Wednesday, November 25, 2009

This and That

Alberta Spends $2Billon for largest Carbon Capture Pipeline in the world -"Alberta will spend $2 billion over the next 15 years to push through with the largest pipeline system in the world to capture carbon dioxide. The green signal for the project was the recent signing of Letters of Intent with the Alberta government by Shell and TransAlta Corporation.

Once the two projects start in 2015, the yearly C02 reductions would be equivalent to tailpipe emissions of one million vehicles or removing off the road one-third of all the registered vehicles in Alberta."

That is an incredible reduction of Carbon emissions!

Alberta Productivity Lagging -"This is likely to be the first recovery led, not by North America or Europe, but by Asia, and it will be driven by energy and materials," said Leo de Bever, CEO of Alberta Investment Management Corp. (AIMCo).

"Alberta will be right in the middle of it, but we have to do something about productivity."

But Alberta is still in a better economic positiion due to it's lower projected deficit and $17 billion in a sustainability fund

Alberta housing market stilll affordable but costs are rising: RBC Economics -"Although home affordability has deteriorated, it still compares favourably to long-term averages," said Robert Hogue, senior economist at RBC. "Activity in the housing market has picked up considerably in the province since last winter, with prices now stabilizing or even gaining in some areas."

of the benchmark detached bungalow moved up to 34.4 per cent, the standard townhouse to 25.9 per cent, the standard condo to 22.4 per cent and the standard two-storey home to 37.9 per cent.

"The market recovery has been less pronounced in Alberta than in other regions of Canada, largely reflecting the particularly tough economic conditions in the province," noted Hogue. "Nonetheless, still-reasonable affordability levels and an expected economic recovery next year should boost housing demand in the period ahead."

In fact 35% affordability is very good other places, like B.C have seen figures in the 70% range.

Oilsands players hiring again but the economy isn't quite back in the game - "But while the new jobs indicate that activity in the oilsands is picking up, Sumner said he expects Alberta's labour market to remain volatile.

"It solidifies the fact that we know in the long run, these are viable projects and they're going to create a lot of jobs," he said.

"Does this mean that it's a sign the broader economy is turning around? I'm not sure you can quite say that."

Alberta's unemployment rate had jumped by 0.4% to 7.5% in October, an increase that had surprised many observers"

All eyes are looking to 2010 to be the year the economy rebounds, even with an unemployment rate of 7.5% Alberta was better off then most of Canada.

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