🇨🇦🇮🇱 Trudeau, Poilievre and others across political spectrum rally in support of Israel
Canadian politicians from across the political spectrum gathered at solidarity rallies in support of Israel on Monday as the country's war with Hamas rages on.
In Ottawa, both Prime Minister Justin Trudeau and Conservative Leader Pierre Poilievre attended a rally in support of Israel.
"Canada unequivocally and in the strongest possible terms condemns these terrorist attacks perpetrated by Hamas. We stand with Israel and reaffirm our support for Israel's right to defend itself in accordance with international law," Trudeau said Monday night.
In Canadian cities, as in many other countries, rallies were held over the weekend expressing support for an independent Palestinian state. Some rally attendees disavowed Hamas, while others refused to condemn its actions.
#Trudeau #Poilievre #Israel
🍁 Maple Chronicles
Canadian politicians from across the political spectrum gathered at solidarity rallies in support of Israel on Monday as the country's war with Hamas rages on.
In Ottawa, both Prime Minister Justin Trudeau and Conservative Leader Pierre Poilievre attended a rally in support of Israel.
"Canada unequivocally and in the strongest possible terms condemns these terrorist attacks perpetrated by Hamas. We stand with Israel and reaffirm our support for Israel's right to defend itself in accordance with international law," Trudeau said Monday night.
In Canadian cities, as in many other countries, rallies were held over the weekend expressing support for an independent Palestinian state. Some rally attendees disavowed Hamas, while others refused to condemn its actions.
#Trudeau #Poilievre #Israel
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🇨🇦🇮🇱🇵🇸CBC leaked emails tell reporters to not use 'terrorist' in Hamas coverage
The Canadian Broadcasting Corporation gave strict guidelines to reporters on using the term "terrorist" in their coverage of Israel's war with Hamas, leaked emails reveal.
"Do not refer to militants, soldiers or anyone else as ‘terrorists.’ The notion of terrorism remains heavily politicized and is part of the story," CBC's director of journalistic standards, George Achi, wrote in an email to employees on Saturday.
"Even when quoting/clipping a government or a source referring to fighters as ‘terrorists,’ we should add context to ensure the audience understands this is opinion, not fact," he added.
🍁 Maple Chronicles
The Canadian Broadcasting Corporation gave strict guidelines to reporters on using the term "terrorist" in their coverage of Israel's war with Hamas, leaked emails reveal.
"Do not refer to militants, soldiers or anyone else as ‘terrorists.’ The notion of terrorism remains heavily politicized and is part of the story," CBC's director of journalistic standards, George Achi, wrote in an email to employees on Saturday.
"Even when quoting/clipping a government or a source referring to fighters as ‘terrorists,’ we should add context to ensure the audience understands this is opinion, not fact," he added.
🍁 Maple Chronicles
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Canada to welcome 11,000 migrants from the Americas starting this fall: minister
Canada is set to welcome 11,000 migrants from Colombia, Haiti and Venezuela this fall, immigration minister Marc Miller said.
In March of this year, Canada had promised it would welcome 15,000 migrants from the western hemisphere over the course of the year. On Tuesday, Miller said Canada was creating a “new humanitarian permanent residence pathway” for 11,000 migrants from three countries.
🔹The principal applicant, regardless of age, must be a child, grandchild, spouse, common-law partner, parent, grandparent or sibling of a Canadian citizen or permanent resident.
New permanent residents under this program will be offered “enhanced pre-arrival services,” which include an employment skills assessment and a referral to a settlement provider organization in their intended community.
🍁 Maple Chronicles
Canada is set to welcome 11,000 migrants from Colombia, Haiti and Venezuela this fall, immigration minister Marc Miller said.
In March of this year, Canada had promised it would welcome 15,000 migrants from the western hemisphere over the course of the year. On Tuesday, Miller said Canada was creating a “new humanitarian permanent residence pathway” for 11,000 migrants from three countries.
🔹The principal applicant, regardless of age, must be a child, grandchild, spouse, common-law partner, parent, grandparent or sibling of a Canadian citizen or permanent resident.
