Oil industry facing (c)rude awakening

The game is up: Oil and gas companies can no longer mask their financial frailty

Oil industry facing (c)rude awakeningThe decline in oil demand accelerated by Covid-19 may be a sign of the future. Forty publicly-traded U.S. oil producers wrote down a collective $48 billion worth of the value of their assets in the first quarter of 2020, the U.S. Energy Information Administration reported. Quoting Deloitte, Oilprice.com points out that the collapse in crude…

Alberta government flip-flops on corporate welfare

It’s time for the UCP to drop its newfound interest in picking winners and losers

Alberta government flip-flops on corporate welfareIt’s a sad day for taxpayers when their government that has “committed to being responsible stewards of taxpayers’ hard-earned money” starts bragging about its corporate welfare spending. Premier Jason Kenney should immediately scrap the new business subsidy programs his government just announced and go back to focusing on cutting taxes for everyone rather than picking…

Alberta’s desperation opens the door to environmental ruin

The government of Premier Jason Kenney has decided to end a 44-year moratorium on open-pit coal mining in southern Alberta

Alberta’s desperation opens the door to environmental ruinDesperate times sometimes lead to catastrophic measures. In Alberta, the beleaguered provincial government is in a financial situation that could be characterized as desperate, suffering from the double-whammy of collapsed resource revenues and, of course, the massive spending required to address the social wildfire known as the COVID-19 pandemic. The desperate measure that the United…

Canadian retail sales rebound in May

In Alberta, sales rose by 15.8 per cent in May to $5.7 billion but they were still down 15.9 per cent from a year ago

Canadian retail sales rebound in MayRetail sales in Canada were up 18.7 per cent in May to $41.8 billion but they remained 20 per cent below February levels, according to a new report released Tuesday by Statistics Canada. “Following COVID-19-related store closures in April, a number of provinces moved ahead with plans to re-open their respective economies, which impacted the…
1 2 3 181