February 2015 by Lazy Faire

FOR AND BY BUSINESS STUDENTS

February 2015

THE ENERGY ISSUE!

GET ACQUAINTED WITH THE OIL & GAS INDUSTRY

PLUS:

STEPPING UP YOUR WINE TASTING GAME

SAGAR

MEMON BALANCING AMBITIONS & STAYING HAPPY

CONTRIBUTORS EDITOR-IN-CHIEF Rachel Lee

CREATIVE

February 2015

CONTENT EDITORS Kawthara Shire Lindsay Hofer Tammy Leung WRITERS Bonnie Truong Felicia Liang Garry Deng Ilhaam Jiwaji Kara Hauca Kyra Cusveller Louis Liu Nicole Hammond Rebecca Okrainec Robyn Paches Thomas Yonan Travis Garner Tsega MacDonald

Editor’s Note

What’s Up

SMART WAYS TO DRESS FASHIONABLY AND STAY WARM FOR THE WINTER! Your guide to making cold-weather style statements

NETWORKING IN THE ENERGY INDUSTRY Basics on networking effectively in Alberta’s largest sector

FASHION TRENDS

ART DIRECTOR Carol Wong DESIGNERS Bonnie Truong Christina Stefaniuk Deanna Bains Erin Struble Nichole Chen Shannon Fidler Shirley Du

NETWORKING SMARTS

THE KEYSTONE XL DEBATE To build, or not to build?

SAGAR MEMON Being busy and staying positive with the BSA’s Vice President External

JEREMY BRYANT From the Big 4 to following his passions

BUILDING A BETTER COMMUNITY WITH ENACTUS Social entrepreneurship and the triple bottom line

5 DAYS FOR THE HOMELESS The 2015 team’s thoughts on their campaign

ANPCC

THOUGHT VS. THOUGHT

PHOTOGRAPY COORDINATOR Galee Khau PHOTOGRAPHERS Arianna Biasini Cassian Soltykevych Felicia Liang Michael Zhang

STUDENT SPOTLIGHT

STRATEGIC COMMUNICATIONS DIRECTOR Kevin Espenido

EXTERNAL RELATIONS

EVENTS Zhayate Meng COORDINATORS Steven Co MARKETING COORDINATOR Amy Yang

CLUBS CORNER

EXTERNAL DIRECTOR Leslie Chiang SPONSHORSHIP COORDINATOR Kelsea Zalaski

COMMUNITY CENTRE

PRODUCTION SPONSORED BY Priority Printing PwC Xerox Canada

Taylor Banister & Blue Knox

LAZY CHAT

SPECIAL THANKS TO Diana Wyley

EVERYTHING YOU WANTED TO KNOW ABOUT THE PRICE OF OIL BUT WERE AFRAID TO ASK Oil price hikes

GETTING TO KNOW THE OIL AND GAS INDUSTRY How does oil get processed?

WEBSITE www.lazyfaire.com

cover designed by CAROL WONG cover photographed by CASSIAN SOLTYKEVYCH

WINE TASTING What should I look for when it comes to wine?

EDITOR’S NOTE

eing a part of Lazy Faire was a chance taken on a whim. As I waited in the long line for

student, a copy of Lazy Faire landed on my hands. A girl introduced the magazine as a student run publication run by and for the students, and urged me to have a look through the pages. thinking that the name was pretty clever, and I pushed the magazine into the pile of paper I already had in my hand from previous orientation sessions. Later that week, as I was organizing my desk, I picked up the magazine again. This time, I was amazed at the professionally attractive cover, intrigued by the colors and the words. I opened up the magazine and had a glance over it. I was impressed by the quality of the magazine, and even further amazed when I learned that it was completely run by the students, on a monthly basis. I admit that I joined Lazy Faire on a whim. I remember thinking ‘why not?’ as I submitted my application. I remember thinking that this would be a low commitment volunteer work, and that it would just be one of those things that I would be casually involved in. Could I have been more wrong?

Three years later, I look back and Lazy Faire has been an invaluable part of my time in SoB. The countless meetings with executives, the various connections I made with both students, staff and business professionals, and the amazing team members that I spent my time with have degree. During my three years in the SoB, Lazy Faire has been an epitome of the types of experiences one should have to maximize the learning opportunities outside of the classroom. Never once did I regret joining this team and it’s impossible to imagine how my undergraduate experience would have changed had I not taken the chance. Now the this experience. As we recruit for the executive positions of Lazy Faire, the outgoing team is looking forward to meeting people like you, who can take charge and open a new chapter of Lazy Faire. Are you up for the challenge?

RACHEL LEE Editor-in-Chief

WHAT’S UP

REDUCE YOUR CARBON FOOTPRINT!

LazyFaire

Spend less time (and gas) driving cheapest gas station near you.

It’s been nearly 10 years

Compare every day consumer products on Good Guide. This app will provide information on just how environmentally conscious products are, and suggest alternatives at similar prices. The best part is that you can get instant information by scanning the barcode of a product at the store!

