Neil Young on oil sands: "Fort McMurray looks like Hiroshima" Young on oil sands Canadian rocker Neil Young is wading into the heated debate over the oil sands and the proposed Keystone XL pipeline, warning of the health effects on First Nations peoples and the "wasteland" that is Fort McMurray. Mr. Young, one of Canada's best-known singer-songwriters since the 1960s, told a conference in Washington yesterday that he recently travelled to Alberta, where "much of the oil comes from, much of the oil that we're using here, which they call ethical oil because it's not from Saudi Arabia or some country that may be at war with us." He was at a National Farmers Union conference on Capitol Hill meant to support alternative fuels, such as ethanol, which he did at length, slamming Big Oil and talk about his own LincVolt, an old Continental that runs on ethanol and electricity. Here's what he said about the oil sands: The fact is, Fort McMurray looks like Hiroshima. Fort McMurray is a wasteland. The Indians up there and the native peoples are dying. The fuels all over - the fumes everywhere - you can smell it when you get to town. The closest place to Fort McMurray that is doing the tar sands work is 25 or 30 miles out of town and you can taste it when you get to Fort McMurray. People are sick. People are dying of cancer because of this. All the First Nations people up there are threatened by this. TransCanada on Energy East The proposed $12-billion Energy East pipeline project will create an average of 2,000 full-time jobs during its five-year construction phase, TransCanada Corp. said today in releasing a new report. As part of an effort to win support for the project, TransCanada commissioned a report from Deloitte & Touch LLP on the economic benefits, The Globe and Mail's Shawn McCarthy reports. The study said the project would generate $10-billion in additional economic output during the five-year construction phase, and $25.3-billion during its 40-year operation phase. Markets on rise Global markets are gaining again today, pumped up by easing concerns over Syria and stronger economic readings in Asia. Tokyo's Nikkei rose 1.5 per cent, and Hong Kong's Hang Seng 1 per cent. In Europe, London's FTSE 100, Germany's DAX and the Paris CAC 40 were up by between 0.9 per cent and 1.9 per cent by about 8:15 a.m. Dow Jones industrial average and S&P 500 futures also gained. "Equity markets are rallying strongly this morning as the market reacts to better than expected industrial production numbers out of Beijing and reduced tensions around Syria," said Matt Basi of CMC Markets in London. "It seems global leaders are unanimous on the need to follow UN protocol and direct their efforts to intervene in the crisis down the correct channels, which makes a refreshing change to the "bomb first, argue later" approach that markets had feared." BlackBerry dips Shares of BlackBerry Ltd. are slipping in premarket action today, partly reversing yesterday's run-up as major Canadian pension funds cool to the idea of joining a buyout. The shares are down about 4 per cent. The shares surged yesterday on a British report that Prem Watsa's Fairfax Financial Holdings Ltd. was trying to bring the funds on board to take a run at the smartphone maker. Which is true. But, as The Globe and Mail's Jacquie McNish reports, the major players aren't on board given questions about BlackBerry's financial future. But at the same time, Fairfax is also talking to possible buyers for its 9.9-per-cent interest in BlackBerry. Once the king of the smartphone world, BlackBerry is now in the midst of an auction for all or part of the Canadian company. Mr. Watsa resigned from its board when it was put up for sale because of a potential conflict, given his interest in a buyout. Housing starts dip Construction starts in Canada dipped in August, largely because of condo development. Housing starts fell to an annual pace of 180,291 from July's 193,021, Canada Mortgage and Housing Corp. said today. Construction in cities fell by 5.8 per cent, primarily "reflecting a decline in the multiple starts segments," the federal agency reported. Construction of multiple units, such as condos and apartments, fell by 8.4 per cent. "August's reading was the lowest since a 176,000 print back in April and leaves the level running close to the level of underlying household formation," said Peter Buchanan of CIBC World Markets. Although today's report and yesterday's permits data suggest housing is holding up fairly well, we expect higher mortgage costs, buyer fatigue and recent policy changes to contribute to a more appreciably slowing in the months ahead.