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How $40 oil would impact Canada’s provinces What does Canada’s economy look like with oil prices at $40 a barrel? Certainly it won’t be the energy superpower envisioned by Prime Minister Stephen Harper. If $40 a barrel still seems a ways off, consider that the benchmark price for oil sands crude is already trading in that price range. What’s more, if production from high-cost sources isn’t withdrawn from an oversupplied market, oil prices may soon be trading even lower. The first thing Canadians should recognize about the new world order for oil prices is that – contrary to what we’re being told by our federal government – the economy is no longer in dire need of any new pipelines. For that matter, it can live without the new rail terminals being built to move oil as well. Yesterday’s transportation bottlenecks aren’t relevant in today’s marketplace. At current prices there won’t be any massive expansion of oil sands production because those projects, which would produce some of the world’s most expensive crude, no longer make economic sense. The recent spate of project cancellations by global oil giants – Total’s Joslyn mine, Shell’s at Pierre River, and Statoil’s Corner oil sands venture – is only the beginning. As oil prices grind lower, we can expect to hear about tens of billions of dollars of proposed spending that will be cancelled or indefinitely postponed. Not long ago, the grand vision for the oil sands saw production doubling over the next 20 years. Now that dream is in the rear-view mirror. Rather than expanding production, the industry’s new economic imperative will be attempting to cut costs in a bid to maintain current output. With the exception of oil sands players themselves, no one will feel those project cancellations more acutely than new Alberta Premier Jim Prentice. His province’s budget is beholden to the gusher of bitumen royalties that will no longer be accruing as planned. He could choose to stay the course on spending, as former Premier Don Getty did when oil prices plunged in the 1980s, in hopes that a price recovery will materialize. That option, as Getty discovered, would soon see Alberta’s budget surplus morph into spiralling deficits. The province’s balance sheet wasn’t cleaned up until the axe-wielding Ralph Klein took over. In his first term, Klein slashed spending on social services by 30 per cent, cut the education budget by 16 per cent and lowered health care expenditures by nearly 20 per cent. Of course, falling oil prices are a concern for much more than just Alberta’s budget position. Real estate values also face more risk, particularly downtown Calgary office space. For oil sands operators, staying alive in a low price environment won’t just mean cancelling expansion plans and cutting jobs in the field. Head office positions are also destined for the chopping block, which is bad news for the shiny new towers going up in Calgary’s commercial core. If plunging oil prices are writing a boom-to-bust story in provinces such as Alberta, Saskatchewan and Newfoundland, the narrative will be much different in other parts of the country. Ontario’s long-depressed economy is already beginning to find a second wind, recently leading the country in economic growth. And the engine is just beginning to rev up. As the largest oil-consuming province in the country, lower oil prices put more money back into the pockets of Ontarians, while also juicing the buying power of its most important trading partner. Ontario’s trade leverage with the U.S. is set to become even more meaningful as the Canadian dollar continues to slide along with the country’s rapidly fading oil prospects. Just as the oil sands boom turned Canada’s currency into a petrodollar, pushing it above parity with the greenback, the loonie is already tumbling in the wake of lower oil prices. And it shouldn’t expect any help from the Bank of Canada, which continues to signal that it’s willing to live with a much lower exchange rate in the face of a strengthening U.S. dollar. A loonie at 75 cents means GM and Ford may once again consider Ontario an attractive place to make cars and trucks. Even if they don’t, you can bet others will. With the loonie’s value falling to three quarters of where it was only a few years ago, we’ll start seeing Ontario, as well as other regions of the country, start to regain some of the hundreds of thousands of manufacturing jobs that were lost in the last decade amid a severely overvalued currency. For the Canadian economy as a whole, much is about to change, while much will also remain the same. Once again, oil will largely define the fault lines that separate the haves from the have-nots (or at least the growing from the stagnating). But at $40 oil, it’s the consuming provinces that will drive economic growth. Rather than oil flowing east through new pipelines, jobs and investment will be heading in that direction instead. http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/how-40-oil-would-impact-canadas-provinces/article22288570/
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Ça donne le goût de voir un projet similaire ici à Montréal. Markthal Rotterdam, the covered food market and housing development shaped like a giant arch by Dutch architects MVRDV, has officially opened today after five years of construction (+ slideshow). The Netherlands' first covered market is located in Rotterdam's city centre and has space for 96 fresh produce stalls and 20 hospitality and retail units on the lower two floors... dezeen.com
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Read More There are currently no phones on the market that use the 700 MHz band. It will be interesting to see if Videotron puts together an agreement with a US mobile provider to reduce roaming fees, just like WIND did for an extra $15/month* unlimited roaming in the US. If Videotron does come out with an interesting plan to compete against Rogers/Fido, Telus and Bell. I might as well switch. It would be nice if Videotron would have a plan that would match WIND or Mobilicity. Another thing that I suspected years ago, Videotron would buy WIND and Mobilicity to also increase their footprint (it might still happen but who knows). * $65/month - Unlimited calls within Canada/US, Unlimited Data within Canada/US, Unlimited SMS within Canada/US + Voicemail / Caller ID Videotron has a similar plan but you can't roam in the US/Canada but it is $72/month with 6GB of data. I did find something online talking about the 700 MHz upper and lower band.
