Athabasca Oil chopping 25% of head office staff

The sector is still a long ways away from permanent solutions, says company president Robert Broen

Athabasca Oil chopping 25% of head office staffAthabasca Oil Corp. announced on Tuesday that it has undertaken a number of actions to enhance its competitiveness and resiliency. It has introduced a streamlined corporate cost structure that consists of a 25 per cent reduction in head office staff effective immediately and 10 per cent rollback in salaries for executives and directors. The company did…

Canadian crude oil production on the rise in September

StatsCan said Alberta produced 17.4 million cubic metres of crude oil and equivalent products in the month

Canadian crude oil production on the rise in SeptemberCanadian production of crude oil and equivalent products totalled 21.1 million cubic metres (132.6 million barrels) in September, up 5.7 per cent compared with the same month in 2017, says Statistics Canada. Non-upgraded production of crude bitumen surpassed 9.0 million cubic metres for the third consecutive month, to reach 9.3 million cubic metres (+15.0 per…

Oil production cut to take 2.2% out of Alberta’s GDP in 2019

The move is also bound to have implications for Canada’s economy: Conference Board of Canada

Oil production cut to take 2.2% out of Alberta’s GDP in 2019The Alberta government’s unprecedented move to cut back oil production in the province starting next year is “a desperate measure to alleviate bottlenecks and bolster prices,” says a commentary by the Conference Board of Canada. “Whether there’s a payoff will be hard to determine and will depend on whose opinion you ask on this complex…

Capital expenditures in Canadian oil patch plunge 58% from 2014

ATB report blames the decline on the completion of major projects and the dramatic oil price differential

Capital expenditures in Canadian oil patch plunge 58% from 2014The news from the oil patch continues to raise concerns across Alberta and Canada. The latest is the revelation that capital expenditure in the oil patch, a driving force of the national and provincial economies, is falling again. ATB Financial’s Economics & Research Team on Thursday released data from Statistics Canada indicating that there were “whispers…

Alberta cuts oil production in face of price differential

‘Every Albertan owns the energy resources in the ground and we have a duty to defend those resources,’ says Premier Notley

Alberta cuts oil production in face of price differentialAlberta Premier Rachel Notley announced on Sunday that the province is mandating a short-term reduction in oil production in response to the historically high oil price differential. The provincial government says that differential is costing the national economy more than $80 million a day. Production of raw crude oil and bitumen will be reduced by…

Time to rethink the federal transfers system

Atlantic Canada enjoys a level of public spending that far outreaches that of the provinces that contribute most to equalization payments

Time to rethink the federal transfers systemIt is time for a fundamental course change by Atlantic Canadians with respect to equalization and other regional subsidies. I recently made a presentation to independent senators in Ottawa on this subject in which I said that Canada’s regional subsidies were ineffective. We've had a half-century of remarkably large subsidies to Quebec and Atlantic Canada,…

Legacy media is in a zombie state, so why waste public money on it?

Leave reporting to independent innovators who build the public trust honestly. Any government subsidy surely undermines that trust

Legacy media is in a zombie state, so why waste public money on it?A little over nine years ago, in the midst of the chaotic collapse of the Canwest media empire, CHCA-TV of Red Deer, Alta., died. It was considered shocking at the time that a legacy TV station (it launched in 1957) could actually close. Other stations – CHEK in Victoria and CHCH in Hamilton – were…

Two crises, one ineffectual government

The failure to approve a pipeline has turned an economic problem into an existential crisis for the country

Two crises, one ineffectual governmentOne crisis in the West. One crisis in the East. Can Prime Minister Justin Trudeau feel the eyes on his back? Alberta and other portions of the West are absolutely reeling from the devastating impact of criminally low oil prices. Oil and gas companies and their suppliers are losing money. Our resources are being stolen.…

The fundamental flaw of populist politics

The populist trinity of direct democracy – initiative, referendum and recall – is incompatible with the Canadian political system

The fundamental flaw of populist politicsThe recent Robyn Luff controversy in Alberta illustrates two much broader issues. One is that this MLA, like many Canadians, doesn’t understand how the Westminster-style parliamentary system works. The other is the remarkable persistence of the notion that MLAs are merely delegates of their constituents. Luff, the Calgary-East MLA, complained about being forced to toe…

Canadian economy staring into the abyss

We are weeks away from a systemic collapse of large parts of the energy industry in Canada. We need to act quickly and decisively

Canadian economy staring into the abyssJust how close is the Alberta oil patch to catastrophic failure? In an informal and I admit very unscientific review of sentiment in Calgary's oil patch conducted by Alberta Council of Technologies (ABCtech) officers last week, a chilling tale of fear emerged. With Western Canada Select crude (WCS) bottoming out at less than $10 a…

ePlay Digital making its mark in the growing esports industry

Company is poised to take advantage of the growing billion-dollar esports industry

ePlay Digital making its mark in the growing esports industryA Calgary-based company has become a key player in the mobile game creator field and a publisher specializing in sports and entertainment augmented reality titles. Trevor Doerksen, CEO of ePlay Digital Inc., says the company is poised to take advantage of the growing billion-dollar esports industry. The company, which was established in 2017, is a…

Energy East pipeline represents Canada’s salvation

It’s time to send a clear message to the United States and OPEC that Canada is in charge of its own destiny

Energy East pipeline represents Canada’s salvationYou know things are bad when private-sector companies like Cenovus Energy are begging NDP Premier Rachel Notely to use the powers of government to curtail oil production in Alberta. But the gruesome truth is, at US$14 per barrel, Western Canadian Select (WCS) is essentially a giveaway.  This is bad for business (with the exception of…

What’s going on with oil prices in Alberta?

Industry expert Richard Masson explains how supply and demand balance dramatically impacts oil pricing

What’s going on with oil prices in Alberta?Trying to understand the critical situation Alberta faces with current oil prices is daunting for most people, especially if they’re not directly involved with the oilpatch. So Calgary’s Business decided to make some sense out of this confusing scenario and sought the expertise of one of the country’s top experts in the field to explain…

Activist ‘wall’ thwarting Canadian oil exports

The delay of Keystone XL, likely by at least a year, is another blow to Canada and a particularly sharp blow to Alberta

Activist ‘wall’ thwarting Canadian oil exportsProgressives (and some conservatives) have largely stymied President Donald Trump on getting his wall across the U.S. southern border built. Ironically, those same progressives have given the president another wall – encompassing Canada and thwarting oil exports to countries other than the United States. The latest slab in the wall is a ruling by a…

Calgarians rebelled against the mother hens

Big forces were at play in the campaign to vote yes to hosting the Olympics. But public distrust was a more powerful force

Calgarians rebelled against the mother hensYou’ve probably already read and heard a lot of so-called experts explaining why the people of Calgary voted against a bid for the 2026 Olympic Games. A lot of the analysis misses the mark. On the surface, it appeared this venture was tailor-made for a city known for its entrepreneurism, can-do spirit and accomplished winter…