Skip to main content

Featured

Oil Just Hit $110 — Could Canada's Energy Boom Offset the Tariff Pain?

  Published September 13, 2026 · 6 min read Brent crude touched nearly $110 US a barrel when trading opened Friday morning — its highest level since the spring — as renewed Iran-linked strikes on Saudi energy infrastructure rattled global supply. It settled back down to close the week around $104.61, but the direction of travel has been unmistakable: oil is up roughly 9-10% in the past week alone. That's bad news at the pump. But according to a CBC News analysis published this morning, it might not be bad news for Canada's economy overall. The argument: the roughly 0.5% hit to GDP from Trump's tariffs could be more than offset by the windfall Canada earns as one of the world's biggest oil exporters. For a personal finance reader, that's really two separate stories — one that costs you money, and one that might be quietly making some of your money back. Here's how to think about both sides of your own ledger. Why oil is spiking again The latest leg up traces to ...
Post a Comment
Read more

article

Labels

Congress in Crisis: Scrambling to Avert Government Shutdown



In a dramatic turn of events, the U.S. Congress is racing against the clock to prevent a partial government shutdown. This urgency follows the rejection of a demand by President-elect Donald Trump to lift the nation's debt ceiling. The House of Representatives, led by Speaker Mike Johnson, is attempting to navigate a narrow path that can satisfy both the Republican-controlled House and the Democratic-majority Senate as the midnight Friday funding deadline looms.

Conservative Republicans recently dismissed Trump's call for a five-year suspension of the U.S. debt ceiling, which could have added trillions more to the government's $36 trillion debt. This rejection has left Congress without a clear plan to avoid the shutdown. The situation is further complicated by Trump's insistence on extending the debt ceiling to 2029, a demand that has not gained traction among lawmakers.

The failure of a hastily revised alternative bill, which aimed to keep the federal budget running at its current level through March and provide $100 billion in disaster relief, has added to the uncertainty. This bill was rejected by a vote of 174-235, highlighting the deep divisions within the Republican Party and the broader Congress.

As the deadline approaches, the pressure is mounting on Congress to find a solution that can avert the shutdown and ensure the continued functioning of the federal government. The stakes are high, with potential disruptions to government services and paychecks for federal workers hanging in the balance.

Labels:

Comments

Post a Comment