The decline of the Alberta dream, in one chart

[petros]

Have you ever heard an oil company set production targets in $ or is it always Barrels Per Day? Has production slowed?

Is it really OPEC's doing? When you look at the Saudi economy they have slowed too. They have had to cancel oodles of mega projects. They've been wounded twices as hard as we have. They've had to cancel converting electricity from oil burning power generation to "green" LNG and solar.

Look south of the border to the overinflated US dollar. We are in the midst of an energy war

 

[CDNBear]

There's a plan already in Alberta.

Show me the plan for transitioning jobs from oil to green, in Alberta. Because that's what I asked for, since this thread is about Alberta.

The reason for the low prices has nothing to do with your silly graphs or armchair quarterbacking and everything to do with Apec opening up the taps and flooding the market with cheap oil. They are doing this to try and drive their competitors into the ground so that they can again hold the world oil prices hostage. Part of their reasoning is because the United States, under a left wing Democratic Government, has been fracking the living crap out of everything and is no longer dependent on foreign oil.

I love when people hold up graphs and say, "See! See! Alberta voters should have known!"

Nobody saw this bust coming. This is nothing like any of the slowdowns from the past, but the typical extreme Lefty, much like the a$$hole who started the Op, can't see past their narrow minded hate of the right.

At least some on the left like Damngrumpy get it. A crash in Alberta will affect the entire country, I know a lot of folks from the East Coast that are now very in a lot of trouble, because they depended on those Alberta jobs to support their families. And they did not go there out of greed. In the truck driving industry from NS, PEI to Newfoundland, drivers work 4 on 4 off at an hourly rate that varies between 14 and 18 dollars an hour. That is why they come to Alberta, because the wages in these places are garbage and the work is part time. That is what started happening in Ontario, and that is why I left.

Dance for joy all you want, gloat like a motherFer, but this will affect all of Canada.

They don't matter to Fluffer, the messiah or the messiah's new disciples. All that matters to the Fluffer and the messiah's disciples is what the messiah thells them.

 

[petros]

Flossy is the methia.

Nothing in the plan to develop western Canadian ports and infrastructure funded by oil has changed other than the amount that will now be debt.

 

[B00Mer]

www.youtube.com/watch?v=GEfoGXdk48U

 

[mentalfloss]

Yes you guys are absolutely right.


And by absolutely right I mean in catastrophic denial.

 

[Cannuck]

The price of oil will inevitably go up. Rachel and Justin, like every other politician will become addicted to to revenues. MF will cry. Boomer will continue to hate immigrants. CB will continue to troll. Petros will continue to talk about things he doesn't understand. Cliff and Das will post silly memes. JLM will be crotchety. The sun will rise in the east.

 

[B00Mer]

The price of oil will inevitably go up. Rachel and Justin, like every other politician will become addicted to to revenues. MF will cry. Boomer will continue to hate immigrants. CB will continue to troll. Petros will continue to talk about things he doesn't understand. Cliff and Das will post silly memes. JLM will be crotchety. The sun will rise in the east.

 

[Bar Sinister]

Nobody saw this bust coming. This is nothing like any of the slowdowns from the past, but the typical extreme Lefty, much like the a$$hole who started the Op, can't see past their narrow minded hate of the right.

Actually the decline was damned easy to predict as it is exactly like the slowdowns of the past. Oil prices as recently as 2009 were as low as $35 a barrel and if you check the period between 1975 and 1995 you will note that oil prices dropped drastically and stayed that way for two decades. I've lived in Alberta for more than 50 years and the one constant has been the instability of oil prices.

It is the job of governments (Or at least it certainly should be) to track the economy and make predictions based on that history. This is something that the PCs manifestly failed to do.

 

[Ludlow]

I blame it on how salty he is and that time he tried to stop a train with head.

How does giving head stop a train?

 

[mentalfloss]

The price of oil will inevitably go up. Rachel and Justin, like every other politician will become addicted to to revenues. MF will cry. Boomer will continue to hate immigrants. CB will continue to troll. Petros will continue to talk about things he doesn't understand. Cliff and Das will post silly memes. JLM will be crotchety. The sun will rise in the east.

This is an 85 year plan.

I'll be fine if we get oil revenue when it's needed even if it will be nowhere near what Alberta has had before.

 

[captain morgan]

How does giving head stop a train?

Clearly you haven't met Shelly yet.

I'll try and set up the introductions

 

[AnnaG]

There's a plan already in Alberta.

