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Tag Archives: Canada

Canada’s petchem sector looks for expansions on back of domestic feedstock

Prior to the drop in oil prices during the second half of 2014, the shale revolution was putting the US in a position to become less dependent on foreign oil, fueling job creation in the oil and gas industry, and creating a manufacturing renaissance. Many countries attempted to replicate the same success that the US experienced in shale. However, the US and Canada are the only major producers of commercially viable natural gas from shale formations in the world. While large-scale commercial...

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Upstream oil execs agree: Low, long and living within means

The recent Barclays CEO Energy-Power Conference came at a crucial time in the current lower-for-longer oil price environment and clarified upstream CEOs’ plans to weather what could be 2015 all over again for a couple of more years. The gathering, which typically represents the highlight of the post-summer back-to-serious season and an important way station along the road to third-quarter conference calls, this year showed bare-bones budgets amid improving performance as key upstream...

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Canada joins the currency wars

Guest post by Norman Mogil Devaluation is now the preferred tool to reinvigorate slowing economy. On a traded-weighted basis, the US dollar is at its highest level in over a decade. Resource-based countries have seen their currencies tumble by as much as 25% and manufacturing-based economies as much as 20% in the last 12 months.  The Japanese yen, the Russian ruble, the Brazilian real, the Chinese yuan and other Asian emerging economies have all adopted a policy of allowing their currency...

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Some difficult questions for Canada’s next PM

This is an investment blog and I have tended to be agnostic about politics ts in different regions of the world, preferring to analyze the market implications of different political developments. That has been the main guiding principle of this blog.However, this is also a personal blog and I am a citizen of Canada, which is undergoing a federal election, and I am going to share my thoughts as part of my readers' weekend reading.I emigrated to Canada as a boy in 1967, left in 1994 to work in...

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Housing in Canada: A Tale of Two Markets

Guest post by Norman Mogil Canada’s housing market has diverged in recent years: Vancouver and Toronto joined other international real estate markets such as New York, London, and Sydney, while prices in other major cities remain subdued. Vancouver and Toronto housing now costs double that of comparable homes in Ottawa, Montreal and Calgary as the two most expensive cities continue to experience the fastest increase in prices and pull further away from all other regions in the country....

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Time to buy Canada?

A recent BNN report indicated that the Bank of Canada is confused as to why Canadian exports aren't picking up:Bank of Canada Governor Stephen Poloz called the persistent weakness in Canada’s non-energy exports “puzzling” in the central bank's latest assessment of the economy. And a former colleague of the central bank governor at Export Development Canada (EDC) is confused by the shortcoming in exports as well.“We can attribute some of this. But a bunch of it we can’t,” Governor Stephen...

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Canada’s “Atrocious” Turn of Events

Guest post by Norman Mogil The Governor of the Bank of Canada (BOC), Stephen Poloz, was not kidding when he warned that the first quarter of 2015 would be “atrocious.” After a respectable fourth quarter in 2014, the Canadian economy took a turn for the worse: domestic demand fell by 1.7%, owing to a huge drop in business investment, while the other components of GDP barely registered positive results (see Chart 1).    Chart 1:  Canada Real GDP Canada is still suffering from the...

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