New permanent residents under this program will be offered “enhanced pre-arrival services,” which include an employment skills assessment and a referral to a settlement provider organization in their intended community.
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🪖Canadian soldiers asking for donations to help with housing, food costs, memo says
The military’s chaplain-general says morale among troops is the lowest it’s been in recent memory as many soldiers struggle with the cost of living.
In a briefing note sent to the chief of the defence staff, Gen. Wayne Eyre, chaplains say more Armed Forces members have been asking for help to make ends meet.
The chaplains note that they expect donations to Together We Stand, a non-profit that supports military families, to double this year. However, they say that is a short-term solution.
Some soldiers have said they’re considering releasing from the military to avoid postings in certain locations.
Recent changes to the military’s housing allowance have created new challenges for some. The Armed Forces announced in March that the new allowance will be based on salary, rather than where a soldier is posted.
🍁 Maple Chronicles
The military’s chaplain-general says morale among troops is the lowest it’s been in recent memory as many soldiers struggle with the cost of living.
In a briefing note sent to the chief of the defence staff, Gen. Wayne Eyre, chaplains say more Armed Forces members have been asking for help to make ends meet.
The chaplains note that they expect donations to Together We Stand, a non-profit that supports military families, to double this year. However, they say that is a short-term solution.
Some soldiers have said they’re considering releasing from the military to avoid postings in certain locations.
Recent changes to the military’s housing allowance have created new challenges for some. The Armed Forces announced in March that the new allowance will be based on salary, rather than where a soldier is posted.
🍁 Maple Chronicles
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New details about $20M Toronto airport gold heist revealed in Brink's suit against Air Canada
The shock Toronto airport heist of $20 million in gold bars — weighing 400.19 kilograms — along with US$2 million in cash was as easy as walking into Air Canada’s cargo facility, showing a false waybill, and leaving with the enormous haul, according to a lawsuit filed in court.
It was gone 42 minutes after it was unloaded from a plane arriving from Switzerland and transferred to a supposedly secure warehouse on the periphery of Toronto’s Pearson airport, according to the statement of claim.
The theft, one of the largest in Canadian history, remains unsolved by police. Brink’s, a secure transport company, is now suing Air Canada over the lost loads.
The lawsuit paints the clearest picture yet of how April’s airport gold heist was allegedly pulled off after months of institutional silence from police, the airline, and others involved in the theft that made headlines around the world.
🍁 Maple Chronicles
The shock Toronto airport heist of $20 million in gold bars — weighing 400.19 kilograms — along with US$2 million in cash was as easy as walking into Air Canada’s cargo facility, showing a false waybill, and leaving with the enormous haul, according to a lawsuit filed in court.
It was gone 42 minutes after it was unloaded from a plane arriving from Switzerland and transferred to a supposedly secure warehouse on the periphery of Toronto’s Pearson airport, according to the statement of claim.
The theft, one of the largest in Canadian history, remains unsolved by police. Brink’s, a secure transport company, is now suing Air Canada over the lost loads.
The lawsuit paints the clearest picture yet of how April’s airport gold heist was allegedly pulled off after months of institutional silence from police, the airline, and others involved in the theft that made headlines around the world.
🍁 Maple Chronicles
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RCMP launches investigation into Ontario's Greenbelt scandal
The Royal Canadian Mounted Police is investigating the Ontario government’s decision to open up parts of the Greenbelt for development.
According to the RCMP’s website, this unit probes “high risk matters that cause significant threats to Canada's political, economic and social integrity of its institutions across Canada and internationally.” This can include investigations into elected officials on “allegations of fraud, financial crimes, corruption and breach of trust.”
The RCMP was referred the file by the Ontario Provincial Police back in August to avoid “any perceived conflict of interest.” The provincial police’s anti-rackets branch had been reviewing complaints since mid-December.
The decision to develop on 15 areas of protected land has garnered significant backlash, with both the province’s auditor general and integrity commissioner concluding that some developers may have received preferential treatment during the process.
#Ontario
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The Royal Canadian Mounted Police is investigating the Ontario government’s decision to open up parts of the Greenbelt for development.
