ATB Financial lends Westleaf Cannabis funds for SK facility

Company plans 115,000-square-foot cannabis cultivation facility near Battleford

ATB Financial lends Westleaf Cannabis funds for SK facilityWestleaf Cannabis is receiving a development loan of up to $24 million from ATB Financial to build its business. “As one of the first traditional lenders to enter the cannabis space, we’re proud of our long-term partnership with ATB as it has been instrumental in bringing our Westleaf vision to life,” said Taylor Ethans, chief…

Canada’s crude oil profit margin is being railroaded

Shipping crude by rail means lost revenue for oil producers and hampers the broader Canadian economy

Canada’s crude oil profit margin is being railroadedBy Elmira Aliakbari and Ashley Stedman The Fraser Institute When Canada's Federal Court of Appeal quashed the federal government’s approval of the Trans Mountain pipeline expansion project, citing inadequate consultation with First Nations and concerns over marine tanker traffic, it was the latest blow in a bad few months for Canada’s heavy oil producers. Crude…

Canadian Pacific moving more grain

Railway plans to spend more than $1.55 billion in capital investments in 2018

Canadian Pacific moving more grainCanadian Pacific railway announced on Monday that it moved 25.8 million tonnes of Western Canadian grain and grain products, soybeans and other non-regulated principal field crops during the 2017-2018 crop year, up one per cent over the 2016-2017 crop-year and one per cent above its three-year average. It also said that September 2017 was CP's…

Alberta sends bulk of crude oil to pipelines in Canada

Pipelines delivered 7.4 million cubic metres of crude oil to Canadian refineries in June, up 3.2% over last year

Alberta sends bulk of crude oil to pipelines in CanadaPipelines in Canada received 20.8 million cubic metres of crude oil and equivalent products from fields and plants in June, up 4.5 per cent compared with the same month in 2017, according to Statistics Canada. The federal agency reported 0n Monday that the vast majority of product came from Alberta at 86.4 per cent of…

Canadian oil production on the upswing

Alberta (80.9%), Saskatchewan (10.7%) and Newfoundland and Labrador (5.9%) accounted for the vast majority of Canadian production of crude oil and equivalent products

Canadian oil production on the upswingCanada produced 21.8 million cubic metres (137.3 million barrels) of crude oil and equivalent products in May, up 13.5 per cent from the same month a year earlier, according to Statistics Canada. The federal agency said on Monday that non-upgraded production of crude bitumen (+22.8 per cent) was the main driver for the increase of…

Canada’s oil and gas industry faces dramatic shift

A new report by PetroLMI, a division of Energy Safety Canada, details the changing face of the energy workforce

Canada’s oil and gas industry faces dramatic shiftCanada’s oil and gas industry has undergone a significant transformation in the past decade. And as the industry has adjusted to the ups and downs of the economy, there were corresponding shifts in the distribution of the industry’s workforce and the daily experiences of those workers, says a new report by PetroLMI, a division of…

Oil prices expected to decline in the coming months

The latest forecast from Deloitte cites increased OPEC output and slipping international demand for oil

Oil prices expected to decline in the coming monthsGlobal oil prices are expected to recede in the coming months after reaching their highest values since 2014. The latest forecast from Deloitte’s Resource Evaluation and Advisory group says that as Organization of Petroleum Exporting Countries (OPEC) increase output and international demand for oil declines in the second half of the year, prices will fall. The…

Ottawa lays another brick in the wall to stop Alberta oil exports

Ottawa ignores the evidence with Bill C-48, which will make it more difficult to ship oil and byproducts to lucrative Asian markets

Ottawa lays another brick in the wall to stop Alberta oil exportsAs virtually everyone knows by now, the federal government decided to address Canada’s inability to get pipelines built from Alberta to tidewater the old fashioned way. It nationalized the last viable pipeline project, the twinning of the Kinder Morgan Trans Mountain pipeline, and paid $4.5 billion for the existing pipeline. With that purchase, we have…

Saskatchewan top spot for mining investment in Canada, Alberta 11th

Alberta placed 49th internationally and 11th in the Canadian rankings, with only Nova Scotia worse

Saskatchewan top spot for mining investment in Canada, Alberta 11thSaskatchewan is the world’s second most attractive jurisdiction for mining investment after Finland, according to the latest Annual Survey of Mining Companies released on Thursday by the Fraser Institute. Alberta placed 49th internationally and in the Canadian rankings, the province was 11th of all jurisdictions, with only Nova Scotia worse. “Rich mineral reserves, competitive taxes,…

Could Canada’s costly innovation help solve China’s coal dilemma?

Saskatchewan's $1.5-billion CCS demonstration facility at Boundary Dam in the southern part of the province is the first commercial-scale CCS project in the world

Could Canada’s costly innovation help solve China’s coal dilemma?If Santa brought you a lump of coal this Christmas, maybe you shouldn’t feel so bad about it. That coal might actually come in handy as an acceptable part of our energy future. Technology exists that can transform coal from environmental villain into a fuel that at least won’t make things worse than they already…

Canada’s economic dilemma: resource rich, investment poor

Across the country, governments seem intent on discouraging investment, and that hurts job creation, productivity and wage growth

Canada’s economic dilemma: resource rich, investment poorWhat drives business investment? Even after the precipitous decline in the price of oil in the second half of 2014, the answer in Canada is still natural resources. As newly-released data from Statistics Canada shows, in 2016 business investment per capita was highest in the energy-producing provinces. It was around $21,400 in Newfoundland and Labrador,…

Why Saskatchewan’s Meadow Lake pulp mill was doomed

How the Saskatchewan government’s predatory lending practices doomed the Meadow Lake pulp mill

Why Saskatchewan’s Meadow Lake pulp mill was doomedSaskatchewan’s Meadow Lake pulp mill was doomed from the beginning. The repercussions are still being felt, according to a new research paper. It’s been decades since the government of Grant Devine (he was premier from 1982 to 1991) was in power in Saskatchewan. But traces of the Conservative premier’s economic decisions remain. The Meadow Lake…

Kindersley Mall now officially under new ownership

The new owners knew the grocery store in the mall was closing but the Home Hardware closure came as a surprise

Kindersley Mall now officially under new ownershipKenneth Brown of The Clarion A real estate management firm has announced the closing of its transaction to acquire the Kindersley Mall as part of a large portfolio of 44 retail properties. Strathallan Capital Corp., a Toronto-based firm that manages and operates four private funds, issued a news release on Oct. 4 to announce the…

Alberta still loses if resource revenue removed from equalization

Options for reform are severely limited so long as a rule requiring program costs to escalate every year remains

Alberta still loses if resource revenue removed from equalizationBy Ben Eisen and Joel Emes The Fraser Institute Jason Kenney, candidate for the leadership of Alberta’s United Conservative Party, recently called for reform to Canada’s equalization program. Specifically, he suggested a referendum in Alberta to force the federal government to consider removing non-renewable resource revenue (in Alberta’s case, mostly revenue from oil) from calculations…