It was revealed a few weeks ago.

And I outlined it earlier in this thread. The Nincompoops Dipsticks Prats want to drive businesses out of AB, drive families out of AB, and freeze those that are left by cutting energy.

There's a national plan in 60 days.

I can imagine what THAT will be. "Oh, look at all those empty homes and businesses in AB, we can put the Syrians there".

There are no leaders with anything close to good sense left to oppose or govern.

Enjoy!

Fixed it for you.

The price of oil will inevitably go up. Rachel and Justin, like every other politician will become addicted to to revenues. MF will cry. Boomer will continue to hate immigrants. CB will continue to troll me. Petros will continue to talk about things he doesn't understand. Cliff and Das will post silly memes. JLM will be crotchety. The sun will rise in the east.

... and Cannuck will continue to troll, go off-topic, lie, and claim to not be a hypocrite, MHz will continue to post incoherent nonsense, the Beav and I will continue to have fun, and Blackleaf will continue to be one of the funniest British jokes and feeble-minded "men" ever.
lol And yes, the sun will rise in the east. I agree. hahaha

Actually the decline was damned easy to predict as it is exactly like the slowdowns of the past. Oil prices as recently as 2009 were as low as $35 a barrel and if you check the period between 1975 and 1995 you will note that oil prices dropped drastically and stayed that way for two decades. I've lived in Alberta for more than 50 years and the one constant has been the instability of oil prices.

It is the job of governments (Or at least it certainly should be) to track the economy and make predictions based on that history. This is something that the PCs manifestly failed to do.

I read some articles a few years ago that basically said that most of the price of oil is due to market speculation. So of course it fluctuates.

http://www.globalresearch.ca/perhaps-60-of-today-s-oil-price-is-pure-speculation/8878

https://www.imf.org/external/pubs/ft/wp/2014/wp14218.pdf

Why So Much Oil Price Volatility? Blame The Speculators | OilPrice.com

etc etc

How does giving head stop a train?

hehehe Dead man's switch.

 

[Retired_Can_Soldier]

Actually the decline was damned easy to predict as it is exactly like the slowdowns of the past. Oil prices as recently as 2009 were as low as $35 a barrel and if you check the period between 1975 and 1995 you will note that oil prices dropped drastically and stayed that way for two decades. I've lived in Alberta for more than 50 years and the one constant has been the instability of oil prices.

It is the job of governments (Or at least it certainly should be) to track the economy and make predictions based on that history. This is something that the PCs manifestly failed to do.

I wouldn't blame Harper for this any more than I would blame Rachel Knotley or Justin Trudeau. But feel free to drag out another graph and blame Albertans for bringing this upon themselves.

From the CBC.

OPEC turning on the oil taps about more than just market share

OPEC keeping the taps wide open, letting Saudi Arabia pick off many birds with one stone

By Paul Haavardsrud, CBC News Posted: Jun 06, 2015 5:00 AM ET Last Updated: Jun 07, 2015 8:38 AM ET

Saudi oil minister Ali al-Naimi, has many reasons to smile — and the fact that Canada's energy industry is struggling is one of them. (Associated Press)

• OPEC leaves oil output targets unchanged

• OPEC set to disappoint oilpatch
• OPEC oil glut is shattering Harper's superpower dream
• Global oil glut grows to 2 million barrels a day as OPEC pumps more

OPEC's masterminding of the world oil market is leaving Canada to wonder where exactly our reeling energy industry fits within the scheme of the cartel's strategic thinking.
By leaving its production targets unchanged at its semi-annual meeting in Vienna this week, the Organization of the Petroleum Exporting Countries is sticking with a measure that will continue to bleed competitors around the world.
In Canada, the fallout of the oil shock is already something of a national preoccupation. The idea, then, that our oil industry, at least in the mind of OPEC kingpin Saudi Arabia, is just some happy collateral damage likely won't do much for any lingering traces of our bygone global inferiority complex.

'Here is a situation in which the Saudis, with one single chess move, are able to achieve multiple objectives' — OPEC watcher Atif Kubursi​

"Obviously, we weren't the main target, but anything that slows overall growth of non-OPEC production is good in the eyes of the Saudis," said Vincent Lauerman, the director of energy and the environment at the Conference Board of Canada. "Taking us down a couple notches certainly supports their end goal."
The rationale that OPEC's move away from production quotas last November, which cratered global oil prices, was a cannon shot in the battle for market share is certainly valid.
Many birds with one stone

That said, squeezing the competition by keeping the oil market oversupplied is only one of the kingdom's many objectives. For the Saudis — whose wants can be taken as synonymous with those of OPEC despite the fractious nature of its various factions — the real elegance of this latest oil price war is how it serves so many of its purposes with a single stroke.