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http://www.montrealgazette.com/travel/this+architectural/6201759/story.html
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http://www.theglobeandmail.com/report-on-business/ssq-financial-buys-intact-unit/article2180067/ http://en.wikipedia.org/wiki/Intact_Financial It didn't take long for it to change hands, yet again.
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Canada’s first parliament building to be unearthed in Montreal
un sujet a posté jesseps dans L'actualité
(Courtesy of The Montreal Gazette) Great read. I was wondering what was going on. Time to bring the Capital of Canada back to Montreal and make the Capital of Quebec in Montreal! As Obama said "Yes, we can!" -
LA Metro picks up more natural gas buses
un sujet a posté mtlurb dans Urbanisme, architecture et technologies urbaines
The 200 compressed natural gas (CNG) buses acquired in 2003 by the Los Angeles Metropolitan Transportation Authority (LA Metro) have worked out so well that LA Metro is hiring 96 more. The Cummins Westport vehicles, which run 20 feet longer than traditional city buses and bring 30-percent more power to the table (while claiming bragging rights to low emissions) use a 6-cylinder, 8.9L CWI L Gas Plus CNG mill with 320 hp. Perfect for the city, the buses help LA Metro cash in with lower operating costs, better performance and reduced emissions. http://www.autoblog.com/2006/03/30/la-metro-picks-up-more-natural-gas-buses/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+weblogsinc/autoblog+(Autoblog) -
(Courtesy of CBC News) How about stronger sentences? You get caught you get a huge fine. Second time you get caught your car gets ceased and auctioned off and you lose your license for life. If you ended up killing someone, you die in prison! WELL WILL THIS DAMN PROVINCE AND COUNTRY DO THIS!
