The Official Contempt for Alberta Thread

[CDNBear]

Re: Oil price pain seeps into other sectors of Alberta economy

PS - love the comment about diversifying a provincial economy, especially coming from BC who's only real industries left standing are tourism and collecting taxes related to real estate

Don't forget moving what other provinces produce to overseas markets, and products from overseas markets to provinces.

Alberta should have diversified into seaports.

 

[petros]

Re: Oil price pain seeps into other sectors of Alberta economy

Cattle drives from Lethbridge to Delta Port. That's what BC needs. Put slaughterhouses and packing plants in Richmond right beside Delta Port right behind Cabelas. Since their are no sewage concerns chum the waters and have the Injuns do shark watching tours.

But Alberta doesn't have a thriving agindustry since they never diversified.

 

[CDNBear]

Re: Oil price pain seeps into other sectors of Alberta economy

Cattle drives from Lethbridge to Delta Port. That's what BC needs. Put slaughterhouses and packing plants in Richmond right beside Delta Port right behind Cabelas. Since their are no sewage concerns chum the waters and have the Injuns do shark watching tours.

Should turn fresh water bodies in Alberta to salt water and import sharks so Albertan's can start diversifying into shark tourism.

But Alberta doesn't have a thriving agindustry since they never diversified.

Or a heavy equip industry.

Or a thriving trades industry.

Or a thriving carpentry industry.

Or a thriving Ag R&D industry.

 

[petros]

Re: Oil price pain seeps into other sectors of Alberta economy

Get in on the act, Chief Manbearshark Shark Tours...

SK has salt lakes BTW.

Or a heavy equip industry.

Or a thriving trades industry.

Or a thriving carpentry industry.

Or a thriving Ag R&D industry.

Agri manufacturing too. Most of your list is built from 100% recycled, powered by hydro and whirlygig Regina manufactured steel.

SK spruce studs and SK OSB and plyweed sheeting supplied by Injun run forestry.

 

[CDNBear]

Re: Oil price pain seeps into other sectors of Alberta economy

There's no diversimicationisms goin' on in Alberta. All oil, all the time. Flossy and company says so.

 

[captain morgan]

Re: Oil price pain seeps into other sectors of Alberta economy

Get in on the act, Chief Manbearshark Shark Tours...

Holy crap, that was hilarious!

 

[Angstrom]

Re: Is Oil Industry’s $1.6 Trillion Debt Bubble Going to Burst?

Justine had better think long and hard about letting the industry falter.... As per the OP, the banks are holding a sh*t ton of debt and if the E&Ps slide into foreclosure, it will drag the banks into a bad place.

Add to this that most pension funds (incl the Canadian Gvt), investment funds, mutual funds, et al all have significant positions in oil companies (and banks).... Well, it doesn't take a senior analysts to determine that the cost to the average Joe, in terms of their assets, net worth and retirement plans, will be extremely heavy

According to Flossy, this is a good thing. Big oil should die.

 

[captain morgan]

Re: Is Oil Industry’s $1.6 Trillion Debt Bubble Going to Burst?

Well, many other secondary things will die right along side of it

 

[Angstrom]

Re: Is Oil Industry’s $1.6 Trillion Debt Bubble Going to Burst?

Well, many other secondary things will die right along side of it

like our high standards of life.

 

[Ron in Regina]

Re: Oil price pain seeps into other sectors of Alberta economy

The more appropriate question is how Alberta could have avoided this......

Well, they could have left the oil in the ground, and
sucked off the Fed Gov't's *** on a Provincial level for
the last half a century. You know, entitled to their
entitlements and such instead of working their
butts off. That would have hamstrung the rest
of Canada as a whole economically but Alberta
could have avoided this current economic turn
down in the oil industry in this manner.

And it's been 40 plus years of big equalization contributions to places like BC.

