jerryking + natural_resources   43

Norway’s oil wealth swamps innovation
John Gapper OCTOBER 19, 2016

"omstilling", is the name for Norway’s nascent shift to living without the energy industry that has brought it wealth and welfare for 45 years.

Why hurry, some wonder. Its 5.2m citizens are among the world’s comfiest, with gross domestic product per head of $75,000. Its oil-funded sovereign wealth fund, set up in 1990 to help it avoid “Dutch disease” — the syndrome of resource wealth driving up national currencies and weakening other sectors — is worth $880bn. Its oil and gas reserves should last for another half-century.

The trouble is that Norway is too comfortable. It takes a crisis to get most people to change their ways radically or for an economy to adjust the way that it works. Whatever you think of Brexit, it is one of those crises. At the moment, Norway has more official think-tanks and innovation incubators than entrepreneurship and disruption.....The oil fund is exemplary in many ways: by taking the wealth largely out of the hands of the government and directing it into overseas investment, Norway has avoided the worst of Dutch disease. But it adds to the sense of the country having a cushion against change: the fund’s very existence extends its deadline to reshape the economy.

The citizens are also cushioned......Norway remains hesitant about change.....Norway is a consensus-driven society that feels comfortable only with reform that has been carefully discussed and agreed....Elisabeth Stray Pedersen, a 29-year-old fashion designer who last year bought a factory opened in 1953 by the designer Unn Soiland Dale. She wants to revive its Lillunn brand and sell more of its Norwegian wool blankets and coats abroad.
Norway  Norwegian  oil_industry  Brexit  United_Kingdom  innovation  natural_resources  resource_curse  sovereign_wealth_funds  complacency  fashion  apparel  start_ups 
april 2018 by jerryking
Africa Bruised by Investor Exodus - WSJ
By MATINA STEVIS
Feb. 21, 2016 5:30 a.m. ET

Fund managers say assets in African nations are being punished because of their disproportionate reliance on resources and failure to use the commodity boom of recent years to industrialize their economies. In Angola, Nigeria and Equatorial Guinea, oil counts for more than 90% of export revenue, while copper counts for more than 70% of export revenue in Zambia.

“There’s a reaction to a year ago, to the euphoria of new investors coming into Africa,” said Stuart Culverhouse, an economist with Exotix, a London-based frontier fund and advisory firm. “They are trying to get out now, and they are being quite indiscriminate.”

The upshot is that frontier investors are moving their money from Africa to Asian countries like Pakistan, Bangladesh and Vietnam; net energy and commodity importers which have shown more commitment to industrialization.
Africa  investors  private_equity  commodities  China  Barclays  exodus  frontier_markets  natural_resources 
february 2016 by jerryking
Canada beware: We are suffering a great depression in commodity prices - The Globe and Mail
MICHAEL BLISS
Special to The Globe and Mail
Published Friday, Jan. 15, 2016

The Great Depression of the 1930s used to be understood as a worldwide structural crisis that was partly an adjustment to the great expansion of crop acreage and other primary industries undertaken to meet the demands of the First World War. Unfortunately the history of those years now tends to be viewed through the distorting lenses of economists fixated on monetary policy and financial crisis management.

They thought that the crisis of 2008 might become a replay of the 1930s. For the most part they have not realized that it is today’s global depression in commodity prices that has eerie echoes of the great crack-up. If it’s true that we have overexpanded our productive capacity to meet the demands of Chinese growth, and if that growth is now going to slow, or even cease, then history is worrisomely on the verge of repeating itself....One sign of the beginning of wisdom is to be able to shed illusions. Make no mistake. Right now, the world is experiencing a great depression in commodity prices, led by the collapse of oil, that represents an enormous shrinkage in the valuation of our wealth. As a country whose wealth is still highly dependent on the returns we can get from selling our natural resources, Canada is very vulnerable. In a time of price depression, our wealth bleeds away.
'30s  adjustments  commodities  commodities_supercycle  economic_downturn  Great_Depression  historians  history  illusions  Michael_Bliss  natural_resources  overcapacity  pricing  overexpansion  slow_growth  wisdom  WWI 
january 2016 by jerryking
Jeffrey Simpson: Slow growth now, no growth later - The Globe and Mail
JEFFREY SIMPSON
Slow growth now, no growth later
SUBSCRIBERS ONLY
The Globe and Mail
Published Wednesday, Jan. 13,2016