Other tips for conserving energy using your phone: Recycle your old phone! Visit

Take the time to unplug these devices when not in use. Use phone cases that are environmentally friendly.

written by NICOLE HAMMOND designed by ERIN STRUBLE

Conserve more fuel while carpooling by using the new car sharing app Live Rides. It’s a great way to meet people, commute inexpensively, and it’s Canadian-made too!

You can calculate your ecological footprint with ecoFootprint to see how your footprint compares with others. You can even get suggestions for improvement.

What are you excited for in 2015? After graduating, I’m going to travel Southeast Asia until my pockets are empty. I’ll probably go for about four to five months as a minimum, depending on how far I can stretch the budget.

TRAVIS GARNER (Writer)

KYRA CUSVELLER (Writer)

MAJOR SMO YEAR 4

MAJOR International Business YEAR 3

How do you conserve energy?

How do you conserve energy? The nice thing about conserving energy is that small changes can build up and have a big impact. I try to take the stairs instead of the elevator, and do my laundry in cold water. I also walk or take transit whenever I can. What are you excited for in 2015?

I take the bus or ride my bike whenever I can. I live in Sherwood Park, so it’s a long way for me to go into the city for school or work. I want to move into the city to bike more and rely less on my car.

I’m going on the BUEC 444 study tour to China in May! I’ve never been to China, so I’m looking forward to learning about their culture and business practices firsthand.

MEET THE TEAM Have you had any involvement in the energy sector?

What are you excited for in 2015? I am very excited to be working at KPMG as an accounting co-op student. It is my first time working at a full time job, and I will be there for 8 months. I am also interested in taking some time off to finally travel! I am planning to go somewhere tropical for my vacation, hopefully to see the ocean for the first time!

Both of my co-op jobs were heavily involved in the energy sector. My first was in oil service supply at Canada Pump & Power, and my second was in electrical transmission at AltaLink. What was it like working for such large companies? Large energy companies do a lot to develop an attractive corporate culture. The amazing environment culture at AltaLink taught me the importance of looking for culture in a job search. Regardless of whether you are working in a position that is your absolute passion, or just a workto-live type job, it is difficult to be happy without strong work relationships!

What gives you energy?

ERIN STRUBLE (Designer)

REBECCA OKRAINEC (Writer)

MAJOR Marketing GRAD

MAJOR Accounting YEAR 3

written by NICOLE HAMMOND

I love swimming and running. Even just being outdoors helps rejuvenate me! Another source of energy I have is from friends, family, and other loved ones. Anyone who is as happy and excited as I am about any topic helps to keep me engaged.

FASHION TRENDS

SMART WAYS TO DRESS FASHIONABLY AND STAY WARM FOR THE

Winter!

Ever get dressed up to go outside when it is 30 below out and realize you look exactly like the Michelin Man? Do you put on so many different layers that you become unrecognizable? Every being frozen while still remaining stylish and looking your best.

Even if the cold never bothers you anyway, here are a few ways to ensure out rather than bury you underneath.

Want to build a warm winter wardrobe from the start? Here are seven steps that can help you accomplish dressing smart for the cold.

1 4 written by REBECCA OKRAINEC designed by ERIN STRUBLE

ENERG Y INDUST RY

IN THE N E T WO

RKING

NETWORKING SMARTS

It’s a term we hear all too often in business: networking. If you’re anything like me; constantly hearing about networking can get tiring. However, there’s a reason behind this buzzword’s continuous use. Networking is extremely important in gaining the upper hand in the ultra-competitive job market you are about to enter as a BComm graduate. Being in the Alberta School of Business, the most prevalent industry in our work atmosphere is the energy industry. Networking within the industry can give you an advantage over other applicants. However, this industry holds unique challenges to effective networking. With countless jargon terms and a fast moving climate, arming yourself with a basis of information and following current events will be your competitive advantage. Where can you obtain said information? Thankfully our school has a program dedicated to the energy industry. Courses within the Natural Resources, Energy and Environment (NREE) major are structured to provide the tools you’ll need to be competitive within Alberta’s dynamic energy sector. Personally, being born and raised in Alberta and working in the energy industry for years, I thought I was pretty savvy in oil & gas. After taking BUEC 463, I started times more knowledgeable. After taking any NREE courses, the accounting crowd with ACCTG 463, natural resource accounting, the BLAW side, with BLAW 428, and market understanding and general knowledge in BUEC 363 & 463. The next step is staying on top of current events. The energy industry is especially dynamic, even more so recently with the drastic fall in oil prices worldwide. This can be as easy as checking a news medium during your morning commute. Many excellent sources exist, some personal favorites include: Bloomberg, Maclean’s, Globe & Mail, Oil Week and Daily Oil Bulletin. When networking, it’s important to make an impact with whoever you are

