Calgary & Alberta Economy

[Chowda7]

Carney tells business crowd a new pipeline project is ‘going to happen’

Prime Minister Mark Carney came close to telling a Bay Street audience today that he will secure a new pipeline for Alberta, offering his strongest endorsement yet of the idea.

www.ctvnews.ca

 

[darwink]

It affects crude price spreads, but I don't really see why else Alberta should care if the oil goes South or West, and one is clearly much easier to do.

optionality and risk.

 

[Chowda7]

Cedar LNG has applied to increase its capacity by 25%

Cedar LNG partner signs major commercial deal for $4 billion Kitimat project

Cedar LNG, 50.1 per cent owned by the Haisla Nation and 49.9 per cent owned by Pembina Pipeline Corp., has won Petronas as a major customer.

vancouversun.com

 

[Chowda7]

https://www.cbc.ca/news/politics/second-list-nation-building-projects-9.6975256

 

[trtcttc]

https://www.cbc.ca/news/politics/second-list-nation-building-projects-9.6975256

Everything on this major projects list are existing projects, including the previous announcement. Much more interested in hearing or seeing how being on this list and the Major Projects office's involvement has actually sped anything up. If we are talking about speeding up major projects, should at least see something they've sped up (an approval, a review, etc.) within 6 months of this office opening.

 

[Chowda7]

The relative lack of rhetoric from the Alberta government is a good sign that there's at least some willingness to work together. It's been a long time

Oil pipeline not on Ottawa's nation-building project list this time, Alberta confirms

Western province says 'sensitive' negotiations continue towards getting a pipeline on Mark Carney's fast-track list'

ca.finance.yahoo.com

 

[Chowda7]

https://www.cbc.ca/news/politics/swedish-king-canada-visit-9.6971674

 

[Mountain Man]

The relative lack of rhetoric from the Alberta government is a good sign that there's at least some willingness to work together. It's been a long time

Oil pipeline not on Ottawa's nation-building project list this time, Alberta confirms

Western province says 'sensitive' negotiations continue towards getting a pipeline on Mark Carney's fast-track list'

ca.finance.yahoo.com

The only rhetoric on this is from PP, but all he does is grandstand anyway lol.

They can propose pipelines to the north coast of BC all they want, but it will be a massive fight with First Nations and likely the BC government to get it built.

 

[Chowda7]

Calgary claims top spot in Western Canada for quarterly venture capital investment | Calgary Economic

Calgary continues to strengthen its position as one of Canada’s leading innovation hubs. According to new data from the Canadian Venture Capital and Private Equity Association (CVCA), the Blue Sky City ranked third among major Canadian cities for venture capital investment — with $341 million...

www.calgaryeconomicdevelopment.com

 

[DougB]

The only rhetoric on this is from PP, but all he does is grandstand anyway lol.

They can propose pipelines to the north coast of BC all they want, but it will be a massive fight with First Nations and likely the BC government to get it built.

Isn't the point of the Major Projects Office to find ways to smooth over regulatory hurdles? Instead it seems to have morphed into yet another avenue for government financing. The last thing the economy needs is more stimulus on top of the hyper-stimulted mega stimulus.

 

[Mountain Man]

Sure, that's a nice idea, but is it actually practical? If the people whose land this pipeline will go through don't want it, how do we force them to accept it?

 

[DougB]

Sure, that's a nice idea, but is it actually practical? If the people whose land this pipeline will go through don't want it, how do we force them to accept it?

1) it's not their land. It's crown land on which they have the right to hunt, trap and fish

2) even if it were private land, rights of way can be expropriated for large linear projects

3) provincial governments have zero jurisdiction over infrastructure that cross provincial boundaries

 

[Mountain Man]

How does the land title ruling in BC affect who has title over the land? And given the protests for the gas pipeline, is that a fight the feds want to have again?

 

[DougB]

How does the land title ruling in BC affect who has title over the land? And given the protests for the gas pipeline, is that a fight the feds want to have again?

Probably minimal effect as it casts uncertainty over freehold (not crown) land ownership. It might actually help as the Feds and BC likely face tens if not hundreds of billions of dollars to settle the land claims and will be on the hunt for anything to generate revenue

 

[trtcttc]

Isn't the point of the Major Projects Office to find ways to smooth over regulatory hurdles? Instead it seems to have morphed into yet another avenue for government financing. The last thing the economy needs is more stimulus on top of the hyper-stimulted mega stimulus.

The power to smooth over regulatory hurdles is the Build Canada Act and for a project to be designated a National Interest project. So far, NONE of the projects, including the ones from September have had that designation. The only thing the "Major Project Office" does now is consult and for the Infrastructure fund to potentially fund. If a project is designated a national interest project, then it gives the minister more ability to overcome laws and regulations.

Althia Raj: Mark Carney forced through his powerful ‘national interest’ bill. So far, it’s pointless

None of the five projects announced in September and referred to Carney’s newly-created Major Projects Office have been listed under the act as a project of “national interest.”

www.thestar.com