EDMONTON – The economic downturn in Alberta has hit hotels in the province’s two major cities hard, but resorts are enjoying a surge.
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Monthly Archives: March 2016
Turn old Edmonton remand centre into affordable housing, says developer
Edmonton’s former remand centre should be turned into affordable housing, says an Alberta developer, who’s offering to help with the transformation.
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Edmontonians brace for overpass overhaul on busy freeway
EDMONTON — Construction on the 53 Avenue overpass at Whitemud Drive starts Monday night and it has some drivers bracing for a slow commute during the spring and summer months.
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$40 Oil Not High Enough To Save A Lot Of Drillers
For a while there in January and early February investors started to get truly nervous about the energy sector. Everyone knows the energy industry itself is in trouble, but earlier this year there was increased concern about energy woes spilling over into the broader economy as China and the EU added their own troubles to the mix. Those fears have been alleviated in part due to the limited rebound oil prices have seen in the last few weeks. It’s too soon to tell if the worst is truly behind us, but for energy companies any salvation may already be too little too late.
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City looking at reducing tax increase
City council met on Monday at a special committee of the whole meeting where it was decided administration should develop strategies and alternatives in order to reduce this year’s tax increase of 4.2% to 2.5%.
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Edmonton community leagues want fewer warnings, higher fines, for slack infill builders
Slack builders will have to up their game this summer if Edmonton follows through on a set of dramatically higher fines going to a public hearing.
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Rural water, sewer service construction to begin in May
Almost half of 16 sub-projects comprising the rural water and sewer servicing program are scheduled to break ground in Wood Buffalo’s southern and central hamlets this spring and summer.
Read more: http://tinyurl.com/hv69s8a
Does Saudi Arabia’s Play For Market Share Make Sense?
Props to Saudi Arabia. Unlike other producers, including U.S. shale producers, it maintained financial strength and flexibility during the last boom. When it began to shift the paradigm of global supply, the kingdom was explicit about its goal—market share—even if it didn’t always trumpet the proactive steps it was taking towards that goal. The now-evident objective of low prices, having been achieved and sustained, begs the question of why Saudi Arabia defended its market share.
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It’s Official: The Oil Surge Was Driven By The Biggest Short-Squeeze Ever
Two months ago, just before crude dropped to 13 year lows, we warned oil traders that there is “a constant short squeeze threat” because “oil shorts are at all-time highs”, adding that “we have seen extreme short positioning building up in the oil futures market. The quantity of short positions opened is at an all-time high for Brent, and still high for WTI futures.”
Read more: http://tinyurl.com/zm4mx92
Oil Majors Only Replace 75% of Oil and Gas Produced in 2015
The oil majors failed to replace all of the oil and gas reserves that they burned through in 2015, a worrying sign for the industry’s future.
Read more: http://tinyurl.com/z7r93ol