This and That March

Alberta's economic snapshot for March 16, 2013 - With many of Alberta’s economic indicators showing some slowdown over the past several months, it wouldn’t be a big surprise to see more households with strained debt levels. However, according to the number of personal bankruptcies filed at the end of last year, consumers appear to have things under control. Go Read it Here

In my line of work I do see people struggling to keep their finances in order. Recently I have less tenants making late payments than ever. 

Fears of a Canada Bubble unfounded - BMO report - Despite significant price hikes the last 10 years, house prices remain affordable across most of the country, with mortgage payments on the average Canadian home eating up a “moderate” 28 per cent of family income, and just 23 per cent when the two costliest cities, Vancouver and Toronto, are factored out, says BMO senior economist Sal Guatieri. Jump to it

Canada's high credit ratings entice global investors - “Money is coming to Canada and for good reason,”  “Typically when international markets buckle a little bit, that’s when you see more participants come to Canada.”says Grant Berry, managing director and head of government finance at RBC Capital Markets. Read More

We see Canadian real estate featured in investment shows all around the world. Not because of Canada's "great beaches" but because it's a great investment. 

Canada's Shale Boom - Unlocking Alberta's oil and gas -
“80% of the world’s oil reserves are held by national oil companies (NOCs)” says Ken Hughes, Alberta’s Minister of Energy. Hughes is referencing the simple fact that countries — like Saudi Arabia, Iran, Russia, Venezuela, Nigeria, Brazil, Mexico and others — have nationalized their oil industry. Indeed, 80% of the world’s oil reserves are “hands off” for you and me. Although, “of the other 20%” Hughes concludes, “HALF are here in Alberta.” Read more

It seems like a pretty amazing time to be in Alberta.

About Alberta

This is from the Edmonton Economic Development Corporation About Alberta page. Great info!

Alberta, number one in Canada

• Alberta was named after Princess Louise Caroline Alberta, daughter of Queen Victoria and Prince Albert. Princess Louise was the wife of the Marquess of Lorne, the Governor General of Canada from 1878 to 1883.
• The total population of Alberta is approximately 3.62 million as of January 2009.
• Alberta is in the west of Canada, next to westernmost British Columbia, the coastal province on the Pacific. Alberta’s border to the west, with B.C., is mostly formed by the Rocky Mountains. To the north, Alberta borders the Northwest Territories, to the east the province of Saskatchewan, and to the south the American state of Montana.
• Alberta is the fourth largest province in Canada. It is similar in size to Texas, three times the size of Great Britain or equal to the combined areas of France, Switzerland, Belgium and the Netherlands.
• The province has a diversity of natural terrain—parklands, grasslands, primordial badlands, vast tracts of wildlands, boreal forests and plains, ancient glaciers, thousands of lakes and rivers, and mountain ranges that run the length of North and South America.
• More than 12 per cent of Alberta’s total land area is protected in 500 provincial parks, five national parks, and four national wildlife areas. Five of Canada’s 14 UNESCO World Heritage Sites are in Alberta, including Jasper National Park, 370 km from Edmonton.
• Alberta is home to a pair of the world’s most magnificent skiing areas, in Banff and Jasper National Parks in the Rocky Mountains. Much of northern Alberta is boreal forests, which offer great cross-country skiing and wildlife viewing.
• Alberta offers the lowest income tax rates in Canada and some of the lowest in North America.
• Canada’s economic driver, Alberta has consistently led in annual rates of growth and job creation. While natural resources, particularly petroleum products, were long the base of Alberta’s economic success, the province’s economy today is diverse and sophisticated.
• Alberta is the world’s second-largest exporter of natural gas.

The World and Your Backyard

Life in Fort McMurray has certainly slowed down since the oil prices dropped. Things haven't stopped though.

The city where there were never enough workers now has a chance to pick and choose rather than hire the first body that walks in. The infrastructure that couldn't house a population that tripled can now catch up and improve housing.

“When you take a population that has doubled and is on its way to tripling, every piece of infrastructure you can think of is still in a catch-up phase,” “This is a golden opportunity to get caught up to some of those needs and be better prepared.” Fort McMurray Mayor Melissa Blake

“Now is an opportunity for us to be more competitive,” “Because we are local, we don’t carry the living-out allowances, we don’t have the high costs of travel expenses. Our people come from the community.” Nicole Bourque-Bouchier, president of the Northeastern Alberta Aboriginal Business Association.
“I don’t think the growth will be anywhere as intense as it has been, but I don’t think it will subside,” “It’s a matter of keeping in mind what is going on around the world and what that means in our own back yard.” Fort McMurray Mayor Melissa Blake

A History Of The Oilsands

Recent news of the oil sands generally focuses on current per barrel prices or whether or not the U.S will buy into Canada's vast oil wealth. Unfortunately the oil sands rich and varied past is often neglected.

The history of the sands is a surprisingly thrilling read that one woman has spent over 20 years researching and chronicling. Joyce Hunt a Canadian historian is on a mission to tell the tales of the many people drawn to the oil in northern Alberta between 1905 and 1930.