written by ROBYN PACHES designed by BONNIE TRUONG & CAROL WONG

interacting with. One way to do so is by keeping a repertoire of interesting you’ve developed through research and possibly some courses in the NREE program, you will come across as a competent and well-spoken individual in conversations surrounding current industry events. Now that you’ve set up your arsenal of industry knowledge and you’re keeping up with the news, where can you utilize these new tools to network? Starting on campus, the University of Alberta Energy Club hosts regular speaker events as well as meet-and-greets. These events are attended by students across campus, providing an opportunity to not only improve your professional network, but your campus network as well. Every September, Alberta Energy Challenge (AEC) provides opportunities to compete in an energy themed case competition. As a participant, you’ll have the chance to learn about the industry from competitors across the world and meet corporate judges and sponsors. Outside of campus, the Edmonton branch of Young Professionals in Energy hosts monthly networking events and workshops aimed at expanding networks and growing essential skills. The primary group attending these events is young corporates and new graduates; this provides current BComm undergrads an excellent chance to learn. Admission is either free or at a low cost, and open to anyone interested in the energy industry. With a solid knowledge base and a growing network, you should start thinking about landing that coveted job. Job opportunities in energy vary across all disciplines, and supply chain management just to name a few. By staying involved in the energy community through networking events, and maintaining the professional connections you make, you can ensure that when your application comes across the desk, it will be noticed.

THOUGHT VS. THOUGHT FOR: The Keystone XL Pipeline Project is a proposed 1,897 km crude oil pipeline, which starts in Hardisty, Alberta and ends in Steele City, Nebraska in the mid-west United States. TransCanada Corporation claims that the pipeline will bring the benefits of increased job opportunities, energy security, and will improve relationships with the communities involved. TransCanada plans to employ over 20,000 workers for the construction and manufacture of the pipeline itself, and claims that, in the long term, “the project would support more than 42,000 direct and indirect jobs nationwide.” The Canadian Energy Research Institute predicts that Keystone XL will add $172 billion to America’s gross domestic product by 2035 and will create an additional 1.8 million persons-years of employment in the United States over the next 22 years. Developing energy security for the United States is at the center of TransCanada’s promotion for the pipeline. The pipeline could reduce the American reliance on oil imports from unstable regions such as Venezuela and the Middle East up to 40 percent. The overall reduction of foreign oil imports and ability to transport oil easily across

E N O T S Y E THE K the U.S. would help to encourage domestic production and growth. The pipeline, which connects to the Gulf Coast, will enable both Canada and the U.S. to increase sales of oil to the rest of the world. The Canadian Energy Research Institute estimates that growing production from Canada’s oil sands will increase U.S. economic output by $45 billion per year until 2035. Even though the U.S. desires to reduce oil imports, importing from Canada is thought to be preferable to other locations like Saudi Arabia. TransCanada is committed to providing benefits to the communities that will be propelled by the construction of the pipeline and its eventual operation. The corporation connects key community stakeholders such as landowners, municipalities, emergency service organizations and contractors on an on-going basis through the Integrated Public Awareness (IPA) program. The program is supported by TransCanada’s wholly-owned or operated facilities and activities within both Canada and the United States. TransCanada offers access to a number of Community Grants and sponsorship opportunities that will help to reinvest economic gains back into the surrounding communities. Overall, the Keystone XL Pipeline will increase the efficient flow of oil from Alberta’s oil sands (which would otherwise be shipped by train and can be dangerous) to the U.S., and will also enable the U.S. to move oil from the Midwest to the Gulf Coast. Increased energy security and the economic benefit felt by both Canadians and Americans make the project a significant investment opportunity.

AGAINST: There are numerous issues that have prevented the Keystone XL pipeline from being built thus far: the economy, risks, and politics. Arguably the biggest issue with the Keystone XL pipeline is the environmental impact. This impact is from both the pipeline itself and the impact of the extra fossil fuels that will be consumed. Do we really need that extra 700,000 barrels a day? This pipeline causes North America to be even more dependent on fossil fuels than we already are. If we continue to build all of our industries around fossil fuels, eventually we will run out and have no way to power our industries. A single barrel of oil that comes from the Alberta tar sands creates three to four times more carbon dioxide emissions than the average barrel of oil, due to the energy needed to refine it, hence the name “dirty” oil. Carbon dioxide is the primary greenhouse gas contributing to global warming. The Keystone XL pipeline has the capacity for 830,000 barrels of oil per day. If that much oil came through for a year, the usage would be equivalent to putting almost five million cars on the road.

XL DEBATE TransCanada, the oil company who is set to build the Keystone XL, has a history of leaky pipelines. These are not little kitchen sink leaks. These are massive, ducks covered in oil, featured in Dawn commercial leaks. Keystone 1 was predicted by TransCanada to leak once every seven years. Instead it leaked twelve times in the first year and over thirty times since it’s been built. The environmental impact of a single oil spill is absolutely enormous. Bitumen, heavier crude oil, sinks in water, instead of floating like normal oil, making clean up much harder. TransCanada has developed new sensors to detect large leaks, allowing the flow of oil to be stopped in 15 minutes if a leak is detected, but smaller leaks could go unnoticed for weeks and technology is not infallible. In 2010, an Enbridge pipeline carrying Alberta bitumen spilled over a million gallons of oil into the Kalamazoo River in Michigan for 18 hours. To make matters worse, the Enbridge headquarters in Edmonton heard the alarms sound when it started spilling, but never investigated it. They thought it was a blockage, so the company decided to push more oil through the pipeline to clear the blockage. It cost more than one billion dollars to clean up, a tiny bit higher than the originally estimated $5 million. A thirty-five mile portion of river was closed for over two years. If you want to look on the bright side, think of all the jobs that will be created when the Keystone XL pipeline spills. Studies found that 320 people had heath issues as a result of the spill, most commonly, headaches, nausea, and respiratory issues. So the question I am asking you is, as someone who will have to live with all the consequences of Keystone XL: is all this damage worth it? written by KARA HAUCA & THOMAS YONAN designed by SHIRLEY DU & CAROL WONG

