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  #5361  
Old Posted Jan 13, 2015, 4:49 AM
kwoldtimer kwoldtimer is offline
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Territorial rather than provincial, but interesting:

Federal Environment Minister Leona Aglukkaq has announced funding of more than $7-million for research on new and developing fisheries in the Arctic.

Just over half the money is to come from Ottawa. The Nunavut government, Inuit groups and universities are to provide the rest.

Much of the money is to be spent over the next two years on Nunavut’s turbot fishery, which is worth about $65-million a year. Scientists are to consider how existing turbot harvests can be expanded and whether new locations can be added. They will also do surveys to help with managing the stock. ...

http://www.theglobeandmail.com/news/...ticle22422443/
     
     
  #5362  
Old Posted Jan 13, 2015, 5:02 AM
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Interesting. It would be good if the territories could move beyond just mineral extraction. It will be interesting to see how this plays out. Nunavut definitely needs to create a more stable economy. Tourism is very limited due to it's isolation and literally no roads in the territory and it is plagued by violence, drug addiction, and crime. At least in Yukon and NWT tourism viable but much less so in Nunavut.

Today there was an announcement in BC about a potential new LNG plant but then there have been quite a few announcements but no shovels in the ground. I don't a lot about LNG so maybe some with more knowledge could jump in but I thought Natural Gas prices were down and there was already world over-capacity due to slower than anticipated demand and new plants recently coming on stream like Papua New Guinea?
     
     
  #5363  
Old Posted Jan 13, 2015, 2:30 PM
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Peter McKay's big federal funding announcement here was a joke. $100,000 for a program to support children of divorce in French and Innu/Inuit languages.

They hates us lol.

But it's to be expected. We have government ministers touring European embassies in Ottawa right now trying to convince them to pull support for CETA.
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  #5364  
Old Posted Jan 13, 2015, 3:44 PM
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Originally Posted by SignalHillHiker View Post
Peter McKay's big federal funding announcement here was a joke. $100,000 for a program to support children of divorce in French and Innu/Inuit languages.

They hates us lol.

But it's to be expected. We have government ministers touring European embassies in Ottawa right now trying to convince them to pull support for CETA.
"The precious... Gollum... Gollum."

(Sorry... Just reading that, that's all I could hear in my head).
     
     
  #5365  
Old Posted Jan 13, 2015, 3:52 PM
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Hahaha. I didn't get kool's pirate quip but that one makes sense.

So, potentially big news here today. Hugely popular and well-known labour organizer, Earle McCurdy, has announced he will seek leadership of provincial NDP now that Lorraine Michael has stepped down (but still intends to defend her seat in Signal Hill-Quidi Vidi). MP Ryan Cleary said he would run if no one high profile threw their hat in the ring. He was at McCurdy's announcement to say yep, he's big enough lol. They say MP Jack Harris is the only one who could decide to run and possibly beat McCurdy.

Expect the next polls here to show a BIG swing from PC to NDP with Liberals remaining mostly unchanged but probably down slightly. We've never had an NDP government, and still won't (they have no presence outside St. John's, which is all Liberal). I'd be very curious to see how An NDP government would handle the economy.

When we first got into oil and gas and te companies intended to operate out of Halifax, the NDP was part of the ultimately successful campaign that said no, royalties and benefits go here, not the mainland. I've no idea where they fit on the nationalist spectrum. You know a PC gov will be anti-Ottawa, and a Liberal one will be up their arse. But NDP could be anywhere in between.

I wish the federal election was already over so we could vote more provincially strategically to ensure we at least have a chance at a beneficial relationship with Ottawa. Unless it's Harper again.
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  #5366  
Old Posted Jan 13, 2015, 4:49 PM
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Alberta likely to sink into recession this year even if oil rebounds to $65: conference board

Quote:
Chief economist Glen Hodgson says even if oil prices rebound to $65 dollars per barrel he forecasts that investment, profits and consumer spending will be down.
Quote:
“It’s going to be very hard for Alberta to avoid a recession this year,” Hodgson said Monday.
http://business.financialpost.com/20...ebounds-to-65/
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  #5367  
Old Posted Jan 13, 2015, 4:58 PM
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Story in Globe & Mail about Fort Mac: "it's like the place has gone dead."

