Oil Crashing

[Deer Hunter]

Originally Posted by avb3

We agree... On the valuations and not to derail.

The issue is multi faceted, as complex issues usually are. Boom and bust resource economies, which we are, will always result in those that think they have it made and the boom is never ending, and getting a wake up call.

Our government, which for decades has preached diversity in our economy, still is largely dependent on revenue flows from the oil sector. One of the things that seems to exasperate diversity in that economy is the high wages that are paid during the boom cycle in the oil patch.

This correction, will hurt those who have chosen not to get an education during or after high school, but went out made the big money, bought the expensive toys, and thought they were on a ride that would never end. Unfortunately, it will also hurt some tradesman who are in their late twenties to mid thirties, and may not have the senority to whether way off. They got their education, and have not necessarily had enough time to build up reserves. Those I feel sorry for, as they are establishing their families and their lives. If they did not over extend themselves over the past five six or seven years, they will do fine. If, on the other hand, however they bought into the "necessity" to have the latest and greatest bought on credit, they too will be badly hurt. How sorry should we feel for them under those circumstances?

Who made this guy the resident expert on life lessons?

His knowledge of peoples finances, education, jobs, credit, amazes me. Obviously one of the most wealthy people in this province! When and where is his book available?

Never to have been young, taken risk, and now to come on here when things beyond peoples control are forcing people to possibly lose their jobs. Young people, grade 12 or whatever... Big trucks or small cars, doesn't matter what you drive when you tell your family that you're ****ed...

A real told you so kinda of guy I see. A real rubber of salt per se. Unreal.

Oil didn't build this province. Peoples hard work and motivation did. Degree's or not.

Anyways. Hang in there, oil cant stay here for long. And we're all in this together.

[Wild&Free]

Some do not have the support network or have family related issues and post secondary is a very hard choice to make when it means your family suffers for it. some unfortunately are in a position very young where providing or supporting those close to them are a priority while higher education is a dream.

too bad for them I guess. it's not like all corners of Canada have been crying for apprentices.

[avb3]

Originally Posted by Deer Hunter

Who made this guy the resident expert on life lessons?

His knowledge of peoples finances, education, jobs, credit, amazes me. Obviously one of the most wealthy people in this province! When and where is his book available?

Never to have been young, taken risk, and now to come on here when things beyond peoples control are forcing people to possibly lose their jobs. Young people, grade 12 or whatever... Big trucks or small cars, doesn't matter what you drive when you tell your family that you're ****ed...

A real told you so kinda of guy I see. A real rubber of salt per se. Unreal.

Oil didn't build this province. Peoples hard work and motivation did. Degree's or not.

Anyways. Hang in there, oil cant stay here for long. And we're all in this together.

Facts hurt, don't they.

Most of those here who lived through the NEP understand. We were there, we partied, spent, were the high rollers and smarter than those that came before.

And we learned.

I suspect very, very few who went through the tough times then will be hurt this time around.

But there are tons who thought the best thing to do is get no trade, get no higher education, but go work in the patch with not much more than a WHMIS certificate as soon as possible. Oh, and buy lots and lots of toys. On credit.

Reality is reality.

[dannypee]

Originally Posted by 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...

I did 22 years in the British Army finished my time at Suffield and chose to stay with my Canadian wife in Alberta I Pay my taxes and work as hard as I can on the oil patch for my family ,you need workers because your local boys don't want to work on the patch because it's a hard life ,don't you dare call me trash in fact most of my crew are ex army Brits we didn't take anyone's jobs they were vacant !!! Oh and by he way your welcome for the freedom that myself and my fellow trash provided you.This crash will hit us all hard but I will ride it out and work were ever I have to to feed my family.forvall those on here that will be hit I wish you good luck.

[leeaspell]

Originally Posted by dannypee

I did 22 years in the British Army finished my time at Suffield and chose to stay with my Canadian wife in Alberta I Pay my taxes and work as hard as I can on the oil patch for my family ,you need workers because your local boys don't want to work on the patch because it's a hard life ,don't you dare call me trash in fact most of my crew are ex army Brits we didn't take anyone's jobs they were vacant !!! Oh and by he way your welcome for the freedom that myself and my fellow trash provided you.This crash will hit us all hard but I will ride it out and work were ever I have to to feed my family.forvall those on here that will be hit I wish you good luck.

.

[Wild&Free]

Originally Posted by dannypee

I did 22 years in the British Army finished my time at Suffield and chose to stay with my Canadian wife in Alberta I Pay my taxes and work as hard as I can on the oil patch for my family ,you need workers because your local boys don't want to work on the patch because it's a hard life ,don't you dare call me trash in fact most of my crew are ex army Brits we didn't take anyone's jobs they were vacant !!! Oh and by he way your welcome for the freedom that myself and my fellow trash provided you.This crash will hit us all hard but I will ride it out and work were ever I have to to feed my family.forvall those on here that will be hit I wish you good luck.