STUDENT SPOTLIGHT

[

Sagar

]

MEMON

written by TSEGA MACDONALD designed by CAROL WONG

photographed by CASSIAN SOLTYKEVYCH

[

Sagar Memon could arguably be one of the busiest students in the School of Business. As current VP External for the BSA, part of the Leadership Certificate Program, JDC West, and a seminar manager for BUS 201, he has set some lofty goals for himself for the rest of his career. Before he graduates at the end of April, I got a chance to sit down with Sagar and look back on his time in the SoB. We talked about how important balance and positivity is in a busy life.

[ TM ] Tell us a little bit about yourself. [ SM ] Well that’s a difficult question! I like to always be happy. No matter what my mood is, I always try to be smiling. [ TM ] Tell us your greatest accomplishment during your time at the SoB. [ SM ] My greatest accomplishment would be getting the opportunity to represent the school at the Asian Business Case Competition in Singapore, along with three very talented and amazing friends. We met many interesting people from across the world, learned a lot about international business and enjoyed many adventures. [ TM ] What are your future plans after graduation? [ SM ] I’m graduating this April and I am currently waiting to hear from law schools. I hope to pursue a JD/MBA and practice law in the future. I know my future will be in Canada but where in Canada is unknown! [ TM ] If you could offer some insights to first year business students, what would you share? [ SM ] I know the typical thing everyone says is to get involved, but I would say you should find what you’re passionate about and give it your all. This could be clubs, case competitions, Lazy-Faire, or just going to school and having fun. It can even be something outside of the

school. I think it’s about finding what makes you happy and a better person and working hard at it. [ TM ] What has it been like being so involved during your time at the SoB? [ SM ] When I came into business, I didn’t think I would get involved, I thought I would just come to school, try to get good grades and hope to get into law school. However, I saw some opportunities come my way and I couldn’t pass them up. Being involved has been extremely fulfilling. I have learned a lot, made new friends, and had experiences that I will not forget for a long time to come. [ TM ] What challenges have you had to overcome during your time at the SoB? [ SM ] I think one of the biggest challenges would be trying to balance everything between personal and professional aspects. I think it’s very important to make time for yourself, your friends and your family, but that can be hard in a faculty like business. It is always important to remember that balance. [ TM ] What moment are you most proud of over the past 4 years? [ SM ] I’m most proud of being elected to be the VP External for the BSA. During the past year, I have had the opportunity to learn from a team of talented people and meet a lot more

]

students at the School of Business. It has been rewarding to hear back from students on what they would like to see and working hard to meet their expectations. The BSA is continuously changing from year to year and trying to adapt to what business students want to gain from their experience at the SoB. [ TM ] I know you’re involved in the Leadership Certificate Program, what does leadership mean to you? [ SM ] I think being a leader means that you are able to work hard and inspire others. Leaders are able to motivate those around them to do better for themselves and others without expecting to receive recognition. [ TM ] You’ve been involved in JDC West for 2 years, how has the experience shaped you? [ SM ] JDC West has shown me that you are always going to be learning. You put in a lot of work for a year and it may be a win or lose, but you realize that you learned and gained a lot from that experience. This team of 50 people has made a family that I am proud to be apart of. [ TM ] One word to describe your time at the SoB? [ SM ] Rewarding.

SOCIAL ENTREPRENEURSHIP WITH

JEREMY BRYANT Jeremy Bryant is a BComm grad and founder of the non- profit Mealshare. As of February 2015, Mealshare operates in several cities across Canada and has served almost 200 000 meals. Jeremy sat down with Lazy Faire and shed some light on how he followed his passions and took the plunge to become a social entrepreneur. TELL US A LITTLE BIT ABOUT YOURSELF. I grew up in Calgary and came up to Edmonton for school. I got my BComm at the U of A in Accounting. Right out of university, I started working for one of the Big 4 accounting firms. I felt like everyone in school told me to get a job in a big firm, climb the ladder, and once I had a lot of money, I'd be really happy. After a few months, I found I wasn't ever really excited to go to work. I never made anyone's day better. I may have made some money for a partner, but I didn't feel like I added value in many other places. So I started thinking about what else I could do, and for the past 19 months or so, I've been working with my cousin Andrew on Mealshare. HOW DOES MEALSHARE WORK? We partner with restaurants that carry a couple of Mealshare items. When a customer orders an item with the Mealshare logo next to it, we provide one meal to someone in need. The restaurant pays us a set amount for each Mealshare item sold and we forward most of that money along to a partner charity to provide the ingredients needed to create a meal. We also try to find a way to add value back to partner restaurants. We promote them on social media and we go out to events and advocate for those restaurants when we discuss the issue of hunger. WHAT GAVE YOU AND ANDREW THE IDEA FOR MEALSHARE? There are a couple of things that we considered. We looked at TOMS Shoes and found they did a great

