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Todd & Danielle Millar

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This and that

08-26-09
Todd & Danielle Millar

Alberta still better off than others - "The state of the province’s economy one quarter into the 2009-10 fiscal year shows a sharper period of recession than expected, Evans said, but the province still expects a stronger recovery next year.

“It’s still a better news story in Alberta than anywhere else in the country,” she said.

The finance minister said interpreting the economic picture in “doom and gloom” terms would be “belittling the entrepreneurship of Albertans.”

So far, there is no sign of how the province plans to head off an economy that’s running red; the $6.9 billion deficit means the Sustainability Fund will be tapped, leaving it with a projected $9.3 billion by the end of the year."

The message is that Alberta needs to correct it's course and there really is no need to over-react. In the last 7 years Alberta spent $140 Billion on infrastructure and virtually wiped out provincial debt and there still is the Sustainability Fund to dip into if need be.

Environment Carbon Crapshoot - "This year, the Alberta and federal governments are setting aside billions of dollars for subsidies that will go to some of the nation’s largest energy companies. The money represents a down payment on a grand experiment. The idea is to collect carbon dioxide generated by industry before it goes up the stack into the atmosphere, and cloister it underground for eternity. It’s called carbon capture and storage (CCS). It’s fearfully expensive, and there’s no guarantee it will work. Yet work it must. Because Canada has no Plan B for reducing the impact of its energy industry on the Earth’s climate."

U.S State Department OKs Pipeline From Canada's Oilsands - The U.S. State Department has issued a permit for a multibillion-dollar pipeline to carry crude oil from Canadian oil sands to refineries south of the border, triggering a court challenge from environmental and native groups. The State Department issued a Presidential Permit to Enbridge Energy, Ltd. for the Alberta Clipper - a 1,000-mile/1,607-kilometer crude oil pipeline that will run between Hardisty, Alberta, and Superior, Wisconsin.

With supply of crude oil from Western Canada oil sands developments expected to grow by as much as 1.8 million barrels per day by 2015, the industry has asked for more ...

So how long do you think the deficit will last?

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I forgot to tell you...

08-23-09
Todd & Danielle Millar
We went to Canada for two great weeks. It was Ronan's first international flight and he was fantastic. Slept the whole way there (hint to traveling new parents make sure you get the bassinet seat) on the way back it was a bit rougher and jet lag seems to have affected him more but overall we've got a little traveler here. We're excited to take him to Malaysia this winter.

Our family was ecstatic to see him and he was a hit all round. I totally relaxed as everyone wanted to hold him!

Edmonton is a fantastic city, it's certainly grown since the last time we've visited. Vancouver has become so chic. I don't know if it's changed for the coming 2010 Olympics or if it's just a huge gentrification but the city is outstanding ~ house prices and affordability reflect that too.

We also made a quick trip to look at Pender Island. What a paradise. We met some great realtors and stayed at a fantastic B&B.
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What's going on with the economy?

08-09-09
Todd & Danielle Millar

A snapshot look at Canada's economy major economists taken from The London Free Press

"The downward trend among private sector employees persisted in July, with large losses for this group partially offset by continued gains in self-employment."

Statistics Canada July employment report.

"These are difficult times. It's going to be a difficult year. I've been saying that, to sort of calm the euphoria about, you know, 'We're out of a recession.' We are stabilized, and there are some good signs. But it's still the recession and we still have to work our way out of it."

Finance Minister Jim Flaherty told CTV News.

"No one said it was going to be a smooth recovery, and especially not for employment. If there is any positive spin here for the broader economy, it's that the job losses were almost entirely concentrated among summer students (though try telling your teenager that's good news)."

BMO Capital Markets economist Doug Porter

"Even though the Canadian economy is likely to resume positive growth sometime in the third quarter, we are likely to continue to see the unemployment rate climb for up to six months after the recession has come to a close."

TD Bank economist Diana Petramala

"Sadly, today was not a happy day for the Canadian job market. It's critical when we see these disappearing jobs that we have an effective fiscal stimulus to create or to save jobs. And that means getting the money out the door because, no matter how many billions in commitments, you won't save one job if you don't get the money out the door.''

Liberal MP John McCallum, the party's finance critic

"Some people say that the recession is over, but try telling that to the unemployed and their families. Unemployment is going to get worse in the months ahead and the Harper government is leaving people to fend for themselves."

Ken Georgetti, president of the Canadian Labour Congress.

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Well we're positive!

08-06-09
Todd & Danielle Millar

Alberta firms rank third in Western Canada for positive outlook. The poll indicated that businesses in Alberta are very optimistic about economic turnaround.

Saskatchewan topped the charts while Quebec business owners apparently can't see the light at the end of the tunnel coming in at the bottom

As they say if you believe it you'll see it!

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Faster forests cleaner oil

08-06-09
Todd & Danielle Millar

While the oil sands produce a larger chunk of the Canada's greenhouse gases the pros outweigh the cons. Canada as a whole benefits and will benefit from jobs for up to 5.4 million Canadians by 2020. Imagine the housing needs then. Everyone knows that the oil sands' pros far outweigh the cons and would be foolish to say no to their significant contribution to Canada's economy.

The Alberta government has taken A LOT of flak for the environment in Northern Alberta. Yet it seems to be doing so much to right the environment.

Recently the province announced plans to more than triple the amount of protected land in the controversial northeast. Forests rebuilt from reclaimed ground are soon to become a reality as researchers work to bring back the boreal forests.

Check out how Faster Forests come into play here.
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