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Quebec lags in IT spending Slowest growth. Ontario has highest investment per worker ERIC BEAUCHESNE, Canwest News Service Published: 8 hours ago Ontario and Alberta lead the other provinces in investment in information and communications technology per worker, which is increasingly seen as a key to boosting Canada's lagging productivity performance. In contrast, New Brunswick and British Columbia have invested the least in productivity-enhancing computers and telecommunications equipment and software, and Quebec's growth in such spending is the lowest among the provinces. Those are the findings of a report by the Centre for the Study of Living Standards released this week in the wake of news that Canada has suffered its longest slide in productivity in nearly 20 years, leaving output per hour worked here further behind that in the U.S., its main trading partner and competitor. The report noted that other studies have found that Canadian investment in information and communications technology, like Canadian productivity growth, lags that of the U.S. The focus of the Ottawa-based think tank's latest study, however, is on the varying levels of such investment within Canada. This year has been the first published breakdown by Statistics Canada of such investment by province. "Many factors affect productivity but ICT investment is a key one," economist Andrew Sharpe, the report's author and head of the research firm said in an interview. For example, the lower level of productivity in most of Atlantic Canada compared with Ontario has been linked to lower levels of ICT investment in Atlantic Canada, he said. Important ICT investment disparities exist, only some of which can be explained by the industrial makeup of the provinces, it said. All provinces have experienced strong growth in ICT investment this decade, led by Newfoundland with increases of nearly 15 per cent per year, almost double that in Quebec which had the weakest growth in such investment at 8.4 per cent. However, the actual level of investment per worker in 2007 varied widely. "These disparities ... may stem from many reasons: Lower levels of wealth, a lack of investment-friendly policies, policies favouring investment in other asset types or industrial structure. "Yet, the significant differences in ICT investment between provinces suggests that policy differences may be important in driving ICT investment," the report concluded. Provincial Breakdown Information and communications technology spending per worker: Ontario $3,870 Alberta $3,722 Canada $3,353 Saskatchewan $3,050 Quebec $2,953 Prince Edward Island $2,935 Newfoundland $2,765 Nova Scotia $2,716 Manitoba $2,688 British Columbia $2,674 New Brunswick $2,445 Centre for the Study of Living Standards
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Montreal is 39th (GDP: USD$120B GDP). Expected to be 47th in 2050 (GDP: USD$180B) 2005: http://www.citymayors.com/statistics/richest-cities-2005.html 2020: http://www.citymayors.com/statistics/richest-cities-2020.html The world's richest cities by personal net earnings in 2008 (per capita) This survey performed by UBS puts New York at "100 level" and compares cities as having net earnings as how much higher or how much lower. Montreal fared reasonably well in the world at 21st position (Toronto 19th). http://www.citymayors.com/economics/richest_cities.html The world's richest cities by purchasing power in 2008 (per capita) This survey performed by UBS puts New York at "100 level" and compares cities as having purchasing power as how much higher or how much lower. Montreal fared really, and ranked 18th position in the world (Toronto 15th). http://www.citymayors.com/economics/usb-purchasing-power.html
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Calgary's homeless population balloons As thousands of migrants have poured into Calgary, housing costs spiralled out of the range for many of those at the lower end of the income spectrum.Dean Bicknell/Canwest News ServiceAs thousands of migrants have poured into Calgary, housing costs spiralled out of the range for many of those at the lower end of the income spectrum. Canwest News Service Published: Wednesday, July 16, 2008 CALGARY -- Calgary's homeless population has reached more than 4,000 - an increase of 18.2% since 2006, according to this year's homeless count. As of May 14, there were 4,060 homeless people in Calgary. Officials cannot explain it but the rate of homeless families jumped dramatically to 197 from 145 in 2006 -- an increase of 36%. Calgary in many ways has been a victim of its own success. As thousands of migrants poured into the city over the past number of years, housing costs spiralled out of the range for many of those at the lower end of the income spectrum. Alberta does not have any traditional rent controls. The average rent for a two-bedroom unit in Calgary is now $1,100. Many of Calgary's homeless are employed - as many as 60% staying at the downtown Mustard Seed Street Ministry, said operations manager Floyd Perras. Mike Nault, 40, who hails from Winnipeg, said he has been living on Calgary's streets with his girlfriend, Debbie Reid, for eight months. "The stress level of being on the street is just phenomenal," said Mr. Nault, who regularly works temporary construction jobs. Ms. Reid said she drinks up to two dozen beers a day because it is "depressing" being homeless. "You turn to self-medication." Civic and business leaders have come up with a 10-year plan to end homelessness. The province has followed up with tens of millions of dollars more for affordable housing and the creation of a Secretariat for Action on Homelessness. http://www.nationalpost.com/news/story.html?id=659002
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(Courtesy of CBC News)
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I was reading by 2012 the corporate taxes in Canada will be down to 15% plus add the 9% for Quebec (currently), it be 24% for corporate taxes. I honestly can see more businesses moving from the US here. From what I am getting off a site right now, here in Quebec the Corporate tax is 32.02%. Which is slightly lower then most states. Bring on more businesses to Canada. OT: Now for the CRTC to auction of the mobile frequencies so we can have more wireless providers in Canada. Probably will happen by then because of WiMax should be the norm.