According to the RCMP’s website, this unit probes “high risk matters that cause significant threats to Canada's political, economic and social integrity of its institutions across Canada and internationally.” This can include investigations into elected officials on “allegations of fraud, financial crimes, corruption and breach of trust.”
The RCMP was referred the file by the Ontario Provincial Police back in August to avoid “any perceived conflict of interest.” The provincial police’s anti-rackets branch had been reviewing complaints since mid-December.
The decision to develop on 15 areas of protected land has garnered significant backlash, with both the province’s auditor general and integrity commissioner concluding that some developers may have received preferential treatment during the process.
#Ontario
🍁 Maple Chronicles
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🇨🇦🇵🇸 Federal government says it will ensure Canadian aid doesn't go to Hamas
Canada will continue delivering humanitarian and development aid to Palestinians while preventing that aid from being diverted to Hamas, says International Development Minister Ahmed Hussen's office.
"We will continue to support civilians with life-saving humanitarian aid, while ensuring that no money goes into the hands of Hamas," said Alex Tetreault, Hussen's director of communications, in an e-mail.
Tetreault said Canada has a no-contact policy with Hamas and no Canadian government aid goes directly to the Palestinian Authority.
Instead, the $55 million a year that Canada spends on development and humanitarian aid in the West Bank and Gaza goes through international aid organizations, he said.
🍁 Maple Chronicles
Canada will continue delivering humanitarian and development aid to Palestinians while preventing that aid from being diverted to Hamas, says International Development Minister Ahmed Hussen's office.
"We will continue to support civilians with life-saving humanitarian aid, while ensuring that no money goes into the hands of Hamas," said Alex Tetreault, Hussen's director of communications, in an e-mail.
Tetreault said Canada has a no-contact policy with Hamas and no Canadian government aid goes directly to the Palestinian Authority.
Instead, the $55 million a year that Canada spends on development and humanitarian aid in the West Bank and Gaza goes through international aid organizations, he said.
🍁 Maple Chronicles
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🩺 B.C. first to sign individual health deal with feds, gets $1.2 billion
The union representing tens of thousands of B.C. nurses said $1.2 billion in federal health funding over three years will be key to fulfilling’s the new nurse-to-patient ratios announced by the province’s health minister earlier this year.
Health Minister Adrian Dix and his federal counterpart, Mark Holland, were at Vancouver General Hospital on Tuesday to announce that B.C. is the first province to reach an agreement with Ottawa over new health care and mental health funding.
Dix said part of that money will be used to overhaul the approach at 83 acute care sites so nurses can spend more time with patients.
Dix announced in April that B.C. would become the first province in Canada to set rules limiting how many patients each nurse can take care of, in an effort to keep burned-out nurses from leaving the profession.
However, critics questioned whether the $750 million in provincial money over three years would be enough to hire the thousands of nurses needed to prop up a severely understaffed workforce.
The province has yet to set a date for when the nurse-to-patient ratios will come into effect, but they were a key part of the B.C. Nurses’ Union’s collective agreement ratified in May.
#BritishColumbia #healthcare
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The union representing tens of thousands of B.C. nurses said $1.2 billion in federal health funding over three years will be key to fulfilling’s the new nurse-to-patient ratios announced by the province’s health minister earlier this year.
Health Minister Adrian Dix and his federal counterpart, Mark Holland, were at Vancouver General Hospital on Tuesday to announce that B.C. is the first province to reach an agreement with Ottawa over new health care and mental health funding.
Dix said part of that money will be used to overhaul the approach at 83 acute care sites so nurses can spend more time with patients.
Dix announced in April that B.C. would become the first province in Canada to set rules limiting how many patients each nurse can take care of, in an effort to keep burned-out nurses from leaving the profession.
However, critics questioned whether the $750 million in provincial money over three years would be enough to hire the thousands of nurses needed to prop up a severely understaffed workforce.
The province has yet to set a date for when the nurse-to-patient ratios will come into effect, but they were a key part of the B.C. Nurses’ Union’s collective agreement ratified in May.