PS - love the comment about diversifying a provincial economy, especially coming from BC who's only real industries left standing are tourism and collecting taxes related to real estate

BC is the second lowest net recipient of equilization
payments with only Alberta being lower....& Sask
being the third lowest. Just say'n...

 

[petros]

Re: Oil price pain seeps into other sectors of Alberta economy

Only because of immigration. There would have been negative growth.

 

[mentalfloss]

Bursting of Alberta's oil bubble on display at St. John's airport

Bursting of Alberta's oil bubble on display at St. John's airport

Some of the most obvious signs in Newfoundland and Labrador of Alberta's oil industry downturn can be found at St. John's International Airport.

To see these signs, you have to wake very early in the morning.

Around 4 a.m., long before most alarm clocks start ringing, you'll see them.

That's when the dwindling number of workers who commute to and from Alberta's oil patch can be found, sitting in the terminal, waiting to board a flight out West, or for a ride to their homes in communities all over the province.

For years, many rural communities have been propped up by big wages earned in Alberta and Northern Canada.

It peaked in 2014, when approximately 30,000 passengers boarded charters in St. John's and flew directly to the oilpatch. As many as 10 flights a week took them there.

Oil prices then were above $100 US per barrel, and companies were spending billions on new projects to capitalize on the bonanza.

It was impossible not to notice the vast number of skilled trades workers and other specialists making their rotational trips to and from what seemed to be an endless number of jobs in the lucrative oilsands near Fort McMurray.

Bursting of Alberta's oil bubble on display at St. John's airport - Newfoundland & Labrador - CBC News

 

[mentalfloss]

Manufacturing sales in Alberta down 15.9%, StatsCan reports

Manufacturing sales in Alberta down 15.9%, StatsCan reports

Sales on upswing at end of 2015 in 7 other provinces

Sales of products manufactured in Alberta dropped 15.9 per cent from the end of 2014 to the end of 2015, according to the latest figures from Statistics Canada.

On a month-to-month basis — from November to December last year — sales dipped 2.4 per cent, mostly because of decreased activity in the petroleum and coal sectors.

The national picture was much brighter, with sales on the uptick in the last month of 2015 in seven provinces.

"In December, sales increased in the motor vehicle and wood products industries, representing over half of the national gain," Statistics Canada said in a release.

"Chemical products, miscellaneous products, ship and boat building, as well as other transportation equipment also posted higher sales, which accounted for almost one-third of the overall increase."

However, from 2014 to 2015, national manufacturing sales declined 1.5 per cent, the first annual dip since 2009 — a statistic skewed by Alberta's economic woes.

"The petroleum and coal products industry was mainly responsible for the downturn in 2015," Statistics Canada said.

Manufacturing sales in Alberta down 15.9%, StatsCan reports - Calgary - CBC News

 

[bill barilko]

Re: Bursting of Alberta's oil bubble on display at St. John's airport

No one cares....

 

[mentalfloss]

Re: Bursting of Alberta's oil bubble on display at St. John's airport

Are you surprised?

 

[petros]

Re: Bursting of Alberta's oil bubble on display at St. John's airport

Needed to bump the tripe?

 

[mentalfloss]

Re: Is Oil Industry’s $1.6 Trillion Debt Bubble Going to Burst?

Oil price collapse expected to shift, reduce worker demand in oilsands | Calgary Herald

 

[petros]

Re: Is Oil Industry’s $1.6 Trillion Debt Bubble Going to Burst?

Sorry to break your heart but production isn't dropping and the export railcars are pipelines are flowing.

The only difference is a boatload of Eastern tradesmen and labourers are pulling in pogey.

 

[mentalfloss]

Re: Is Oil Industry’s $1.6 Trillion Debt Bubble Going to Burst?

You mean pogo.

 

[petros]

Re: Is Oil Industry’s $1.6 Trillion Debt Bubble Going to Burst?

Are you sucking the glass cock already? It's what? Quarter past 9 out there?