job of showing the direct impact of buying their shoes. We also looked at restaurants and saw that the way they typically gave back to the community was by giving gift cards to charities, and the charities would auction that off to raise money. The charity would have to use resources to host the fundraiser and restaurants didn't involve their customers in the process. We wanted to create something that made an impact and created value for both. YOU MENTIONED THAT IN SCHOOL, YOU WERE TOLD THAT WORKING FOR ONE OF THE BIG 4 WAS THE RIGHT IDEA. HOW DID YOU MAKE THE JUMP FROM QUITTING YOUR JOB TO BECOMING AN ENTREPRENEUR? WHAT WAS YOUR MINDSET GOING INTO THAT? It was definitely something that I struggled with for a while. There's such a prevalent â&#x20AC;&#x153;money brings happinessâ&#x20AC;? mentality. It wasn't an easy decision. I had some great mentors and people to talk to. I also tried to take a holistic look at my life. I asked myself what I felt most alive doing and what I was most excited to be working on. For me, it was volunteering and actively helping others. So I used the skillset I developed at the U of A to drive that passion and turn it into an organization.Another thing that helped was that Andrew lived in Vancouver, working for another Big 4 firm, and was feeling the same way. It was nice to process things together; it would've been tough to step out alone. WHAT ADVICE WOULD YOU GIVE STUDENTS WHO WANT TO GET INTO ENTREPRENEURSHIP BUT NOT SURE HOW TO APPROACH IT? One thing I'd encourage people to do is low impact testing. Instead of doing a business plan with all the details fleshed out, work on it for a couple of hours and get input from a potential customer. It's much easier to change one little thing at the beginning than to change an entire plan later on. I also

encourage people to find out what they're passionate about. Starting a business is hard, and if you're not passionate about what you're doing, it's even harder. If you can make a business out of what you're passionate about, you'll have fun and be excited to go to work. Because of those two things, you'll do a great job as well. The money will follow after that. AS A SOCIAL ENTREPRENEUR, CAN YOU GIVE SOME ADVICE TO STUDENTS THAT ARE LOOKING TO GET MORE INSIGHT ON THE SUBJECT OF LEADERSHIP? Leadership is such a broad subject. When I was in school, I always thought a leader was someone who took charge, gave orders, told you what to do, and gave direction. I think what we're learning about Mealshare is that to be an effective leader, you'll get a far better result by inspiring others through your actions. Our team has grown from two of us to several more, and I'm learning more about how to lead by example, set a good tone in the organization and create a culture that inspires people to want to go to work everyday, and help make an impact. DO YOU THINK THERE ARE CERTAIN SETS OF SKILLS OR VALUES THAT ENTREPRENEURS SHOULD HAVE? One thing that's important, especially if you're going into business for yourself, is sales skills. Being able to pitch and speak confidently, whether it's about a business idea to an investor, or about yourself during an interview is a really good skill to have. Starting Mealshare, we had essentially come up with this idea that nobody had heard of before and it was in a new industry of turning charitable actions into business benefit. Those first few conversations with restaurants and potential clients were really tough. I think a little bit of passion and knowledge of how to pitch an idea was extremely helpful.

STARTING A BUSINESS IS HARD, AND IF YOU’RE NOT PASSIONATE ABOUT WHAT YOU’RE DOING, IT’S EVEN HARDER.

EXTERNAL RELATIONS

written by KEVIN ESPENIDO designed by CAROL WONG photographed by LESLIE CHIANG

CLUBS CORNER

Have you ever thought about being an entrepreneur? Perhaps you’re interested in advocating for social causes? Enactus is a student group on campus focusing on social entrepreneurship, and this month, Lazy Faire had a chance to talk to club president Alvin Yu about several projects they are currently working on. To begin, tell us about Enactus. What are the club’s goals and objectives? Most clubs at universities are divided between two camps. You have clubs that primarily focus on fundraising for bigger causes, and you have clubs that are more geared towards events such as conferences, bar nights, and competitions. Enactus is more about community-based projects that apply a long-term vision. The club is all about finding needs in the community and applying entrepreneurial concepts to help discover a solution to those needs. Our tagline is “business for a better cause,” which is very broad and encompasses a wide range of possible projects. All of our projects have to meet a triple bottom line: they must meet a social need, provide an economic benefit, and be environmentally friendly. Tell us about some of the projects Enactus is currently working on. Nutripreneur is our flagship project. The whole initiative is centered around bringing healthier food options to the cafeterias in junior highs and high schools. What you mostly see on those menus right now is fried food and junk food; there are rarely any options in terms of fruits, vegetables, or other healthy options. A lot of