All I can add is the young Alberta guys I work with aren't at the same level motivational or thinking capability as out of province guys we have hired. just my experience, I don't do the hiring, but do get a say in the first few months on what happens. out of province workers, again from my experience, appreciate what the oil patch offers them considering what they used to do, and get paid back home.

[hal53]

Originally Posted by Wild&Free

All I can add is the young Alberta guys I work with aren't at the same level motivational or thinking capability as out of province guys we have hired. just my experience, I don't do the hiring, but do get a say in the first few months on what happens. out of province workers, again from my experience, appreciate what the oil patch offers them considering what they used to do, and get paid back home.

^^^^^ this.........

[fish gunner]

Originally Posted by dannypee

I did 22 years in the British Army finished my time at Suffield and chose to stay with my Canadian wife in Alberta I Pay my taxes and work as hard as I can on the oil patch for my family ,you need workers because your local boys don't want to work on the patch because it's a hard life ,don't you dare call me trash in fact most of my crew are ex army Brits we didn't take anyone's jobs they were vacant !!! Oh and by he way your welcome for the freedom that myself and my fellow trash provided you.This crash will hit us all hard but I will ride it out and work were ever I have to to feed my family.forvall those on here that will be hit I wish you good luck.

Deep breaths mate its the interweb http://www.youtube.com/watch?v=UTBsm...e_gdata_player . Dont get too out of joint. Every one is an outsider (like everyone else not native ) . Too many here will just poke buttons. Try not to let it get personal . Slangé.

[Deer Hunter]

Originally Posted by avb3

Facts hurt, don't they.

Most of those here who lived through the NEP understand. We were there, we partied, spent, were the high rollers and smarter than those that came before.

And we learned.

I suspect very, very few who went through the tough times then will be hurt this time around.

But there are tons who thought the best thing to do is get no trade, get no higher education, but go work in the patch with not much more than a WHMIS certificate as soon as possible. Oh, and buy lots and lots of toys. On credit.

Reality is reality.

^^^
Some more reciting of the past. And stating it like it was a big unknown, trying to impress... when the **** is hitting the fan.

Now we know where the AFGA got it from. Yeah, the truth hurts.

[redcoat01]

Let's hope Suncor and Syncrude can now catch up in the Land Reclamation projects that they are several years behind on . Pump as much as you want but let's be responsible and remain good stewards of the land.

[Buckhead]

Originally Posted by redcoat01

Let's hope Suncor and Syncrude can now catch up in the Land Reclamation projects that they are several years behind on . Pump as much as you want but let's be responsible and remain good stewards of the land.

I doubt if that is going to be the priority until their revenues increase.

[Buckhead]

Oil prices go up and oild prices go down - this is nothing new.

Although, I suspect we are in a bit better position this time around.

One can't really turn off the tap at an oilsands mine. Shutting the place down means about 2 years to get it up and running again.

[avb3]

Originally Posted by Wild&Free

All I can add is the young Alberta guys I work with aren't at the same level motivational or thinking capability as out of province guys we have hired. just my experience, I don't do the hiring, but do get a say in the first few months on what happens. out of province workers, again from my experience, appreciate what the oil patch offers them considering what they used to do, and get paid back home.

^^^^^^^^^^
These are the guys I'm taking about.

[avb3]

Originally Posted by Deer Hunter

^^^
Some more reciting of the past. And stating it like it was a big unknown, trying to impress... when the **** is hitting the fan.

Now we know where the AFGA got it from. Yeah, the truth hurts.

Discuss issues, not personality. It's more credible.

[dannypee]

Originally Posted by fish gunner

Deep breaths mate its the interweb http://www.youtube.com/watch?v=UTBsm...e_gdata_player . Dont get too out of joint. Every one is an outsider (like everyone else not native ) . Too many here will just poke buttons. Try not to let it get personal . Slangé.

I'm breathing mate thank you for the direction though I'll calm my arse down drill another hole and catch some trout instead of getting bent out of shape !!

[Deer Hunter]

Originally Posted by avb3

^^^^^^^^^^
These are the guys I'm taking about.

Funny he didn't mention how much credit they had or how levered their lives were, or their toys... But its easier for you to generalize your "told you so" attitude with an example. Nice.

Would you ever consider training these "young Alberta" guys? Not everyone was born with initiative or business sense like you were. The drillers in this province are great models of training young guys with no experience, giving them a chance and building their careers.

Discuss issues, not personality. It's more credible.

Your issues deal with judging hard working people with good jobs. During a period of obvious hardship.

I couldn't care less about your personality. You don't strike me as an overly positive person.

[fish gunner]

Originally Posted by dannypee

I'm breathing mate thank you for the direction though I'll calm my arse down drill another hole and catch some trout instead of getting bent out of shape !!

Thats the spirit . Just think the bhoys are stagging on in cattrick , harrogate , & Windsor and all other points ...you sitting over a hole in the ice and loving it

[Wild&Free]

Originally Posted by Deer Hunter

Would you ever consider training these "young Alberta" guys? Not everyone was born with initiative or business sense like you were. The drillers in this province are great models of training young guys with no experience, giving them a chance and building their careers.

