Chevron LNG project to sell asset

[Macdrizzle]

https://www.cbc.ca/news/canada/calga...take-1.5392105

Just another example of investors leaving this anti-business country.

Just heard from 2 buddies who work as investment bankers at Scotiabank and RBC. One bank went from 9 deals at the start of the year down to 2 (all failed) and the other went from 10 down to 3 (all failed deals).

The mining company I'm currently working in has had our CAPEX halved in 2019, then halved again for 2020. I've been trying to apply for other jobs for the past 3 months on and off with no success. Not even an interview.

So sad to see a country with so much land and natural resources and so much potential get squandered due to leaders with poor business acumen who put bureaucracy before problem solving.

A lot of doom and gloom headlines lately:
Alberta's youth unemployment hitting 20% https://www.cbc.ca/news/canada/calga...dire-1.5390778

and Canada as a whole losing 71K jobs last month
https://www.cbc.ca/news/politics/mor...bers-1.5390152

What's the consensus with everyone? Is anyone working for a company that's actually doing well and growing?

[ghostguy6]

I hit a milestone 2 weeks ago, 250 job applications and not a single reply other than the automated "thank you for your application, only those selected will be contacted" email.
At least I'm still employed for now. Although the government cut our funding by 30% and I work in a field that designs cleaning processes for O&G as well as clean energy.

I know a man with 3 Journeyman tickets, welding, millwright and machinist who currently works at home depot because there is so much competition for any skilled jobs out there.
I only see things getting worse from here.

[fishtank]

its a ugly sign of the thing to come ... usually when one packed up and leave, they moved on, not coming back anytime soon. these are billions dollar decisions. if its not too late a warning to fellow canadians .. everyone should and need to tighten our belts and get ready to weather this recession .

[MooseRiverTrapper]

Originally Posted by Macdrizzle

https://www.cbc.ca/news/canada/calga...take-1.5392105

Just another example of investors leaving this anti-business country.

Just heard from 2 buddies who work as investment bankers at Scotiabank and RBC. One bank went from 9 deals at the start of the year down to 2 (all failed) and the other went from 10 down to 3 (all failed deals).

The mining company I'm currently working in has had our CAPEX halved in 2019, then halved again for 2020. I've been trying to apply for other jobs for the past 3 months on and off with no success. Not even an interview.

So sad to see a country with so much land and natural resources and so much potential get squandered due to leaders with poor business acumen who put bureaucracy before problem solving.

A lot of doom and gloom headlines lately:
Alberta's youth unemployment hitting 20% https://www.cbc.ca/news/canada/calga...dire-1.5390778

and Canada as a whole losing 71K jobs last month
https://www.cbc.ca/news/politics/mor...bers-1.5390152

What's the consensus with everyone? Is anyone working for a company that's actually doing well and growing?

Brutal. Tough times everywhere.

[nebcfarmer]

What I wanna know is: what are they saving these resources for? Kinda tin foil, but are they planning on flooding the country when we are gone and needing the resources then?

[jpohlic]

Work's been slow for me in Alberta for the past 2.5-3 years. I found some decent contract work with a builder in Terrace BC that is doing really well due to the LNG pipeline going in. I wonder how long I can count on that revenue stream???

[traderal]

[QUOTE=Macdrizzle;4072351]https://www.cbc.ca/news/canada/calga...take-1.5392105


A lot of doom and gloom headlines lately:
Alberta's youth unemployment hitting 20% https://www.cbc.ca/news/canada/calga...dire-1.5390778

Interesting that one young guy said that he wishes he had been advised of the real world in school. Kids are brainwashed into believing that they can add trillions of dollars to GDP just by playing on their Iphones. Plumbing, duh, isn't there an app for that. I used to walk past cubicles of peoplekind sitting 8 hrs a day in front of computers and every once in a while just to be a smart*** would ask, what exactly are you producing. Yes Canadians would join the knowledge based industry and lead the world, happily tapping away on keyboards. Well all this pie in the sky is finally paying off no dividends.
Canadians could have produced the best of many things if we had leaders with balz. Our friends to the south make sure we are no competition to them and they milk our cows for next to nothing.
Before the big oil boom we actually were doing ok during the Lougheed years. Then we started expanding to the stars and beyond, brought in tonnes of people, overtaxed all our infrastructure, and now we are riding a wave of debt, while giving away our coal, oil, and gas for next to nothing. Golly gee eh.

[Macdrizzle]

Originally Posted by nebcfarmer

What I wanna know is: what are they saving these resources for? Kinda tin foil, but are they planning on flooding the country when we are gone and needing the resources then?

They're not so much saving the resources as they are "reducing the footprint". To them, no production = no energy expenditure = no waste = no carbon emissions = Greta Thunberg not having an anxiety meltdown.

At the end of the day, not "stealing from Greta's childhood" and reducing carbon emission trumps all else.

[TBark]

Selling part of the stake in a project is a lot different than the project closing its doors.
The Chevron - Woodside LNG project will still likely go ahead.
They are just waiting /riding LNG Ca coat tails to complete the Coastal Gas Link pipeline.
But ya, as a whole the job outlook is poor. Hope it’s just short term.

TBark

[lmtada]

Enerkem plant by City of Edmonton garbage dump (Northside SHERWOOD Park), is looking for a few bodies. They Have a couple postings. Usually need Operators, Engineers, electricians, steam chiefs, etc.

https://enerkem.com/careers/

[monsterdon]

Between Canada's politics, global politics, and all the oil being produced elsewhere these days, I can't see oil rebounding and making Alberta rich again. I think we should get used to it and harder times are coming. If we are smart as a province (questionable) then good times will eventually come, but those are not guaranteed.

[WhiteTailAB]

Originally Posted by ghostguy6

I hit a milestone 2 weeks ago, 250 job applications and not a single reply other than the automated "thank you for your application, only those selected will be contacted" email.
At least I'm still employed for now. Atlthough the government cut our funding by 30% and I work in a field that designs cleaning processes for O&G as well as clean energy.

I know a man with 3 Journeyman tickets, welding, millwright and machinist who currently works at home depot because there is so much competition for any skilled jobs out there.
I only see things getting worse from here.

Is he a good B pressure though? there's a mega project going on in fort sask with like 5 sites around Edmonton doing fab just for that project. Shouldn't be that hard to at least get a job test and some qualifiers. In the recession it seems good welders have been hard to find which I thought would be the opposite as everyone is looking for work.

[ghostguy6]

Yes he is, when I worked with him every single weld he did passed inspection. He also has all his underwater welding tickets, he even worked on some big oil rigs all over the Gulf of Mexico and Alaska.

I think part of the problem is that welding work is only temporary contracts unless you get into a fabrication shop with multiple projects and steady work. Unfortunately these shops seem to be closing on a daily basis. You cant blame people for not wanting to leave a crappy but stable position for a temporary one. As an apprentice its almost impossible to get into a shop now, especially now that everyone requires B pressure tickets.

[Big Grey Wolf]

Traderal, excellent post, you hit the big issue facing Alberta. Everyone thought computers and cell phones would save the world including Alberta. We are a resource based economy in Canada. We will never be Silicon Valley North! We are very good at Technologies related to Oilsands , regular Oil & Gas production and Forestry. We had Grande Prairie company that built and exported Fellar Bunchers to rest of the world.
The Environmentalist and political Dreamers in Ottawa believe AI will be next technology revolution for Canada. BS lets do what we do well in Energy, Agriculture and Forestry. The world needs to build warm houses and eat!