Solar power may eclipse oil in fifty years: Shell

Solar could overtake oil as the world’s dominant energy source by 2060 in one scenario envisioned by Royal Dutch Shell.

Renewables could make up as much as 30% to 40% of the global energy mix by 2060, as oil loses its reign as the world’s biggest energy source, the oil giant said in a forecast on the energy sector’s changing landscape.

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Economist says to ‘not worry too much’ about bitumen bubble

There are still plenty of opportunities to export Alberta’s bitumen, said economist Todd Hirsch at Thursday’s Chamber of Commerce luncheon, even with the province’s looming financial crisis.

“Let’s worry a little bit, but let’s not worry too much,” said Hirsch, senior economist at ATB Financial.

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Canada Olympic Park unveils $4M expansion

One of Calgary’s favourite places to ski is getting bigger, offering more runs and more challenge for ski hounds to enjoy.

Winsport will be unveiling their new $4M project that adds eight additional acres to the facility.

There will be bigger runs and more of them geared not just for recreational skiers and snowboarders, but for competitive skiers as well.

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Rate on 30-year mortgage declines to 3.51%

WASHINGTON (AP) — Average U.S. rates on fixed mortgages moved closer to historic lows this week, a trend that has helped drive a rebound in home sales.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed mortgage declined to 3.51% from 3.56% last week. That’s near the 3.31% rate reached in November, the lowest on records dating to 1971.

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Century Gardens Park Redevelopment Sparks Urban Values Debate

On the corner of Eighth Avenue and Eighth Street S.W. is a strange and striking juxtaposition of concrete and nature. Angular structures coexist with the surrounding foliage, and when the weather is warm, water cascades over and around them, and the concrete seems to embody the very forces of nature. Pedestrians can often be seen walking through the park to and from the adjacent 8th Street C-Train platform, and in late spring and summer — or on a Chinook-warmed winter’s day — the park is filled with lunch-eating office-tower refugees, chess players and even parkour enthusiasts.

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Spruce Grove council approves development permit for new Holiday Inn hotel

Spruce Grove City Council has unanimously approved a develop-ment permit for a new four-storey Holiday Inn Express and Suites.

The hotel, which will be located south of the TransAlta Tri Leisure Centre on the west side of Jenni-fer Heil Way, is the first phase of the five-acre Tri Leisure Village devel-opment that will eventually include retail stores, a medical clinic and restaurants.

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Public open house on Highway 19 plans set for March

The public will soon be getting the chance to be heard and to receive an update on plans for the eventual twinning and realignment of Highway 19.

Provincial representatives have confirmed that in the next few days an announcement will be made of a March 19 public open house at the Nisku Inn regarding the province’s plans for the highway.

Michael Pylko, construction manager for Alberta Transportation, confirmed that the meeting will be taking place.

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Canada banks top expectations despite lending crunch

TORONTO – Three of Canada’s top banks posted stronger-than-expected quarterly profits on Thursday as they relied on lower loan-loss provisions, cost-cutting, and stronger international revenue to offset slower growth in domestic consumer lending.

Royal Bank of Canada and Toronto-Dominion Bank, the country’s two largest banks, both raised their quarterly dividend. No. 5 lender Canadian Imperial Bank of Commerce left its payout unchanged, prompting investors to pull its shares lower.

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US economy shows modest growth in uphill climb

Time and time again, the housing recovery has been deemed a reflector of overall U.S. economic health. And right now, both seem to be showing fairly modest growth.

In the week ending Feb. 23, seasonally adjusted initial jobless claims dropped to 344,000. This is 22,000 fewer than the previous week’s revised total of 366,000 filings, according to the United States Department of Labor.

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