Oil Crashing

[Mackinaw]

Originally Posted by avb3

If you think everyone who was riding the high horse during the boom was responsible, I can understand your perspective.

There are more than one person on here who made great money, has little debt, and paid assets to show for it. They will be fine.

There are also more than a few who thought this rodeo ride would never end. Exactly why should we feel sorry for them? Because one can't fix stupid? Those of us who have seen this more than once knew exactly what those wannabes would be like.

We also could see the hole they were digging for themselves, but I can guarantee you they knew better, and had an "I'm owed this" attitude who would change jobs for .50 more an hour at a drop off the hat. Bet many don't have enough to cover their minimum payments for two months in a row.

Those will be flushed out, some of them will learn, pick themselves up, and never make those mistakes again. Others will moan about how unfair life is.

After reading your posts I must agree "you can't fix stupid"


Mack

[martinnordegg]

WTI now under 49 bucks. See what happens when the bell rings this morning.

[avb3]

Originally Posted by Mackinaw

After reading your posts I must agree "you can't fix stupid"


Mack

Reality sucks, doesn't it.

[Mackinaw]

Originally Posted by avb3

Reality sucks, doesn't it.

In your case I'm sure it dose. ......

Mack

[avb3]

Originally Posted by Mackinaw

In your case I'm sure it dose. ......

Mack

I had no doubt of your meaning the first time.

Sometimes a choir that is singing off key needs to be told that they are. Of course whether that choir accepts the observation is a while different story. But if all that choir does is keep patting itself on the back, it won't improve, will it?

[Sundancefisher]

Originally Posted by Deo101

I've always wondered why we didn't refine here. One thought I had was ambient temp and what kind of cost difference you're looking at? Would the freezing temps for 6 months equal the cost/energy to pump it somewhere warmer?

I'm leaning to more political than cost but I haven't ran the numbers.

The main reason we don't refine here is the high cost of regulatory hurdles, timing and NIMBY. So many people demand lower oil price..yet don't want a plant in their back yard. So where do you built it?

[LCCFisherman]

I'm sure looking forward to the "trash" thats come up into AB to go back to wherever they came from.. lets clean up this province a bit shall we?

[waterhawk]

Originally Posted by LCCFisherman

I'm sure looking forward to the "trash" thats come up into AB to go back to wherever they came from.. lets clean up this province a bit shall we?

I don't understand this post. Who do you define as "trash".

[Deer Hunter]

Originally Posted by waterhawk

I don't understand this post. Who do you define as "trash".

He means possibly the young working class guys trying to make a living, paying taxes so that he can live the lifestyle he has become accustomed to.

[connexion123]

WTI showing 49.24 close yesterday.

Pretty sure the TSX is going to bomb today.

I say sub 40$/bbl by end of January.

[Deo101]

Originally Posted by Sundancefisher

The main reason we don't refine here is the high cost of regulatory hurdles, timing and NIMBY. So many people demand lower oil price..yet don't want a plant in their back yard. So where do you built it?

Hard to say its a NIMBY thing in Alberta no? I'd say most of us live very close to some kind of oil and gas operation. We have 25% sour wells beside cities. I don't follow the logic of people if they're okay with upstream operations but raise their nose at a refinery.

Build it right at the @ss of Ft. Mac.

[1000yards]

I work in the safety administration side of things for a company that provides safety watch and emergency services. The mood has shifted in alot of the field guys, even thou we continue to be busy, it is already starting to reflect in some of the attitudes of consultants being a touch pickier on what is all on the tickets apparently.
When I see the prices at the pump getting lower each day, to now being lower than when I started driving, well it is a bit scary.
I know I have job security, and am also in the middle of an educational course that will open alot of doors for me that I started at the end of last summer.
We have seen it go low before, but what is more damaging is the over reactions, spectating and the doomsday say-ers that are vowing to not spend a dime.

As a Province, we have gained and grown, and it sucks to see such a community as our own outdoors men and women already divided. No one, gets thru it all fully unscathed.

What you save on gas now, put towards some extra canned goods, and add some to the food bank.

Oh and please Stop calling our newer neighbors or newer friends trash, or foreigners. They had the courage to leave their whole life behind, and are working plenty hard to pay for their own way. I was lucky to be born and raised here, but when the pot shots start getting taken at those from out east or anywhere exotic, its just pathetic.

[hover]

Originally Posted by LCCFisherman

I'm sure looking forward to the "trash" thats come up into AB to go back to wherever they came from.. lets clean up this province a bit shall we?

Sounds like a nice welcome to Alberta for newcomers who come here to live, work or retire. If those are the people you are referring to, then I would hope for people like you to be on the outgoing flight. If your talking about freeloaders and criminals, then I agree with you.

