Investment

Letters, Nov. 2: Federal spending lacks accountability

Published

1 year ago

November 2, 2023

Finance Minister Chrystia Freeland just announced a $90-million “investment” in Eor Technologies Inc., an Alberta geothermal energy company with one project, in Germany.

While geothermal energy sounds nice, “investment” means you expect a return on your money within a reasonable time. Which raises the question, is this a genuine investment or just Libspeak for corporate welfare?

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Edward Sager, Cochrane

No ‘special treatment,’ just aim for fair

Will the recent and timely realization by the federal government that provinces and territories all have distinct and different requirements put to bed Environment Minister Steven Guilbeault’s declaration that there will be no “special treatment” for any province?

Will it extend its rational, understandable and necessary concession to the Maritimes (a three-year moratorium on carbon tax on heating oil) to include an extension of the 2035 deadline for net zero (to 2050) in our power generation sector?

Alberta lacks the hydroelectric generation capacity to ensure baseload security when renewables will not be able to fill the gap.

Are we witnessing a fissure of enlightenment opening in Ottawa, or is it just politics?

Bob Mackan, Strathmore

Share the risks of Alberta pension plan

All the government-produced information about the proposed Alberta pension plan is missing some key information — the potential downsides. And any sensible person realizes that there must be some. What are they?

It’s hard to take the UCP government and this proposal seriously when they only talk about the potential upside.

The government is like a teenager trying to convince their parents about a get-rich-quick scheme — they can only see the money and totally miss the potential pitfalls along the way to getting it.

I challenge our government to start having an adult conversation about the proposed APP and balance the potential windfall commentary with the potential pitfalls and downside. Let’s approach this discussion like adults and take off the rose-coloured glasses.

Jim Muirhead, Calgary

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Story of lasting love is inspiring

Re: Brothers who married 70 years apart, Oct 28

Thanks for such a lovely, heartwarming story. It is amazing to read stories of such long-lasting love, especially in the days of high divorce.

Their families are lucky to have longevity in their blood.

Marion Chambers, Calgary

Let facts trump ‘feelings’ on APP

Alberta Finance Minister Nate Horner says the province’s decision on whether to hold a referendum on leaving the Canada Pension Plan will be based on a “high-level feeling from many sources.”

This is something I would expect a kindergarten teacher to say about whether to put on a Christmas pageant for parents. Not something from a government looking to make long-reaching economic changes that will affect future generations.

What will constitute “high-level feelings”? Shouting and insults from the far right or far left? Animosity toward Ottawa? Pushback from other provinces and territories?

Or just a feeling of being hard done by — as your advertising and survey campaign is shooting for.

Ken Bax, Airdrie

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

3 weeks ago

October 16, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

4 weeks ago

October 11, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

4 weeks ago

October 10, 2024

Anne Joseph

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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