Alberta most, Quebec least, open to interprovincial trade

Report says barriers cost between $3,500 and $9,200 per Canadian household every year

Alberta most, Quebec least, open to interprovincial tradeAlberta has the fewest obstacles to trade within Canadian borders, according to a report released on Thursday by the MEI (Montreal Economic Institute) and the Canadian Constitution Foundation. The Internal Trade Provincial Leadership Index developed by Mark Milke ranks the provinces and territories according to their number of barriers to trade, as measured by exceptions…

Oil drilling industry pressures Ottawa

Industry blames ‘punitive’ federal policies and regulations for its struggles

Oil drilling industry pressures OttawaFollowing the federal election in October, the sentiment toward Canadian oil and gas is nearing all-time lows, says a report by the Canadian Association of Oilwell Drilling Contractors. The association says that since 2017 the industry has lost an estimated $30 billion in foreign capital, and companies continue layoffs and relocation efforts. It says its…

Keeping young, ambitious and talented people in Alberta

There’s already a strong engineering, finance and transportation capability in the province. We need to build on that in the new economy

Keeping young, ambitious and talented people in AlbertaA new study related to abandoned coal mining in the United Kingdom and the movement of displaced workers offers insight for Albertans. Not many of us read the online peer reviewed academic journal Nature Human Behaviour. That’s why occasionally perusing the back pages of The Economist makes sense. The Oct. 26, 2019, Economist reviews an…

Canadian energy production on the decline

StatsCan said crude oil delivered by pipelines to Canadian refineries was up 9.1% to 8.6 million cubic metres

Canadian energy production on the declineEnergy production in Canada declined in several sectors in August compared with the same month in 2018, according to Statistics Canada. The federal agency reported on Monday that production of crude oil and equivalent products (-2.4 per cent), natural gas (-4.8 per cent) and coal (-5.2 per cent), as well as electricity generation (-3.6 per…

Canadian drilling forecast continues to cool

Capital, companies, equipment and crews are leaving Canada for better opportunities, with the U.S. an easy choice: PSAC

Canadian drilling forecast continues to coolThe Petroleum Services Association of Canada has decreased its forecast for the number of wells expected to be drilled across Canada for this year. In its third update to its 2019 Canadian Drilling Activity Forecast, PSAC revised its number from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC now projects 2,425 wells to be…

Imperial Oil production highest in 30 years

Net income down in the third quarter but company returned $512 million to shareholders through share purchases and dividends

Imperial Oil production highest in 30 yearsCalgary-based Imperial Oil announced on Friday that it had net income of $424 million in its third quarter, down from $749 million a year ago. But the company also experienced its highest third quarter production in 30 years at 407,000 gross oil-equivalent barrels per day. The company also returned $512 million to shareholders through share…

Alberta small business confidence still dipping: CFIB

Alberta small business confidence still dipping: CFIBAlberta small business confidence took another slight dip in October with the Canadian Federation of Independent Business reporting that its latest monthly Business Barometer was down half a point in the province. The decline puts Alberta’s Business Barometer at 53.6 points, the third lowest in the country, and a bit behind the national indicator of…

Alberta’s weekly earnings average still tops

Employment declines in the high-paying construction and oil and gas sectors moderated earnings growth in the province: StatsCan

Alberta’s weekly earnings average still topsBy Troy Media Alberta continues to lead all provinces with the highest average weekly earnings for non-farm payroll employees. Statistics Canada reported on Thursday that earnings rose in August to $1,170.50, which was up 0.9 per cent from a year ago. “The largest contributors were the health care and social assistance and transportation and warehousing…

Suncor quarterly net earnings top $1 billion

Total oil sands production during the third quarter increased to 670,000 barrels per day

Suncor quarterly net earnings top $1 billionCalgary-based energy giant Suncor is reporting net earnings of $1.035 billion ($0.67 per common share) in the third quarter of this year. That’s down from $1.812 billion ($1.12 per common share) in the corresponding quarter in the prior year. Funds from operations were $2.675 billion ($1.72 per common share) in the third quarter compared to…
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