[Quinn]

Very good post above. The **** flingers on here are pathetic.

[connexion123]

48.21 now WTI

[yoteblaster]

Originally Posted by 1000yards

I work in the safety administration side of things for a company that provides safety watch and emergency services. The mood has shifted in alot of the field guys, even thou we continue to be busy, it is already starting to reflect in some of the attitudes of consultants being a touch pickier on what is all on the tickets apparently.
When I see the prices at the pump getting lower each day, to now being lower than when I started driving, well it is a bit scary.
I know I have job security, and am also in the middle of an educational course that will open alot of doors for me that I started at the end of last summer.
We have seen it go low before, but what is more damaging is the over reactions, spectating and the doomsday say-ers that are vowing to not spend a dime.

As a Province, we have gained and grown, and it sucks to see such a community as our own outdoors men and women already divided. No one, gets thru it all fully unscathed.

What you save on gas now, put towards some extra canned goods, and add some to the food bank.

Oh and please Stop calling our newer neighbors or newer friends trash, or foreigners. They had the courage to leave their whole life behind, and are working plenty hard to pay for their own way. I was lucky to be born and raised here, but when the pot shots start getting taken at those from out east or anywhere exotic, its just pathetic.

Good post, thanks for a breath of fresh air in this thread and showing some compassion for others!

[connexion123]

Originally Posted by 1000yards

I work in the safety administration side of things for a company that provides safety watch and emergency services. The mood has shifted in alot of the field guys, even thou we continue to be busy, it is already starting to reflect in some of the attitudes of consultants being a touch pickier on what is all on the tickets apparently.
When I see the prices at the pump getting lower each day, to now being lower than when I started driving, well it is a bit scary.
I know I have job security, and am also in the middle of an educational course that will open alot of doors for me that I started at the end of last summer.
We have seen it go low before, but what is more damaging is the over reactions, spectating and the doomsday say-ers that are vowing to not spend a dime.

As a Province, we have gained and grown, and it sucks to see such a community as our own outdoors men and women already divided. No one, gets thru it all fully unscathed.

What you save on gas now, put towards some extra canned goods, and add some to the food bank.

Oh and please Stop calling our newer neighbors or newer friends trash, or foreigners. They had the courage to leave their whole life behind, and are working plenty hard to pay for their own way. I was lucky to be born and raised here, but when the pot shots start getting taken at those from out east or anywhere exotic, its just pathetic.

I agree with most of you post.

As a province we haven't gained and grown, we've been abused and robbed blind by the pc's.

[79ford]

Heavy oil went under 30$ and wti is 48$. I bet suncor, syncrude, cnrl, shell and imperial are glad they have upgraders and refineries.

[AbAngler]

This has happened before and it will happen again. We've been around long enough to know that things will bounce back. The sky is not falling. You just have to be good with the money you have, and don't go into too much debt. If you are a valued asset in your field, you will always have work.

Having said that, we are building a house and I just bought a new car. I'm screwed.

[5Lgreenback]

Gotta love the posts about "getting rid of the dead weight."

Thats so far from the reality at lay off time in most industries.

[220swifty]

Originally Posted by LCCFisherman

I'm sure looking forward to the "trash" thats come up into AB to go back to wherever they came from.. lets clean up this province a bit shall we?

I'm going to take a different direction in my assumption of who you are referring to. I will assume you mean the addicts and criminals who have come here for easy pickins. If you think a crash will send them home, ask Detroit how that worked out.

[jack88]

I think what most of you guys should be hoping for is a change in attitude from the people whose head and cockiness level is as big as their debt load.

The "trash" we have here is drug dealers and free loaders.

[Macdrizzle]

Originally Posted by Bergerboy

I have often thought (and I may be wrong) that we should be exporting the same amount of oil as we always have it should just be in a different form. Instead of a 36" pipeline of crude, it should be in 1 litre bottles marked 10w-30 etc.

Why do you think we are trying to approve XL? Convert the Transcanada pipeline and build Gateway? With how much crude we are outputting, we simply don't have the infrastructure and facilities to upgrade.

Houston has the upgraders already when the US was importing Venezuelan crude. Such a shame the US keeps rejecting Keystone.

If it was truly more profitable to build refineries domestically instead of piping it out, it would have been done already. Companies aren't stupid.

[dmcbride]

Originally Posted by justsomeguy

I'm just guessing here but what I suspect he means is Canada has historically derived it's wealth from exploiting our natural resources. Throughout our history there has always been a place where your blue collar, work with your hands, person has been drawn too. A place where a day of honest hard work could put a roof over your head, a pickup in the driveway and a good middle class life.

