Welcome to the new Monitor, a concise and insightful look at the U.S.-Canada business and economic relationship. This collection of news articles, scholarship and thoughts from leading economists, journalists, academics and members of the business community is meant to provide you with an overview of the various perspectives on the dynamic and interconnected nature of the U.S.-Canada economic relationship. Each month we will also focus on a core subject of importance to both economies; this month features a look at the "green" economy and the intersection of business and environment.
We welcome your feedback and hope to highlight some of your comments each month. Write to us and tell us what you think at: connect2canada@canadianembassy.org.
Regards,
The Monitor Staff
Voices "By 2020, the average new vehicle sold in Canada will have a fuel consumption better than some of today’s hybrid cars and will have better fuel consumption, and emit less Greenhouse gas emissions, than approximately 93 per cent of all vehicle entries listed in the 2008 Fuel Consumption Guide."
- Lawrence Cannon, Minister of Transport, Infrastructure and Communities
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Perspectives: Carbon Emissions Ottawa to introduce "made-in-Canada" fuel economy standards
CBC News
January 17, 2008
Ottawa recently announced plans to create "made-in-Canada" fuel economy standards for cars and light trucks, noting they would be at least as stringent as regulations recently introduced in the U.S.
To view the National Roundtable on Environment and the Economy's full report visit "Getting to 2050: Canada's Transition to a Low-emission Future"
To work, carbon tax must sting
Toronto Star
January 20, 2008
Most Canadians tell pollsters they're concerned about climate change. Many insist they'd like to do something about it, and would even pay for measures to reduce greenhouse gas emissions. But propose actual cash amounts of 25 cents a litre on gasoline, perhaps, or a $10 daily commuter toll and support evaporates.
Alberta targets emission cuts with carbon capture
Reuters
January 24, 2008
Alberta, Canada's top oil-producing province, will let greenhouse gas emissions rise for more than a decade before emission cuts take hold in a new climate change plan that includes no new restrictions on industrial emitters. The government of Premier Ed Stelmach said recently it expects to bring carbon emissions 14 percent below 2005 levels by 2050, mostly through capture and storage of the gases blamed for global warming.
In The News
Don't fear foreign takeovers, CEOs say
Vancouver Sun
January 17, 2008
Canadians and their business leaders should not fear foreign takeovers but embrace the opportunities presented by an open global economy, says Thomas d'Aquino, chief executive of the Canadian Council of Chief Executives.
Kinder, gentler energy power
Globe and Mail
January 28, 2008
As the U.S. seeks to decrease its dependence on crude from unstable regions and OPEC countries, and with oil sands booming, Canada has supplanted Saudi Arabia as the leading supplier of crude to the U.S., claiming the No. 1 spot in 2004. In a twisting turn of events, geology and history, Texans are hungry for Alberta oil.
Foreign investments fuel Canada's RRSPs
Toronto Star
January 17, 2008
Has Canada's soaring loonie and strong markets taken the shine off foreign investments in the average RRSP? Not for a moment, say financial advisers. Foreign holdings can and do still play important roles when it comes to managing risk, achieving higher annual returns and diversification.
Canadian bargain hunters snapping up U.S. homes
Boston Globe
January 25, 2008
Doug Farley recently flew into Phoenix from his native Calgary in search of the one U.S. attraction Canadians can’t seem to get enough of these days: Cheap American homes. There are thousands of them in Phoenix - vacant, almost new and dropping in value at a time when the Canadian dollar is at parity with its U.S. counterpart for the first time in decades.
Canada replacing lost manufacturing jobs with better work
Globe and Mail
January 28, 2008
The bad news is that like the United States, Canada's economy is shedding manufacturing jobs. The good news is that unlike the U.S., Canada is replacing them with high-quality work in the public administration and energy extraction sectors.
U.S. slowdown may boost Canada's real estate market
CTV
January 20, 2008
The prospect of a U.S. recession has some homeowners and prospective buyers nervous about the impact on the real estate market in Canada, but one economist says a slowdown could actually boost activity in Canada's housing sector.
Deloitte's Technology Green 15
Deloitte & Touche LLP
Deloitte has declared the top 15 "green" companies in Canada. These awards honour companies creating innovative, important and economically viable intellectual property in the burgeoning field of green technology, judging them on technology solutions that deliver both a significant environmental impact and demonstrate a compelling return on investment for their clients. These companies are helping position Canada as a global leader in the development of commercially viable green technology.
Innovation
Zerofootprint
Zerofootprint's mission is to empower individuals and communities to fight climate change in measurable and practical ways. This Toronto based company has developed innovative applications to measure and manage carbon and ecological footprints for the purpose of reducing greenhouse gas emissions. Zerofootprint harnesses the power of social networks on the web and brings together environmental science, risk management and software engineering. The online calculator will help you create a summary of your personal ecological footprint including travel, food, and energy consumption among others and then compare this with those in your community and others in countries around the world.
Read more about Zerofootprint
The Weyburn-Midale CO2 project
Launched in 2000, this 8-year $80 million international project studies CO2 injection and storage underground in depleted oil fields. The project’s Final Phase (2005-2009) is building on the successes of the First Phase (2000 – 2004) to deliver the framework necessary to encourage implementation of CO2 geological storage on a worldwide basis. The project is operated in conjunction with two billion-dollar commercial CO2 floods in Saskatchewan, Canada, where huge volumes of the gas are captured from an industrial source and injected to revive oil production.
Read more about the Weyburn-Midale CO2 Project
Publications
The University of Waterloo
Centre for Environment and Business
There is a growing demand for professionals who can combine environmental tools such as resource management and ecosystem analysis with business skills, such as economic analysis, finance, and marketing and Waterloo's Environment and Business Centre is Canada's only university program to integrate environmental knowledge and business skills along with nearly two years of paid co-op work experience. The program offers cutting edge research and fosters the development of new ideas in this burgeoning field, while exploring the ways in which the environment and business can, and should, be integrated.
Global Environmental Politics
Global Environmental Politics, a publication edited by Waterloo professor Jennifer Clapp, examines the relationship between global political forces and environmental change, with particular attention given to the implications of local-global interactions for environmental management as well as the implications of environmental change for world politics. Each issue is divided into full-length research articles and current debates focusing on issues such as the role of states, multilateral institutions and agreements, trade, international finance, corporations, science and technology, and grassroots movements.
Blogs
Market Blog
David Berman's market blog on the Globe and Mail
David Berman takes you behind the scenes of the market's ups and downs. This week he writes about the President's economic stimulus package, a North American stocks rally, and the American love of potash.
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Multimedia
Connect2Canada podcast with Kevin McNulty of Terris Hill Productions
Kevin McNulty is partner at Terris Hill Productions. Mr. McNulty has over 20 years experience in coal process engineering, video and audio production, and industrial training. Mr. McNulty, with his partner Terry Smith, started Terris Hill productions in 2002 when they saw the need for interactive instructional materials to serve a growing market, especially in the U.S. Listen as Mr. McNulty describes his work at Terris Hill Productions, a “serious gaming” company that produces computer-based training simulations to promote better safety on oil rigs.
State Trade Fact Sheet
Pennsylvania: The Keystone State
In 2006, Pennsylvania and Canada continued their strong relationship as exchanges surged to $20.4 billion and cross border trade surpassed $55 million on an average day. The state supplied its northern NAFTA partner with $7.9 billion in merchandise and purchased $12.5 billion worth. In fact, Pennsylvania exported one-third of its foreign-bound goods to Canada, a greater volume than to its next seven international destinations—Mexico, China, Japan, Belgium, the United Kingdom, Germany and the Netherlands—combined.
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