#BritishColumbia #healthcare
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Liberals extend gun ban amnesty amid legal challenge from firearms group
The Liberal government has announced that it will extend the amnesty order for owners of prohibited firearms until October 30, 2025.
The order, which was issued on May 1, 2020, banned the possession, sale and use of nearly 1,500 types of firearms that the government deemed as “assault-style” weapons.
Ottawa also promised a buyback program to compensate the affected owners, but the details and implementation of the program have been delayed.
The extension of the amnesty order means that owners of the banned firearms will not face criminal charges for possessing them, as long as they keep them securely stored and do not use them.
🍁 Maple Chronicles
The Liberal government has announced that it will extend the amnesty order for owners of prohibited firearms until October 30, 2025.
The order, which was issued on May 1, 2020, banned the possession, sale and use of nearly 1,500 types of firearms that the government deemed as “assault-style” weapons.
Ottawa also promised a buyback program to compensate the affected owners, but the details and implementation of the program have been delayed.
The extension of the amnesty order means that owners of the banned firearms will not face criminal charges for possessing them, as long as they keep them securely stored and do not use them.
🍁 Maple Chronicles
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Judge to allow Ottawa residents to testify in 'Freedom Convoy' organizers' trial
Eight Ottawa residents will be allowed to testify at the criminal trial of two “Freedom Convoy” organizers, the presiding judge ruled Wednesday.
Tamara Lich and Chris Barber are facing charges related to their roles in organizing the protest that brought thousands of big-rig trucks to Ottawalast year, where demonstrators remained for three weeks.
Lich's lawyer Lawrence Greenspon asked the judge not to let the locals testify, arguing their testimony would be irrelevant.
Lich and Barber have already signed admissions that the actions of certain individuals who participated in the protest interfered with public transit and the lawful use and enjoyment of property and businesses.
🍁 Maple Chronicles
Eight Ottawa residents will be allowed to testify at the criminal trial of two “Freedom Convoy” organizers, the presiding judge ruled Wednesday.
Tamara Lich and Chris Barber are facing charges related to their roles in organizing the protest that brought thousands of big-rig trucks to Ottawalast year, where demonstrators remained for three weeks.
Lich's lawyer Lawrence Greenspon asked the judge not to let the locals testify, arguing their testimony would be irrelevant.
Lich and Barber have already signed admissions that the actions of certain individuals who participated in the protest interfered with public transit and the lawful use and enjoyment of property and businesses.
🍁 Maple Chronicles
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🇮🇱✈️ First Canadian government evacuation flight departs Israel
The first Canadian government evacuation flight has departed Tel Aviv for Athens with approximately 130 passengers, Defence Minister Bill Blair says.
The airlift of Canadian citizens and permanent residents out of Israel began Thursday afternoon local time.
Ottawa’s evacuation efforts are shuttling Canadians, permanent residents and their children and spouses from Tel Aviv’s Ben Gurion Airport to Athens. From there, federal officials have arranged for Air Canada aircraft to take passengers back to Canada at their own expense.
The Air Canada planes can carry 150 so the first flight Thursday was not flying at full capacity.
At a Wednesday Canadian government briefing, senior officials said about 1,000 people have contacted the Department of Global Affairs for assistance and they estimated roughly 70 per cent, or 700, were looking for an evacuation flight.
#Israel
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The first Canadian government evacuation flight has departed Tel Aviv for Athens with approximately 130 passengers, Defence Minister Bill Blair says.
The airlift of Canadian citizens and permanent residents out of Israel began Thursday afternoon local time.
Ottawa’s evacuation efforts are shuttling Canadians, permanent residents and their children and spouses from Tel Aviv’s Ben Gurion Airport to Athens. From there, federal officials have arranged for Air Canada aircraft to take passengers back to Canada at their own expense.
The Air Canada planes can carry 150 so the first flight Thursday was not flying at full capacity.
At a Wednesday Canadian government briefing, senior officials said about 1,000 people have contacted the Department of Global Affairs for assistance and they estimated roughly 70 per cent, or 700, were looking for an evacuation flight.
