Latest news with #BusinessCouncilofAlberta
Calgary Herald
28-05-2025
- Business
- Calgary Herald
Varcoe: Throne speech confirms 'energy superpower' goal, but what major projects will be fast-tracked by Ottawa?
Article content The new federal throne speech reconfirmed the Carney government's objective that Canada will become the 'world's leading energy superpower in both clean and conventional energy.' Article content Article content To do so will require new investment and infrastructure capable of producing and exporting more energy to the world, and policies that allow it to happen. Article content Article content Article content Speaking in Calgary last week, Energy and Natural Resources Minister Tim Hodgson also said he wants to see some projects built that are 'quick wins.' Article content And he wants to see better supply security in Eastern Canada. Article content 'The government of Canada has to be really clear what the objective is. If it's leverage and optionality and the maximization of value — and what is the lowest cost and quickest way to do that — I'd say a shorter distance pipeline is the way to think about it,' Kevin Birn, chief analyst of Canadian oil markets for S&P Global Commodity Insights, said Tuesday. Article content 'If they're talking about energy security for the rest of the country, there might be different considerations . . . What's the clarity of the objective? What's No. 1 here?' Article content Article content Those are good questions. Article content Article content In Tuesday's throne speech, the answer of how the Carney government will get energy infrastructure built included some signals, but few details. Article content The speech, read by King Charles III, said the federal government will work with provinces, territories and Indigenous people to identify projects of national significance that can 'deepen Canada's ties with the world.' Article content The Liberal government also reiterated its campaign promise to create a major projects review office and ensure it will issue development decisions within two years, instead of five. Article content 'This is a federal government that wants to build things,' said Adam Legge, president of the Business Council of Alberta, which held a roundtable meeting with Hodgson on Friday.
Calgary Herald
13-05-2025
- Business
- Calgary Herald
'Fire... meet gas': Alberta Premier Danielle Smith dismayed at Carney cabinet picks
OTTAWA — Alberta Premier Danielle Smith didn't hide her dismay at Prime Minister Mark Carney's choice of Toronto-area MP Julie Dabrusin as his new environment minister on Tuesday. Article content Article content 'I am very concerned the prime minister has appointed what appears to be yet another anti-oil and gas environment minister,' said Smith in a statement on Carney's cabinet picks. Article content Article content 'Not only is (Dabrusin) a self-proclaimed architect of the designation of plastics as toxic, but she is a staunch advocate against oil sands expansion (and) proponent of phasing out oil and gas(.)' Article content Article content Smith has warned Carney repeatedly that he'll need to scrap several of these policies — including the federal cap on oil and gas emissions and federal clean electricity regulations — if he wants to avoid an unprecedented national unity crisis. Article content On Monday, Smith announced that she was indefinitely freezing Alberta's industrial carbon price at $95 per tonne, setting up a clash with the Carney Liberals over their escalating federal carbon price. Article content Article content Just one Alberta MP, Edmontonian Eleanor Olszewski, was named to Carney's 28-member cabinet. Article content Article content Rookie Calgary Liberal MP Corey Hogan was snubbed of either a cabinet or secretarial post. Article content The reaction to Carney's new cabinet in Alberta wasn't all negative, as some in the province's business community said they were encouraged by the appointment of ex-banker Tim Hodgson as energy minister. Article content 'Tim (Hodgson) has real life experience with Alberta's energy sector… he's seen firsthand the challenging policy environment that the federal government has put in place for the past ten years,' said Business Council of Alberta President Adam Legge.
