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03-11-2020, 11:05 PM
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Join Date: Apr 2008
Location: East of the big smoke
Posts: 1,497
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Quote:
Originally Posted by Deer Hunter
Kenney knows this but needed to make this federal appeal public so that he can take credit for the bailout he will be forced to give to our energy sector. It won't go down without a fight. Alberta without oil is unimaginable to the provincial govt.
Let's hope
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If he throws taxpayers money at this he's no better than Trudeau. No tax breaks will make up for the drop in oil price. He could give away everything we have, if the price of oil stays low, we still won't have any jobs.
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03-11-2020, 11:18 PM
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Banned
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Join Date: Jun 2007
Posts: 4,158
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Quote:
Originally Posted by bsmitty27
If he throws taxpayers money at this he's no better than Trudeau. No tax breaks will make up for the drop in oil price. He could give away everything we have, if the price of oil stays low, we still won't have any jobs.
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Alternatively, if oil recovers, it could be the best investment this province has ever made.
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03-11-2020, 11:22 PM
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Join Date: Apr 2008
Location: East of the big smoke
Posts: 1,497
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Quote:
Originally Posted by Deer Hunter
Alternatively, if oil recovers, it could be the best investment this province has ever made.
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So might putting it all on red, at the yellowhead casino! You do you. But keep your hands off my money!
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03-11-2020, 11:31 PM
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Join Date: Jul 2017
Posts: 4,099
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I am with bsmitty there, absolutely 100%. You can’t be throwing money you don’t have and will really need very soon at a dead horse. If/when oil picks up, if there is money to be made, the money will be made, zero doubt in my mind. If you are going to ask me about what we are going to do in Alberta until then, I have absolutely no clue.
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03-11-2020, 11:35 PM
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Join Date: Apr 2008
Location: East of the big smoke
Posts: 1,497
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Its scary as hell!
I get it.
But it's a long walk if you gamble away your cab money!
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03-11-2020, 11:36 PM
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Banned
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Join Date: Jan 2016
Posts: 4,134
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I wonder if Trudeau is going to give the whole country a two week paid vacation right away. I’d blame the government considering even the airlines and insurance companies are tapping out but not our government because they still got this pft..
I know the paid part is wishful thinking, surely Canadas wallet won’t have the cash because he’s given it all away along with all of our supplies to fight this China Virus.
Maybe we should just consider it a gift for the good ole’ western republic of Canada. The Trudeau-5 year virus has been rough on us.
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03-12-2020, 12:08 AM
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Banned
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Join Date: Jan 2020
Posts: 129
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Notley's demanding the gov't fund "self-isolation" with no doctor's note. I like it, I was in India over the weekend and will be in Hong Kong early next week. When I get home, I think I should self-isolate for at least 3 months at full pay, good time to finally get that kitchen reno done.
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03-12-2020, 12:53 AM
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Join Date: Nov 2009
Location: East Central Alberta
Posts: 8,315
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My Conservative side can not agree with subsidizing home stay after choosing to travel in high risk areas. I understand the Gov intends to offer some financial mitigation but just because it is available does not mean risk takers should snuggle up to a teat.
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Old Guys Rule
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03-12-2020, 01:13 AM
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Join Date: Oct 2009
Posts: 4,858
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Quote:
Originally Posted by Deer Hunter
Kenney knows this but needed to make this federal appeal public so that he can take credit for the bailout he will be forced to give to our energy sector. It won't go down without a fight. Alberta without oil is unimaginable to the provincial govt.
Let's hope
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Alberta will be fine once we see a few companies close up shop, and shut in wells/ shut down mines. We’ve been overproducing compared to our capacity for years which has driven Canadian oil prices down.
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“If all mankind minus one, were of one opinion, and only one person were of the contrary opinion, mankind would be no more justified in silencing that one person, than he, if he had the power, would be justified in silencing mankind.” John Stuart Mill
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03-12-2020, 06:55 AM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,469
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Quote:
Originally Posted by raab
Alberta will be fine once we see a few companies close up shop, and shut in wells/ shut down mines. We’ve been overproducing compared to our capacity for years which has driven Canadian oil prices down.
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That is the most insane thing I have ever heard, good Lord
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Wherever you go, there you are
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03-12-2020, 07:38 AM
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Join Date: Apr 2015
Location: Lloydminster
Posts: 4,935
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__________________
The problem we have today is that the people who work for a living are outnumbered by the people who vote for a living.
