Annual co-op meeting set for April
The annual meeting of Red Deer Co-op Ltd. is slated for April 21 at 7 p.m. in Festival Hall at the Red Deer Memorial Centre. Members present will hear a review of the co-operative’s 2008 operations and a director’s report. Registration for the meeting will take place at 5:30, with a banquet planned for 6. Tickets for the banquet cost $5 and must be purchased in advance from any Co-op location. Red Deer Co-op’s operations in the city include two grocery stores, a home and garden centre, two liquor stores and two gas bars. It also has a grocery store, liquor store and gas bar in Lacombe.
Suncor says delayed projects will start quicker
Suncor Energy Inc.’s (TSX:SU) chief executive says delayed oilsands projects will start up more quickly after its merger with Petro-Canada (TSX:PCA), albeit at a more moderate pace than in past years.
“The enhanced cash flow and credit capacity of the new company will give us an opportunity to pace the capital expenditures more effectively than we’ve been able to in the past and will result in some of the projects going ahead much sooner than would have been possible otherwise,” Rick George said Wednesday. Suncor has put future expansions to its Firebag project and construction on its more than $20-billion Voyageur development on hold, while Petro-Canada and its partners UTS Energy Corp. (TSX:UTS) and Teck Cominco Ltd. (TSX:TCK.B) have shelved their $24-billion Fort Hills oilsands development as well. Speaking at a Chartered Financial Analyst Institute conference, George said global oil demand is expected to keep growing in the long term despite worldwide economic malaise.