It’s been a wild week for crude oil prices, and as always in periods of dramatic price gyrations, the inevitable question comes up: where are oil prices going? With West Texas Intermediate (WTI) hitting $US 100 per barrel this week on the North American exchange—and prices for Brent in the UK trading even higher than this—it’s a question that has fascinated investors, speculators, and business page writers.
What factors are at play, and what will it all mean for Alberta's economy?
Check it out. Actually, Craig is a super-smart guy and a good friend, so it wasn't too horrendous a debate really. But I think we both make some very good points in this article about inflation and the Canadian economy. Alberta Venture magazine did a bang-up job with the story and graphics! Cudos to Max Fawcett who pitched the questions and acted as moderator.
CLICK HERE to go to Alberta Venture's website to read the article.
It’s been ongoing for decades already, but the westward drift in Canada’s economic centre of gravity will gain even more momentum in 2011. Here are the top ten reasons why...
Love may be in the air today, but during December of last year Alberta’s new car and truck dealerships were feeling a little bit less love than they’ve been used to.
The future of work in Canada was supposed to be in the knowledge-based “New Economy” of high paying service sector jobs. However, even these are under siege due to globalization—no one is immune from change.
However terrifying this sounds, the news is actually not that bad!
Forget about Australia being “The Lucky Country.” And all that noise about the luck of the Irish is way overblown. If one prominent American economist can be believed, the luckiest place on earth is Canada. But it wasn’t meant as a compliment.
Yale economics professor Robert Shiller said Canada’s relatively healthy economy and financial sector is largely due to luck –and that luck came in the form of a random spike in oil prices in 2008.
“It’s a major export for Canada and it went to US$140 a barrel in 2008, right when Canada needed it,” Professor Shiller said in an interview on February 8th, as reported in the Financial Post. “It seems that if the country didn’t have that boost from oil, it would have done worse than the United States.”
Today’s release from Statistics Canada showed that building permits – that favourite bellwether of economists trying to divine the future of construction activity—in Alberta were kinda flat in December. That could be taken as bad news. But, if looked at another way, building permits are not that far off the last 10 year average in Alberta. Everything looks weak in this province compared to 2007-2008. And no one I’ve talked to in the construction sector wants to go back to THAT overheated environment.
So really, it’s good news, isn’t it? Solid construction activity without costs and budgets being blown out of control!
See more of my comments under “Archived Economic Comments” here.
OK, so we've got the Calatrava bridge. Check. We've got the Foster skyscraper. Check. We've even got a Gehry-esque art museum -- oh wait, scratch that... that's Edmonton (well, technically it IS the Art Gallery of Alberta, isn't it?)
So Calgary's got all the trappings of a biggish, modern, global city of a million people. Where are the musuems of contemporary art in this city? Sure, we've got some decent galleries -- don't get me wrong -- and the Art Gallery of Calgary on Stephen Ave is great for the space and size of it. But where's our MOMA? (Or, for that matter, where is our dedicated museum of art at ALL?)
I'm sure someone has some plan for it, but wouldn't the old Telus World of Science building on 11th street SW be perfect for this? When the new science centre opens sometime later this year, what is to become of the existing one? It's an odd building -- certainly not one that would work converted to office or commercial space (or worse, residential... althougth that big round planetarium would make a killer "media room" wouldn't it?)
If they tear down that building, that will be a loss of one of the only examples of modern, 1960-era brutalist architecture in Calgary.
How about a new home for a museum of contemporary art? Or, a dedicated museum for photographic art? Maybe this is already in the grand plan somewhere, but if it is, I haven't heard about it.
Does anyone out there know what the plan is for that structure? And does anyone else agree that it should be saved and turned into a cultural refuge in a city that's still lacking?
The cover of The Economist magazine’s annual year-end issue, printed in December 2010, features a cleverly designed mosaic of pictures from newsmakers around the world. Images of the U.S., the UK, and China are prominent. There are photos of Nicholas Sarkozy, Hillary Clinton, Angela Merkel, and Vladimir Putin. The President of Chile smiles on the cover.
There are pictures of wind turbines, a graphic of global population growth, and an Olympic athlete. Australian Prime Minister Julia Gillard is featured, as is the New Zealand rugby team.
Even Jamie Oliver is on the cover