social entrepreneurship:

building a better community with

people don’t think of healthy eating while they’re young, but we feel that if we can provide that knowledge to them at that stage, then hopefully it will become a part of their lifestyle. The idea is still in its infancy and we will be piloting it at JH Picard. Our long-term goal is to have this Nutripreneur concept of a healthy lifestyle café within schools become an online template for schools around the world to take advantage of. SMART Budgeting is another project we are working on. The primary goal is to provide financial education to high school students. We feel that the financial education provided in CALM classes did not provide a strong enough basis for making financial decisions later on in life. We do presentations in high schools which involve simulations of different environments demonstrating to students, for example, the reality of having kids and dealing with debt. It’s a good approximation of the real world and we’ve had a lot of success so far. We also have another project in the works. It’s a bit of a secret right now but what I can say is that it has a major business component and we are very excited for it. We’ll announcing more specifics about it later in the semester. What sets Enactus apart from other clubs in the School of Business? It’s a really great venue for would-be entrepreneurs to test out their skills and see how they would handle new and challenging situations. With Enactus you can try out ideas for a project without the financial burden and responsibility that comes with running your own business.

What is the benefit to students in helping with an Enactus project? It’s all about these little victories. People ask why I’m involved in social entrepreneurship; why do I put so much time into a project that doesn’t make me any money? I tell them that it’s the idea of being able to change people’s lives. Every morning I wake up knowing I may be able to shape someone’s direction. Where do you envision the future of Enactus? To have these projects sustain themselves. It’s a great feeling to look back after a few years and realize you were part of the catalyst that brought a whole new healthier menu to school cafeterias. Any advice for anyone interested in social entrepreneurship? I have two tips: passion and research. If you are not passionate then you are not going to want to wake up every morning and enthusiastically promote your project or deal with financial complications that may arise. You also need research as you need a strong grasp of your idea and the resources available to you. Just like you need to know your market in business entrepreneurship, you also need to know the community you are helping in social entrepreneurship.

written by TRAVIS GARNER designed by NICHOLE CHEN & CAROL WONG photograph c/o ENACTUS

Pictured above is the executive team (2014-2015) of ENACTUS University of Alberta. From left to right: Aoran Liu, Vice President of Competitions; Joanne Bartolome, Co-Vice President of Marketing; Victoria Woo, Vice President of Projects; Alvin Yu, President of ENACTUS U of A; Kelly Tran, Co-Vice President of Marketing; Kelly Xiao, Vice President of Finances; and Victoria Mah, Vice President of External Relations.

everything you wanted to know about the price of oil

ere o but w t d i a r f a

ask

If youâ&#x20AC;&#x2122;ve seen a gas station recently, you may have noticed that a digit is missing from the price per litre of regular gasoline. Thatâ&#x20AC;&#x2122;s right, gas prices are currently the lowest they have been since 2008, representing a roughly 40% drop from their most recent peak at the end of June 2014, and a drop of 30% from last year.

In February of 2014, the price of oil hovered around CAD $120 per barrel, and the average gas price was correspondingly high. Several things have happened in the past 12 months that have brought that price down. Supply and Demand. Yes, you read that correctly, ECON 101 was good for something after all. The United States has increased its production of domestic shale oil, and reduced its demand for foreign oil, creating an excess supply in the global market. And, as we all remember, a surplus drives prices down. Uncertainty. Back in November, member nations of the Organization of Petroleum Exporting Countries (OPEC) met with the goal of reaching an agreement on production curbs. But, as evidenced by the consequent price drop, consensus was never reached. For most of us, these low prices mean a little extra cash celebration, but for Alberta, the consequences are a little more severe. Our economy is largely oil-based, meaning that continued low prices will have a serious impact, potentially including: Tax Hikes. Recent news has indicated that the Alberta government has been considering the implementation of a provincial sales tax, as a way of curbing losses from reduced oil revenues. This is obviously an unpopular option, given that Alberta is the only Canadian province currently without PST. Other tax hikes being considered include an increased income tax, and a tax on gasoline. Cost-Cutting Strategies. Lower prices have resulted in oil companies Albertans, this means cutting jobs. The production of oil is a long-term game, in the sense that drilling and production facilities are expensive to implement, and are built to last. The presence of these long-term investments means that

As much as the average consumer would love to have those extra savings in their pocket, it is obvious that these prices are unsustainable for Albertans over the long term. Fortunately, the International Energy Agency (IEA) has predicted a slight rebound in prices, as global oil production will continue to grow at a decreasing rate, gradually alleviating the impact of excess supply on the market. written by LOUIS LIU designed by CAROL WONG

getting to know the

oil and gas industry

1. mining and Extraction The first step involves the actual mining and extraction of bitumen, a very sticky and thick oil product from the tar sands. Bitumen that’s near the surface is surface mined, meaning trees and top layers of soil are cleared away before truckloads of oil sands are shoveled up and delivered to an on-site processing facility where it’s mixed with hot water and separated into three layers: sand, water, and bitumen. Bitumen from the top layer is collected while the water is recycled and the remaining sand is hauled back to the mining site. Bitumen that’s located more than 225 feet underground is collected via a process called steam extraction. Simply put, two pipes are inserted deep underground – one pipe injects steam into the tar sands to help bitumen flow more easily, and the other pipe collects the flowing bitumen.

