Natural resources GDP on the decline in Canada

Oil sands extraction declined largely because of shutdowns and maintenance of some production facilities. Crude oil extraction also falls

Natural resources GDP on the decline in CanadaThe natural resources sector in Canada continues to be challenged. A new report released Friday by Statistics Canada said real gross domestic product (GDP) of the natural resources sector fell 2.2 per cent in the third quarter, following a 2.8 per cent rise in the second quarter.  The federal agency said the decline was largely…

Low commodity prices weight on Prairie entrepreneurs

Limited cash flow also a concern for business owners when it comes to investing in their companies these days, according to BDC survey

Low commodity prices weight on Prairie entrepreneursMany Canadian entrepreneurs will continue investing in their companies in 2020 despite growing uncertainty about world economies. But business owners in the Prairies are the most pessimistic, mostly because of low commodity prices and limited cash flow, says the latest annual survey by BDC. The study on investment intentions found that entrepreneurs in the manufacturing…

Energy production in Canada declining, says StatsCan

Alberta produced 18.3 million cubic metres of crude oil and equivalent products in October, down 4.9 per cent

Energy production in Canada declining, says StatsCanEnergy production in Canada declined in several sectors in October 2019, compared with the same month in 2018, according to Statistics Canada. The federal agency said production of crude oil and equivalent products (-1.7 per cent), natural gas (-1.3 per cent), and coal (-9.3 per cent), as well as electricity generation (-3.3 per cent) declined…

Cold, wet weather stings Prairies’ honey production

Fell by 35 per cent in Alberta, 1.9 per cent in Manitoba and by 1.4 per cent in Saskatchewan

Cold, wet weather stings Prairies’ honey productionA cold, wet spring and summer on the Prairies took a devastating toll on honey production this year in Alberta, Saskatchewan and Manitoba, Statistics Canada reports. Production in Alberta, the largest honey-producing province in Canada, fell by 35 per cent to 25.1 million pounds, which was the lowest level since 2000, according to the federal…

Alberta, Saskatchewan landlocked and abandoned

Blocking Prairie oil is not about the environment. And neither is it about safety. It's all about politics and control

Alberta, Saskatchewan landlocked and abandonedIn mocking response to those wishing to separate, some quip that Alberta would remain landlocked the day after it becomes independent.  With a more respectful tone, Alberta’s premier used similar words in his recent “fair deal for Alberta” speech. Those endorsing and those opposing Alberta’s separation from Canada would benefit from a clear statement of…

Canadian energy production on the decline

StatsCan said crude oil delivered by pipelines to Canadian refineries was up 9.1% to 8.6 million cubic metres

Canadian energy production on the declineEnergy production in Canada declined in several sectors in August compared with the same month in 2018, according to Statistics Canada. The federal agency reported on Monday that production of crude oil and equivalent products (-2.4 per cent), natural gas (-4.8 per cent) and coal (-5.2 per cent), as well as electricity generation (-3.6 per…

Canadian drilling forecast continues to cool

Capital, companies, equipment and crews are leaving Canada for better opportunities, with the U.S. an easy choice: PSAC

Canadian drilling forecast continues to coolThe Petroleum Services Association of Canada has decreased its forecast for the number of wells expected to be drilled across Canada for this year. In its third update to its 2019 Canadian Drilling Activity Forecast, PSAC revised its number from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC now projects 2,425 wells to be…

Income grew fastest in provinces with large oil and gas deposits

StatsCan study over 66 years provides insight into which provinces experienced the most growth over three generations

Income grew fastest in provinces with large oil and gas depositsData released Thursday by Statistics Canada may be a couple of years old but it illustrates the importance of the oil and gas sector to the economies of several provinces. “According to a new study, from 1950 to 2016, real gross domestic income (GDI) per capita grew fastest in provinces with large oil and gas…

Canada’s upstream oil and gas sector is in intensive care

The economic damage to the energy industry is due largely to government regulatory and tax policies

Canada’s upstream oil and gas sector is in intensive careBy Steven Globerman and Joel Emes The Fraser Institute Canadian oil and gas companies face major problems, in great part due to government policy. Legal restrictions on the expansion of pipeline capacity have restricted exports of oil, shrinking profit margins. The subsequent price decline for Western Canada Select oil spurred former Alberta premier Rachel Notley…

Canadian crude oil production on the rise

Exports on the rise to U.S. and elsewhere: StatsCan

Canadian crude oil production on the riseCanadian production of crude oil and equivalent products totalled 264.6 million cubic metres in 2018, up 8.5 per cent from the previous year, according to Statistics Canada. The federal agency reported on Monday that non-upgraded production of crude bitumen (+12.7 per cent) was the main contributor to the overall rise. Since January 2016, the average…