Business Archives - Saskatchewan Herald

Canada Suspends Fuel Tax to Lower Gas and Diesel Prices

Hunter W. — Sat, 25 Apr 2026 14:58:53 +0000

Canada will temporarily suspend its federal fuel excise tax on gasoline and diesel to help consumers and businesses manage rising costs. Prime Minister Mark Carney announced that the measure will run from April 20 to September 7, 2026.

The government expects the tax break to lower fuel prices across the country. Officials estimate that regular gasoline will drop by about 10 cents per liter, while diesel prices will fall by around 4 cents per liter. These reductions aim to ease pressure on households and key industries.

Carney said the policy will support sectors that rely heavily on fuel, including transportation, agriculture, construction, and food delivery. Trucking companies, in particular, face higher operating costs due to recent increases in global energy prices. Lower fuel costs could help stabilize supply chains and reduce the price of goods.

The move comes at a time when energy markets remain volatile. Ongoing geopolitical tensions, including disruptions in major oil routes, have pushed fuel prices higher worldwide. Canada’s decision reflects a broader effort to shield its economy from these external pressures.

The tax suspension will apply nationwide and will directly reduce the amount consumers pay at the pump. Businesses that depend on diesel fuel, such as logistics and farming operations, are expected to see immediate cost relief.

However, the measure is temporary. The government plans to review market conditions before deciding whether to extend or end the policy after September. Officials have not announced any long-term changes to fuel taxation beyond this period.

Canada has used similar tools in the past to manage economic shocks, especially when fuel prices rise sharply. This latest move signals a short-term strategy to support economic activity while global energy markets remain uncertain.

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Air Canada Suspends Flights in Cuba

Hunter W. — Tue, 10 Feb 2026 06:30:52 +0000

Air Canada has stopped all flights to Cuba because airports on the island are running out of aviation fuel, forcing the airline to act fast to protect its passengers and crews. The move comes amid a deepening fuel crisis in Cuba linked to U.S. pressure on the country’s oil supplies.

The suspension took effect on February 9, 2026, after the Cuban government warned that jet fuel would likely not be available at Cuban airports as of February 10. In a press release, Air Canada said it does not expect commercial aviation fuel to be sold at airports in Havana and other cities, making normal flight operations unsafe.

Over the next few days, Air Canada plans to fly empty “ferry” flights to Cuba to bring home about 3,000 passengers who are already there. The airline also announced flexible rebooking and refund options for travellers whose flights were cancelled, offering full refunds without penalties.

Air Canada operates about 16 flights a week between Canada and four Cuban destinations such as Varadero and Cayo Coco from Toronto and Montreal. Two seasonal routes have already been cancelled due to the fuel shortage, and other flights are suspended with a tentative restart around May 1, 2026, pending improved fuel availability.

The fuel shortage stems from a broader energy crisis in Cuba, which relies heavily on imported oil, traditionally from Venezuela and Mexico. Recent U.S. measures have tightened the oil blockade, including threats of tariffs on countries that sell fuel to Cuba, effectively cutting off key fuel sources. This has left the island with dwindling reserves and critical supply gaps.

Some other Canadian carriers, like Air Transat and WestJet, said they are continuing flights for now by planning technical stops or carrying extra fuel. However, uncertainty remains high, and these airlines are monitoring conditions closely to ensure safety.

Beyond aviation, the fuel crisis is beginning to affect daily life across Cuba, including transport, power generation and tourism services, as shortages extend to petrol and other energy supplies. Many international airlines have also warned about the lack of refueling options at Cuban airports in the coming weeks.

This disruption highlights how energy shortages can ripple through travel, tourism and national economies, especially for a country like Cuba that depends heavily on foreign visitors and imported fuel.

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SaskEnergy Fires 13 Employees After Fuel Theft Discovery

Hunter W. — Wed, 04 Feb 2026 17:16:10 +0000

SaskEnergy has fired 13 employees after finding that fuel was allegedly taken from inside the company without permission in a major theft case, according to the latest losses report from the Crown Investments Corporation of Saskatchewan.

The alleged thefts happened mainly in SaskEnergy’s construction department and are believed to have taken place between February 2024 and summer 2025. The fuel was taken over many months, and investigators are still working to find out exactly how much was stolen.

SaskEnergy, a Crown corporation that supplies natural gas to homes and businesses in Saskatchewan, reported the incident to police and hired an independent investigator to help uncover what happened. The company’s internal auditors are also reviewing the case. A full report on the loss is expected to be finished this month.

