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Alberta's oil patch sees a pessimistic assessment of profit (and tax) potential


The Globe and Mail
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For decades, Alberta’s oil patch has provided billions in revenue for both the province and the federal government. But that fiscal gusher has slowed in recent years as energy prices sputtered – most dramatically in 2020, with the coronavirus and lockdowns around the globe deflating demand for fossil fuels.
There’s an immediate impact: profits evaporating, corporate taxes withering and royalty payments dwindling. Alberta feels that decline most acutely, as this week’s Tax and Spend examines. But there are longer-term dangers as well, highlighted by massive writedowns in the value of energy assets this week by both Imperial Oil Ltd. and Suncor Energy Inc. The companies haven’t explicitl ....

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Tesla's German car, battery factories face 'massive delay': Automobilwoche


Tesla’s German car, battery factories face ‘massive delay’: Automobilwoche
Bloomberg
Bloomberg |
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Tesla’s gigafactory in Gruenheide near Berlin faces the risk of a “massive delay,” Automobilwoche reported, citing people close to the matter it didn’t identify.
Delays may hit the car plant, at which critical buildings haven’t yet been erected, and the manufacturing site for battery cells, for which the company hasn’t so far applied for a building permit with the state office, the magazine said, questioning whether production can start in five months as planned.
Tesla will also receive far less than the one billion euros ($1.2 billion) in government aid for the battery part of the project that was under consideration, the magazine said. Such aid is typically granted in the form of tax benefits, write downs or interest-free loans for 20 per cent to 30 per cent of the total sum invested, the magazine said, adding that the entir ....

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