The population is aging. Commodity prices are low. Oil and natural gas prices are hitting rock-bottom. The Canadian dollar has plummeted. Most governments are in deficit, or heading into deficit (read Ottawa). Innovation and the commercialization of research lag that of other countries. Productivity, the country’s long-term bugbear, remains sluggish....all the green traffic signals have turned to yellow or red. Yet this slow-growth economy, which might persist for a long time, is wrapped in a political culture that seems to favour slow or no growth, or seems to think that government infrastructure programs, useful in themselves, will solve the long-run problems.....Everywhere, projects are blocked or delayed, because environmentalists, aboriginal people, non-governmental organizations or even provincial governments oppose them....Many of these blocked or delayed projects with large-scale economic spinoffs are natural resource projects, which the federal government says might be saved with more “robust” oversight. The government is kidding itself in this belief, since the opponents don’t care what the regulatory process is. They oppose development pure, simple and always.

Far beyond natural resource constipation, the contradiction arises between slow growth and the huge desire of citizens for more government services, without higher taxes. Of special concern is Canada’s persistent low productivity, to which no easy answer exists, except that a slow-growth mentality doesn’t help.

...Don Drummond, working with Evan Capeluck, recently explained the challenge in a paper for the Centre for the Study of Living Standards, which looked at productivity trends in all provinces. Projecting these trends forward, they said most provinces and territories will not be able to balance revenue growth with new spending demands (especially for health care) without higher taxes or spending cuts.

Put another way, unless long-term growth can be improved – a trend that will require productivity improvements – Canada is heading for a poorer future with fewer programs and/or higher taxes.
growth  Jeffrey_Simpson  economic_downturn  anti-development  natural_resources  economic_stagnation  megaprojects  productivity  Don_Drummond  slow_growth  low_growth  weak_dollar  signals 
january 2016 by jerryking
Former Xstrata boss Mick Davis a slimmer, trimmer predator - The Globe and Mail
Mar. 13 2015 | The Globe and Mail | by ERIC REGULY - EUROPEAN BUREAU CHIEF
LONDON.

Mick Davis runs X2 Resources, which has 10 employees and zero assets other than $4-billion of investor capital, some of it from Canadian pension funds, sitting idly in the bank.

X2 was launched a year ago and has been shopping for mining assets or operating companies, but has come up short....Mr. Davis is wealthy. He recently donated £1.1-million ($1.5-million) to David Cameron’s Conservative party to support its re-election bid in the May general election. He admits he doesn’t need to launch X2 to support his lifestyle, though he would like to donate more money to his charities. What’s really driving him is the urge to build once again....Xstrata began life in 2001 as a small lump of coal assets discarded by Glencore. Big Mick had emerged as the industry’s premier predator. “What motivates me is to be able to create and build,” he said back then. “If you’re going to be productive in your time in this world, you have to add to it. I have the capability of adding commercially.”....Commodities recovered shortly after the 2008 financial crisis, then went into a long slump that continues today – copper is down more than 15 per cent in the past year, iron ore by 50 per cent. The culprit was not waning demand, Mr. Davis explains; it’s still rising, albeit at a slower pace. Instead, it was epic miscalculation by the corporate captains and the investors who threw money at them. When prices were strong, the biggies invested fortunes in new mines and smelters and all the ports, ships and railways that went with them. These projects were vast, expensive and took many years to build.

All that new production is now hitting the market like a sledgehammer.
Xstrata  Mick_Davis  mining  Glencore  Eric_Reguly  miscalculations  Second_Acts  commodities  private_equity  mergers_&_acquisitions  natural_resources  X2  entrepreneur  privately_held_companies  overcapacity  overexpansion 
march 2015 by jerryking
Canada’s all about energy … to send elsewhere - The Globe and Mail
JEFFREY SIMPSON
The Globe and Mail
Published Wednesday, Dec. 24 2014

Natural resources such as energy are provincially owned with national implications. Where we sell, to whom and for what prices, and how we exploit the resources have fiscal-policy and sometimes foreign-policy implications. Natural resources contribute to the country’s standard of living, and to regional differences, which Ottawa through equalization is charged with trying to flatten.

A “Canadian energy for Canadians” approach would not see Uncle Ottawa bullying its way into provincial jurisdiction. Rather, it would invite the federal government to suggest to provinces that it stands ready to assist them financially in projects that would move Canadian energy across the country.