Politically, the Saudis would like to contain Iran's growing sphere of influence in the Middle East. The military action in Yemen is only the latest manifestation of the tension between the two countries.


"The enmities between Iran and Saudi Arabia have never been more intense or more dangerous than they are today," said longtime OPEC watcher Atif Kubursi, a professor emeritus at McMaster University.


The benefits of being the world's lowest-cost oil producer, as well as having hundreds of billions tucked away in a massive war chest, allow the Saudis to weather low oil prices with an eye towards longer-term goals.

Source; http://www.aljazeera.com/programmes/peopleandpower/2014/10/american-power-fracking-boom-2014101121933879758.html
Fracking is giving rise to a new energy abundance in the United States that has major implications for American policy in the Middle East and the debate over climate change. Over the past five years, daily oil production in the US increased 3.7 million barrels, while US net imports of oil dropped 44 percent. A revolutionary technique to tap into oil and gas reserves by drilling horizontally into underground shale formations and using liquids pumped at high pressure to open cracks in the rock, fracking is reshaping the contours of American power.
"It has huge implications for energy, for economy and for geopolitics," according to Fatih Birol, the chief economist at the International Energy Agency (IEA) in Paris. Birol compares the impact of the fracking revolution to the introduction of nuclear energy 50 years ago. The quantities of oil and gas being produced in the Eagle Ford Shale in Texas, the Bakken Shale in North Dakota, and other new energy projects in the US are huge. Over the last five years, for example, the amount of oil being produced in the Eagle Ford increased from virtually zero to 1.5m barrels a day.
Birol says that in one or two years, the US will be the number one oil producer in the world, overtaking Saudi Arabia. In 2012, it became the number one natural gas producer, passing Russia. The IEA projects that the US and Canada will be energy self-sufficient by 2020, and the US alone by 2035.
“These are historical developments,” Birol says. “The United States is becoming an energy exporter, completely new role, and the new US energy strategy, foreign policy will be based on this new reality.”

 

[darkbeaver]

A national energy programe might be in order now that fiercely independend private sector single basket victims are popping up.
What we need is refineries and pipelines, east to west west to east. Stop trusting a loaded global market.

 

[MHz]

MHz will continue to post incoherent nonsense,

Huh?

A national energy programe might be in order now that fiercely independend private sector single basket victims are popping up.
What we need is refineries and pipelines, east to west west to east. Stop trusting a loaded global market.

How about Alberta and Sask produce and the rest of the Nation buys?

 

[CDNBear]

Yes you guys are absolutely right.


And by absolutely right I mean in catastrophic denial.

Does this mean you admit there's no plan?

 

[Curious Cdn]

Justin did all that in a month and a half?

 

[tay]

www.youtube.com/watch?v=RYOLsennuQc

So how do you feel about the Alberta NDP after watching this video...???



..

I think he doesn't address the plunging price of Oil

But the reality is it's become worse than predicted in 2013 but then we didn't have Saudi Arabia trying to cripple North Americas Oil biz by depressing prices not to mention Iran's Oil ready to come on the market......

North America to Drown in Oil as Mexico Ends Monopoly - Bloomberg Business

 

[tay]

Oil prices could drop to as low as $20 per barrel next year, according to both an OPEC minister and a Goldman Sachs analyst.

Venezuelan Oil Minister Eulogio del Pino said that OPEC could not enter a price war and needed to find a way to stabilize the oil market. “OPEC has to do something very soon … We don’t agree with the position that says the market some way is going to dictate the price of crude oil. We don’t agree with that position of Saudi Arabia,” del Pino said on the sidelines of the Gas Exporting Countries Forum (GECF) Summit in Tehran on Sunday, as reported by Reuters.

In June, OPEC chose to keep its production targets at 30 million barrels a day in an effort to maintain market share and in response to the shale boom in the U.S. With Iran set to announce its production targets after sanctions are lifted, del Pino said the current market is “destroying the price of crude oil.” When asked how low it could go next year with no change in OPEC’s policy, del Pino’s response was: “Mid-20s.”

Oil Prices Could Drop to $20 a Barrel Next Year - Fortune?