Economics

Arctic Energy Resources Will Be Needed
by Floyd Roland
Published November 6 2008

Canadians right now are concerned about the economy. As our largest trading partner faces the prospect of recession, businesses and individuals in Canada are worried about what that will mean for us. The outcome of the U.S. presidential election and its consequences are also on the minds of many Canadians. And the ongoing turmoil in world financial markets has reminded us just how inter-related global affairs have become.

Vancouver approves $100M bailout for Olympic Village developer
Last Updated: Thursday, November 6, 2008
CBC News

The Southeast False Creek development site comprises 32 hectares of land, seven of which will be temporarily transformed into the Olympic Village during the Games. The Southeast False Creek development site comprises 32 hectares of land, seven of which will be temporarily transformed into the Olympic Village during the Games. (CBC)

Warning: Barbara Yaffe is the author.
--M

Obama's win signals a larger role for Canada in managing North America
Barbara Yaffe, Vancouver Sun
Published: Wednesday, November 05, 2008

Tuesday's historic changing of the guard in Washington D.C., sets the stage for a realignment of the world's closest bilateral relationship.

During his campaign, Barack Obama pledged to lead a more diplomatic and multilateralist U.S. Which suggests Americans may consult Canada more often on foreign and continental policy.

Obama win could upset oilsands: Expert
NEIL MACKINNON /METRO CALGARY
November 05, 2008 05:06
AnswerTips-enabled

A Barack Obama presidency may hold some environmental trouble for Alberta’s energy dependent economy, says the University of Calgary’s Institute for United States Policy research director.

Stephen Randall said with Obama in power, a pipeline running from Alaska through Alberta to the States might not go ahead, causing an economic ripple throughout the province.

Clip from below:

And a Canadian leak that weakened the credibility of Mr. Obama's position on NAFTA in rust-belt states created a political headache, although Ms. Greenwood bets it is forgotten. She said that Canada already has a card it can play to make its interests relevant to Mr. Obama, by selling itself as the solution to a U.S. "obsession" with energy security.

Finding room for Canada
PM faces an uphill battle to gain the next president's ear, experts say

By CHRISTINA SPENCER, NATIONAL BUREAU

Imagine what it was like to be the American president in the year 2000.

The U.S. was not at war. It boasted a hefty budget surplus. Markets were stable and the average price of crude was under $30 US. The environment wasn't a political priority. Sept. 11 held no special significance.

Now, imagine the hailstorm of crises facing whichever man is elected president of the U.S. on Tuesday.

French oil giant mulls exploiting Congo tar sands
October 28, 2008

BRAZZAVILLE (AFP) — French oil company Total said Tuesday that it was considering exploiting tar sands in the west central African country of Congo, where it is the chief oil and gas producer.

"In the future, there are things to do in oil and gas, and -- why not? -- tar sands," the company's director of sustainable development and the environment Jean Michel Gires told the 6th annual World Sustainable Development Forum (WSDF) meeting in Brazzaville.

Ethical Funds Company calls for pause in tar sands development
By Travis Lupick

A “heady mix of litigious, liability, regulatory, and reputational risks” are in store for any company involved in Alberta oil sands development, a new report warns.

CALGARY, Alberta, Oct 30 (Reuters) - Imperial Oil Ltd's (IMO.TO: Quote, Profile, Research, Stock Buzz) third-quarter profit surged 70 percent as crude prices hit records before the world financial crisis led to a steep drop, Canada's largest oil producer and refiner said on Thursday.

Imperial, which is majority owned by U.S. oil major Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz), earned a company-high C$1.4 billion ($1.1 billion), or C$1.57 a share, in the quarter, up from year-earlier C$816 million, or 88 Canadian cents a share.

Oil sands-carrier pipeline may be delayed
Funding uncertain from major shippers on Keystone pipeline
By Tom Stundza -- Purchasing, 10/29/2008 9:42:00 AM

Uncertainty over the pace of oil sands development could delay the construction of a major pipeline that will connect Canada’s Alberta province to the U.S. Gulf Coast, potentially slowing the flow of bitumen to an untapped refining market. The key utility is worried about the level of funding from protential major shippers on the pipeline.