2. processing The second step involves the processing of the collected bitumen. This is usually done at an upgrading facility, where bitumen is processed into synthetic crude oil. Did you know that, on average, it takes about two tons of extracted tar sands to produce one barrel of crude oil?

3. refining The third step involves the refining of the processed bitumen which arrives at an oil refinery via a system of pipelines. At the oil refinery, oil is processed into a number of more useful products such as gasoline, plastics, and other consumer and industrial products.

4. cleanup The fourth and final step involves cleaning up the mess that typically comes with the extraction of oil. Though there are a number of different ways to execute cleanups. One well known method is the use of tailings ponds. Tailings ponds are sort of like storage containers for the remnants left over from work on the tar sands and typically consist of a mixture of water, sand, clay, and residual oil. Despite the negative stigma associated with tailings ponds for reasons like high levels of toxicity, efforts to reclaim land which tailings ponds rest upon have seen some levels of success over the last few decades.

WE LIVE IN A PRETTY AWESOME PLACE. Alberta is the only province in Canada that doesn’t have to pay a Provincial Sales Tax and, comparatively speaking, we typically enjoy lower gas prices than other provinces in Canada as well. Although decreases in oil prices will probably end up being more of a problem rather than a blessing for Albertans, our involvement in the oil and gas industry has been developed for the long-run. In fact, at least where the University of Alberta is concerned, co-op students go up to Fort McMurray on a seasonal basis to work where the tar sands are. What exactly goes on up there? This is a question that you might have when you hear the words “oil and gas.” The precise steps that go into getting oil out of the ground are probably a lot more complex than what’s detailed in this article. However, for a general understanding of basic processes and operations in Fort McMurray, this article serves as an adequate “For Dummies” version of what the oil and gas industry is all about.

written by GARRY DENG designed by ERIN STRUBLE

COMMUNITY CENTRE

This year, 8 diverse and dynamic individuals came together to face Edmontonâ&#x20AC;&#x2122;s winter head-on and raise awareness for homelessness.

written by BONNIE TRUONG designed by SHANNON FIDLER

Back Row: Andy Kim, Oliver Philipp, Garrett Rokosh, Keaton Buchberger, Jesse Young Front Row: Oshadhi Perera, Karley Frank, Tiona Tarapacki

Karley Frank, the chair for 5 Days for the Homeless, and her team met with us to share their thoughts about their upcoming challenge and goal to raise $70,000!

What is the purpose of 5 Days for the Homeless?

What is the biggest obstacle for you during this

Karley: 5 Days for the Homeless (5D4H) is an organization

challenge?

that started here at the University of Alberta in 2005, so

Oshadhi: I think, for me, it would be sleeping outside. I’ve

this year is our 10-year anniversary. Our team’s purpose

never done that before. I’ve never been camping at all so

is to raise awareness and funds for Youth Empowerment

this will definitely be a challenge for me.

& Support Services (YESS) here in Edmonton. Each team

Oliver: Keeping up with my schoolwork at some point will

across Canada has a different organization that they

be the most challenging, but I’m so passionate about the

fundraise for; usually something that they are close to that

cause that I feel it will be fine. It’s just a matter of balancing

affects their community. That’s another huge thing about 5

everything else, keeping them in check.

Days: we’ve become really close with the community.

Keaton: We have a big goal this year: $70,000. You can’t just sit and hope for people to come around and give you

As the chair for this year, what made you decide to take

$70,000. It’s going to be a lot of work for all of us to raise

the lead?

that money.

Karley: There are a couple of reasons. I’ve always grown up in a super privileged home, so I am kind of naive to

How did you get your parents to agree with what you are

the whole situation of how severe homelessness is in

doing?

Edmonton. I wanted to put myself head first into something

Tiona: My mom was worried that sleeping outside would

that really deals with that topic. The second reason is that

get me sick, but once I explained what it was for, she said it

the School of Business has tons of great organizations

was worth the cause. Getting sick would be okay.

and groups and I think that 5D4H is a wonderful group that

Andy: My mom said it will be good for you to do something

allows us to give back to the community and do something

good for other people.

for others rather than ourselves.

Karley: The hardest is not having coffee in the morning.

Each day will probably get harder and uncomfortable so

What will be the first thing you’ll do after this

what do you think will keep each of you motivated to push

challenge ends (besides showering and brushing your

forward?

teeth)?