We were all born ignorant but one must work very hard to remain that way.
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03-12-2020, 07:45 AM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,469
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Quote:
Originally Posted by 260 Rem
My Conservative side can not agree with subsidizing home stay after choosing to travel in high risk areas. I understand the Gov intends to offer some financial mitigation but just because it is available does not mean risk takers should snuggle up to a teat.
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Hear hear. Have friends who are leaving for southeast Asia for three weeks, with flight restrictions, they might not make it back, taking their 2 kids too--and she's a respiratory nurse!!!! Crazy. Guess I'll know where to go for extra supplies if they dont make it back.
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Wherever you go, there you are
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03-12-2020, 08:19 AM
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Join Date: Dec 2008
Location: Camrose
Posts: 46,534
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Quote:
Originally Posted by Justfishin73
Hear hear. Have friends who are leaving for southeast Asia for three weeks, with flight restrictions, they might not make it back, taking their 2 kids too--and she's a respiratory nurse!!!! Crazy. Guess I'll know where to go for extra supplies if they dont make it back.
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The obvious question, is given the current situation, why are they still going? 
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Only accurate guns are interesting.
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03-12-2020, 08:25 AM
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Join Date: Mar 2020
Location: Leduc County
Posts: 1,079
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Quote:
Originally Posted by elkhunter11
The obvious question, is given the current situation, why are they still going? |
I don’t get it either. I questioned my nephew last week. He just had to go to Cabo and told him to stay away from me when he gets back. He was not happy about my comment. Too bad I say.
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The secret of getting ahead is getting started.Mark Twain 
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03-12-2020, 08:27 AM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,469
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Quote:
Originally Posted by elkhunter11
The obvious question, is given the current situation, why are they still going? |
They are idiots, always have been. We've distanced ourselves due to their alcoholism, dont need my kids anywhere near that crap. Feel bad for their kids though.
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Wherever you go, there you are
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03-12-2020, 08:28 AM
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Join Date: Sep 2013
Posts: 367
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Quote:
Originally Posted by elkhunter11
The obvious question, is given the current situation, why are they still going? |
Because our spineless leaders in Ottawa haven't sounded the alarm yet and banned travel or issued traveled warnings.
So the sheeple continue to plan their trips to load up their instagram feed with useless vacation photos in an effort to justify their meaningless lives.
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03-12-2020, 08:32 AM
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Banned
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Join Date: Aug 2007
Location: Foothills
Posts: 2,337
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Quote:
Originally Posted by Justfishin73
They are idiots, always have been. We've distanced ourselves due to their alcoholism, dont need my kids anywhere near that crap. Feel bad for their kids though.
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Sound like good “friends”...
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03-12-2020, 08:35 AM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,469
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More like distanced acquaintances
DOW halted
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Wherever you go, there you are
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03-12-2020, 08:47 AM
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Join Date: Oct 2009
Posts: 4,858
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Quote:
Originally Posted by Justfishin73
That is the most insane thing I have ever heard, good Lord
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It’s the supply and demand cycle. This is nothing new. It’ll hurt short term as we adjust. There’s just been to many companies startup in Alberta, due to pipeline capacity. Good news is a lot of guys have already closed up shop due to getting hammered in 2015.
__________________
“If all mankind minus one, were of one opinion, and only one person were of the contrary opinion, mankind would be no more justified in silencing that one person, than he, if he had the power, would be justified in silencing mankind.” John Stuart Mill
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03-12-2020, 08:49 AM
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Join Date: Dec 2008
Location: Camrose
Posts: 46,534
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Quote:
Originally Posted by Justfishin73
More like distanced acquaintances
DOW halted
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Tsx halted as well. Down over 30% from the recent high
__________________
Only accurate guns are interesting.
Last edited by elkhunter11; 03-12-2020 at 09:14 AM.
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03-12-2020, 08:53 AM
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Join Date: Sep 2008
Location: NW Calgary
Posts: 2,785
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Quote:
Originally Posted by raab
It’s the supply and demand cycle. This is nothing new. It’ll hurt short term as we adjust. There’s just been to many companies startup in Alberta, due to pipeline capacity. Good news is a lot of guys have already closed up shop due to getting hammered in 2015.
