C&C #26: Mind the Investment Gap
Explore the $750 billion investment gap in Canada's resource projects, highlighting challenges and opportunities in construction and economic growth.
Inflation stuck at three per cent this morning, with gas still up 23 per cent and Brent back above $108. And tonight, 250 people who run companies overseeing nearly $120 trillion sit down to dinner with Mark Carney in Toronto. He wants $1 trillion of it. The pitch book has 167 projects — and a lot of them are ours.
Episode 31 of ICBA Coffee & Construction — the news that matters to the people who build British Columbia and Alberta, with ICBA's Jordan Bateman. On today's show:
☕ THE BIG ONE: Canada's first investment summit. Ksi Lisims LNG at US$28.5 BILLION and "shovel-ready." The West Coast Oil Pipeline — a million barrels a day, 1,250 kilometres, Bruderheim to a deepwater port in southern B.C. Edmonton–Calgary high-speed rail at $10.9 billion. Two Indigenous-owned B.C. wind farms. Danielle Smith brought 34 Alberta projects, every one $200 million or bigger. Carney says deals are already signed. Investors don't buy projects — they buy certainty. So what's David Eby selling from a province where a substation takes six years?
📉 Jock Finlayson's summit-day piece: Wanted — An Agenda to Boost Investment in Canada. Canadian companies invest 55–60 cents per worker for every U.S. dollar. A construction permit took almost 250 DAYS in 2020. A new mine, 15-plus years. Top personal tax rate 53–54 per cent. His fixes: one lower business rate with fewer carve-outs, immediate write-off of investment in every sector, and red-tape reform everywhere — not just for a handful of "national interest" projects.
💸 Breaking this morning: August inflation 3.0 per cent, unchanged. Gas up 22.8 per cent, groceries up 2.8, rent up 2.8. A three in front of inflation means no Bank of Canada cut on October 28. Rate relief is dead.
🖥️ Alberta's gas bottleneck. A leaked cabinet report says TC Energy's Nova system is full until 2029 and data centre builders could walk. The fix it floated: two Crown corporations, $54–163 MILLION. Danielle Smith's answer Saturday: "unlikely" — the private sector can build it. Meanwhile BC Hydro promised to name its data-centre winners by mid-September. It's mid-September.
🛢️ Four days. Ottawa is taking public comment on listing the West Coast Oil Pipeline as a project of national interest — deadline Friday, September 18. Email WCOPComment-CommentaireOCO@mpo-bgp.gc.ca, subject line "WCOP Comment." Ottawa's own numbers: 140,000 jobs at peak construction, 70,000 in B.C., 45,000 in Alberta. Tell them the work should go to the best bid, not the right union card.
Explore the $750 billion investment gap in Canada's resource projects, highlighting challenges and opportunities in construction and economic growth.
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