Yup, and the bust will wipe out pretty much any house value in places like Ft Mac. When (or if) it fires up again, I could see Ft Mac being an industry town with the houses owned by the companies (like northern reserves).I predict some of the companies in the patch know if they seriously mothball all of it, a lot of it will NEVER reopen in the next two decades. All the sub contractors and 'agencies' will go, and thousands of support jobs in Edmonton and Calgary, but I suspect a few corners of the patch will live on. A mere shadow of thier former self.
I have two kids up there, one directly involved and one just employed in Ft Mac. Its ugly.
Or they could just set the town on fire and leave it to mother nature.Yup, and the bust will wipe out pretty much any house value in places like Ft Mac. When (or if) it fires up again, I could see Ft Mac being an industry town with the houses owned by the companies (like northern reserves).
That was the primary goal of the Heritage Fund. Alberta has neither the political or business braintrust to pull that off. They just blew the money.I wonder....if it would be cost efficient to set up refining and raw material manufacturing plants directly on the oil fields. Ie refine the crude bitumen then use the oil as feedstock for plastics etc in-place? Would the transport savings offset the low oil price? So instead of being an oil supplier, Alberta becomes a plastics and materials supplier? Especially if they look at the manufacture of valuable materials like elaborate polymers?
Well they probably qualify for the 3200/mo income assuming their company isnt tits up already. Still nowhere near enough to float the toy payments.Kenney is in full panic mode
deemed oil patch workers essential - that won't change a thing
can't create demand, the Oil Co's will lay them off anyway
blaming everyone, Trudeau, Saudi Arabia, Russia
everyone but himself and previous governments
royalties been cut to nothing - no revenue coming in
Kenney wants pipelines!
to where? no one wants/needs that oil
again, a pipeline doesn't create demand
Trudeau's reply:
"We are focused on helping those Canadians, helping people who are hardest hit by economically by COVID-19.
The measures we've put in place will support Canadians right across the country including in our oil and gas sector."
JT is talking about EI
oil patch dudes can't keep up the payments on the crew cab
the Harley, the Skidoo and the $900,000 house on 2K/month
Alberta is screwed
Hard to feel sorry for them. I remember years back I would read stories about how they were laughing at all the "idiots" who went to university etc when they were making double or triple the money with only a high school diploma.oil patch dudes can't keep up the payments on the crew cab
the Harley, the Skidoo and the $900,000 house on 2K/month
Alberta is screwed