Trident Exploration Corp hands 4,700 wells over to the province
High property taxes and low gas prices are being blamed for an Alberta energy company closing shop. Trident Exploration Corp said the province doesn’t have a system to help struggling energy companies handle inflating lease and property tax. The company handed over 4,700 wells to the Alberta Energy Regulator with a cleanup estimated almost $330 million.
Canadian parents to get a financial boost.
The federal government is preparing to announce an increase to the Canada Child Benefit program. It is expected to come into effect on July 20. The current program began in 2016 and provides families with a tax-free monthly payment to help with the cost of raising children under 18-years-old.
Canada turns to U.S. to mend relationship with China.
Canada is looking south of the border to help settle their dispute with China. A report from CTV said officials from Canada want the U.S. to speak directly to China on behalf of Ottawa. Relations between Canada and China deteriorated after the arrest of a high ranking Huawei executive in Vancouver. China is currently not accepting some Canadian pork and canola products.