Too bad I get my oil from Brazil tankers. I want to buy Alberta oil but I can't. Anytime someone talks about a transcanada pipeline, the politicians get dumb and shoot it down .
Breaking the boom and bust cycle: How Alberta is trying to diversify its economy
- Thread starter mentalfloss
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At least they will be ready for the 65 cent to the dollar economy.
Not with the price of oil recovering
Considering the bigger picture ,your statement could possibly be true
I may be seeking a camp cook job if there is a boom
Actually you are right about the NDP attempting to diversify the economy of Saskatchewan. Of course, it was the PCs who sold off its most important industry. Today Potashcorp is estimated to be worth $63 billion. Heaven forbid that the people of a province be allowed to own their own resources.
Hehehehe...Potashcorp was 800 million in debt when it was sold off. It's a testament to why governments shouldn't be in business. Just look at how the private sector turned that corporation around
It is a fact that Alberta hired thousands more government employees. Many from other provinces with a high number of NDP faithful out of work. Too bad facts fly in the face of your propaganda.
The people still own the resource. They just are no longer responsible for the debts of the company that mines it. As it should be.Governments should not own businesses of any kind.Even services that it is desirable to have a single payer like medical and education do not need to be run by government employees.
Right - I guess that the various oil holdings in Alberta and Saskatchewan should be taken over since they are also massively in debt. Potashcorp was in debt not because of financial mismanagement, but because there was a global drop in potash prices similar to what the oil industry experiences. As I said, holding on to a corporation that is now worth $63 billion would have been far smarter than selling it off to foreign investors.
Foreign investors are always on the lookout for fire sales. They buy them because they are lucrative winners, not because they are loosers.
I wish I was a coal baron,being able to triple dip,I wish I was a coking coal baron,selling my shyte for building tanks,guns,etc
I wish I knew how to play the stock market,in the meantime I will dream about being a coal Baron
Triple dippers those coal Barons are!Talk about a welfare state!
I wish I knew how to play the stock market,in the meantime I will dream about being a coal Baron
Triple dippers those coal Barons are!Talk about a welfare state!
Lessons from the oil shock: Avoid mass firings, lavish towers and backroom deals
Did it have to be that brutal? Some companies such as Canadian Natural Resources Ltd. weathered the downturn by keeping their teams and reducing salaries across the board. Others such as Imperial Oil Ltd. kept headcount tight in good times to avoid downsizing in bad times. But the majority switched almost overnight from aggressive hiring – remember those lavish paycheques, bonuses and golden Fridays? – to pushing thousands of people out the door.
Some of those responsible for the firings even ended up with pay increases. The practice validated perceptions that the oilpatch is old, vicious and dirty, and the damage will stick.
“The downturn and resulting layoffs across the industry threaten to damage the industry’s brand as a career destination,” John England, Deloitte vice-chairman and U.S. Energy & Resources leader, wrote in a recent report on his outlook for 2017.
“As a large number of senior employees head toward retirement, companies should find ways to transfer this wealth of knowledge to the next generation of employees. When thinking about potential constraints on the recovery of the industry, we should view people as equally, if not more, critical to capital.”
Hubris is a big problem. It’s the predominant culture in oil towers, especially during boom times, and it’s done a lot of damage. It’s meant the oil and gas sector is over-confident in its view of the world, while insufficiently appreciating that of others. Many don’t even want to know or engage with others. The result has been resentment and blocked plans.
Some leaders have learned their lessons and are devoting more of their time listening to those outside the bubble. One of them is Al Monaco, president and CEO of Enbridge Inc., the company that proposed and was denied a permit for Northern Gateway pipeline.
He said in a recent speech: “Today, you can’t lead the business from your office – you need to engage on a personal level. I’m just as likely to be meeting with communities, mayors, landowners, indigenous leaders and government as I am with shareholders.”
Stop building oil towers to feed executive egos. It happens during every oil boom in Calgary. Massive buildings like the Bow Tower are commandeered to accommodate wild growth plans that never pan out.
more
Lessons from the oil shock: Avoid mass firings, lavish towers and backroom deals | Financial Post
Did it have to be that brutal? Some companies such as Canadian Natural Resources Ltd. weathered the downturn by keeping their teams and reducing salaries across the board. Others such as Imperial Oil Ltd. kept headcount tight in good times to avoid downsizing in bad times. But the majority switched almost overnight from aggressive hiring – remember those lavish paycheques, bonuses and golden Fridays? – to pushing thousands of people out the door.
Some of those responsible for the firings even ended up with pay increases. The practice validated perceptions that the oilpatch is old, vicious and dirty, and the damage will stick.
“The downturn and resulting layoffs across the industry threaten to damage the industry’s brand as a career destination,” John England, Deloitte vice-chairman and U.S. Energy & Resources leader, wrote in a recent report on his outlook for 2017.
“As a large number of senior employees head toward retirement, companies should find ways to transfer this wealth of knowledge to the next generation of employees. When thinking about potential constraints on the recovery of the industry, we should view people as equally, if not more, critical to capital.”
Hubris is a big problem. It’s the predominant culture in oil towers, especially during boom times, and it’s done a lot of damage. It’s meant the oil and gas sector is over-confident in its view of the world, while insufficiently appreciating that of others. Many don’t even want to know or engage with others. The result has been resentment and blocked plans.
Some leaders have learned their lessons and are devoting more of their time listening to those outside the bubble. One of them is Al Monaco, president and CEO of Enbridge Inc., the company that proposed and was denied a permit for Northern Gateway pipeline.
He said in a recent speech: “Today, you can’t lead the business from your office – you need to engage on a personal level. I’m just as likely to be meeting with communities, mayors, landowners, indigenous leaders and government as I am with shareholders.”
Stop building oil towers to feed executive egos. It happens during every oil boom in Calgary. Massive buildings like the Bow Tower are commandeered to accommodate wild growth plans that never pan out.
more
Lessons from the oil shock: Avoid mass firings, lavish towers and backroom deals | Financial Post
Has he ever talked any other way?
Bear in mind that a lot of those firings were in construction and exploration. When markets shrink that is where cutbacks begin. New projects get shelved until cash flow and markets improve.
Yup with 17 million head less in Canada in a decade and a half hit Alberta harder than oil but few have memories long enough to see oil was the back up plan to the BSE bust.
I wish I was a coal lobbyist
If I was a coal lobbyist ,I could and must lose weight
A good incentive
Seeking out all coal barons
If I was a coal lobbyist ,I could and must lose weight
A good incentive
Seeking out all coal barons