Canada is rich in oil, wood and ore with pretty well every milled product you can think of such as iron, copper, uranium to mention a few. The bulk of this is a major factor in driving our economy and creating jobs with export dollars ranging in the billions each year.
Years ago, companies didn’t see much interence as they went about their business ‘harvesting’ our resources and some owners became ultra rich wanting more.
Today, it’s a differnt story where environmental concerns come more into play, and then there’s the ‘keep our planet Green’ movement as well as the native people where exploration and development is moving more on their lands.
Oil is back in the news here in a big way, Development of more pipelines out west to ‘export facilities’ on the coast of BC, loaded onto supertankers for Asian destinations. Trump’s first major move into Canada is about sending an aide into Alberta to talk oil and restart the proposal for a pipeline that will run from Alberta to Houston,Texas and the Gulf of Mexico ports.
All this has stirred up the ‘Green’ movement and the native people big time. In the past there have been breaks and vandalism causing spills so that’s a major concern. But. it’s about business, jobs and tax dollars for the provincial and federal governments pushing these projects through to completion
Overall, Oil is expected to stay in a ‘glutted’ position going into 2017 with the oversupply and storage of the black stuff, currently bouncing around in the mid to high 40 dollar range, US
That kind of puts a damper of the Fed’s announcement that the use of coal to fuel plants in Canada will be stopped by 2030 with a few exceptions.
Meanwhile, in the Biz … the Admin crew of Traffic Power Line have been fairly quiet over the last couple of months resuming major updates with a webinar, scheduled for this Sunday. It will be interesting to see what the latest developments are and how they will affect yours truly in a positive way, as well as the membership.