Opinion

Report suggests our Downtown lives or dies at whim of the provincial economy. 100 million wasted?

Published

8 years ago

3 minute read

Did we and are we going to waste a couple of hundred million dollars revitalizing the downtown? According to the city’s report, the rise and fall of our downtown rides on the provincial economy.
So did we waste hundreds of millions, on bus terminal, trails, traffic re-alignment, services, patios, arena, Riverlands and are we wasting money if we build the aquatic centre, foot bridge and a new concert hall? Why if everything rides on decisions made in Edmonton?
Other factors cited like high lease costs, suggests that property owners were gaining from our tax-payers’ largesse than the residents and businesses. High maintenance, and social issues including prostitution and drug use increased in spite of all the money spent downtown and going to be spent downtown.
Council heard about ideas like business incubators. Check my columns and letter-to-the-editor going back decades and count how many times I suggested these very things, but was ignored by the powers that be.
Please explain to us, why Red Deer is faring worse than our neighbouring communities. Why is Penhold and Blackfalds growing in this same provincial economy while Red Deer is shrinking? Why are businesses in Penhold and Blackfalds, like grocery stores expanding? Same provincial economy.
Why would an accounting firm move out of downtown into gasoline alley? I do not think they needed easier access to truck routes.
The downtown is necessary, so I am reminded, but so are other areas, not on the city’s radar. Tourism, especially sports tourism, has great potential, but only addressed in a half hearted manner. The unequal distribution of high schools and recreational facilities affect 10s of thousands of people almost daily, and not a thought given. Agriculture was a big part of our city, but lost ground to the energy sector. Government services, once a main stay in Red Deer, are losing ground to expanding satellite services in smaller communities. Big box stores and fast food are finding traction in smaller communities.
Perhaps it is time to realize that a couple hundred million of our hard earn tax dollars did not protect the downtown from a provincial downturn, while Penhold and Blackfalds grew. Then perhaps it is time to try something different.
Downsize the downtown, invest in the whole city, address the ideas of diversification, tourism, (staycation might be an idea) and perhaps make the whole city attractive to investors, visitors, and the residents.
The downtown will grow at the whim of the provincial economy and our taxes will not make any difference, so says the report.

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Middle East clash sends oil prices soaring

International / 2 hours ago

Trump not seeking ceasefire with Israel, Iran as he rushes back to White House

Crime / 11 hours ago

UK finally admits clear evidence linking Pakistanis and child grooming gangs

conflict

Middle East clash sends oil prices soaring

Published on June 17, 2025

Todayville

This article supplied by Troy Media.

By Rashid Husain Syed

The Israel-Iran conflict just flipped the script on falling oil prices, pushing them up fast, and that spike could hit your wallet at the pump

Oil prices are no longer being driven by supply and demand. The sudden escalation of military conflict between Israel and Iran has shattered market stability, reversing earlier forecasts and injecting dangerous uncertainty into the global energy system.

What just days ago looked like a steady decline in oil prices has turned into a volatile race upward, with threats of extreme price spikes looming.

For Canadians, these shifts are more than numbers on a commodities chart. Oil is a major Canadian export, and price swings affect everything from
provincial revenues, especially in Alberta and Saskatchewan, to what you pay at the pump. A sustained spike in global oil prices could also feed inflation, driving up the cost of living across the country.

Until recently, optimism over easing trade tensions between the U.S. and China had analysts projecting oil could fall below US$50 a barrel this year. Brent crude traded at US$66.82, and West Texas Intermediate (WTI) hovered near US$65, with demand growth sluggish, the slowest since the pandemic.

That outlook changed dramatically when Israeli airstrikes on Iranian targets and Tehran’s counterattack, including hits on Israel’s Haifa refinery, sent shockwaves through global markets. Within hours, Brent crude surged to US$74.23, and WTI climbed to US$72.98, despite later paring back overnight gains of over 13 per cent. The conflict abruptly reversed the market outlook and reintroduced a risk premium amid fears of disruption in the world’s critical oil-producing region.

Amid mounting tensions, attention has turned to the Strait of Hormuz—the narrow waterway between Iran and Oman through which nearly 20 per cent of the world’s oil ows, including supplies that inuence global and
Canadian fuel prices. While Iran has not yet signalled a closure, the possibility
remains, with catastrophic implications for supply and prices if it occurs.

Analysts have adjusted forecasts accordingly. JPMorgan warns oil could hit US$120 to US$130 per barrel in a worst-case scenario involving military conflict and a disruption of shipments through the strait. Goldman Sachs estimates Brent could temporarily spike above US$90 due to a potential loss of 1.75 million barrels per day of Iranian supply over six months, partially offset by increased OPEC+ output. In a note published Friday morning, Goldman Sachs analysts Daan Struyven and his team wrote: “We estimate that Brent jumps to a peak just over US$90 a barrel but declines back to the US$60s in 2026 as Iran supply recovers. Based on our prior analysis, we estimate that oil prices may exceed US$100 a barrel in an extreme tail scenario of an extended disruption.”