In its quarterly report on losses of public money, SaskEnergy said it plans “to recover the value of the fuel taken.” The value of the missing fuel has not yet been made public.

The loss report also highlighted other recent cases involving employee misconduct in provincial Crown corporations. For example, SaskPower dealt with cases where employees misused corporate procurement and fuel cards for personal purchases, though many of those losses were repaid or recovered after the company took action.

Separately, the Lloydminster Housing Authority fired a manager for allegedly using company assets and buying fuel for personal use, with suspected losses estimated at more than $10,000.

The SaskEnergy situation shows how serious fuel theft and fraud are taken in public and Crown sector workplaces. Internal controls, audits and reporting to police are part of how organizations respond when employees are suspected of misusing resources.

SaskEnergy did not immediately respond with details about the next steps, but the company’s effort to involve outside investigators suggests it is treating the case as a criminal and financial matter.

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Walmart First Retailer to Reach $1 Trillion Market Value

Hunter W. — Tue, 03 Feb 2026 15:35:39 +0000

Walmart made history on February 3, 2026, becoming the first retailer ever to reach a $1 trillion market valuation. This big milestone means investors now value all of Walmart’s shares together at an amount usually seen only with major technology companies.

Walmart’s stock has risen sharply over the past year, climbing nearly 26 percent, helping push its total market value past the $1 trillion mark. This growth has outpaced the S&P 500 index, showing confidence from investors in the company’s future.

A major boost for Walmart came from a strategic move in late 2025: the company switched its stock listing from the New York Stock Exchange (NYSE) to the Nasdaq and was added to the Nasdaq-100 Index. This index is known for listing high-value non-financial companies like big technology names. Being part of this index often draws more attention and money from large investment funds.

Walmart’s success is not just about size, it’s also about change. The company has been investing heavily in e-commerce, faster delivery services and technology. This has helped Walmart appeal to wealthier customers while still serving its traditional base of budget-minded shoppers. In a tough economic environment marked by inflation and wage pressures, many consumers have turned to Walmart for value and convenience.

Walmart now joins a small group of U.S. companies worth $1 trillion or more, a list that includes giants such as Apple, Microsoft and Amazon — even though Walmart’s core business is selling everyday goods like groceries and clothing. Its shift to Nasdaq and new tech initiatives have helped it look more like a tech-friendly retailer, attracting demand from a broader range of investors.

Despite this success, Walmart still faces competition from other big names in retail and e-commerce. Amazon, another retail powerhouse, continues to lead in online sales and remains much larger in market cap overall, even though Walmart’s rapid rise shows its strength in both physical and digital shopping.

This $1 trillion valuation marks a key moment in Walmart’s evolution, from a classic discount store to a modern retail leader with a powerful mix of technology, online growth and scale.

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Amazon Choose AI and Efficiency Over People: Cuts 16,000 Job

Hunter W. — Wed, 28 Jan 2026 22:46:27 +0000

In a major move that highlights big changes in the tech world, Amazon announced it will cut 16,000 corporate jobs as part of a larger plan to streamline the company and expand its use of artificial intelligence (AI). The job cuts are one of the largest in Amazon’s history and show how companies are reshaping their workforces to focus on automation and efficiency.

The job reductions were confirmed on January 28, 2026, and come after Amazon already cut 14,000 jobs in October 2025. When combined, these layoffs bring the total to about 30,000 corporate roles eliminated since last fall, nearly 10 percent of Amazon’s corporate staff. Most of Amazon’s roughly 1.58 million employees work in warehouses and delivery, but the latest cuts hit office and tech teams across the company.

Amazon says the layoffs are part of a plan by CEO Andy Jassy to reduce bureaucracy, remove underperforming units and make the company more agile. Beth Galetti, Amazon’s top human resources executive, said the goal is to cut “layers” and give employees more ownership over their work, while also focusing on areas that drive the most growth.

At the same time, Amazon is closing its remaining Amazon Fresh grocery stores, shutting Go markets (its cashier-less convenience stores), and dropping the Amazon One palm-scan payment system, all moves that affect jobs tied to those projects.

The layoffs reflect a larger trend in the tech industry, where major companies like Microsoft, Meta (Facebook’s parent) and others have also cut workers after rapid hiring during the COVID-19 pandemic. Many tech firms expanded staff when online demand soared, but now are trimming roles as growth slows and technology like AI takes on more tasks.

A leaked internal email with a project name thought to refer to the layoffs, “Project Dawn,” mistakenly went out to some Amazon Web Services (AWS) employees, causing confusion and anxiety among staff. Departments affected include AWS, Alexa voice assistant teams, Prime Video, advertising, Kindle, and supply chain roles.

