By Emma McIntosh StarMetro Calgary Steph Wechsler National Observer Carolyn Jarvis Global News Mike De Souza National Observer Thu., Nov. 1, 2018 The Alberta Energy Regulator is apologizing for a “staggering” presentation, made last February by one of its highest-ranking officials, that warned the province’s oilpatch that it could be sitting on an estimated $260 billion in financial liabilities. The details of the presentation, made by the regulator’s vice-president of closure and liability Robert Wadsworth, riled up the Alberta and federal legislatures when made public in a report on Thursday by National Observer, Global News, the Toronto Star and StarMetro Calgary. The estimated liabilities Wadsworth cited in his February presentation are $200 billion greater than the previous calculation made public by the regulator. The AER had previously said the cost was just over $58 billion. The joint media report, based on … [Read more...] about Alberta regulator apologizes for spooking public with $260-billion cleanup cost estimate
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source Reuters Inflation holds steady at 2.4% in the UK in June, according to fresh data from the Office for National Statistics. That was largely down to the rising price of fuel, with petrol prices hitting their highest in four years in the month. The UK’s rate of inflation has been steadily dropping since the beginning of 2018. The cost of fuel rose to its highest level in almost four years last month, holding up the rate of inflation in the UK, according to the latest data from the Office for National Statistics, released on Wednesday. Britain’s headline rate of consumer price inflation (CPI) was 2.4% in the month of June, unchanged from the previous month. CPIH, the ONS’ favoured measure of inflation was also unchanged, steady at 2.3%. That, however, was almost entirely down to the rising price of petrol – which itself has been triggered by steadily rising oil prices. Oil is now at around $71 per barrel, a level not seen … [Read more...] about UK petrol prices hit their highest level in 4 years — but inflation holds steady
SINGAPORE - Cost of living is a multi-dimensional issue, and the measure of how prices change over time is but one aspect of it, said Minister for Trade and Industry Chan Chun Sing in Parliament on Tuesday (July 10). The gap between people's aspirations and their ability to fulfil them can also bring cost-of-living pressures to people, he told the House, acknowledging people's concerns about the issue. Pledging the Government's commitment to helping all Singaporeans manage and achieve their aspirations, he said: "We recognise Singaporeans' evolving aspirations for a better life for themselves and their families, and the associated stress of achieving real income growth in a volatile economic environment. "Beyond creating opportunities for Singaporeans to enjoy real wage growth to meet their aspirations, the Government is also committed to help Singaporeans stretch their hard-earned dollar." Mr Chan was responding to a question from Mr Liang Eng Hwa (Holland-Bukit Timah GRC), who had … [Read more...] about Parliament: No single measure for cost of living, says Chan Chun Sing
caption A worker deflates a Chicago Bears inflatable mascot prior to the NFL football game between the Chicago Bears and the Cincinnati Bengals in Chicago, Illinois, September 8, 2013. source Reuters Inflation indicators that were flashing red at the beginning of the year have faded away. At the same time, central banks around the world have continued to tighten their policy, fearful that the global economy will heat up. This could be a deflationary trap. What if the entire world of money is preparing for the wrong disaster – which would be a disaster in and of itself? Since the financial crisis Wall Street, central bank heads, economists and policymakers have been waiting for the return of inflation. At the beginning of this year they thought they had found it. It came, so they thought, in the form of a weak dollar, wage growth, economic stability in China, and steadily rising interest rates. So here … [Read more...] about What if Wall Street is waiting for the wrong disaster?
Rising oil prices – culprit behind high inflation, CA deficit The surge in inflation, which rose to a five-year high of 4.5 percent in April, has been blamed on the TRAIN Law, the weak peso, and many other factors. But one of the main culprits why inflation is surging is the sharply higher oil prices - already up by 50 percent year-on-year. Effect on inflation The sharp surge in crude oil prices the past year had a huge effect on the country’s inflation rate, especially since the Philippines is a net oil importer. High oil prices directly affect the prices of crude oil and petroleum products we import. In addition, it indirectly adds to inflation through higher transportation and manufacturing costs. Impact on the trade balance The effect of high oil prices on the domestic economy is also evident when we look at the latest trade data from the Philippine Statistics Authority (PSA). While imports are basically flat (up 0.1 … [Read more...] about Rising oil prices – culprit behind high inflation, CA deficit