Business
Trudeau Replaces Pipeline Uncertainty With Carbon Price Uncertainty
By announcing a hefty price on carbon, Prime Minister Justin Trudeau seems to be moving closer to finally approving an oil export pipeline.
But he is also creating a new problem: His targeted minimum price on carbon emissions is so high, how it will be implemented so unclear, he’s replacing pipeline uncertainty with carbon price uncertainty — hardly the recipe to restore investor confidence in beaten down Canadian oil and gas.
“We already have a highly uncertain policy environment in Canada now, here in Alberta especially with the NDP changes that have come so fast and furious it’s almost historically unrecognizable, and this is yet another dose of uncertainty in an uncertain investment climate,” said Kenneth Green, Calgary-based senior director of natural resource studies at the Fraser Institute.
Indeed, many will be wondering whether the $50 a tonne carbon price by 2022 announced by the Prime Minister Monday, which is sure to increase the cost of producing oil in Canada along with everything else in the economy, will erode the benefit of the bump in oil prices expected from increased pipeline capacity.
“Life just became more expensive in Canada, all businesses became more uncompetitive, and yet we have no accountability for the use of funds,” warned Jeff Tonken, president and CEO of Birchcliff Energy Ltd. “Eventually the economy will break.”
As details of the tax are sorted out, and legal and political battles fought, the smart money eager to capitalize on an oil price recover will continue to flow to the U.S., where pipelines are available, oil is being exported to world markets without impediments, oil resources are just as abundant, there is no national carbon tax — and none is on the horizon.
When all is said and done, Trudeau will either look brilliant for positioning Canada as a leader in low-carbon energy production, or naive for increasing Canada’s costs while others grab its market share.
But Trudeau believes “there is no hiding from climate change.” He said his government would impose a national price on carbon starting in 2018 at $10 a tonne, rising by $10 a year until it reaches $50 in 2022. He said provinces would keep the revenues under the new program.
The fast-approaching $50 a tonne target is more aggressive even than what Alberta’s money-grabbing NDP had in store, and there are no guarantees it won’t escalate further. Rachel Notley’s government will be charging $20 per tonne of carbon emissions on Jan. 1, rising to $30 a tonne in 2018. She has demanded federal approval of a pipeline to ease the economic pain of such an aggressive federal goal.
The national carbon price will hit fossil-fuel reliant economies, such as Alberta and Saskatchewan, the hardest.
Alberta’s oilsands industry, for one, is a big consumer of natural gas, and so are Albertans, who use a lot of natural gas for heating.
For sure, decisions to invest in new oil production will be more difficult, said Green.
“If you are looking at long term plays and your uncertainty level is high because of the (Alberta) climate leadership plan, and the 100 megatonne cap (on oilsands emissions), and all the other balls that are in the air that are generating a massive amount of uncertainty in the sector, the carbon tax is going to make it worse,” Green said.
Ottawa’s move is risky given the fragile state of Canada’s oil sector. According to an industry outlook by the Conference Board of Canada, it’s on track for another bleak year. After recording losses of $11 billion in 2015, the Conference Board expects Canada’s oil extraction industry to take a further $10 billion in losses this year. Economist Carlos Murillo predicted a return to black in the second half of 2017 as oil prices gradually recover.
Murillo agrees the carbon tax adds uncertainty to the economics of future energy projects, but noted many companies have supported carbon pricing.
Tim McMillan, president and CEO of the Canadian Association of Petroleum Producers, said that whether the oil and gas sector remains competitive depends on how the carbon tax is implemented.
In announcing the tax, Ottawa said it wants to help energy intensive industries remain competitive and to minimize carbon leakage, McMillan noted.
“We are working toward getting as much certainty as possible and certainty is important,” he said. “In many jurisdictions in Canada, we are working through climate plans and what implementation would look like and that is just the reality of the time we are in right now.”
In the past, the sector would have fought against such aggressive targets. But with some of Canada’s major oil companies getting behind Alberta’s climate agenda last year, or openly supporting carbon taxes, they’re in a weak position to push back.
Beauty enthusiasts rejoice! Beauty Week at Hudson’s Bay is back in Toronto for another year. It’s time to stock up on all of your fall essentials and, maybe discover some new ones.
From Friday, August 18 to Sunday, August 27, you can expect a truly elevated beauty experience in-store with incredible special offers, limited-time gifts, and exciting activations.
If you’re a diehard beauty lover, you’ll already know that Hudson’s Bay is the place to shop thanks to its extensive range of over 195 skin and makeup brands from both luxury labels and masstige brands — including Tata Harper, Estée Lauder, YSL, Nars Cosmetics, Bobbi Brown, and so much more.
Throughout The Bay’s Beauty Week, visitors can take in some at-counter activations and interactive expert-led tutorials, where there will be chances to get makeup touch-ups from top-tier brands, try a spritz of the most alluring fragrances, and sample tons of new products.
This year’s Beauty Week highlight is the ‘Best in Beauty’ tote, a meticulously-curated selection of 30 deluxe samples from an array of top-tier brands like Dr. Barbara Sturm and Shiseido spanning skincare, fragrance, and makeup — all in a super sleek bag.
The tote, which is valued at over $300, is retailing for just $39 and is a fantastic way to explore new products (without breaking the bank). However, there is a limited quantity, so if you want to get your hands on one, you’ll need to be fast.
Wondering exactly what Beauty Week’s free gifts with purchases entail? If you spend over $95 at Lancôme, you will receive a six-piece set valued at $130. Or, you can get an Estée Lauder gift valued at $170 with purchases over $80. (And that’s just to name a few.)
