B.C.’s emissions reduction targets remain out of reach

Absent a wholesale restructuring of the economy, meeting the 2030 goal will be an impossible task

B.C.’s emissions reduction targets remain out of reachBy Jock Finlayson and Denise Mullen Business Council of B.C. Targets. We all know what they mean, or think we do. Several words convey essentially the same notion – e.g., goals, objectives, ambitions and intentions. The idea is about getting something accomplished at some point in the future. This brings us to B.C.’s  greenhouse gas…

Oil industry facing (c)rude awakening

The game is up: Oil and gas companies can no longer mask their financial frailty

Oil industry facing (c)rude awakeningThe decline in oil demand accelerated by Covid-19 may be a sign of the future. Forty publicly-traded U.S. oil producers wrote down a collective $48 billion worth of the value of their assets in the first quarter of 2020, the U.S. Energy Information Administration reported. Quoting Deloitte, Oilprice.com points out that the collapse in crude…

Safe, nimble, creative: restarting B.C.’s economy

How to mitigate job loss, fear and uncertainty for workers as British Columbia navigates its post-pandemic recovery

Safe, nimble, creative: restarting B.C.’s economyCOVID-19 represents the largest labour market disruption in British Columbia’s history. Uncertainty and fear among businesses, workers and customers about the pandemic affect how we grasp the new normal and move beyond the crisis. They will only resume their lives and work when they feel safe, and see very low-risk pathways back to commerce and…

Natural resources GDP on the decline in Canada

Oil sands extraction declined largely because of shutdowns and maintenance of some production facilities. Crude oil extraction also falls

Natural resources GDP on the decline in CanadaThe natural resources sector in Canada continues to be challenged. A new report released Friday by Statistics Canada said real gross domestic product (GDP) of the natural resources sector fell 2.2 per cent in the third quarter, following a 2.8 per cent rise in the second quarter.  The federal agency said the decline was largely…

Canadian drilling forecast continues to cool

Capital, companies, equipment and crews are leaving Canada for better opportunities, with the U.S. an easy choice: PSAC

Canadian drilling forecast continues to coolThe Petroleum Services Association of Canada has decreased its forecast for the number of wells expected to be drilled across Canada for this year. In its third update to its 2019 Canadian Drilling Activity Forecast, PSAC revised its number from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC now projects 2,425 wells to be…

How mismanagement of B.C. forests is hurting Canada’s economy

Recent sawmill closures have exposed a raft of problems in the industry and government failure to ensure long-term productivity

How mismanagement of B.C. forests is hurting Canada’s economyRecent sawmill closures in British Columbia have brought to light the need for renewed focus on the mismanagement of B.C. forests over the past decades and what to do about it. That mismanagement is having a significant effect on the B.C. and Canadian economies. If you live in the B.C. interior, where more than 820…

AltaGas officially launches B.C. propane export terminal

The Prince Rupert facility is expected to ship approximately 1.2 million tonnes of propane annually to customers in Asia

AltaGas officially launches B.C. propane export terminalCalgary-based AltaGas Ltd., an energy infrastructure company with a focus on regulated utilities, midstream, and power, announced on Tuesday the grand opening of its Ridley Island Propane Export Terminal (RIPET), located in Prince Rupert, B.C. It’s the first marine export facility for propane in Canada. The company said the facility began introducing propane feedstock in…

B.C. won’t be able to quit fossil fuels any time soon

The results of greater energy efficiency will materialize over the long term, even if politicians seek abbreviated timelines

B.C. won’t be able to quit fossil fuels any time soonJock Finlayson and Denise Mullen Business Council of B.C. Metro Vancouver residents are rightly upset over paying the highest gasoline prices ever recorded in a North American city. Cost-of-living pressures are already significant for many households in British Columbia, making the recent jump in pump prices particularly hard to stomach. The unprecedented attention being given…

B.C. money-laundering crackdown carries hidden costs

The province needs to get its house in order. That means, among other things, good old-fashioned police work

B.C. money-laundering crackdown carries hidden costsBritish Columbia is hardly a tax haven in the mould of Panama, yet organized crime has still established a foothold for laundering,– according to some estimates, $1 billion or more a year. Until last year, despite mounting activity, the problem flew under the radar. Now several reports have made their way to the media and…

Global technology leader Cisco investing $15 million in Western Canada

Funding and testing innovations in areas such as the oil and gas sector, health-care digitization and environmental protection

Global technology leader Cisco investing $15 million in Western CanadaGlobal technology leader Cisco is investing $15 million to enhance its Western Canadian presence. “Getting the most out of the digital world of tomorrow means investing and preparing for it today,” said Rola Dagher, president of Cisco Canada, in making the announcement on Wednesday in Calgary. “The commitments announced today build on our strong track…