"There is much more to the story. I want to write about the people who are unknown and obscure and have been hiding there," "Nobody else has been weird enough to do this." Joyce Hunt Historian

Read Oilsands Review interview with Hunt

This And That

Obama: Invest in Canadian Oilsands or Be Held Hostage - "Russia bullies its European energy customers; Saudi Arabia, Iran and others export terrorism; Nigeria is unstable and Venezuela's Hugo Chavez spews hate. This means there is little choice for the U.S. and the world, but to embrace, and possibly finance, Alberta's gigantic oil sands.
True the Canadian oil made from these sands is dirtier than Saudi crude, but the choice is dirty oil from a clean regime (Canada) or cleaner oil from dirty regimes.
Besides, the oil sands production process can be cleaned up with investments in carbon recapture and research into more efficient refinery methods that use less natural gas and water."

The oilsands production process can and is being cleaned up constantly by innovative and ecological alternatives. Like this:

Renewables could power Alberta, says think-tank Pembina Institute says switch feasible - "Alberta can switch its electricity source from coal to clean renewable energy sources in 20 years, creating jobs, reducing greenhouse gas emissions and creating a more stable price for energy, says a report released this week.

There are no technological barriers standing in the way of this vision, but it will take political leadership and consumer demands to make it happen, says one of the authors of the report from the Pembina Institute environmental think-tank."

Edmonton's jobless rate among lowest in Canada - "Alberta’s unemployment edged up in December as 15,800 jobs vanished, but the province continued to lead the country with the lowest jobless rate by a wide margin, Statistics Canada said Friday.

And Edmonton’s 3.6 per cent unemployment rate — up just 0.1 per cent from November — was the lowest among major cities in Canada, tied with Regina and Victoria. Calgary’s rate is at 3.9 per cent."

Alberta Economic Highlights

The latest economic forecasts from the government of Alberta proves the province is an economic rock in Canada.

Some highlights include:

Alberta's population growth continues to outpace the rest of the nation

Increased crop production expected in 2008

Drilling activity picking up

Canadian Real GDP rises for the second straight month

Latest string of data paints a gloomy U.S. economic outlooks

Download your copy here

Rich Kids

Thank goodness I realized my money skills weren't up to par when I was young enough to make the significant changes necessary to ensure I wouldn't be worried about money at retirement. For the 35% percent of Canadians that are losing sleep at night it's time to take a course, read a book and make the changes necessary.

One thing seriously lacking is a foundation in money management for kids. Although I can still spell antidisestablishmentarianism thanks to Ms. Carroll in grade 4 - one thing I never learned in school was how to make a budget or even balance my cheque book. Now kids have more options as parents are themselves seeing what is missing in their own financial education.

"We teach the kids that money makes you more of what you already are," "You as a person determine how the money will show up in your life and how you use it." Kim Deep president of Kidz Make Cents a company providing youth with financial education

The government of Alberta has a series of courses you can take to improve your financial savvy, like Money 101 for teens and there are many private organizations that can help you or your children learn how to make money not waste it.

Find a course near you!

Alberta On BBC Women's Hour

I get the Women's Hour Podcast from BBC and throughly enjoy listening to it whenever I'm driving in my car. I was surprised to hear that the Alberta government went to the U.K to entice immigration to Canada. It's a short snippet and the link will probably expire in 7 days but if you care to listen here it is.

Listen to BBC Women's Hour

New Apple Store Largest In Canada

West Edmonton Mall used to have the largest everything, although it has lost a lot of it's superlative status it does once again have a biggest - The largest Apple store in Canada.
The opening saw 600 people lined up some as early as the day before.

I can only assume Apple feels that Edmonton ranks along with Toronto, Vancouver and Montreal as crucial sales points due to it's growing population and strong economy.

The Kyoto Accord

Recently amidst the reports of global warming, increased oil sands production and a noticably warmer winter in Japan (the cherry blossoms have started to bloom already in some areas) the Kyoto accord has been in the news almost daily.

I, in truth, know very little about the Kyoto Accord and looked on Wikipedia for a complete and detailed explanation of the Accord and its affect on our future.

This is from the Canadian subsection

" In 2005, the result was limited to an ongoing "war of words", primarily between the government of Alberta (Canada's primary oil and gas producer) and the federal government. There were even fears that Kyoto could threaten national unity, specifically with regard to Alberta. As of 2003, the federal government claimed to have spent or committed 3.7 billion dollars on climate change programmes.[20] By 2004, CO2 emissions had risen to 27 per cent above 1990 levels (which compares unfavorably to the increase in emissions by the United States of 16 per cent by that time).[21]
After January 2006, the Liberal government was replaced by a Conservative minority government under Stephen Harper, who previously has expressed opposition to Kyoto, and in particular to the plan to participate in international emission trading. Rona Ambrose, who replaced Stéphane Dion as the environment minister, has since endorsed some types of emission trading, and indicated interest in international trading.[22]"

"Under the Kyoto accord, negotiated and ratified by the Liberals over Tory opposition, Canada is committed to a six per cent cut in greenhouse emissions from 1990 levels by 2012.

Experts say the target is likely not achievable through domestic action alone, but could be met through purchasing credits in UN-approved emissions-cutting projects abroad. " Yahoo Canada

This means increased production in the Oilsands will not help Canada achieve the target by 2012 but through purchasing credits, new extraction technology and other means Canada could still meet the target through helping with other projects abroad.