Five things you should know before you start your work day on Feb. 13

Montreal's Jacques Cartier bridgePostmedia file photo

Good morning readers! Today we have a variety pack of stories. We shouldn’t be looking all over the world for trade, we shouldn’t expect oil to be profitable in another decade, nor should we expect our cannabis supply to equal its demand for another five years. But we should watch for results of SNC-Lavalin’s latest legal challenge, and for Saskatchewan’s case against Trudeau’s carbon tax.

ANOTHER DOMINO

SNC-Lavalin is facing a criminal probe for fraud over a $127 million contract to refurbish the Jacques Cartier bridge in Montreal in the early 2000s. The company has not yet been charged, but if it is, it will then face increased scrutiny in a judicial review of charges in relation to a Libyan contract. One federal official has already been found guilty of accepting $2.3 million in bribes related to the bridge project.

RESOURCE ROUT

Can oil be facing its twilight within a decade? The possibility is something management needs to address now, one prominent analyst says, because the slower pace of rising demand may not be enough to spur crude prices that justify projects with decade-long investment cycles. The sector could lose its ability to recover from price slumps entirely as global oil demand peaks by the 2030s — or sooner.

NAFTA NOW

Canada’s best chances for trade growth may not be in China, McKinsey Global says. Naomi Powell parses a new McKinsey report and finds that because Asian countries are consuming more of what they produce and manufacturers are locating closer to their customers, Canada’s best trade opportunities are likely to be found much closer to home. That’s why trade pacts are so important now.

SLOW GROWTH

Aurora Cannabis CEO Terry Booth says it will be at least five years until Canada’s marijuana supply overtakes demand. And, that makes him lose sleep. Aurora is the first cannabis company to post earnings this week; Vanmala Subramaniam reports that it posted an 83% jump in revenue this quarter over last and its sales jumped 162%.

CARBON ON TRIAL

Saskatchewan Premier Scott Moe writes about why he is fighting Trudeau’s carbon tax in court this week. Those Canadians who oppose a carbon tax will be watching for the result. Moe believes Trudeau’s carbon tax is unconstitutional and fails to respect the sovereignty and autonomy of provinces for matters that fall within their jurisdictions.

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