AI plays a big role in Amazon’s strategy. Company leaders say that as AI tools improve, tasks from scheduling and customer service to coding and data analysis can be automated more often, reducing the need for some jobs but potentially creating others. However, analysts caution that while AI may help productivity, it can also drive more job cuts if companies use automation to replace human workers.

Amazon’s share price also reacted to the news, sliding about 2 percent in trading after the announcement, showing how the market is watching the tech giant’s reshaping closely.

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Oil Prices Jump as U.S. Sends “Armada” to Iran

Hunter W. — Sun, 25 Jan 2026 15:51:11 +0000

Oil prices climbed sharply last week as global markets reacted to rising tensions between the United States and Iran. Traders and investors worry that conflict in the Middle East could disrupt oil supplies, pushing prices higher.

On January 23, 2026, Brent crude oil, a global benchmark, rose about 2.8 percent to around US $65.88 per barrel, its highest level in more than a week. U.S. West Texas Intermediate (WTI) crude also jumped approximately 2.9 percent to around US $61.07 per barrel. Both prices recorded weekly gains of more than 2.5 percent.

The price increase followed comments from U.S. President Donald Trump, who said an “armada” of American warships, including an aircraft carrier group, was heading to the Middle East, particularly near Iran. This deployment, along with new sanctions on nine ships and eight companies involved in transporting Iranian oil, sparked concern that oil exports could be affected if tensions escalate.

Iran is a major oil producer. According to OPEC data, it is typically ranked as the fourth-largest crude oil producer among members of the Organization of the Petroleum Exporting Countries (OPEC). Its oil plays a big role in global supply, and any threat to those exports can influence prices.

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has targeted vessels said to be part of Iran’s “shadow fleet”, older tankers that transport oil and petroleum products to markets despite sanctions. These sanctions aim to limit Iran’s ability to earn revenue from oil sales.

Markets in Kazakhstan are also adding pressure on prices. Production at the Tengiz oil field, one of the world’s largest, has been delayed due to a fire, meaning less oil supply is available from that source too.

Oil prices had dipped earlier in the week when Trump eased other international tensions, including backing away from military threats linked to Greenland. But renewed pressure on Iran shifted attention back to geopolitical risk, which tends to push up energy prices as traders price in possible supply disruptions.

The market’s latest move shows how political and military tensions in key oil producing areas can quickly affect energy costs worldwide, even without any direct conflict. Investors and governments will continue watching the situation closely, as further developments in U.S. – Iran relations or disruptions at major oil fields could influence prices even more in the coming weeks.

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Oil Surplus Expected to Swamp Global Market in Early 2026

Hunter W. — Wed, 21 Jan 2026 15:25:46 +0000

The global oil market is heading into a period of significant oversupply, with the International Energy Agency (IEA) warning that huge excess crude could weigh on prices and reshape energy markets in the early part of this year. That’s the headline from the IEA’s latest monthly report, which paints a picture of a world awash in oil, even as geopolitical risks persist.

According to the IEA, global oil supply is forecast to outpace demand by about 4.25 million barrels per day (bpd) in the first quarter of 2026, roughly 4 percent of total world oil consumption. This projected surplus is larger than many earlier predictions and highlights how production has surged faster than buyers can absorb.

Why the Surplus Is Growing

Several factors are behind the expected glut:

OPEC+ production increases: Major oil-producing countries, including members of the Organization of the Petroleum Exporting Countries and allies like Russia, began lifting output in 2025 after years of coordinated cuts. While OPEC+ has paused further increases for the first quarter of 2026, the earlier rises have already boosted global supply.
Strong non-OPEC+ growth: Countries such as the United States, Brazil, and Guyana have also expanded production, helping push total world output ahead of demand.
Seasonal refinery maintenance: Early in the year, many refineries shut down for planned maintenance, temporarily reducing crude demand and contributing to the surplus build-up.

At the same time, the IEA slightly boosted its 2026 oil demand growth forecast to 930,000 bpd, reflecting signs of steadier economic activity following 2025’s tariff turbulence and softer prices. But even with stronger consumption, supply gains are outstripping demand, resulting in a substantial imbalance.

Despite fears earlier this year about possible disruptions, including tensions in places like Venezuela and Iran, excess supply has so far helped keep oil prices relatively stable. Brent crude, a global benchmark, has climbed about 6 percent in 2026 but remains grounded by the looming glut.