Think about hydroelectricity. We don’t have anything like a national grid in Canada. We don’t even have effective regional grids, but rather bits and pieces of regional grids. We’ve got highways and train tracks linking the heartlands of Quebec and Ontario, but we don’t have an energy corridor from surplus-producing Quebec to Ontario.
Jeffrey_Simpson  energy  natural_resources  hydroelectric  federal-provincial_relations  power_grid 
december 2014 by jerryking
Will we ever be proud of our oil sands? - The Globe and Mail
KONRAD YAKABUSKI
The Globe and Mail
Published Monday, Jun. 23 2014

Unless politicians and industry do a better job at making the case for their exploitation, they will sow regional tensions and exacerbate a national malaise about the direction the country is heading.

The first step involves spelling out for Canadians just how critical the oil sands are to the national economy. In 2011, Albertans contributed $19-billion more to federal coffers than Ottawa spent in their province. No other province comes close to making as large a contribution to the federation. Indeed, at least seven out of 10 provinces are net beneficiaries of federal spending. Without Alberta’s wealth, federal transfers to have-not provinces would need to shrink, compromising the quality of life and public services for millions of Canadians.

Those who argue that other, cleaner industries would fill the economic vacuum if we shut down the oil sands ignore the fact that countries do best by exploiting their comparative advantages. Ours lie in resources. Though our technology sector has occasionally produced global success stories, our collective expertise still lies mainly in large-scale resource development.

Canadians, however, also want to be seen as conscientious global citizens. Our Prime Minister (if not this one, the next) could build a consensus behind developing the oil sands if he were to make shrinking its environmental footprint a national priority. Such a project would be a boon to domestic innovation, producing economic and social returns for the whole country.
oil_sands  oil_industry  Alberta  Konrad_Yakabuski  R&D  oil_patch  pride  economic_vacuum  comparative_advantage  natural_resources  resource_extraction  environmental_footprint 
june 2014 by jerryking
Canada’s real wealth lies in its institutional integrity, not its resources - The Globe and Mail
BRIAN LEE CROWLEY
Canada’s real wealth lies in its institutional integrity, not its resources Add to ...
SUBSCRIBERS ONLY
Special to The Globe and Mail
Published Thursday, Apr. 17 2014

Canada’s wealth, and the reason why the world beats a path to our resources, lies not in the resources themselves. What makes that endowment almost uniquely valuable in the world is that it exists within another vastly more important endowment of rules, institutions and behaviours.

My list of those institutions and behaviours include the rule of law; independent judges and reasonably speedy and reliable resolution of disputes; the enforcement of contract; the absence of corruption among government officials and the police; respect of private property; a moderate, predictable and stable taxation and regulatory burden; a stable currency that keeps its value; responsible public finances; freedom to trade both domestically and internationally; a well-developed work ethic; and a refusal to resort to violence to resolve political disagreements. That is the greatest endowment that we have.

What happens when you nest a rich natural resource endowment inside this endowment of rules, institutions and behaviours? Companies can invest billions of dollars to unlock opportunities, such as the oil sands, reasonably secure in the knowledge that they know the fiscal, regulatory and contractual conditions they will face over a period of years that are sufficient to recoup their investment and make some money.
natural_resources  institution-building  institutions  Canada  independent_judiciary  integrity  political_infrastructure  predictability  property_rights  civics  rule_of_law  institutional_integrity  work_ethic  oil_sands  judiciary  judges 
april 2014 by jerryking
Former Xstrata CEO raises $2.5-billion for new company - The Globe and Mail
ERIC REGULY
- EUROPE BUSINESS CORRESPONDENT

X2’s goal is to create a mid-tier mining and metals group. The company consists of a small office in central London and five executive partners, all of whom worked with Mr. Davis at Xstrata. They include Trevor Reid, who was Xstrata’s finance director, Thras Moraitis, Andrew Latham and Ian Pearce. Mr. Pearce, of Toronto, was the CEO of Xstrata Nickel, formerly Falconbridge Ltd., the Canadian nickel miner bought by Xstrata in 2006 for about $22-billion (Canadian).

With ample funding in place, X2 is expected to move quickly on the acquisitions front. The company won’t say where it is looking, though the team has intimate knowledge of the mining scene in Australia, Canada and South Africa. Mr. Davis is a South African and was the chief financial officer of Australia’s Billiton before its merger with BHP in 2001.