If you’re a Hudson’s Bay Rewards member, you’ll also get $20 in Hudson’s Bay rewards when you spend over $100 on beauty.
The Canadian Armed Forces (CAF) have several non-combat jobs, some of which do not require a college degree or past work experience.
Life in the forces has several benefits, such as paid education plans (college, university and graduate-level programs), 20 paid vacation days, health and dental coverage for you and your family, maternity and paternal leave, and pension plans. You can learn more about the benefits in detail here.
And to make it easier to gauge if you qualify, the listings also include related civilian jobs to see if it’s your ideal role.
Financial services administrator
Related civilian jobs: Financial records entry clerk, financial manager, accounting technician, bookkeeper, budget officer, cashier clerk, business planner technician, and verification manager.
Description: You’ll help budget resources for all military activities besides providing financial assistance.
Education: You need to have completed Grade 10.
Duties: As a financial services administrator, you’ll be responsible for bookkeeping and managing budgets. You’ll also provide support in accounts payable and accounts receivable.
Work environment: Those in this role work at CAF bases, on ships or overseas. You might also be expected to help special operation units, recruiting offices, schools, and medical organizations.
Postal clerk
Related civilian jobs: Mail clerk, mail sorter.
Description: You’ll provide postal services to members and their families at bases and establishments.
Education: Grade 10. No previous work experience or related career skills are required.
Duties: As the postal clerk, you’ll handle mail duties.
Work environment: Besides a postal office, you may work on a ship or a mobile postal van. You might be expected to serve with Royal Canadian Navy, the Army, and the Royal Canadian Air Force in Canada and abroad.
Dental technician
Related civilian jobs: Dental assistant, dental hygienist.
Description: You’ll be helping dental officers provide dental services to CAF members, their families, and dependents.
Education: Level II dental assisting diploma from an accredited college or a National Dental Assisting Examining Board (NDAEB) certificate.
Duties: Those in this role will be responsible for various responsibilities, including disinfection and sterilization of dental equipment, applying rubber dams, placing cavity liners, and controlling bleeding. In addition, you’ll assist in laboratory procedures like creating casts, custom trays, and mouthguards.
Work environment: This role will require you to work in a military dental clinic, a Mobile Dental Clinic, an Air Transportable Dental System, or onboard a ship. You might be expected to work on a base in Canada or other operations in other parts of the world.
Human resources administrator
Related civilian jobs: Records administrator, data entry supervisor, receptionist, office manager, executive assistant, payroll clerk, and information management technician.
Description: Provide administrative and general human resources support.
Education: Grade 10. No previous work experience or related career skills are required.
Duties: In addition to human resources administration and services, you’ll be handling pay and allowances, managing automated pay systems, and maintaining personnel records.
Work environment: HR administrators work at all CAF bases in Canada. They also work on ships and overseas to support the Canadian Army, Royal Canadian Navy, or Royal Canadian Air Force operations.
Medical assistant
Related civilian jobs: Emergency medical responder, ambulance and first aid attendant, registered nursing assistant, licensed practical nurse, and hospital orderly.
Description: Successful candidates will help treat the sick and injured in CAF units. You’ll be assisting and supporting nursing and medical officers.
Education: Minimum of Grade 11 biology, Grade 10 physics or chemistry, and Grade 10 math.
Duties: You’ll provide initial care and essential life support treatments in trauma cases. You’ll help with health assessments (hearing and vision tests, perform basic lab procedures, etc.) and initiate and manage medical records and reports. You’ll also be expected to provide support and first aid during training exercises.
Work environment: Medical assistants may serve with the Royal Canadian Navy, the Royal Canadian Air Force or the Canadian Army as part of the Canadian Forces Health Services Group. Those in this role are exposed to the same risks as the forces they support.
Porter Airlines is once again stirring the pot among Canadian airline rivals, now going after Air Canada’s Aeroplan members by offering to match their loyalty status to an equivalent of their own.
The beloved airline, which recently ranked as having the best cabin service in North America, challenged the competition for the second time this year, after previously deploying a similar tactic against WestJet in the spring.
Earlier in April, Porter presented customers with a limited-time offer to match the loyalty status of WestJet’s patrons with VIPorter levels.
Now, they’re offering Aeroplan members to seamlessly transition to an equivalent VIPorter Avid Traveller status based on their existing membership tier.
Members can then take advantage of an array of travel perks that come with flying Porter, including seat selection, baggage, and flight changes.
For those currently holding an Aeroplan membership, there are two ways to acquire the Avid Traveller status for the rest of 2023:
Status-Based Match:
- Aeroplan 25K members = VIPorter Venture
- Aeroplan 35K members = VIPorter Ascent
- Aeroplan 50K, 75K, and Super Elite = VIPorter First
Flight Segments-Based Match:
- 5 flight segments = VIPorter Passport
- 8 segments = VIPorter Venture
- 17 segments = VIPorter Ascent
- 28 or more segments = VIPorter First
Members will have to first submit their applications on Porter’s website. Registration will remain open until September 6, 2023.
In order to maintain their membership level through 2024, customers will have until the end of 2023 to reach the following reduced qualifying spend (QS) targets:
- Passport = $500 in QS
- Venture = $750 in QS
- Ascent = $1500 in QS
- First = $2500 in QS
Over the past year, Porter has launched an aggressive expansion strategy, including everything from introducing longer flights on newly-purchased jet planes flying out of Toronto Pearson, free WiFi, and a new all-inclusive economy experience.
With Canadians losing both Swoop and Sunwing as WestJet incorporates both into their mainline business, Porter’s direct competition is welcome to keep prices competitive.
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