CBC
01-05-2025
- Business
- CBC
Province now accepting applications for 'Alberta is Calling' moving bonus
The Alberta government is offering to cover moving costs for up to 2,000 skilled tradespeople who settled in the province last year, as part of its "Alberta is Calling" campaign. On Thursday, applications opened for a $5,000 moving bonus, available to those who arrived between May 1 and Dec. 31, 2024. The first 2,000 applicants from a list of eligible occupations — including aircraft mechanics and construction labourers — will receive a one-time, refundable tax credit. To qualify, applicants must be working full time and be either a Canadian citizen or a permanent resident. The program falls short of what the United Conservative Party promised during the 2023 provincial election campaign. At that time, party leader Danielle Smith pledged a $1,200 payment to health-care and child-care workers along with skilled tradespeople, under a $17-million program, as part of a broader job and economic growth strategy. When announcing the program in March 2024, Alberta's Jobs, Economy and Trade Minister Matt Jones defended the changes, saying the province talked to industry and did other due diligence before settling on parameters. Industry groups praise program, say more is needed More than a year after the program was announced, the shortage of skilled trade workers in Alberta is still "quite significant," according to Business Council of Alberta president Adam Legge. He added the problem could get worse over the coming years, with 700,000 skilled trades retirements expected across Canada by 2028. "Every one of my members that employs skilled trades is facing a shortage, and that is everything from aviation needing aircraft mechanics, it's car dealerships … everything from carpenters, framers, plumbers, electricians," said Legge. "I don't know of a single industry that is saying, 'Hey, we're OK right now.' They're all in an acute shortage, which is really increasing the competition to get some of these limited skill trades talent," said Legge. Incentive programs designed to attract more workers are effective, he added, but more are needed. "Thankfully the trend is improving, but it's such a big, big undersupply that it will take some time," he said. "We need a whole host of solutions to the problem." Data from Statistics Canada suggests progress is occurring when it comes to the construction sector workforce. Alberta's construction job vacancy rate was 4.1 per cent in the fourth quarter of 2024, down 1.4 percentage points from a year earlier. But Calgary Construction Association president Bill Black says a lack of workers is still affecting decisions in the sector. "It's going to limit the amount of work you can commit to, because if you run out of labour and you can't perform, then you have a real problem," he said. "It may also increase the cost of labour because you may start to see people poaching each other's workers." Black said the relocation bonus is a "step in the right direction," but he's calling for more industry involvement in provincial decision-making and a comprehensive strategy created to address the workforce shortages. In a statement, Jones said the province is expanding apprenticeship opportunities, fast-tracking foreign credential recognition, and investing in training grants for skilled trades workers. Alberta does not track the occupations of new residents, but overall the province added 168,221 residents from the first quarter of 2024 to the first quarter of 2025, according to StatsCan data.
Yahoo
15-04-2025
- Business
- Yahoo
WTI's brief dip to $55 US a barrel has analysts urging wait-and-see approach
The West Texas Intermediate oil price dipped to $55.12 US per barrel early Wednesday, leaving analysts to speculate on what's around the corner at a time of mass economic instability. And while it rebounded to close at $62.71 US, one business group is wondering how the recent downward trend could impact Alberta provincial revenues. "It's a good reminder of still how dependent the Alberta budget is on crude oil prices, on the whims of the global economy and just the vulnerability there," Alicia Planincic told CBC News in an interview. She's the director of policy and economics at the advocacy group Business Council of Alberta. Resource royalties account for roughly 20 per cent of the province's budget, Planincic said. "The budget assumed the benchmark price for crude oil, West Texas Intermediate (WTI), would be around $68 US a barrel. Just to put that magnitude in perspective, every $1 difference means $750 million dollars less to government revenue," she said. "If we think about a difference between $57 US a barrel and the $68 US that was assumed, we are looking at about an $8 billion hit to the provincial budget." There are many variables at play, Planincic said. "There is still a lot of uncertainty as this trade war really heats up with China, of how much is the U.S. going to be able to withstand? Is it going to back off on tariffs? Ultimately, all this harm is self-inflicted at the moment, it can be walked back. We have already seen that with a number of decisions," she said. "We should never just take one day or a couple of weeks of WTI prices and panic too much." CBC Calgary's business economist said the market is trying to find itself under some new realities. "The market is trying to figure out where demand is going to be, and it's paying undivided attention to any news on tariffs. It's not just limited to oil. Certainly equities are feeling it, too. All commodities," Al Salazar told the Calgary Eyeopener in a Wednesday interview. "The world is trying to figure out how to value things in the new trade order, should things stay the way they are in terms of tariffs." The province said it's watching intently. "We are closely watching the situation," senior press secretary Justin Brattinga said in an emailed statement. "The fiscal year began nine days ago, and our budget forecasts are for the entire year. If any revisions to our forecasts or projections are needed, they will be done at the quarterly updates." WATCH | Impact of declining oil prices on the energy sector amid U.S. tariffs: Meanwhile, Planincic said many are taking a conservative approach to big commitments. "There is a lot of hesitation when it comes to big capital investment decisions, or hiring plans. It makes sense to have a wait-and-see approach," she said. "There is some hesitation. The problem is, that hesitation is going to have a very real effect, even if we don't see tariffs or a global recession. That's another concern. The name of the game is wait and see." Salazar notes that while one metric has narrowed, it may not have the implications some are hoping for. "A differential is basically Western Canadian Select (WCS) prices, the prices here in Alberta, relative to the prices of WTI in the Gulf Coast. It is the spread between the two," he explained. "Notionally, the only thing that should separate the two is the quality of the barrel and the transportation. Historically, when differentials blow out, it is because there is too much oil out of Alberta trying to get out. There is not enough space on pipes so they have to use rail. That's how things blow out." 'Buckle up' Oil producers need to brace themselves, Salazar said. "OPEC (Organization of the Petroleum Exporting Countries) announced they were unwinding their production at a bit of a faster rate. It just feels like they are piling on," he said. "The combination of tariffs and OPEC-unwind is not constructive of prices, so as an Alberta producer, you have got to buckle up. This is probably more of the norm."