X2 will consider buying operating companies or assets that are being discarded by the big players such as BHP, Rio Tinto and Anglo American, which overpaid for assets before the 2008 collapse in the belief that the upward commodities cycle was unstoppable. They have taken billions of dollars of writedowns in the past couple of years.

ROME — The Globe and Mail

Published
Monday, Mar. 31 2014,
Mick_Davis  Xstrata  Eric_Reguly  mining  natural_resources  commodities  overpaid  commodities_supercycle 
april 2014 by jerryking
Canada heading for energy ‘gridlock,’ group warns - The Globe and Mail
Dec. 12 2013 |The Globe and Mail |SHAWN McCARTHY.

Canada is heading for a gridlock in energy development that will rob the country of future wealth unless it can solve vexing environmental and aboriginal conflicts, a blue-ribbon group including senior Calgary business people warns in a new report.

Concerned about growing conflict over resource development, 21 high-profile leaders from business, environmental organizations and First Nations met over the course of a year and concluded there is an urgent need for detente in the country’s heated debate over resource development.
Alberta  energy  aboriginals  Calgary  Canada  gridlock  energy_development  resource_development  natural_resources  anti-development  environment 
december 2013 by jerryking
Canada’s future depends on a new deal with First Nations - The Globe and Mail
Nov. 29 2013 |The Globe and Mail | Bob Rae.

Two underlying trends are now making the issue of genuine and deep reconciliation a matter of necessity rather than mere political choice: a continuing expansion of Canada’s resource industries to the heartland of traditional first nations’ territories, and a demographic revolution that is transforming Canada’s inner cities – first nations are no longer “out there”, they are now “right here”.

The challenge of reconciliation will require a clearer and stronger response from all sides. “Capacity building” is not a one way street. But there is an important paradigm shift underway: First Nations are taking an ownership stake in infrastructure, hydro, and other developments; companies are addressing issues of jobs, training, and equity participation; governments are beginning to address issues of revenue sharing.
aboriginals  economic_development  reconciliation  Bob_Rae  natural_resources  capacity-building  paradigm_shifts 
december 2013 by jerryking
Blackwater's Founder Blames U.S. for Its Troubles - WSJ.com
Nov. 17, 2013 | WSJ |By Dion Nissenbaum.

Now, Mr. Prince says, he is done working for t he U.S. government. He has invested millions in setting up Frontier Resource Group, a private-equity firm that operates in more than a dozen African countries. The firm is building an oil refinery in South Sudan, owns a cement factory in the Democratic Republic of Congo, conducts aerial gas and oil surveys across the continent, and is looking at taking over idle oil wells damaged by insurgents in Nigeria, he said.
security_&_intelligence  entrepreneur  private_equity  memoirs  oil_refiners  CIA  Blackwater  books  drones  covert_operations  Africa  political_risk  frontier_markets  natural_resources  Leon_Panetta 
november 2013 by jerryking
'Big Mick' returns to mining - and he's hungry for acquisitions
October 1, 2013 | Globe & Mail | ERIC REGULY.

Mick Davis is back in the mining game....Mr. Davis, older, leaner but still hungry, along with a few former Xstrata executives, has launched X2 Resources, a private company that has raised $1-billion (U.S.) and plans to raise more. The goal is to give it the firepower to pounce on mining assets that the X2 executives consider undervalued in a market that has lost its love for commodities....Mr. Davis is bullish on commodities and thinks the selloff that sent mining company values plummeting is overdone, although he does not see a return to the "explosive" demand that turned mining companies such as Xstrata into some of the biggest wealth generators of the pre-2008 era. "We still have a lot of conviction about the resources industry," he said. "We're seeing ongoing demand in the developing world and the rise of consumer markets there."

Mr. Davis built his career on this "stronger-for-longer" theory that was centred on he belief that urbanization in China, India and some parts of sub-Saharan African would send the prices soaring for the copper used in everything from plumbing to the coal burned in electricity plants....In a statement, Jim Coulter, TPG's founding partner, said it invested because "the X2 team has an impressive track record of building metals and mining platforms around the world."
Eric_Reguly  Mick_Davis  Second_Acts  Glencore  staying_hungry  mining  commodities  private_equity  mergers_&_acquisitions  TPG  natural_resources  X2  Xstrata  entrepreneur  privately_held_companies  urbanization  China  India  sub-Saharan_Africa  investment_thesis  undervalued  developing_countries 
october 2013 by jerryking
A new challenge for the new Mandelas
Jun. 29 2013 | The Globe and Mail | Doug Saunders.