#Israel
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Anglophone rights should be enshrined in new Quebec constitution, Liberals say
As the Quebec Liberal Party tries to rebound from a devastating blow in the last two provincial elections, the official opposition is proposing the rights of the English-speaking community be enshrined in a new Quebec constitution.
Specifically, the committee called for the first-ever Quebec constitution to "enshrine the rights of English-speaking Quebecers, guaranteeing their existing rights to English-language services and control of their educational and health institutions."
The Liberals are set to unveil the party's new vision at a press conference in Montreal on Thursday.
#Quebec
🍁 Maple Chronicles
As the Quebec Liberal Party tries to rebound from a devastating blow in the last two provincial elections, the official opposition is proposing the rights of the English-speaking community be enshrined in a new Quebec constitution.
Specifically, the committee called for the first-ever Quebec constitution to "enshrine the rights of English-speaking Quebecers, guaranteeing their existing rights to English-language services and control of their educational and health institutions."
The Liberals are set to unveil the party's new vision at a press conference in Montreal on Thursday.
#Quebec
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Sask. Parental Bill of Rights to be introduced, notwithstanding clause invoked
The Saskatchewan government will introduce Bill 137, the Parental Bill of Rights, on Thursday morning and invoke the notwithstanding clause.
Premier Scott Moe called the legislature back early to introduce the new legislation before the fall sitting starts on Oct. 25.
Once invoked, the notwithstanding clause prevents any judicial review of the legislation in question.
The bill will be public once it is tabled in the legislature. It is expected to closely resemble a policy introduced in August regarding name and pronoun use in schools. The government required schools to receive parental permission if a student under 16 wished to be addressed by their chosen name or pronoun.
#Saskatchewan
🍁 Maple Chronicles
The Saskatchewan government will introduce Bill 137, the Parental Bill of Rights, on Thursday morning and invoke the notwithstanding clause.
Premier Scott Moe called the legislature back early to introduce the new legislation before the fall sitting starts on Oct. 25.
Once invoked, the notwithstanding clause prevents any judicial review of the legislation in question.
The bill will be public once it is tabled in the legislature. It is expected to closely resemble a policy introduced in August regarding name and pronoun use in schools. The government required schools to receive parental permission if a student under 16 wished to be addressed by their chosen name or pronoun.
#Saskatchewan
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🇨🇦🇮🇱Mélanie Joly planning Israel trip
A senior federal government official said the Canadian Foreign Minister Mélanie Joly is making plans to visit Israel shortly, but it was not clear whether she will make it by Friday or Saturday.
Prime Minister Justin Trudeau, meanwhile, declined to criticize Israel’s siege of Gaza after the attacks by Hamas when asked by media for his position on the action.
“Israel has the right to defend itself in accordance with international law,” Mr. Trudeau said during a visit to Yellowknife.
“We continue to look for ways to support civilians – both Palestinians and Israelis, and ensure that as many civilians as possible are kept safe during this terrible conflict.”
#Israel #Trudeau
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A senior federal government official said the Canadian Foreign Minister Mélanie Joly is making plans to visit Israel shortly, but it was not clear whether she will make it by Friday or Saturday.
Prime Minister Justin Trudeau, meanwhile, declined to criticize Israel’s siege of Gaza after the attacks by Hamas when asked by media for his position on the action.
“Israel has the right to defend itself in accordance with international law,” Mr. Trudeau said during a visit to Yellowknife.
“We continue to look for ways to support civilians – both Palestinians and Israelis, and ensure that as many civilians as possible are kept safe during this terrible conflict.”
#Israel #Trudeau
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🌱Supreme Court rules environmental impact legislation largely unconstitutional
Canada's top court has delivered a highly anticipated judgment, writing in a majority opinion that Ottawa's Impact Assessment Act (IAA) is largely unconstitutional.
The IAA, previously known as Bill C-69, allows federal regulators to consider the potential environmental and social impacts of various resource and infrastructure projects. It was enacted in 2019.
The IAA has long been controversial among conservative politicians in Alberta, including former premier Jason Kenney, who frequently referred to it as the "no more pipelines act."
