This is very similar to 2002 and around the Kyoto Accord time when the market was full of fear and FULL of deals. Although I think we're a ways off from a full recovery, you can clearly see the strength and backbone to Alberta's economy.
Managing your current investments and and adding new ones at this time, will have you smiling in 2012 onwards as the economy begins to shine again.
By Michel Viatteau (AFP) – 11.13.09, MONTREAL
"The era of oil gushing from ground wells is over and can only be replaced by costly and complex refining of deposits such as Canada's oil sands to satisfy rising global energy needs, said a senior oil executive. Pressed about the high cost of oil sands extraction and attacks by environmentalists worried about its contribution to global warming, Jean-Michel Gires, president of French-based Total's Canadian subsidiary, told AFP he is optimistic specifically about the future of Canada's oil sands development." GRAB THIS STORY
Keyera to Spend $58M in Edmonton Area
Edmonton Journal, 13th November 2009
EDMONTON - Imperial Oil’s $8 billion Kearl oilsands project has generated a long-term deal with Keyera Facilities Income Fund to provide diluent transportation, storage and loading services in the Edmonton area. READ MORE HERE
Suncor Budgets $5.5 Billion for 2010
International Business Times, November 13th 2009
Suncor Energy Inc, Canada's biggest oil company, said on Friday it is budgeting C$5.5 billion ($5.23 billion) for capital spending in 2010 and will restart construction on its Firebag Stage 3 oil sands project. Suncor, which dominates Canada's oil sands region following its C$22.7 billion acquisition of Petro-Canada in August, will use C$1.5 billion for growth project funding at its oil sands operations and C$4 billion in sustaining existing operations. FULL ARTICLE
As you can see from the articles selected in your mid-month update, the big plans for Edmonton and Alberta continue. Many will wait until they see the economy in full recovery while the smart money continues to pick up the deals now.
"I shall make the most of all that comes: And the least of all that goes." - Sara Teasdale
I appreciate all your calls and emails. I'm looking forward to helping you put together your next deal.
Thank you,
Todd and Danielle Millar-
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