Most of this improvement is propelled by the continent’s extremely rapid economic growth. Economies and real incomes have grown about 5 per cent annually for most of the past decade, and are now beating China and are projected to grow even faster in the coming years. At least some of this is reaching the people: Three out of four Africans now own a cellphone, a significant possession in poor countries.

All this being said, there is a disturbing lack of more lasting progress on the ground. It has become popular to claim that there are now 300 million “middle-class consumers” in Africa, almost a third of the population. This is not true in any meaningful way.

“Across Africa,” Ghanaian businessman Bright Simons wrote recently in the Harvard Business review, “incomes are rising fastest among those engaged in brokering trade in goods and services across fragmented markets … These people are rarely well-educated, though, and they share none of the cultural traits seen in the West and Asia as prerequisite to middle-class life.” Meanwhile, young and educated Africans are unable to earn anything close to the incomes that would be considered “middle class” elsewhere.

In other words, almost nobody in Africa is actually middle class: most countries are sharply polarized between a very wealthy elite and a poor who, while rising just above the level of hand-to-mouth poverty, are still unable to purchase more than the most rudimentary goods....Africa’s problems are largely self-created. Much of the continent’s new wealth comes from resource extraction (which is twice the size of any other industry). But, with a few important exceptions, governments remain unable or unwilling to keep much of this wealth within their borders or use it to create other, more lasting economies.

Now that Africa is close to solving the old problems of absolute poverty and democratic stability, it needs to overcome the new challenge of creating a real middle class – a challenge that will require another generation of Mandelas.
Doug_Saunders  Africa  middle_class  movingonup  natural_resources  resource_extraction  commodities  cultural_values  leaders  politicians  fragmented_markets 
june 2013 by jerryking
It’s a big fracking world out there, and people are getting angry - The Globe and Mail
Jun. 21 2013 | The Globe and Mail | By Shawn McCarthy who reviews The Power Surge: Energy, Opportunity and the Battle for America’s Future
by Author Michael Levi.

Levi suggests a grand bargain: Environmentalists should focus less on “stopping things” and more on building support for legislation that will create incentives to cut consumption of coal, oil and, eventually, natural gas. Industry should encourage market-based incentives to reduce carbon emissions and accept reasonable regulation, even as they pursue greater domestic oil and gas production.


Published Friday, , 12:00 AM EDT

Last updated Friday, Jun. 21 2013,
energy  book_reviews  books  natural_gas  natural_resources  fracking  shale_oil  hydraulic_fracturing  pipelines  oil_industry 
june 2013 by jerryking
True innovation doesn’t flow from a pipeline
Feb. 22 2013 | The Globe and Mail |Konrad Yakabuski.

... If the oil companies can’t ship raw Canadian resources using that 150-year-old technology, they will rely on an even older one – rail. And if not rail, they might just float their bitumen on barges down the Mississippi.

Huckleberry Finn might have marvelled at this inventiveness, but it doesn’t quite cut it as a 21st-century national strategy for wealth creation. Yet our frantic obsession with exporting minimally processed bitumen is sucking up all the oxygen in the national conversation. Getting Alberta’s oil to market is “the most important economic issue” facing the country, says former federal cabinet minister Jim Prentice. There is “no more critical issue facing Canada today,” adds Enbridge chief executive Al Monaco.

In fact, the most critical issue facing Canada today may just be figuring out why we find ourselves in this situation. Raw resources can be a tremendous source of income, but they are volatile, and we’ve always known that overreliance on them is a recipe for economic stuntedness. As Bank of Canada Governor Mark Carney says: “Real wealth is built through innovation.”

Innovation is not wholly absent from Canada’s oil patch. But it’s hardly a first line of business. You’d think it would be a top priority, given the vexatious characteristics of Alberta bitumen, the oil sands’ distressing environmental footprint and the Canadian industry’s growing global image problem. Even in boom times, however, the Canadian oil and gas industry spends a piddling proportion of its revenues on research and development......Last week, PricewaterhouseCoopers predicted that the coming boom in global shale oil production could slash the price of crude by $50 (U.S.) a barrel over the next two decades. “One effect will be to cut the need for expensive, environmentally destructive extraction techniques like the Arctic and tar sands,” the head of PwC’s oil and gas team told Reuters.... the real issue facing Ontario is its failure to make the shift from making low-tech goods to advanced manufacturing, the only kind that can support middle-class wages. Governments have showered the industry with tens of billions of dollars trying to make Canadian firms more innovative, to little avail. Cash-strapped and fed up, federal Finance Minister Jim Flaherty slashed R&D tax credits in last year’s budget. The result will be even less innovation, as domestic companies cut back and foreign-owned firms shift R&D elsewhere.

