For nearly two years now I have complained about the federal government’s purchase of the Trans Mountain pipeline.
I still believe it was mostly a political move.
The Trudeau government paid at least a billion more than the line was worth just so they could control whether it got built, according to their best political interests.
Not according to national interests. Or Alberta’s economic interests. But according to what was best for the Liberal Party of Canada.
They bought it so they could tell economic-minded voters in last fall’s federal election that they truly were concerned about jobs and finances. Then they deliberately went along with efforts by Indigenous radicals to delay the project in court, so they could say out of the other side of their mouths that were listening to First Nations and environmental concerns.
How is it any different, then, for the provincial United Conservative government to invest heavily in the Keystone XL pipeline to convince TC Energy to finish the project that will take over 800,000 barrels of Alberta oil to the U.S. Gulf Coast every day?
The truth is, there is a lot about the UCP move that is equally problematic with Ottawa TMX purchase.
However, there is one big difference — and I think it is the essential difference. The UCP truly want Keystone built. They’re investing in it because they believe in it.
I’ve never had full faith in the Liberals’ objectives.
It’s also critical that the Alberta government has not become the outright owner of the pipeline, the way the federal government has made itself the sole proprietor of the pipeline to the West Coast.
A private-sector company with a motive to get Keystone built remains in the driver’s seat. Important decisions over the design and construction are not being left to bureaucrats and politicians, the way they are with TMX.
For instance, remember the big fanfare last fall about work on Trans Mountain finally getting under way?
What work? Some rail cars full of new pipe got moved into position for nice photo ops. And a bit of trench got dug in Alberta where it was pretty obvious there would be few protestors.
Hmm, do you think those actions were based on real business considerations? Or is it possible they were merely symbolic, having more to do with the federal election than Trans Mountain’s bottom line?
There are huge risks to what the Kenney government is doing.
What if Donald Trump doesn’t get re-elected as U.S. president this fall and an anti-Keystone Democrat and Congress are elected? The project could get cancelled again, as it did during the Obama administration.
What if oil doesn’t come back up to $60 a barrel, as projected for 2021 and beyond? Or if Western Canadian Select lags way behind lighter grades of oil?
It was below $4 a barrel on Monday.
Moody’s, the credit rating service, actually downgraded TC Energy’s debt from stable to negative on the Alberta announcement. Moody’s was less worried about TC’s credit risk when it wasn’t building Keystone than after it said it was.
(On the other hand, the company’s share price rose by nearly seven per cent on the news.)
The way the Kenney government is investing in Keystone is smarter than the way the Trudeau government invested in Trans Mountain.
Rather than buying the line outright, it is buying $1.5 billion in shares now and guaranteeing loans of $6 billion next year. Both will be paid out once oil begins to flow in 2023.
As a taxpayer, I don’t like government intervention like this.
But in these crazy times, the Alberta boost is probably the only way to get this project done.
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