I do train them. One of the things I constantly try to drill into them is follow the lines when you have a problem.

came into work one morning with a 9 hours downtime report. 9 hours of downtime due to a valve on a tank closed.

there's many other instances, such as not cleaning up, and failing to file reports and general laziness all around.

there's training, then there's having to lead them around by the hand after a year on the job.

I'm in the same position they're supposed to fill so there's not much I can do about it, except carry the weight.

Again, this is just my experience, I'm not assuming everyone is like that. But I experienced similar attitudes and work ethics in the young guys at the mills in BC.

You don't know how good you have it until it's gone.

[ESOXangler]

Originally Posted by Wild&Free

All I can add is the young Alberta guys I work with aren't at the same level motivational or thinking capability as out of province guys we have hired. just my experience, I don't do the hiring, but do get a say in the first few months on what happens. out of province workers, again from my experience, appreciate what the oil patch offers them considering what they used to do, and get paid back home.

I bet you most of those alberta boys dads worked in the patch. Dads were away too much working so mom raised them soft. I see it with my family too. All kinds of opportunity but no they would rather play Xbox and guitar in a band. But those kids are all over, and it's been like that since we started cooking meat.

[ESOXangler]

Originally Posted by PGH

He's not insinuating that. He's stating a fact that educated, and higher educated people, have a better chance of finding employment compared to those without it or who lack education/designations. There are many industries that someone with business degree can work in for example when compared to industry specific trades. The first to go are those who are disposable - which are mostly those who work for wages in labor intensive industries.

Well I hope that works for the 150 professionals shell is laying off at Albian. The hourly boys are safe for now. Heard they're scaling back on white collars.

[Mackinaw]

Originally Posted by avb3

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?

I'm sure you did not .unfortunately I can not say the same your attempt at using a euphemism failed drastically.

Mack

[Wild&Free]

Originally Posted by ESOXangler

I bet you most of those alberta boys dads worked in the patch. Dads were away too much working so mom raised them soft. I see it with my family too. All kinds of opportunity but no they would rather play Xbox and guitar in a band. But those kids are all over, and it's been like that since we started cooking meat.

mmm, steak.

[Mackinaw]

Originally Posted by avb3

So what kind of an investment is it when real estate crashes? As it has and will again.

Real estate never really crashes only people that invest in real estate badly do.I have delt in property for years the price of oil dose not effects me at all .....and people like you increase my wealth every year.
Mack

[greylynx]

Buckle up gentleman, 2015 is going to be a very rough year for you economically unless you are a civil servant.

Note how your taxes will be increasing to feed the civil servants.

Oh well, No job means still means those taxes still have to be paid to feed those civil servants. I have heard Bankruptcy is not so bad.

Gotta love that Alberta Advantage.

And why can't we keep our transfer payments during our Rodeo?

Hello Mister Harper.

[avb3]

Originally Posted by Mackinaw

Real estate never really crashes only people that invest in real estate badly do.I have delt in property for years the price of oil dose not effects me at all .....and people like you increase my wealth every year.
Mack

Really?

Tell that to the millions, with a capital M, that lost there homes in the USA in the past five years.

Take a look at the Tampa, Phoenix, and Las Vegas areas just as an example and take a look how much it had dropped on the Case-Shiller index. Sure there's been some rebound, and I have some condos that have benefited from that in one of those areas, but prices now are still significantly less than they were five years ago.

[From The Hip]

The price of oil has dropped....it also dropped in 2009 and leading up to 2009 the price of oil was through the roof due to speculation.

This is not 1982 when the NEP hit and ALL of the big players shut off the taps with regards to "exploration" or "capital expenditures" and just pumped oil out of the ground from existing wells.

Canadian Oil Sands recently put forth it's 2015 budget and it reduced capital costs and it also reduced it's quarterly dividend....but the company it still paying a dividend.

Crescent Point Energy today announced that it would reduce it's 2015 budget by 30% for exploration.....but the company is still spending money on exploration.

Lots of fearmongering on this thread as well as a lot of negative sentiments from a lot of strange tangeants.

Suck it up buttercups...we are all in the same boat....last thing we need is people who would stick a boot to the guy that is drowning.

FTH

[roper1]

FTH just remember those companies that have cut their capital budgets to a projected level. If oil continues to drop or even stay this level, they will not spend of all the money budgeted. Plain & simple. Not being negative or dramatic, just what any businessman in any industry does. As in other busts, it takes a while to change our spending habits. Now is a really good time to practice fiscal restraint. IMO.

[Sleddawg]

Originally Posted by Wild&Free

mmm, steak.

Wish I could afford steak. Boat, sled, quad, and my $85,000 jacked up ford must come first

[purgatory.sv]

Originally Posted by avb3

Really?

Tell that to the millions, with a capital M, that lost there homes in the USA in the past five years.

Take a look at the Tampa, