read the full article here.
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Calgary top-rated market for overall real estate prospects
CALGARY - For the second year in a row, Calgary is the top-rated market in Canada for overall real estate prospects, according to a survey of industry experts.
Calgary kept the top spot with the highest ratings for prospects in three categories - investment, development and homebuilding, said the Emerging Trends in Real Estate report by PwC and the Urban Land Institute.
Read the full article here.
CALGARY - For the second year in a row, Calgary is the top-rated market in Canada for overall real estate prospects, according to a survey of industry experts.
Calgary kept the top spot with the highest ratings for prospects in three categories - investment, development and homebuilding, said the Emerging Trends in Real Estate report by PwC and the Urban Land Institute.
Read the full article here.
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Montreal Board of Trade CEO confident eastern pipeline proposals will go ahead
CALGARY - The head of Montreal`s Board of Trade joined with Suncor CEO Steve Williams on Tuesday to urge co-operation between Quebec and Alberta on energy issues, including proposed pipeline projects like Enbridge`s Line 9 reversal and TransCanada`s Energy East.
Michel Leblanc, CEO of the Board of Trade of Metropolitan Montreal, said he is `very, very confident` that both projects will go ahead ` in spite of the fact the Line 9 regulatory hearings have been interrupted by protesters in Montreal and the Energy East proposal has not yet been endorsed by premier Pauline Marois.
Read the full article here.
CALGARY - The head of Montreal`s Board of Trade joined with Suncor CEO Steve Williams on Tuesday to urge co-operation between Quebec and Alberta on energy issues, including proposed pipeline projects like Enbridge`s Line 9 reversal and TransCanada`s Energy East.
Michel Leblanc, CEO of the Board of Trade of Metropolitan Montreal, said he is `very, very confident` that both projects will go ahead ` in spite of the fact the Line 9 regulatory hearings have been interrupted by protesters in Montreal and the Energy East proposal has not yet been endorsed by premier Pauline Marois.
Read the full article here.