Pulling Gold

The Olympics have officially started! It was the first time I saw the postmodern 'doobie' torch and I must say, it was inspiring to watch the games begin. Although I'm not a huge sports fan, every time the games start I manage to get wrapped up in them. Once I was on a barge floating in Indonesia, another time in Tokyo and it was especially moving to see.

The relay has involved 12,000 torchbearers who have covered roughly 45,000 kilometers in every corner of the country. It started in Olympia, Greece, last October at a ceremony that used the rays of the sun and a special mirror to light the flame. After touring that country, the flame was put inside a miner's lantern and flown to Canada where the final four legends lit the flame.

What I get out of watching the Olympics is seeing the athletes elated faces when they win, especially the young ones. It is fantastic to see them so blown away when they get a medal. I love that look; the coaches beaming on. There is a release of energy to be a part of something so big - but yet to still celebrate your (and your teams) win.

When you watch a particularly moving competition, try and take a bit of that energy with you on throughout your day and into this year and see what happens.

This and That

Alberta keeps edge as Venezuela's oil reserves surge - "On the industry-accepted Oil & Gas Journal list, Saudi Arabia comes first, with 264 billion barrels of largely easy flowing crude, followed by Canada's 175 billion barrels of oil, mostly from the oilsands. With 99 billion barrels, Venezuela trails Iran, Iraq and Kuwait.

"It all depends on how you count your reserves, and in Canada our data are open, transparent and reviewable. You can even look at the drilling logs and core samples," Greg Stringham, vice-president of the Canadian Association of Petroleum Producers

"The situation in Venezuela is significantly different than Alberta, given the political environment and the uncertainty there, so that also suggests that, while there may be more oil there than some people had thought, there's a big, big leap from there actually being more oil to having more oil produced. That is, at the end of the day, what really matters."

Canada still ranks as number 2 in the world for oil reserves. We are THE safest place to get oil in the world.

Economic revival sweeping western Canada - “The West is on fire,” said Adam Waterous, Scotia Capital's Calgary-based head of global investment banking. “It's fantastic news for the country. These are big, big projects that are going to get developed. And there's no question that the West is going to lead the country out of the recession.”

Bring it on! We are ready to ride out of the recession Alberta style!

Olympic games no golden economic opportunity - "Closer to home, here in Alberta, the Games have already produced some notable economic winners. The biggest of all is Edmonton-based PCL Construction, the lead contractor on the $900-million expansion of the Vancouver Convention Centre.

The sprawling waterfront structure on Burrard Inlet, next to Canada Place, will serve as the international media centre during the Games, and home base for some 8,000 journalists.

The closing ceremonies for the Games will take place at B.C. Place, where PCL, once again, will oversee another huge project. Although it won't start until after the Games end, the $458-million scheme to install a new retractable roof on the stadium, home of the B.C. Lions football team, will rank among the largest construction jobs in Western Canada this year."

The Olympics are a fantastic celebration of excellence but they may not sell your home.

Olympics - No bounces or busts

If I've heard it once I've heard it a lot - the Olympics will increase sales in real estate. In Vancouver and surrounding areas there are those hoping to sell their homes during the two week sporting event.

They imagine that when millions of people come from across Canada and the globe to watch the Olympics they will fall in love with Vancouver, it's easy to do, and want to own property there.

Hunting for the Olympics Bounce: Any Evidence in Real Estate a new report out of UBC Sauder School of Business shows neither a positive nor negative impact from the Olympics on the value of real estate. This report focuses on cities in North America and Australia.

After living in Japan for ten years I did hear a lot of how Nagano was in serious debt from spending for the Olympics but no news of a real estate increase.

"If (the claim that the Games is an engine of economic growth is) true," the report states, "real estate in the host city will become more valuable. In this study we look at housing markets before, during and after a city hosts the Olympic Games to see if there is any evidence of an Olympic bounce through an increase in house prices.

"We find none.

"However, in contrast to the shrill warnings of the anti-games Cassandras, we also find no evidence of a downturn or slowing in price growth following the Games."

Instead they suggest the games might just be about enjoying excellence in the world of sports.