A large surplus typically puts downward pressure on prices, which can benefit consumers facing high energy costs. However, persistently oversupplied markets also make it tougher for producers to secure investment and can strain the budgets of oil-dependent countries.

Some forecasters, including OPEC itself, see demand rising faster and therefore expect a closer balance between supply and demand this year, highlighting how forecasts can diverge.

With production still strong and refiners entering a seasonal lull, the IEA says only significant supply disruptions, such as unplanned outages or major geopolitical events, are likely to push the market out of surplus early in 2026. Policymakers and energy investors will be watching closely to see whether the oversupply persists or if demand growth eventually catches up.

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Government Bureaucracy Shut Down Local Energy Provider

Hunter W. — Wed, 02 Apr 2025 17:03:07 +0000

You First Energy (YFE), a Saskatchewan-based energy company led by Tim Cimmer, is being forced into receivership due to what they describe as excessive fees and bureaucratic red tape from the Indian Oil and Gas Company (IOGC) and the Ministry of Energy and Resources. This decision has left local communities without an affordable energy provider and raises concerns about government mismanagement in the energy sector.

According to Cimmer, YFE has long struggled with the regulatory barriers imposed by these agencies, which have made it nearly impossible to operate profitably. Despite having a productive relationship with First Nation landowners in CTK, YFE has been hamstrung by outdated regulations and financial demands that render the wells unprofitable. As a result, YFE has announced it will shut down its operations and cease running its wells by July 31, 2024.

One of the most contentious issues in this case is the Ministry’s Licensee Liability Rating (LLR) calculation. The Ministry has demanded anywhere from $130,000 to $600,000 based on this formula, arguing that the company must pay if the net present value of assets does not exceed reclamation liabilities. YFE refused to comply with these assessed fees, which ultimately led to the Ministry pushing for receivership.

The IOGC has also imposed significant financial burdens on YFE, including a claim of approximately $500,000 in unpaid royalties that allegedly stem from the wells’ previous ownership. This dispute over so-called ‘Cure Costs’ has further exacerbated YFE’s financial struggles. Additionally, other unsecured creditors—including various vendors and TransGas—are owed between $60,000 and $80,000, adding to the financial strain.

Cimmer argues that this situation highlights serious flaws in government oversight, with officials such as Jim Reiter and his subordinates failing to offer meaningful solutions. Instead, their actions have resulted in wasted taxpayer money and the dismantling of a local energy provider that was supplying affordable energy to Saskatchewan residents.

Beyond the financial losses, this case underscores a broader issue: the role of government bureaucracy in hindering small businesses. With YFE now forced to shut down, Saskatchewan taxpayers are left questioning why so much public money has been funneled into complex regulatory structures instead of supporting sustainable energy solutions.

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Ownership Status of Richard Lunemann in the Keeley Lake Lodge Dispute

Hunter W. — Fri, 09 Aug 2024 08:00:00 +0000

Amidst the legal tumult surrounding Keeley Lake Lodge Ltd., the recent court hearing on April 28, 2023, delved into the intricacies of the Demand Loan Agreement (DLA) and Share Option Agreement (SOA) between Richard Lunemann and Timothy Cimmer. These pivotal documents, recommended and presented by esteemed lawyer James Kirby, were designed to safeguard the interests of both parties involved in the share transaction. Mr. Kirby, a former partner at MLT Aikins LLP, acknowledged the successful completion of the share transfer in an email exchange dated August 9, 2016, underscoring the legitimacy of the transaction.

Notably, The Honorable Mr. Justice N. Bardai, associated with the Keeley Lake Lodge case, shares a professional past with James Kirby at MLT Aikins LLP. While acknowledging the shared history between them, it’s crucial to recognize Mr. Kirby’s credibility within Saskatchewan law. Given Mr. Kirby’s acknowledgment of the share transfer, it’s reasonable to expect that the court, including The Honorable Mr. Justice N. Bardai, will uphold the transaction’s legitimacy.

The legalities surrounding Keeley Lake Lodge has seen its fair share of twists and turns. From backdated agreements to contested ownership claims, the courtroom story has unfolded over two decades. However, amidst the complexities, one must recognize the importance of legal documents as evidence.

In the face of the Niessner family’s sudden claim of majority ownership, it’s imperative for the courts to rely on concrete evidence and exercise common sense. The 20 years of consistent tax records contradicting the Niessners’ claim should not be disregarded lightly. Moreover, the initiation of a new lawsuit in New Jersey raises questions about the credibility of their assertions and legal strategies.

