+ a large story to start the year; Prime Minister Justin Trudeau is resigning – media coverage of announcements have been confusing: 1) he asked the Governor General to prorogue the house and dissolve parliament, which she has done until March 24 which stops legislation in process of being passed; 2) he has asked the Liberal party to launch a leadership race; 3) he says he will resign as Prime Minister and Leader of the Liberal party ‘after’ the Leadership contest. So, until March 24th, the PMO and the Prime Minister will run the country without parliament sitting or being accountable to Canadians. So, the stage is set for a few more months of uncertainty about the next election timing, who the next Liberal party leader will be, and only after that leadership race concludes will the Prime Minister resign – so, he’s hanging on as long as he possibly can as if that’s helping Canadians. ... and, there is a G-7 conference (Canada hosting) this fall, so we’ll likely have a new Prime Minister representing us ... I hope ... but he’s made it as difficult as he could without a single valid reason other than his desire to not leave a job for which Canadians no longer support his privilege to lead. [best guess on timing: House of Commons resumes sitting Monday, March 24; 1st item of business will be Speech from the Throne. The government’s Interim Supply Bill could be introduced on Tuesday, March 25, debated and voted upon Wednesday, March 26. Then, if the government is defeated on its Supply Bill, the Prime Minister would then ask the Governor General on Thursday, March 27 to indicate he has lost the confidence of the House, and Parliament should be dissolved for a general election. Election laws require a general election campaign period be at least 37 days and election day must be a Monday: it would seem the earliest date for an election would be Monday, May 5, 2025. The candidates seen as ‘most likely’ are outlined in this CBC piece
+ current energy prices; live links to Bloomberg energy prices / OilPrice.com / BOE INTEL ~ WTI @ US$74/bbl; Brent @ US$77/bbl ~
+ FACILITYCalgary, a sponsor-supported FREE weekly newsletter; ‘send time’ is early every Tuesday
+ GFL Environmental Inc. agreed to sell majority control of its Environmental Services business unit for $8.0 billion to Apollo and BC Partners
+ Government of Alberta is trying to strike a deal – using the Alberta Petroleum Marketing Commission to work with Enbridge (LOI signed) to increase Alberta producers capacity of oil and gas pipelines
+ Kelt Exploration Ltd. announced its 2025CapExBudget is $328.0 million
+ Mattr Corp. closed its acquisition of AmerCable for US$280.0 million
+ Mayoralty/Calgary city council race watch – Calgary’s election is a year away: Gondek undecided on running again, Jeff Davison declared, Brian Thiessen declared, Jyoti Gondek declared; and rumored to be running: Sonya Sharp, Dan McLean so far; new ‘city parties’ are lining up candidates: A Better Calgary Party, The Calgary Party, and the Communities First party
+ MONDAY MORNING MINUTE - a weekly inspiration message and a selected quote in your inbox weekly; check out the new format; check out this week’s issue – sign up is free
+ Next Edge Capital Corp. acquired the CMP flow through business unit from Dundee Corporation; will operation as CMP Next Edge Corp.
+ Pembina Pipeline Corporation closed the acquisition of 50% interest in Kaybob Complex
from Whitecap Resources Inc.
+ REITrag – is a curated news publication real estate investment trusts; all Canadian REITs and adding American and European listings; available by subscription; sign-up form … December/2024 issue coming this week
+ rig activity in Canada, courtesy of BOE Report
+ rig counts/utilization (active/working) – US: steady at 589 this week; Canada: down 1 to 94 this week
+ Scotiabank agreed to sell its banking operations in Columbia, Costa Rica and Panama to Davivienda in exchange for a 20% interest in Davivienda