Alberta previously filed a constitutional challenge with the Alberta Court of Appeal, and was supported by the governments of Saskatchewan and Ontario, three First Nations and the Indian Resource Council. Various environmental and legal groups, as well as other First Nations, supported Ottawa.
#Alberta
🍁 Maple Chronicles
Canada's top court has delivered a highly anticipated judgment, writing in a majority opinion that Ottawa's Impact Assessment Act (IAA) is largely unconstitutional.
The IAA, previously known as Bill C-69, allows federal regulators to consider the potential environmental and social impacts of various resource and infrastructure projects. It was enacted in 2019.
The IAA has long been controversial among conservative politicians in Alberta, including former premier Jason Kenney, who frequently referred to it as the "no more pipelines act."
Alberta previously filed a constitutional challenge with the Alberta Court of Appeal, and was supported by the governments of Saskatchewan and Ontario, three First Nations and the Indian Resource Council. Various environmental and legal groups, as well as other First Nations, supported Ottawa.
#Alberta
🍁 Maple Chronicles
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🌝 Partial solar eclipse to be visible across Canada on Saturday
On Saturday, the moon is going to take a bite out of the sun. Just how much, depends on where you are in the country.
The celestial event is part of an annular eclipse, an event where the moon doesn't entirely cover the face of the sun, but instead leaves something viewers like to call a "ring of fire."
Though Canada isn't in a position to view the annular eclipse, it will experience a partial eclipse.
Annular eclipses occur when the moon happens to be further away from Earth in its orbit and doesn't cover the sun entirely.
🍁 Maple Chronicles
On Saturday, the moon is going to take a bite out of the sun. Just how much, depends on where you are in the country.
The celestial event is part of an annular eclipse, an event where the moon doesn't entirely cover the face of the sun, but instead leaves something viewers like to call a "ring of fire."
Though Canada isn't in a position to view the annular eclipse, it will experience a partial eclipse.
Annular eclipses occur when the moon happens to be further away from Earth in its orbit and doesn't cover the sun entirely.
🍁 Maple Chronicles
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🎓💰University tuition to double for out-of-province students in Quebec starting next year
As of Fall 2024, Canadian students from outside Quebec who come to study at a university in the province will pay twice as much in tuition.
The Quebec government made the announcement on Friday, framing it as a move to stop subsidizing students from the rest of Canada who come to Quebec's English-language universities for a cheaper education.
The minimum cost for out-of-province students to study in Quebec is currently set at $8,992. With the change, it will rise to about $17,000, said Pascale Déry, the province's minister of higher education.
All of the extra money will go to the Quebec government. That money, which is expected to amount to about $110 million every year, will be used in part to fund Quebec's French-language universities.
International students will also see their tuition fees climb, with a minimum rate of about $20,000, Déry said.
However, out-of-province and international students who have already started their studies in Quebec will not be paying the additional fees.
#Quebec
🍁 Maple Chronicles
As of Fall 2024, Canadian students from outside Quebec who come to study at a university in the province will pay twice as much in tuition.
The Quebec government made the announcement on Friday, framing it as a move to stop subsidizing students from the rest of Canada who come to Quebec's English-language universities for a cheaper education.
The minimum cost for out-of-province students to study in Quebec is currently set at $8,992. With the change, it will rise to about $17,000, said Pascale Déry, the province's minister of higher education.
All of the extra money will go to the Quebec government. That money, which is expected to amount to about $110 million every year, will be used in part to fund Quebec's French-language universities.
International students will also see their tuition fees climb, with a minimum rate of about $20,000, Déry said.
However, out-of-province and international students who have already started their studies in Quebec will not be paying the additional fees.
#Quebec
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Calgary continues water restrictions amid drought
This year’s tinder-dry conditions have been drastically working against southern Alberta crops.
Calgary continues to see record low levels in the Bow and Elbow Rivers, and a statement from Calgary Water Services says, that restrictions are in place to help sustain Calgary’s water supply in the Glenmore reservoir.
A heavy snow pack this winter will be key for a crop rebound in southern Alberta.
