Canadian oil boom fueling luxury home sales

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Canada’s oil boom has also sparked record sales of luxury properties, with July closings of Calgary homes priced at $1 million or more up 66 percent from a year ago, the Calgary Herald reports.

Calgary-based TransCanada Corp. confirmed this week that it will go ahead with a $12 billion pipeline to transport crude oil from Alberta to refineries and shipping terminals in Quebec and New Brunswick.  Calgary-based Husky Energy said it racked up second-quarter profits of $610 million. Source: calgaryherald.com.