Through the decades with the ups and down of various resource industries that place has varied from the woods of BC, the mines of northern ON/QC, oceans off each coast to the auto industry of southern ON. For the last 10-15 years that place has been Alberta, with Fort McMurray as the eye of the storm. I lived there for a decade and we use to say that it was the last place in Canada a blue collar kid could possibly start right out of high school with a company and spend their entire working life there, retiring from a stable employer and not having had to worry about the constant threat of layoffs. Places like that use to exist all over the country, but sadly most if not all of them are gone now. We've exported most of our blue collar work that is not tied directly to resource extraction to the third world in order to be able to buy things cheaper at Wally World.

Let's be honest, if things get as bad as some say the blue collar worker is going to have very few options for stable employment that offers the opportunity to have that good middle class life that so many of us are presently enjoying.

Damn, gotta stop drinking the good scotch, I'm getting all philosophical.

Thanks, Kind of what I thought he was trying to say.

To me the statement I bolded couldn't be farther from the truth.(IMO) Oil has always gone up and down in cycles and should never be considered a job that one can start right out of school and have steady work and retire at that same job unless one is prepared for the ups and downs.

I learned my lesson when I worked building tanks for the oil field. We had contracts for 10 years and no end of work in site. Fast forward a couple years and the price of oil dropped and we no longer had any work. This has happened many times before. I am now in the telecommunications industry and yes it will be effected by the price of oil, but I will still have a job. Radio, Cell phones and other wireless communication will still be needed and maintained. We might have to get rid of our temporary foreign workers is about as bad as I can see it getting for us.
When I stated Alberta needed a reality check I should have clarified. There is to many people who have no work ethic and are lazy and will jump at the chance to work somewhere else for a $0.25 cent raise. It is hard to find good employee's if one isn't paying over-inflated oil field wages and even then one is likely to get an employee like stated above. Most guy's who have a strong work ethic and work hard will be able to find a job. Not saying that they will make the over-inflated oil field wage, but they will be able to work. There is lot's of companies who aren't directly related to the oil field who can't find skilled labor and will jump at the chance to hire someone who has a good work ethic.

Again I don't wish anyone ill will, but Oil goes in cycles.

[rugatika]

Originally Posted by dmcbride

Again I don't wish anyone ill will, but Oil goes in cycles.

Oil goes in cars and trucks too.

[Macdrizzle]

Conocophillips just began first oil in Eldfisk which is a large offshore operation up in Norway. Prices don't seem to be affecting the large companies very much.

[Ken07AOVette]

Originally Posted by 220swifty

I'm going to take a different direction in my assumption of who you are referring to. I will assume you mean the addicts and criminals who have come here for easy pickins.

Originally Posted by jack88

I think what most of you guys should be hoping for is a change in attitude from the people whose head and cockiness level is as big as their debt load.

The "trash" we have here is drug dealers and free loaders.

this

[whitetail Junkie]

The majority of Canadians are loving the price at the pumps right now and the price relief is a huge savings for the low income families.

I remember when oil reached $50 a barrel and it was a big deal because that was a high price.Im not to concerned right now along with most Canadians with oil and the economy which is fine.

[LCCFisherman]

Yes boys thats exactly who I'm meaning.. High oil prices these types seem to come out of every province and flood our province because we need workers.. you see it, I see it, we all see it.. lets hope they leave and go back home prior to deciding on crime...

[Bergerboy]

Originally Posted by Macdrizzle

Why do you think we are trying to approve XL? Convert the Transcanada pipeline and build Gateway? With how much crude we are outputting, we simply don't have the infrastructure and facilities to upgrade.

Houston has the upgraders already when the US was importing Venezuelan crude. Such a shame the US keeps rejecting Keystone.

If it was truly more profitable to build refineries domestically instead of piping it out, it would have been done already. Companies aren't stupid.

I think you missed my point. I feel we should not export crude. It should all be upgraded and refined here. Its more profitable in the short run to export it is correct. In the long run exporting all of the resources in raw form is a mistake. Imagine all of the spinoff work and stability if we built all of the upgrading and refining infrastructure here. It would be a long term solution for the country. The problem is that everyone wants to rip and tear so they can fill their own pockets selfishly without leaving anything for the future. This is why trades peole make between $40-$50 an hour and the average house is $450,000, and trucks are 50-60K. Wage goes up and the cost of living is right beside it so there never is a winner. The funny thing is that if things were back to the mid 90's when trades made $20-$25 an hour, trucks were 30K and a good house was $200,000 you would pay less taxes and insurance and actually live a better lifestyle.

This could all be true or maybe my mom shook me too much when I cried...who knows.