“Canada’s problem,” says Robert Atkinson, the author of Innovation Economics, “is that it’s not Germany, which has a much better engineering innovation system, and it’s not the U.S., which has a very good system of science-based entrepreneurship. You’re mediocre in both.”
Keystone_XL  pipelines  crossborder  oil_industry  Mark_Carney  Ontario  innovation  oil_patch  wealth_creation  books  natural_gas  natural_resources  fracking  shale_oil  hydraulic_fracturing  Konrad_Yakabuski  oil_sands  complacency  mediocrity  commodities  volatility  cash-strapped  national_strategies  environmental_footprint 
march 2013 by jerryking
Canada’s African adventure takes a colonial turn - The Globe and Mail
Feb. 02 2013 | The Globe and Mail | by DOUG SAUNDERS.

Even though Ottawa had shifted its foreign-aid focus away from Africa a few years ago, the government has come back in force, with a new large-scale aid strategy in which its agencies work with resource companies, alongside charities and private aid groups, in a way that, in the words of International Co-operation Minister Julian Fantino, “addresses social and environmental issues of extractive sector development” and helps countries “use resource rents and investment to spur economic diversification in local communities, often focused on agricultural and agribusiness development.” It makes some sense: Canada ought to be providing this sort of aid to the people it’s contacting – sometimes beneficially, sometimes otherwise – with its resource-taking activities.

But the end effect is that Canada has landed in Africa in a big way: tearing up the land, building new towns, creating roads and pipelines and airports, and bringing in new forms of government and administration to create new economies and enforce human rights and democratic standards.

This bears a strong resemblance to what the military calls counterinsurgency: To make the local population tolerate your forceful acts and embrace your cause, you win over their hearts and minds by building roads, schools, water supplies and better farms. In the process, though, you become something like a colonial government.

Canada, not yet fully free from its own years as a colony, is far from comfortable with this role. We ought to find some other name, and some other shape, for our African project.
Africa  counterinsurgency  CSR  economic_development  economic_diversification  natural_resources  mining  Canada  Doug_Saunders  foreign_aid  corruption  oil_industry  engineering  colonialism  large-scale  resource_extraction 
february 2013 by jerryking
Underpricing risky business
February 1, 2013 | G&M report on Business pg B2 |by David Parkinson.

As energy and mining reserves have become increasingly expensive to find in other, more stable parts of the world, Africa's dangers have been glossed over in the quest to cash in on the continent’s still relatively undeveloped resources. Companies have been ignoring the risky reality, and investors have been underpricing it...Africa's significant growth potential has generated optimism, however, the geopolitical risks facing investors in Africa remain, for the most part, underestimated.”
The biggest threat to business in Africa, he argues, is “re1igious/ ideological militancy"--especially from Islamist/jihadist groups - which he says “has been vastly underestimated, and will pose significant risks to foreign investors in much of Africa."
He believes companies and their investors are underpricing the risks of doing business in Aŕrica, including rising security and insurance costs and cant project delays that could come from security threats, military conflicts or regime changes....Until the market starts pricing risk into African resource investments before a crisis forces the realization upon it, there will be little incentive for companies to seek less risky and less corrupt places to put their money.
And there will be more harsh and costly awakenìngs for investors who are themselves willfully blind to the risks.
underpricing  risks  Africa  natural_resources  political_risk  geopolitics  Mali  war  underestimation  frontier_markets  corruption  mining  mispricing  Islamists  jihadis  willful_blindness 
february 2013 by jerryking
Fence 'em in
January 25, 2013
If Stephen Harper now thinks that the oil patch is too strategic to be gobbled up by foreigners, what about farmland and gold?

