Oil and gas producers in Alberta may very well be facing their toughest challenge to date, as the price of Western Canadian Select closed at US$5.29 Wednesday. Experts have attributed the price drop to the ongoing COVID-19 pandemic, as well…
Tag: Alberta economy
Oilsands companies in the red as blended bitumen price dips below $4 per barrel
Oilsands producers are likely losing money or barely breaking even as prices for Western Canadian Select bitumen-blend crude dipped as low as US$3.82 per barrel on Monday, analysts said. Realized prices for bitumen likely crossed into negative territory as they…
Alberta unemployment forecast to reach 9.5% amid COVID-19 pandemic: economist
TD Bank is forecasting Alberta’s economy will shrink more than 5 per cent in 2020 as the Prime Minister introduces measures attempting to soften the blow. As provincial affairs reporter Tom Vernon explains, some businesses worry they won’t be able…
Alberta unemployment rate to reach 9.5% amid COVID-19 pandemic: economic outlook
A new economic forecast released by one of Canada’s big banks on Friday projects a severe hit to Alberta’s economy this year as the world grapples with the COVID-19 pandemic. The TD Economics forecast projects a recession deeper than what…
Beaumont allows people to defer taxes, some utility payments amid COVID-19 crisis
The City of Beaumont announced new measures on Tuesday to ease the financial burden of people in the community struggling amid the ongoing COVID-19 crisis. The city is allowing both residents and businesses who are enduring financial difficulties the option…
Canadian environmental groups, unions, churches ask that potential oil bailout be for families, not companies
Some Canadian organizations are asking the federal government to focus any bailout of the oil industry on workers and families, not corporations. The request comes in an open letter to Prime Minister Justin Trudeau, released Tuesday morning and signed by…
Canmore mayor says tourist town seeing mass temporary layoffs over ongoing COVID-19 crisis
Canmore Mayor John Borrowman is no stranger to emergencies. He helped lead the tourist town through the devastating floods of 2013. But he admits the current health crisis facing the world because of COVID-19 is unlike anything before. “In many…
CNRL cuts spending, salaries as more oil producers trim capital plan
Oilsands giant Canadian Natural Resources Ltd. is joining a lengthening list of oilpatch players who are cutting 2020 capital spending due to the COVID-19 pandemic and plunging oil prices. After markets closed Wednesday, it said it will cut its capital…
Albertans react to $82B in federal aid for families & businesses
March 18 2020 7:24pm Promises of financial help due to economic impact of the coronavirus come as many employers and employees are struggling: work has all but disappeared and so have wages. Fletcher Kent has more on how Albertans are…
Alberta premier worried about layoffs as oil and gas sector struggles with coronavirus
By Staff The Canadian Press Posted March 11, 2020 2:37 pm Updated March 11, 2020 2:38 pm Smaller font Descrease article font size –A Larger font Increase article font size A+ Premier Jason Kenney says time is of the essence…