Jesse: I guess it’ll definitely be each other. I’ve talked to

Everyone: Sleep and check Facebook, email, and so on. We

people from years prior about things we should do and

don’t get to use electronics or cell phones,

they got a board to put sayings on every morning to keep

except for Oliver to make phone calls for safety

themselves motivated. Since we’re doing everything

reasons. But we get our laptops for class.

together, it’s going to be a lot easier to have somebody bring the mood up when people are down. There are lots

Have you met with previous team members who have

of us too so we’ll be able to cheer each other up when we

done 5D4H? What do they have to say about their

need it. I don’t think it’s going to be an issue.

experience and does it make you feel more

Andy: Since all of us are passionate about the cause, I think

or less excited?

even if it does get harder, it will drive us even more. We are

Keaton: They mentioned that it was better to sleep naked in

raising money for people who are in a situation where they

your sleeping bag.

can’t give up. Sitting outside instead of sitting inside a nice

Karley: When I met up with the previous team, it got me

warm home will help us be more aware of their situation.

really excited and way more pumped. They said that things

When things do get worse, the fact that they have to stick it

can get bad and you’re going to hit a low but that’s when

out outside will drive us even more to persevere.

you’ll grow and really bond as a team. Garrett: Everyone said that you get a lot of support from the school and everyone else. The mayor even came out so they were overwhelmed with the amount of support they got last year.

Wine Tasting WHEN IT COMES TO WINE, I am like the majority of students my age. I scan the wine list for either the cheapest or most familiar names. This usually ends up being a glass of Moscato or Zinfandel. I enjoy these as much as the next person, but sometimes different occasions call for something a bit more refined, right? We’ve all seen that memorable wine tasting scene from The Parent Trap, but sometimes choosing the right wine can be a little more difficult. After some research, I have managed to condense some information for a quick and easy guide to increase your wine knowledge!

THERE ARE

5 basic types

OF WINE:

Why should anyone trust my suggestions? Well, thanks to my morning drives listening to CBC Radio and their “Summer Sipper” series, I have been able to gather some great suggestions that range from red wine to ciders! From personal experience, I can definitely attest to some of these being awesome and much tastier than the usual “go-to” options.

RED WINE Made from black grapes and can be dark or light, dry or sweet.

2013 Umani Ronchi Pecorino ($23) 2013 San Gregorio Falanghina ($23)

WHITE WINE Mostly made from green grapes and can be rich and creamy to light and zesty.

SPARKLING WINE Caused by a secondary fermentation, which creates bubbles!

DRY All the grape sugars are fermeted into alcohol. SEMI-SWEET Leaves a touch of sugars in the wine. SWEET Leaves a lot of sugar in a wine unfermented.

Rose

2013 Bonny Doon Vin Gris de Cigare ($28) 2013 Artadi Artazuri Granacha ($22)

FORTIFIED WINE Involves fortifying the wine with spirits and is usually a dessert wine.

3 levels of sweetness

Full body reds

2006 Monasterio de las Vinas Reserva ($19) 2012 Bon Anno Cabernet Sauvignon ($32)

ROSE WINE Made from removing the skins of the grape before they deeply color the wine.

THERE ARE

Crisp white wines

Cider

Thirstly Cross Cider J.K.’s Scrumpy Orchard Gate Gold Hard Cider

Bubbly

Michelle Brut from Chateau Ste. Michelle ($19) Veuve Clicquot Champagne ($37)

written by ILHAAM JIWAJI designed by DEANNA BAINS

LAZY CHAT

written by FELICIA LIANG

ANPCC

ANPCC's inaugural case competition last year was a great success. What are some goals that you have for this year's competition? TB: For this year's competition the entire ANPCC

possible, and create opportunities for students from any faculty and concentration to learn about the sector throughout the year. Weâ&#x20AC;&#x2122;ve built on the exceptional work of last year's Executive team and have been successful in our pursuit of doing so thus far.

NFPs to open students' eyes to the diversity of the NFP sector in Edmonton. We have also worked hard to connect with organizations more

What are the opportunities available to get involved with not-for-profits?

every discipline the opportunity to connect with, and learn more about, NFPs outside of the case competition by hosting a Fall symposium and a speakersâ&#x20AC;&#x2122; panel.

opportunities for students and graduates,

What are your visions for the future of ANPCC? TB: Our vision for ANPCC is to grow the competition, connect with as many NFPs as

BK: The NFP sector has so many incredible

raise awareness with business students and undergraduates to change that! The NFP sector isn't just one type of organization. In Edmonton alone, there are large and small NFPs that do work in arts and culture, health, human services, education, and the environment, just to name a few. From volunteering, to interning, to paid jobs,

there is so much that can be done in the NFP sector and the work can be incredibly rewarding!

Can you share with us a valuable experience you have had with a not-forprofit organization? BK: I have had the incredible privilege of working with dozens of NFPs locally, nationally, and internationally. From my time as an employee with the Art Gallery of Alberta to the volunteering I did with the Edmonton International Fringe Festival, I have found that working with NFP organizations has given me the opportunity to learn skills and be trusted with responsibilities can't pick just one single example because I have had so many incredible experiences working in the NFP sector. I consider it a privilege to have had the opportunity to grow personally and professionally through my work in the sector.

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