Canada column for
Sunday, Feb. 24/19
THE CANADIAN REPORT
(c) By Jim Fox
The contentious
Trans Mountain crude oil pipeline expansion is in the best interests of
Canadians and should be approved, the National Energy Board (NEB) said.
The recommendation
is subject to numerous conditions for the proposed $9.3-billion pipeline
expansion to Burnaby, British Columbia from Edmonton, Alberta.
It would twin the
existing 715-mile pipeline built in 1953 and nearly triple its capacity.
The long-fought
concern of environmentalists and Native protesters is that oil tanker ship traffic
at the Burnaby coast would grow to more than 400 a year from 60 now.
The
“reconsideration report” from the NEB for the Canadian government gives its OK
subject to 16 new conditions along with more than 150 submitted earlier to keep
it safe.
Approval was given,
subject to a review and ruling by the government, even as the NEB said the
“unlikely” event of an oil spill could cause “significant” issues.
It also said increased
ship traffic could have notable “adverse environmental effects” on killer
whales while greenhouse gas emissions would be also be significant.
---
Public support for
Prime Minister Justin Trudeau and his Liberals is waning over allegations of
meddling to support a Quebec-based engineering company in an investigation.
It led to the
resignation of Gerald Butts, Trudeau’s political advisor, and earlier that of
former Justice Minister Jody Wilson-Raybould.
Little has been disclosed
about allegations the Prime Minister’s Office might have tried to prevent the prosecution
of SNC-Lavalin.
---
News in brief:
- Interest rates
are “low enough” to stimulate the economy, said Bank of Canada Governor Stephen
Poloz. He said the upward path for interest rates is “uncertain” as target
inflation remains low and continue to be studied for its impact. “Given these
uncertainties, we have kept (the key) interest rate unchanged at 1.75 percent
since last October,” Poloz said.
- Hudson’s Bay Co.
is closing its 27 Home Outfitters stores in Canada and is considering shutting
20 of its Saks Off Fifth locations to “increase profitability.” CEO Helena
Foulkes said “further streamlining our retail portfolio enables even greater
focus on our businesses with the strongest growth opportunities.” As well,
intense competition has led Payless Shoe Source to file for bankruptcy
and is closing its North American stores including 248 in Canada.
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Facts and figures:
The Canadian dollar
is higher at 76.15 cents U.S. while the U.S. dollar returns $1.313 Canadian before
bank exchange fees.
The Bank of Canada’s
key interest rate is steady at 1.75 percent while the prime-lending rate is 3.95
percent.
Stock markets are higher, with the Toronto
exchange index at 16,013 points while the TSX Venture index is 623 points.
The average price for gas in Canada has jumped
to $1.079 a liter or $4.10 (Canadian) for a U.S. gallon; $1.035 a liter in
Ontario.
Lotto 6/49: (Feb. 20) 21, 22, 23, 30, 33 and 43; bonus 42.
(Feb. 16) 3, 9, 10, 20, 21 and 35; bonus 31. Lotto Max: (Feb. 15) 1, 2,
32, 37, 38, 39 and 45; bonus 16.
---
Regional briefs:
- With this winter
throwing all things frozen on Southern Ontario and beyond, City of Toronto road
crews are on a mission this weekend: filling up to 4,000 potholes. The
freeze-thaw cycle has resulted in an unprecedented number of road holes. So
far, crews have repaired more than 13,000 potholes this winter from an annual
budget of $4.5 million.
- A Montreal man
said he will fight a ticket for $48 for walking on a quiet roadway instead of using
an ice-and-snow-covered sidewalk. Lateef Martin said he was ticketed for not
using the sidewalk last weekend about 1:30 a.m. while walking home from a
friend’s house. Martin said he was given the ticket after he refused to tell
the police officer where he was going. He said he believes his race was a
factor in the confrontation.
-30-
Jim Fox can be reached at canadareport@hotmail.com
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