Sept. 27, 2019

RAIL SAFETY WEEK– FOUR SAFETY TIPS

  • Any time is train time: Trains can run at any time, on any track and come from any direction.
  • Speed Misperception: Because of their size, trains appear to be much further away and travelling much slower than their actual speed.
  • Trains can’t stop quickly: The average train needs at least 2 km (1 ¼ miles) to stop.
  • Safety Pledge: Safety is a shared responsibility. Do your part and take the pledge at mysafetypledge.com.

ALBERTA

  • Alberta’s provincial budget will be released October 24th. Premier Kenney says they will have tough touches to fight the deficit but will not reduce funding for health care and education.
  • July average hourly wages in Alberta shrank 0.7% M/M after a 1.7% contraction in June.
    • Y/Y average earnings are up 0.5%
  • Telus is investing $16 billion in Alberta, creating 5,000 jobs, connecting more homes and businesses to fibre optic and preparing for the future of 5G.
  • 7 Indigenous groups have acquired a 40% stake in a major power transmission line running from just west of Edmonton to Fort McMurray.

UNITED STATES

  • Dallas Fed Energy Survey shows that drilling and completion capex spending is expected to decline 10% in 2020.
    • Oil and Gas production increased for the 12th consecutive quarter
    • Crude oil prices will need to drop to around $40 per barrel to find a bottom in the rig count (currently down 170 Y/Y)
    • Competition for skilled workers is high
    • The oil majors are divesting to buy other assets
    • Tariffs have resulted in cost escalation over the past 18 months.
  • Young US home buyers are priced out of many markets; US had a decline in home sales valued at $300,000 or less.
  • Internet Association says that the internet sector contributed $1.2 trillion (10% of GDP) to the US economy in 2018.
  • US Interior Department said ‘there is not a climate crisis’ as it seeks to justify plans for oil drilling in the Arctic refuge.

TIDBITS

  • Satellites are bringing together governments, technology companies and philanthropies to take advantage of emission and climate sensing technology from space.
  • 130 barrels of bitumen were shipped as a semi-solid product from Edmonton to Prince Rupert by rail containers.
    • The product is non-flammable, floats in both fresh and salt-water and is non-toxic to marine life.
  • The number of doctors in Canada is growing at a rate of more than 2x the population. In 2018, there were almost 90,000 physicians, the highest number per capita on record.
  • US family health insurance now costs a record $20,000 annually, making it unaffordable for many workers.
  • October 1st is the 70th anniversary of Communist Party rule in China.