CBC
09-04-2025
- Business
- CBC
WTI's brief dip to $55 US a barrel has analysts urging wait-and-see approach
Social Sharing The West Texas Intermediate oil price dipped to $55.12 US per barrel early Wednesday, leaving analysts to speculate on what's around the corner at a time of mass economic instability. And while it rebounded to close at $62.71 US, one business group is wondering how the recent downward trend could impact Alberta provincial revenues. "It's a good reminder of still how dependent the Alberta budget is on crude oil prices, on the whims of the global economy and just the vulnerability there," Alicia Planincic told CBC News in an interview. She's the director of policy and economics at the advocacy group Business Council of Alberta. Resource royalties account for roughly 20 per cent of the province's budget, Planincic said. "The budget assumed the benchmark price for crude oil, West Texas Intermediate (WTI), would be around $68 US a barrel. Just to put that magnitude in perspective, every $1 difference means $750 million dollars less to government revenue," she said. "If we think about a difference between $57 US a barrel and the $68 US that was assumed, we are looking at about an $8 billion hit to the provincial budget." There are many variables at play, Planincic said. "There is still a lot of uncertainty as this trade war really heats up with China, of how much is the U.S. going to be able to withstand? Is it going to back off on tariffs? Ultimately, all this harm is self-inflicted at the moment, it can be walked back. We have already seen that with a number of decisions," she said. "We should never just take one day or a couple of weeks of WTI prices and panic too much." CBC Calgary's business economist said the market is trying to find itself under some new realities. "The market is trying to figure out where demand is going to be, and it's paying undivided attention to any news on tariffs. It's not just limited to oil. Certainly equities are feeling it, too. All commodities," Al Salazar told the Calgary Eyeopener in a Wednesday interview. "The world is trying to figure out how to value things in the new trade order, should things stay the way they are in terms of tariffs." The province said it's watching intently. "We are closely watching the situation," senior press secretary Justin Brattinga said in an emailed statement. "The fiscal year began nine days ago, and our budget forecasts are for the entire year. If any revisions to our forecasts or projections are needed, they will be done at the quarterly updates." WATCH | Impact of declining oil prices on the energy sector amid U.S. tariffs: Impact of declining oil prices on the energy sector amid U.S. tariffs 5 hours ago Duration 8:49 Meanwhile, Planincic said many are taking a conservative approach to big commitments. "There is a lot of hesitation when it comes to big capital investment decisions, or hiring plans. It makes sense to have a wait-and-see approach," she said. "There is some hesitation. The problem is, that hesitation is going to have a very real effect, even if we don't see tariffs or a global recession. That's another concern. The name of the game is wait and see." Salazar notes that while one metric has narrowed, it may not have the implications some are hoping for. "A differential is basically Western Canadian Select (WCS) prices, the prices here in Alberta, relative to the prices of WTI in the Gulf Coast. It is the spread between the two," he explained. "Notionally, the only thing that should separate the two is the quality of the barrel and the transportation. Historically, when differentials blow out, it is because there is too much oil out of Alberta trying to get out. There is not enough space on pipes so they have to use rail. That's how things blow out." 'Buckle up' Oil producers need to brace themselves, Salazar said. "OPEC (Organization of the Petroleum Exporting Countries) announced they were unwinding their production at a bit of a faster rate. It just feels like they are piling on," he said. "The combination of tariffs and OPEC-unwind is not constructive of prices, so as an Alberta producer, you have got to buckle up. This is probably more of the norm."