What's Canada's definition of a recession? Are we in NL already in one?
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  #5368  
Old Posted Jan 13, 2015, 5:01 PM
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Peter MacKay has acknowledged that the Premier of Nova Scotia asked the Feds why they wouldn't get a CETA fund too. I figured that's what happened. And good for them, we'd certainly do the same. But the Feds shouldn't have changed their promise. There's an actual reason: we're giving up MPRs. Selling them, really. No other province even has them. And with the Europeans insisting they're removed, they're valuable.
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  #5369  
Old Posted Jan 13, 2015, 5:03 PM
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Originally Posted by GreaterMontréal View Post
Alberta likely to sink into recession this year even if oil rebounds to $65: conference board



http://business.financialpost.com/20...ebounds-to-65/
This just reinforces the fact that we need to keep working hard to diversify our economy here, too many eggs in one basket.
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  #5370  
Old Posted Jan 13, 2015, 5:35 PM
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Originally Posted by kwoldtimer View Post
Territorial rather than provincial, but interesting:

Federal Environment Minister Leona Aglukkaq has announced funding of more than $7-million for research on new and developing fisheries in the Arctic.



http://www.theglobeandmail.com/news/...ticle22422443/
There is a small commercial fisheries in Nunavut. Pangnirtung has a processing facility and has upgraded their harbor to accommodate larger ships. The issue however is the high cost of getting the product to market. You also see processing ships from Greenland in Nunavut during the summer months.

Cambridge bay has a similar problem with getting product to market, I do get Arctic Char occasionally but prices tend to be higher.
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  #5371  
Old Posted Jan 13, 2015, 5:40 PM
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Originally Posted by SignalHillHiker View Post
Story in Globe & Mail about Fort Mac: "it's like the place has gone dead."

What's Canada's definition of a recession? Are we in NL already in one?
Funny I was up last week and it was kinda busy. Heading back up again next week and the flight is as full as always. I don't know what you mean by dead. There is so much in the stream right now that any slowdown on the construction side will not be felt until at least 2016-2017.
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  #5372  
Old Posted Jan 13, 2015, 6:20 PM
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^ Maybe we should find a good place for an alberta politics thread before we go off on another tangent, though I don't think we've had one since the Local sections came.

Is it at all possible to have a thread live in two locals?
I think the Provincial Economies thread is meant for exactly that. The discussion in this thread is often going to be a bunch of sub-discussions, each one province-centric.

If you move this particular conversation to an Alberta-specific subforum, you'll end up with only Albertans participating. Not saying it's a bad thing, just a fact.

Also, clicking on the link posted above, it becomes clear (to those not blind) that the Conference Board of Canada is a bunch of Alberta haters. I mean just look at that... (quote below)

And we had oil dipping to the mid $40s yesterday. Just sayin'


Quote:
Originally Posted by link posted above
CALGARY — The Conference Board of Canada says Alberta will likely face a recession this year due to the plunging price of oil.

The economic think tank says Alberta’s latest employment and new housing start numbers are holding steady, but if oil prices stay low the province will slip into recession.

Chief economist Glen Hodgson says even if oil prices rebound to $65 dollars per barrel he forecasts that investment, profits and consumer spending will be down.
     
     
  #5373  
Old Posted Jan 13, 2015, 6:26 PM
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Originally Posted by GreaterMontréal View Post
Maybe they can't diversify the economy as much as they would like.
From a continental point of view AB is quite isolated (freeway network and population distribution) and labor over there isn't cheap. The basic ingredients aren't too favorable to AB when it comes to attracting new industries.
     
     
  #5374  
Old Posted Jan 13, 2015, 7:07 PM
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Lets "diversify" this topic a bit.

How bad will Saskatchewan be affected by this drop in oil?

