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Post Info TOPIC: No wonder everybody hates Canada! But not Uke!
Uke


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No wonder everybody hates Canada! But not Uke!
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Nope. And here's why:

Bill Mann

Bill Mann's Canada Archives | Email alerts

Oct. 11, 2011, 10:01 a.m. EDT

Alberta jobs-increase figures are stunning

Commentary: Maligned oil sands fuel Canadas strongest economy

By Bill Mann, MarketWatch


Reuters
Heavy equipment mines the oil tar sands at Syncrude's Aurora mine near Fort McMurray, Alberta. (File photo, 2006)

VICTORIA, B.C. (MarketWatch) Heres a term you dont hear too often these days blockbuster job growth. But thats what analysts are calling the latest employment figures in oil-rich Alberta, an exciting, upbeat place these days.

And you can thank the much-maligned (elsewhere, anyway) Alberta oil-extraction industry for the biggest chunk of those jobs created.

The western provinces unemployment rate dipped to 5.4% in September from 5.6% in August following the fifth straight month of job gains, Statistics Canada reports.

The federal agency says Alberta recorded a net 8,600 new jobs, bringing to almost 98,000 the number of new jobs created in fast-growing Alberta during the past year.

The Calgary Herald heralded these latest figures as a stunning job rush in September.

Robert Kavcic, an economist with BMO Capital Markets, said job growth in Alberta continues to outpace the rest of Canada.

Private-sector job growth in the province was up a massive 8.8% year-over-year in September, the strongest growth since 1981 and even outpacing growth seen at the height of the energy boom in 2007.

The European Commission labeled Alberta oil-sand crude as dirty fuel, recently. Not a problem: Europe doesnt get any Canadian oil yet, and Prime Minister Stephen Harper says hell fight the dirty-oil designation at the World Trade Organization.

One banking exec I spoke to at a business conference here in British Columbias capital put it this way:

Im from Edmonton, not far from the oil sands. Ive been up there. Americans and Europeans have no idea how desolate the oil-sands area is surrounding Fort McMurray. In some places, you can see the oil oozing to the surface, running into clear rivers.

It smells like, well, jobs, and even though the Keystone-XL pipeline from Alberta to the U.S. Gulf Coast is under heavy political pressure, and even though many of the 100,000 promised jobs related to Keystone-XL will be in the U.S., the ones in Canada will be gravy in Canadas booming province.

Canadas where the new jobs are

Nationally, Canada created six times as many jobs as analysts expected in September, once again outperforming the United States.

TD Securities macro strategist Mazen Issa called the latest figures a blockbuster job report.

Adjusted to take account of the relative sizes of the two economies and slightly different statistical methods, Canadas gain of 60,900 new jobs, reported by Statistics Canada on Friday, would be comparable to half a million new U.S. positions



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Everybody doesn't hate Canada....but Uke on the other hand........

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Snippy feels great about the new "energy security"!

We'll expend more BTUs getting this "energy" to market than it will produce, but don't worry......

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Not bad EH?! Considering Obama called the Canadian tar sands a dirty source of fuel. I guess the coal beds the BN is hauling out of is dirty too.

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Uke


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Yep. All that coal outa FMB's territory is dirty tu. Figure how much energy is expended gettin' it outa the ground, movin' it...then REmovin' it yet again ta where it's burned... Some damn expensive dirt eh?



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Yeah, but the BTUs generated exceed the BTUs expended in obtaining the resource.

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Snippy wrote:

Snippy feels great about the new "energy security"!

We'll expend more BTUs getting this "energy" to market than it will produce, but don't worry......


......the ducks are happier than they were before the bitumen was mined, the deer are happier, all the aboriginals are so happy and busy in their oilfield jobs they don't even have time to drive their spankin new F350 down to the pow wow. It's just beautiful. Pass that kool aid over here one more time. What's in that ? The colors sure look bright today eh ?

 



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