Iraq’s foreign minister, Fuad Hussein, has issued a more dire warning: “The Strait of Hormuz might be closed due to the Israel-Iran confrontation, and the world markets could lose millions of barrels of oil per day in supplies. This could result in a price increase of between US$200 and US$300 per barrel.”

During a call with German Foreign Minister Johann Wadephul, Hussein added: “If military operations between Iran and Israel continue, the global market will lose approximately five million barrels per day produced by Iraq and the Gulf states.”

Such a supply shock would worsen inflation, strain economies, and hurt both exporters and importers, including vulnerable countries like Iraq.

Despite some analysts holding to base-case forecasts in the low to mid-US$60s for 2025, that optimism now looks fragile. The oil market is being held hostage by geopolitics, sidelining fundamentals.

What happens next depends on whether the region plunges deeper into conflict or pulls back. But for now, one thing is clear: the calm is over, and oil is once again at the mercy of war.

Toronto-based Rashid Husain Syed is a highly regarded analyst specializing in energy and politics, particularly in the Middle East. In addition to his contributions to local and international newspapers, Rashid frequently lends his expertise as a speaker at global conferences. Organizations such as the Department of Energy in Washington and the International Energy Agency in Paris have sought his insights on global energy matters.

Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country.

International

Trump not seeking ceasefire with Israel, Iran as he rushes back to White House

Published on June 17, 2025

Todayville

From The Center Square

By Sarah Roderick-Fitch

After leaving the G7 summit ahead of schedule, President Donald Trump quashed any talk of trying to broker a ceasefire between Israel and Iran.

Trump told reporters onboard Air Force One early Tuesday morning he wasn’t looking for a ceasefire but is seeking “a real end” with the Islamic Republic “giving up entirely” on their nuclear weapons.

The president underscored previous comments regarding Iran not having nuclear weapons.

“Iran cannot have a nuclear weapon. It’s very simple – you don’t have to go too deep into it. They just can’t have a nuclear weapon,” Trump told reporters.

The president called out French President Emmanuel Macron for falsely claiming Trump was headed back to the White House in a bid to negotiate a ceasefire.

“Publicity seeking President Emmanuel Macron, of France, mistakenly said that I left the G7 Summit, in Canada, to go back to D.C. to work on a ‘cease fire’ between Israel and Iran. Wrong! He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a Cease Fire. Much bigger than that. Whether purposely or not, Emmanuel always gets it wrong. Stay Tuned!” the president posted to Truth Social.

“I’m not too much in the mood to negotiate [with Iran],” Trump told reporters. “An end, a real end, not a ceasefire, real end.”

The president tried to quell concerns that Iran may target U.S. assets in the region, reiterating earlier warnings to the Islamic Republic.

“We’ll come down so hard, it’d be gloves off…I think they know not to touch our troops,” Trump told reporters.

The president left the door open to sending Vice President JD Vance or Steve Witkoff, special envoy to the Middle East, to meet with Iranian officials.

“Depends on what happens when I get back,” Trump told reporters.

Upon returning to the White House early Tuesday morning, the president said he would head to the situation room. He argued that returning to the White House allowed him to learn more.

“Just to be a little bit, I think more well versed, not having to use telephones so much because I don’t believe in telephones, because people like you listen to them…Being on the scene is much better, and we did everything I had to do at the G7,” the president said.

The White House announced the president’s departure from the summit Monday afternoon after multiple reports claimed the U.S. was taking part in the campaign against the Islamic State.

Alex Pfeiffer, deputy assistant to the president and principal deputy communication at the White House, quickly disputed the reports.

“This is not true. American forces are maintaining their defensive posture, and that has not changed. We will defend American interests,” Pfeiffer posted to X.

Earlier on Monday, Trump posted an ominous message to Iran and its people, warning them to evacuate.

“Iran should have signed the ‘deal’ I told them to sign. What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!” the president posted to Truth Social.

He followed the warning with another post, reiterating that Iran should not have nuclear weapons.

“AMERICA FIRST means many GREAT things, including the fact that, IRAN CAN NOT HAVE A NUCLEAR WEAPON. MAKE AMERICA GREAT AGAIN!!!” he posted later.

As the conflict enters the fifth day of fighting, Israel Defense Forces announced that it had “eliminated” another top Iranian military commander.

“For the second time in 5 days – the IDF has eliminated Iran’s War-Time Chief of Staff, the regime’s top military commander. Ali Shadman, Iran’s senior-most military official and Khamenei’s closest military advisor, was killed in an IAF strike in central Tehran, following precise intelligence,” the IDF posted to X.

This is a developing story.