Manitoba is planning to build another Hydro Electric Dam and a third transmission line. They already sell power to the states at a loss. Will the drop in oil make Hydro even cheaper for America (and more expensive for Manitobans)?
     
     
  #5375  
Old Posted Jan 13, 2015, 7:16 PM
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Originally Posted by VANRIDERFAN View Post
Lets "diversify" this topic a bit.

How bad will Saskatchewan be affected by this drop in oil?

Manitoba is planning to build another Hydro Electric Dam and a third transmission line. They already sell power to the states at a loss. Will the drop in oil make Hydro even cheaper for America (and more expensive for Manitobans)?
I'm really terrified here in Newfoundland. There seems to be this intense degree of boomerism affecting decisions.

No one cares because they all know they will be out of the system within 5 years, and acts like these problems are magically gonna solve themselves.

Everything going on right now, seems to sugguest the rural parts of this province are gonna grey even faster, government jobs are gonna be reduced through attrition so as people retire no one will replace them.

It quite literally seems to be the plan everywhere you go. A stream lined economy where oil and mining prop up retirees and everything else disappears seems to be very much our near future.

What alot of people don't appreciate is that loyalty to this province has been severely weakened. The rural population having to move to st john's has cut off alot of our supposed ties to the island.

And we've become accustomed to this boom lifestyle.

I really can't see much of the population sticking around if things start to slip.
     
     
  #5376  
Old Posted Jan 13, 2015, 7:25 PM
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Originally Posted by VANRIDERFAN View Post
Lets "diversify" this topic a bit.

How bad will Saskatchewan be affected by this drop in oil?

Manitoba is planning to build another Hydro Electric Dam and a third transmission line. They already sell power to the states at a loss. Will the drop in oil make Hydro even cheaper for America (and more expensive for Manitobans)?
Unless they already have a sales contract, I doubt it would be going forward with the states as customer. There is always the potential for Manitoba Hydro to build a merchant connection to Alberta's grid. Even just holding steady state the province needs to replace closing coal plants, and Alberta's prices are higher than down in the states.

If Site C is built I bet a northern inter-tie gets built for BC to play an even larger role in the Alberta market.
     
     
  #5377  
Old Posted Jan 13, 2015, 8:11 PM
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Yep. Infrastructure spending was subpar from like 1980 onwards pretty much everywhere in Canada. Infra spending has been on the rise recently, and in Ontario specifically it has now climbed to levels adequate to maintain existing & build new.
     
     
  #5378  
Old Posted Jan 13, 2015, 8:12 PM
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Originally Posted by MalcolmTucker View Post
Even just holding steady state the province needs to replace closing coal plants, and Alberta's prices are higher than down in the states.
Alberta is moving ahead with replacing coal for NG. The plants west of Edmonton are getting billion $ upgrades and expansions. something that gets left out of the sky is falling discussion.
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  #5379  
Old Posted Jan 13, 2015, 9:16 PM
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Alberta is moving ahead with replacing coal for NG. The plants west of Edmonton are getting billion $ upgrades and expansions. something that gets left out of the sky is falling discussion.
Still plenty of room for 2000 mw of additional imports.
     
     
  #5380  
Old Posted Jan 13, 2015, 11:41 PM
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GM Oshawa assembly plant

Expect this to be nailed down (with money from both levels of government) before the October election, if GM is planning to stay. If negotiations drag on past October, I'd wager that it means GM is gone sometime after 2016:

"The federal and Ontario cabinet ministers who oversee the auto industry in Canada will meet with General Motors Co. chief executive officer Mary Barra in Detroit on Wednesday to press the case for new investment by the auto maker at its operations in Oshawa, Ont.

Federal Industry Minister James Moore and Ontario Economic Development Minister Brad Duguid will meet with Ms. Barra in part to discuss what the future holds for GM’s Oshawa assembly plants. One plant is scheduled to close next year and industry sources say no new products have been allocated to the other factory, which puts its future in jeopardy later this decade." ...

http://www.theglobeandmail.com/repor...ticle22436753/
     
     
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