ERIC REGULY
Eric_Reguly  farming  farmland  natural_resources  agriculture  protectionism 
january 2013 by jerryking
What kind of nation is a first nation? We need to decide
Doug Saunders

The Globe and Mail (includes correction)

Published Saturday, Jan. 12 2013,

Whatever form it takes, an indigenous nation will generally be what is known as a rentier state: its degree of independence hinges on the extent to which it can extract natural-resource and property rents from its land, as well as grants from outside. So environmentalists who have joined this movement in hopes that sovereign native bands will be better ecological stewards than Ottawa may be disappointed: The most independent and successful post-Indian Act nations could well resemble other post-colonial states with natural resources. The Inuit of Greenland, for example, have concluded that their independence from Denmark can best be achieved through aggressive deep-sea oil drilling.
Doug_Saunders  aboriginals  national_identity  resource_extraction  natives  disappointment  natural_resources  rent-seeking  Greenland 
january 2013 by jerryking
Absolutism in the Church of Green - The Globe and Mail
GORDON GIBSON

Special to The Globe and Mail

Published Monday, Dec. 31 2012,

Our competitive edge in this world is no longer skilled labour and capital. The world is awash in both. We either responsibly exploit our natural resources or settle for less health care, education and lower pensions.

A choice of automatic opposition to resource development is one option, if that’s what we collectively want. But that choice should be understood as a public policy question with consequences, not as a religious one of no cost.
Absolutism  environment  green  natural_resources  resource_extraction  economic_development  public_policy  consequences  resource_development  anti-development 
january 2013 by jerryking
Driving ideas to success with plan for profit
Spring 2008 | alumni gazette | Paul Wells.

High commodity prices have made it fashionable in Ottawa lately to think of Canada as an emerging natural-resources superpower. But ideas remain a cleaner, more durable and renewable resource than anything you can dig out of the ground, and there has never been a better driver for the production and distribution of ideas than the disciplined application of the profit motive.
Paul_Wells  UWO  alumni  ideas  entrepreneurship  Rotman  Roger_Martin  Ivey  commodities  natural_resources 
september 2012 by jerryking
Jeffrey Immelt has a cure for Canada's 'resource curse' - The Globe and Mail
SHAWN McCARTHY - GLOBAL ENERGY REPORTER

TORONTO — From Saturday's Globe and Mail (Correction included)

Published Friday, Mar. 30 2012
============================
the oil exporter curse, which pushed up the exchange rate, making it cheaper to import finished goods than produce them. a country’s once thriving [fill in the blank e.g. textile industry] becomes a pale shadow of itself.
Jeffrey_Immelt  GE  Canada  natural_resources  commodities  resource_curse 
june 2012 by jerryking
Exploiting Canada’s resources can be a fool’s game - The Globe and Mail
Jeffrey Simpson | Columnist profile | E-mail
From Wednesday's Globe and Mail
Published Wednesday, Feb. 22, 2012
Jeffrey_Simpson  productivity  natural_resources  competitive_advantage 
february 2012 by jerryking
Go west, young Canadians - The Globe and Mail
Margaret Wente | Columnist profile | E-mail
From Thursday's Globe and Mail
Published Thursday, Feb. 09, 2012

The country’s economic, demographic and political power are all shifting. Western power has already begun to change our national values. Stephen Harper’s majority was no fluke. He was elected by a new coalition of westerners and voters in the suburbs of Toronto. These people prefer CTV to the CBC. They think Ottawa and government should matter less, and they seldom think about Quebec at all. This is an epochal shift.
demographic_changes  Alberta  Quebec  population_growth  population_trends  Margaret_Wente  commodities  oil_industry  Saskatchewan  natural_resources 
february 2012 by jerryking
PREVIEW-Arctic nations eye future of world's last frontier
May 10, 2011 | Reuters | By Andrew Quinn.

* Evidence mounts of accelerating climate change

* Oil, shipping, fisheries eye new opportunities

* Nations boost cooperation to face shared risks
Arctic  climate_change  Greenland  oil_industry  natural_resources  shipping  fisheries 
october 2011 by jerryking
Innovation isn’t in Canada’s DNA
July 24, 2009 | Macleans.ca | by Paul Wells. “I don’t think
you could say that innovation is deeply in the DNA of our Canadian
business enterprises,” he said. “We have built prosperity, up to and
including this decade, on a fairly basic paradigm: we are rich in
natural resources. We’re good at harvesting them. And we have built a
manufacturing and processing sector, and to some degree a services
sector, which has been quite successful in exploiting access to the U.S.
market.”

