Funding of reserves could lead to 4.7 per cent raise in property taxes

High River residents could be staring down a roughly 4.7 per cent property tax increase this year, following town council’s decision Monday to add $750,000 to the depleted capital reserves fund.

Town staff says growth and property assessment adjustments already freed up an additional $275,000 to direct to the reserves, but to accomplish council’s directive, an additional $475,000 will have to be drawn from increasing tax rates.

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Today’s oil discovery sizes not seen since 1960

The slide flashed up, on two screens, in a hall of over a thousand conference attendees. No one gasped, even though oil prices were already showing signs of erosion a couple of weeks ago. The data seemed matter-of-fact to an oil and gas crowd that has been desensitized to drilling frenzies and gusher wells that are enough to make John Wayne smile in his grave.

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In Canada, cash-rich companies still ‘biding their time’

Companies are taking advantage of record-low interest rates and strong demand for corporate bonds to bulk up their growing piles of cash, holding on to those reserves in part as an insurance policy against economic turmoil.

A new Royal Bank of Canada analysis shows that many companies are building up cash on their balance sheets, “biding their time until the economic environment calms down,” before spending it, RBC economist David Onyett-Jeffries said.

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Oilsands reserve booking ‘exciting’: observers

CALGARY — Establishing reserves in the Alberta oilsands carbonates is “exciting” but it may be quite some time before they can be added to the province’s 169 billion barrels of official crude inventory.

On Wednesday, the Calgary partners in the Saleski joint venture oilsands project announced they had been given the first third-party reserves assignment from the estimated 400-billion-barrel resource that underlies vast regions of northern Alberta.

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For years I have cautioned that changes in the ownership of gold held in the vaults of key central banks around the globe may not have been accurately reported. A report issued last month in Germany has once again brought these issues to the fore. In today’s environment of rampant money creation and questioning of central bank activities, such uncertainty is bound to spark the curiosity of an increasing number of investors.

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