The Buzz
LATITUDE
CALGARY CITY COUNCIL CONSIDERS A THIS-CENTURY OLYMPICS DREAM City leaders continue to ponder whether Calgary should throw its big white cowboy hat in the ring for the 2026 Winter Olympics. The bid could rekindle the kind of excitement generated back in 1988, when the Games first took place in the Alberta city.
the Calgary Flames owners group are far from reaching an agreement on replacing the aging Soctiabank Saddledome. Built in 1983 to replace the Stampede Corral in time for the 1988 Olympics, the Saddledome is among the oldest arenas in the NHL and widely considered to be past its prime.
Earlier this year, the 17-member Calgary Bid Exploration Committee spent thousands of hours and $3 million assessing the economic costs and benefits of hosting the Games. When the committee’s final report failed to make a recommendation this fall, city council voted to spend another $1 million on exploring a bid. The city plans to decide in 2018. Meanwhile, on another sports and entertainment front, a pessimist might say that the future of NHL hockey in Calgary is uncertain. Mayor Naheed Nenshi — re-elected in October — and
To cover the $555 million estimated cost of a new arena, Mr. Nenshi has proposed a three- way split between owners, ticket buyers, and the city. The owners would get full control of the arena and 100 per cent of its revenues. But they say paying property taxes, or lease or rental charges, cuts too deeply into revenue to make the proposal acceptable, especially when combined with a ticket surcharge. What was the original, unadjusted con- struction cost of the Saddledome? Try $97.7 million. WE’RE READY TO START PRODUCTION, CHEVRON SAYS OF DUVERNAY BASIN After three years of exploratory drilling along the Duvernay shale basin, Chevron, an APEGA Permit Holder, has announced that it will begin commercial development there. The formation, which stretches across east- central and northern Alberta, is a potential source of natural gas and high-value liquids like condensate, a sought-after diluent used in the oil sands. Initially, the Calgary-based company will develop around 55,000 of the 330,000 acres it controls in the region. It has a 70 per cent interest in the area near Fox Creek, about 260 kilometres northwest of Edmonton.
HIGHWAY IMPROVEMENTS WILL BOOST THE ECONOMY AND IMPROVE SAFETY IN NORTHWESTERN ALBERTA, PROVINCE SAYS Nearly $200 million in highway improvement projects should make for safer, easier journeys in northwestern Alberta. Over the next three years, the province will invest in 18 different projects along Highway 40, between the Yellowhead Highway and Grande Prairie. About 180 km of roadway will receive upgrades such as grade widening, repaving, improvements to safety rest areas, new climbing lanes, and culvert repairs. Also, two bridges in the Grande Cache area will be replaced. The Government of Alberta hopes to make transportation safer and easier for residents and commercial enterprises. Benefiting economic sectors will include oil and gas, forestry, and tourism.
30 | PEG WINTER 2017
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