So Canadian business often doesn’t do much more than build factories 20
km north of the U.S. border and lob products 50 km south. For years,
that model got a lot of help from a cheap Canadian dollar. “I got into a
certain amount of trouble when I was deputy prime minister for saying
you shouldn’t mistake a bull market for brains. The fact that the
Canadian dollar was trading at 62 cents . . . you shouldn’t take that
for granted.”
innovation  John_Manley  productivity  Canadian  CCCE  Paul_Wells  complacency  natural_resources  beyondtheU.S.  loonie  weak_dollar  bull_markets  imposters 
september 2011 by jerryking
It's good to be smart
Nov 30, 2010 |The Globe and Mail. pg. A.24 | editorial.

It may be 20 years, or 50, before there is a direct payoff from the BMO Sir Isaac Newton Chair in Theoretical Physics at the Perimeter Institute in Waterloo, Ont. Or from similar chairs to be named after Albert Einstein, Niels Bohr, Paul Dirac and James Clerk Maxwell. But the chairs are a wise investment that deserve emulating in other institutions in Canada.

It is not easy to be forward-looking in difficult times, but now is actually an excellent time to be investing in long-range projects that expand our intellectual capital. Why now? Because while other countries are hamstrung by economic problems, Canada is in decent enough shape to get a jump on attracting talent and stimulating innovation. In a borderless world economy, the value in becoming a magnet for scientists, engineers and entrepreneurs is immeasurable.

Abstract (Summary) Theoretical physics (the description of natural
phenomena in mathematical form) may seem like knowledge for knowledge's
sake. It is anything but, as Mike Lazaridis, the founder and co-chief
executive officer of the BlackBerry-maker Research in Motion Ltd., tells
it. The "next generation of value" will be intellectual capital, rather
than natural resources, he says.
Blackberry  BMO  borderless  broad-based_scientific_enquiry  editorials  endowments  forward_looking  hard_times  intellectual_capital  knowledge  Mike_Lazaridis  natural_resources  Perimeter_Institute  physicists  RIM 
april 2011 by jerryking
Put out the welcome sign for immigrants
Nov 3, 2010 / Financial Times pg. 14 / Luke Johnson. Importing
human capital generates wealth. They bring ideas - and often financial capital - and force us to raise our game to compete. Throughout history, those who would expel or persecute industrious communities - like Nazi Germany and the Jews, Idi Amin's Uganda and Asians - have been the big
losers. What we need is brainpower and willpower - they are the greatest
natural resources. Migrants are a self-selecting minority and tend to
be young and enterprising. We should continue to make our country
attractive to arrivals from all over the world who want to start a
business.
ProQuest  Luke_Johnson  human_capital  wealth_creation  self-selecting  migrants  immigrants  immigration  ethnic_communities  willpower  expulsions  displacement  persecution  Uganda  Idi_Amin  brainpower  South_Asians  natural_resources 
november 2010 by jerryking
Driving ideas to success with plan for profit
March 31, 2008 | Western News | By Paul Wells, BA'89.
Research works best when its only spur is the curiosity and energy of
thoughtful investigators with the tools to follow hunches. But the
product of their work - ideas - is likeliest to leave the lab when it is
pulled out by entrepreneurs who have an eye on the market. It's
important to get that balance right. It's pointless to fund only
research that looks likely to pay off. You can't know which ideas will
pay off. But new ideas won't go anywhere without competent managers to
implement them. Roger Martin at the University of Toronto's Rotman
School of Management has persuasively demonstrated that if Canada has
fewer high-tech industries than the United States, it's not because
we're doing less science, it's because we have a smaller
university-trained management class. Western's Ivey School of Business
is a big part of the solution, not part of the problem.
UWO  Ivey  Rotman  Roger_Martin  Paul_Wells  curiosity  commodities  natural_resources  research  R&D  entrepreneurship  commercialization  management 
may 2010 by jerryking
FT.com / Comment / Analysis - A new Asian invasion
June 24 2005 | Financial Times | By Dan Roberts, Richard
McGregor and Stephanie Kirchgaessner. "China’s strategic desire for
control of natural resources, global brands and a short cut to
international markets, combined with unprecedented access to cheap money
from the country’s state-owned banks, therefore means its companies can
afford to are ready to outbid more traditional trade purchasers and
private equity groups."
FDI  China  U.S.  industrial_policies  mercantilism  SOEs  natural_resources  brands  mergers_&_acquisitions  Asian  shortcuts  commodities  commodities_supercycle 
april 2010 by jerryking

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