#Alberta
🍁 Maple Chronicles
This year’s tinder-dry conditions have been drastically working against southern Alberta crops.
Calgary continues to see record low levels in the Bow and Elbow Rivers, and a statement from Calgary Water Services says, that restrictions are in place to help sustain Calgary’s water supply in the Glenmore reservoir.
A heavy snow pack this winter will be key for a crop rebound in southern Alberta.
#Alberta
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Trans Mountain pipeline has cost Canada $35B. Can Ottawa make it back?
Canada faces an uphill battle to recoup the roughly $35 billion in taxpayers’ money it has sunk into the Trans Mountain oil pipeline, as uncertainty over shipping tolls and a limited pool of buyers cloud the asset’s unique strategic value.
The federal government plans to sell Trans Mountain once a long-delayed expansion to nearly triple the flow of crude from Alberta to Canada’s Pacific Coast is completed early next year. Last month, Ottawa started informal talks with Indigenous communities located along Trans Mountain’s path, an early step in divesting the soon-to-be 890,000 barrel-per-day pipeline.
The sale, however, has seen muted interest from other pipeline operators due to higher financing costs, while long-term investors like the pension funds are likely to steer clear on concerns about exposure to fossil fuel assets, analysts said.
Prime Minister Justin Trudeau’s Liberal government bought Trans Mountain in 2018 for $4.5 billion to rescue the expansion project, which has struggled with years of regulatory delay and massive cost overruns. He argued it was needed to alleviate a crude transportation bottleneck that costs Canadian oil producers billions annually in forgone export revenue.
#Alberta #BritishColumbia
🍁 Maple Chronicles
Canada faces an uphill battle to recoup the roughly $35 billion in taxpayers’ money it has sunk into the Trans Mountain oil pipeline, as uncertainty over shipping tolls and a limited pool of buyers cloud the asset’s unique strategic value.
The federal government plans to sell Trans Mountain once a long-delayed expansion to nearly triple the flow of crude from Alberta to Canada’s Pacific Coast is completed early next year. Last month, Ottawa started informal talks with Indigenous communities located along Trans Mountain’s path, an early step in divesting the soon-to-be 890,000 barrel-per-day pipeline.
The sale, however, has seen muted interest from other pipeline operators due to higher financing costs, while long-term investors like the pension funds are likely to steer clear on concerns about exposure to fossil fuel assets, analysts said.
Prime Minister Justin Trudeau’s Liberal government bought Trans Mountain in 2018 for $4.5 billion to rescue the expansion project, which has struggled with years of regulatory delay and massive cost overruns. He argued it was needed to alleviate a crude transportation bottleneck that costs Canadian oil producers billions annually in forgone export revenue.
#Alberta #BritishColumbia
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🏦 Bank of Canada won't rule out higher rates amid rising geopolitical risks
Bank of Canada Governor Tiff Macklem says higher interest rates are working to bring down inflation, but with new geopolitical unrest in the Middle East and core inflation proving “sticky,” he did not rule out further rate hikes.
“The fight against inflation is not over,” Macklem said from Marrakesh, Morocco, where he is convening with international counterparts at International Monetary Fund meetings. “We need to be prepared for ongoing volatility.”
Macklem said he believes Canada can return to the central bank’s target inflation of two per cent without triggering a major economic slowdown.
“We’re not expecting a recession in Canada,” Macklem said, adding that the Bank of Canada will release its outlook for the economy on Oct. 25 with the next interest rate decision.
🍁 Maple Chronicles
Bank of Canada Governor Tiff Macklem says higher interest rates are working to bring down inflation, but with new geopolitical unrest in the Middle East and core inflation proving “sticky,” he did not rule out further rate hikes.
“The fight against inflation is not over,” Macklem said from Marrakesh, Morocco, where he is convening with international counterparts at International Monetary Fund meetings. “We need to be prepared for ongoing volatility.”
Macklem said he believes Canada can return to the central bank’s target inflation of two per cent without triggering a major economic slowdown.
“We’re not expecting a recession in Canada,” Macklem said, adding that the Bank of Canada will release its outlook for the economy on Oct. 25 with the next interest rate decision.
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