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Bankrupt companies is good news? Adding thousands of wells to the orphan well fund is good news? Thousands of people out of jobs is good news? Wow.
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03-12-2020, 09:08 AM
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Join Date: Oct 2009
Posts: 4,858
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Quote:
Originally Posted by AndrewM
Bankrupt companies is good news? Adding thousands of wells to the orphan well fund is good news? Thousands of people out of jobs is good news? Wow.
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Free markets, as I’ve said this has been happening with oil for a long time. It’s cyclical, and long term oilfield guys know that. Every 6 years usually the cycle hits.
__________________
“If all mankind minus one, were of one opinion, and only one person were of the contrary opinion, mankind would be no more justified in silencing that one person, than he, if he had the power, would be justified in silencing mankind.” John Stuart Mill
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03-12-2020, 09:14 AM
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Join Date: Sep 2008
Location: NW Calgary
Posts: 2,785
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Quote:
Originally Posted by raab
Free markets, as I’ve said this has been happening with oil for a long time. It’s cyclical, and long term oilfield guys know that. Every 6 years usually the cycle hits.
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Long term oilfield guys would say this downturn is much different than the other ones. We don't have the same wells or pools that we used to have. Free markets would mean we have a free market to sell our products which we do not have. This isn't an oil problem, this is a government in the way problem. If you cannot take advantages of high prices due to pipelines being full, you do not get a cycle.
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03-12-2020, 09:55 AM
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Join Date: Apr 2010
Posts: 1,614
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Quote:
Originally Posted by elkhunter11
Tsx halted as well. Down over 30% from the recent high
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Yup all the doubters are bailing now too. Stubborn is not a good way to be when it comes to stock markets. There was plenty of time to take a good profit, Sheez gonna go real low. Especially the tsx. Employer Rrsp and pension plan investments are taking a beating too. That's one thing we couldnt withdraw from without taking a tax hit. And I'm scared to look. I woulda pulled out of them too if it was feasible.
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03-12-2020, 10:24 AM
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Moderator
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Join Date: Feb 2015
Posts: 8,082
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Ford stock is down 10% so far today. How low will it go. When are people going to become indifferent to the virus is the question.
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03-12-2020, 10:25 AM
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Join Date: May 2010
Location: edmonton
Posts: 3,920
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Next domino
Then come the credit squeeze and debt defaults ......
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03-12-2020, 10:28 AM
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Join Date: May 2010
Location: edmonton
Posts: 3,920
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Quote:
Originally Posted by Trochu
Ford stock is down 10% so far today. How low will it go. When are people going to become indifferent to the virus is the question.
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Well i think it will stop once it hits zero ... all bets are off until they find some order it’s crazy wild panic . Maybe warren buffet will chime in and blessed a company  , crazy timing that jpm ( biggest bank in America)Jamie Dimon is lay out after emergency heart surgery  .
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03-12-2020, 12:01 PM
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Join Date: Dec 2008
Location: Camrose
Posts: 46,534
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Quote:
Originally Posted by pikeman06
Yup all the doubters are bailing now too. Stubborn is not a good way to be when it comes to stock markets. There was plenty of time to take a good profit, Sheez gonna go real low. Especially the tsx. Employer Rrsp and pension plan investments are taking a beating too. That's one thing we couldnt withdraw from without taking a tax hit. And I'm scared to look. I woulda pulled out of them too if it was feasible.
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My portfolio is all RRSPs and TFSAs, but mine are self directed, l so I can buy and sell, without withdrawing the money from the plans. I avoided my company run supplementary retirement plans for that reason. I sold on the second day of the downswing, so I only lost some of my recent profits, but with things down 30%, with possibly more to go, the odds are that I can buy back in low, and make back those profits and more in 2020. I feel for the people who receive shares as part of their pension plan, as those shares have taken huge hits.
__________________
Only accurate guns are interesting.
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03-12-2020, 12:07 PM
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Join Date: Jul 2017
Posts: 4,099
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Have the news about Trudeau being potentially infected changed the minds and it picked up over 1,200 points in just a few minutes?
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03-12-2020, 12:08 PM
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Join Date: Jul 2017
Posts: 4,099
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It appears they really have no clue what they are doing and I don’t blame them.
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