The volatility of international oil markets hit home again earlier this week, as crude prices tumbled to their lowest levels in more than a year. Just a couple of weeks ago, West Texas Intermediate (WTI) prices — North America’s benchmark for crude oil — were around $75 US a barrel. This week, prices skidded to … Read more
China said on Tuesday it plans to start an anti-dumping investigation into canola imports from Canada, after Ottawa moved to impose tariffs on Chinese electric vehicles, lifting prices of domestic rapeseed oil futures to a one-month peak. Canada has followed the lead of the United States and European Union, and announced last week a 100 … Read more
Extreme weather events like fires, floods, heat waves and droughts pose an increasing risk to Canada’s food supply chain, putting pressure on prices all the way to the grocery store shelf, say experts. “Anytime you have major weather-related events, it tends to increase costs,” said Frank Scali, vice-president of industry affairs at Food, Health & … Read more
Tangible assets like gold appreciate over time because they are limited in supply, have universal demand, and are highly exchangeable worldwide. Gold has been seen as a sign of wealth for many centuries. Its intrinsic store of value and negative correlation to stock markets have made it one of the few asset classes that reached … Read more
As the urban centre at the heart of Canada’s oilsands industry, Fort McMurray has seen more than its share of ups and downs. A decade and a half ago, the northern Alberta community was this country’s most famous boom town. High oil prices helped to drive unprecedented demand for the thick, viscous bitumen that lies … Read more
In her budget speech to the House of Commons on Tuesday, Finance Minister Chrystia Freeland took a moment to celebrate the finishing touch on expansion of the Trans Mountain oil pipeline. The controversial project has been plagued by delays and massive cost overruns, but Freeland instead focused on its completion, highlighting the: “talented tradespeople and the brilliant … Read more
Despite growing frustrations and prolonged negotiations with the federal government, a consortium of Canada’s largest oilsands companies is optimistic about having a “line of sight” in securing the certainty it needs from Ottawa to advance its proposed $16.5-billion carbon capture pipeline project. The Pathways Alliance is not expecting any new commitments in the upcoming federal … Read more
Trans Mountain’s announcement that its expanded oil pipeline would start commercial operations on May 1 has surprised analysts with an earlier-than-expected commencement on the long-delayed $34 billion project. The federal government-owned company set the date late on Wednesday, having previously said startup would happen in the second quarter. Canada is the fourth-largest oil producer but output has been … Read more
British Columbia grain farmer Malcolm Odermatt says all he can do is pray for rain this spring after repeated droughts sabotaged his harvest last year. Odermatt, who is also the president of the B.C. Grain Growers Association, has been working with his father since 2012 to farm about 2,000 acres of land in the Peace … Read more
Netflix took a big step into live events on Tuesday with a more than $6.7 billion ($5 billion US) deal that would make it the exclusive home of World Wrestling Entertainment’s Raw from January 2025 onward. The 10-year partnership will put Raw on the streaming platform in the U.S., Canada, United Kingdom and Latin America, among other territories, the companies said. Outside … Read more
