Energy & Commodities

Canada’s Oil Industry Could Win Big In Hard-Fought Election

Posted by Tsvetana Paraskova, oilprice.com

on Monday, 20 September 2021 11:55

The future of Canada’s oil and gas industry – a major employer in the country and especially in oil-rich Alberta – is at stake in Monday’s federal election, in which climate change is a key theme alongside the impacts of the pandemic on the Canadian economy. The snap election, which Prime Minister Justin Trudeau of the Liberals called in hopes of capitalizing on his handling of the COVID emergency, is too close to call, polls showed a day before the vote.

As climate change is increasingly taking center stage in every election in major Western oil and gas producers, as it did in Norway earlier this month, the stakes for Canada’s energy industry are high.

If voters choose more of the same, giving Trudeau a win, another government led by the Liberals would demand stricter federal rules from the oil and gas sector to cut emissions, while new oil pipeline projects are unlikely to be supported. But if the Conservatives were to win, Canada’s oil industry could get a boost from a pro-oil federal government. Stocks in major energy companies would also benefit from a Conservative win and could be primed for a relief rally, Michael Bellusci of Bloomberg News notes…read more.

Evergrande fears send stock market tumbling: What investors need to know about China’s teetering property giant

Posted by William Watts, marketwatch.com

on Monday, 20 September 2021 10:02

Evergrande, a Chinese property giant nursing more than $300 billion in debt, remains on the brink of default — sending global equities tumbling Monday as investors, who had previously ignored the situation, sat up and took notice.

Fears of a bursting property bubble have long been a concern for investors when it comes to China. A heavily leveraged real-estate sector makes up more than 28% of China’s economy, according to the Financial Times. Questions surround how willing Chinese authorities will be to provide a backstop.

Meanwhile, holders of Evergrande’s approximately $19 billion in dollar-denominated bonds are left to wonder what will become of their investments, while other investors attempt to gauge the potential spillover effects a collapse could have on China’s property sector and global financial markets…read more.

U.S. to ease travel restrictions for foreign visitors who are vaccinated against Covid

Posted by Leslie Josephs and Robert Towey, cnbc.com

on Monday, 20 September 2021 9:45

The U.S. will ease travel restrictions for international visitors who are vaccinated against Covid-19 in November, including those from the U.K. and EU, the White House said Monday.

Noncitizens visiting the United States will have to show proof of vaccination and a negative Covid test taken within three days of departure, said Jeff Zients, who is leading the nation’s Covid response efforts for the White House.

The changes will take effect in early November, which the airline industry expects will spur holiday bookings…read more.

Special Webinar – Adding CyberSecurity Assets to Your Portfolio

on Friday, 17 September 2021 13:42

Next Tuesday, September 21st at 11am, Plurilock Security CEO Ian Paterson will expand on his conversation with Michael Campbell on this week’s MoneyTalks show with a presentation showing investors how and why they should consider participating in the booming sector of CyberSecurity.

A must see for anyone considering adding FinTech or Crypto exposure to their portfolio. Ian will also update investors on Plurilock’s huge revenue surge and successful expansion into the US. CLICK HERE to register – access is limited so sign up early.

Canadian Households Spend More Income On Debt Than Any Other G7 Country: BIS

Posted by Stephen Punwasi, betterdwelling.com

on Friday, 17 September 2021 12:00

Canadian households devote an astronomical amount of income just to carry their debt payments. Data from the Bank of International Settlements (BIS) shows Canadian households have a very high debt service ratio (DSR). The ratio dropped in Q4 2020 slightly, but it’s still much higher than any other G7 country. Not even the US housing bubble reached this level in 2008.

Canadians Spend 12.4% Of Their Income On Debt Payments
Canadians spend an astronomical share of their income on debt payments. The household DSR reached 12.4% in Q4 2020, down from 13.5% in 2019. It dropped, but this was entirely due to the fact interest costs have fallen. Household credit growth is still booming, and at a much faster rate than income.

Canadian Debt Payments Dwarf The US… Even In 2008
Contrasting with our neighbors to the South, we can see their DSR isn’t even close to Canada. US households had a DSR of 7.6% in Q4 2020, down from 7.9% in the same quarter a year before. They spend a third less of their income on servicing debt…read more.