Breaking the boom and bust cycle: How Alberta is trying to diversify its economy

[personal touch]

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

Global thinkers is where the success is
Say good bye to old thinkers

 

[JLM]

Agriculture
Agriculture has long been a mainstay of Alberta's economy. The province is looking to increase crop processing through programs like Alberta Innovates and the Agrivalue Processing Business Incubator, which help develop new products from farms.


Breaking the boom and bust cycle: How Alberta is trying to diversify its economy - Calgary - CBC News

As the world population is approaching 7 billion I think Agriculture may well be Alberta's role in the world. Beef, wheat, canola will be in great demand.

 

[personal touch]

Destroy your liver to yellow up and you can be a coal baron.

Maybe a lobbyist for a Baron?
Or better yet a proficient information auditor?

Not a great drinker,
Actually I went to an international business course,on my self test I identified Russia as a country which would not serve my political interests,this because of the expectations of drinking,
I am not good at drinking

 

[Murphy]

 

[petros]

oooooOooooo...10mgs

 

[personal touch]

There's nothing I like about prescription drugs,as you are aware

 

[tay]

Go with nature......

 

[Cannuck]

Pot smokers are stupid

 

[petros]

Tumbleweed smokers are stupider and thilly goothes.

 

[damngrumpy]

Peter Lougheed was the last thinking Premier Alberta had He understood the cycle
he established a Heritage Fund for that rainy day and right now its pouring. Instead
of heeding the warnings, Cline, Getty and others used the fund as a slush fund and
there is no money, no jobs, and a single revenue generator, except for Agriculture.
Notley wasn't there in time to prevent the bust that happened but she is doing what
BC and other provinces have been doing,Diversifying the economy.
Alberta doesn't have an NDP problem it has a problem understanding one party rule
for a generation or more is not a good thing. Look back Social Credit was in power
from the dirty thirties until about 1970 give or take. then the tories for four decades
they got complacent and didn't look for new ways to balance the econmy oil forever
turns out wasn't forever

 

[Cannuck]

Lougheed was a socialist. We would have been much better without him

 

[personal touch]

Pot smokers are stupid

Sure a lot of stupid people around,and growing everyday
I figure people who believe this nonsense that pot smokers are stupid,should lead the way of intelligence
Be our next PM

Lougheed was a socialist. We would have been much better without him

Now I know you are ignorant ,not worthy of intelligent conversation
Let's talk something silly

 

[MHz]

Pot smokers are stupid

Do you mean compared to the people running the world that are supposed to be drug free?? I have a memo for you, what they spend on drugs in a day is what a pot smoker would spend in a whole year. (Use the Olympic medal winner and his one night party that cost $10k as the precedent)

 

[personal touch]

Peter Lougheed was the last thinking Premier Alberta had He understood the cycle
he established a Heritage Fund for that rainy day and right now its pouring. Instead
of heeding the warnings, Cline, Getty and others used the fund as a slush fund and
there is no money, no jobs, and a single revenue generator, except for Agriculture.
Notley wasn't there in time to prevent the bust that happened but she is doing what
BC and other provinces have been doing,Diversifying the economy.
Alberta doesn't have an NDP problem it has a problem understanding one party rule
for a generation or more is not a good thing. Look back Social Credit was in power
from the dirty thirties until about 1970 give or take. then the tories for four decades
they got complacent and didn't look for new ways to balance the econmy oil forever
turns out wasn't forever

A design of good intentions in the times of the 70s and 80s,but in the end,the design was tired,and of none competitive value and and a victim belonging in history books only,here today gone tomorrow,
Thank heaven

Tumbleweed smokers are stupider and thilly goothes.

You can be the PMs assistant

 

[Cliffy]