In light of the court’s ruling finding both Cimmer and Lunemann at fault, ordering compensation to the Niessners, it’s crucial to reassess the approach to such legal disputes. Rather than resorting to prolonged legal battles and harassment, courts should prioritize the examination of legal documents and employ common sense to discern the truth.

Timothy Cimmer, in his pursuit to acquire ownership of the lodge, should not be unjustly vilified. His involvement, including the loan funds for Lunemann’s defense, was driven by a desire to ensure the best interests of the lodge. The courts should acknowledge his intentions and refrain from painting him as a mere pawn in the legal proceedings.

In conclusion, the legal intricacies surrounding Keeley Lake Lodge underscore the importance of relying on legal documents as evidence while exercising common sense in adjudicating disputes. Timothy Cimmer’s actions should be viewed in the context of his commitment to the lodge’s well-being, rather than subjected to unwarranted scrutiny. As the legal proceedings continue, it’s imperative for the courts to uphold fairness and justice for all parties involved.

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Indian Oil and Gas Company Forces Local Canadian Firm Into Receivership

Hunter W. — Thu, 08 Aug 2024 08:00:00 +0000

The Indian Oil and Gas Company (IOGC) and the Ministry of Energy and Resources forced the local Canadian company You First Energy (YFE) into receivership due to absurd fees and bureaucracy. As a result, You First Energy cannot afford to provide cheap energy to local Canadians. These unnecessary fees prevent them from running wells on native lands, yielding profits, and significantly impacting the community, Saskatchewan taxpayers, and the company’s operations.

You First Energy, in a move that shows the injustice they’ve faced, announced they will cease operations and shut down their wells by July 31. Persistently low natural gas prices since the acquisition of the wells have led to significant losses. Future Now Enterprises Inc., the primary investor, has incurred substantial losses and is no longer willing to invest further funds, hoping prices will improve to profitable levels. Even if prices were to improve, the wells would still operate at a loss because of the Ministry of Energy and Resources and the Indian Oil and Gas Company.

Government officials, who should be helping to find solutions, have become lazy, greedy, corrupt, and negligent. Jim Reiter, a minister from the Ministry of Energy, has ignored numerous concerns, and his subordinates, Candace Dominique and Brad Wagner, have failed to follow rules or common-sense practices for Saskatchewan taxpayers, costing millions.

Tim Cimmer, president of You First Energy, stated they have a great relationship with the First Nation landowners CTK but have been forced by the Ministry of Energy and Resources and the Indian Oil and Gas Company to impose a receivership carryover with MNP controlling the order, wasting Saskatchewan taxpayers’ money by millions over the last five years. Cimmer said they were employing locals, supplying Saskatchewan residents, and could sustain low gas prices given their production capacity. However, the losses are estimated to be between $500,000 and $800,000, plus the purchase price due to outdated 20-year-old rules and historically low gas prices.

The list of creditors is long and varied. The Indian Oil and Gas Company claims about $500,000, mainly for royalties before Abbey’s receivership, the previous owner. They argue that historical unpaid royalties attach to the wells, making the current owner responsible. This claim falls under ‘Cure Costs,’ a term in the contract that refers to the costs a new owner must incur to rectify past issues. The Ministry of Energy and Resources demands $130,000 to $600,000 based on a Licensee Liability Rating (LLR) calculation. This calculation, based on their formulas, requires the company to pay if the net present value of assets does not exceed reclamation liabilities.

You First Energy refused to pay this assessed amount, leading to the threat of receivership by the Ministry of Resource and Energy. Other unsecured creditors include various vendors owed $60,000 to $80,000, and TransGas, guaranteed by Future Now Enterprises Inc., must be paid about $20,000. Additionally, $20,000 of Carbon Tax is owed, reduced from $40,000 due to retained GST claims. An application to overturn this amount is being processed, but the chance of acceptance is low due to government wrongdoing, placing another burden on Saskatchewan taxpayers. Instead of using the $27 million liability already forfeited from these wells to the Orphan gas fund, which the Saskatchewan people should audit to learn why so much money has been given to MNP, taxpayers should track these funds to see if there has been overspending on obscured costs.

This situation shows the severe impact of excessive fees and bureaucratic hurdles on local energy providers. You First Energy’s shutdown means a loss of affordable energy for Canadians and highlights the challenges small companies face in the energy sector. With their corrupt fees and exploitative practices, different entities are driving local businesses under, causing significant economic and social harm. These practices undermine local companies’ survival and deprive communities of essential services and affordable energy, exacerbating financial strain on local Canadians. The forced closure of You First Energy reminds us how powerful entities can disrupt local economies and livelihoods through unfair financial demands.

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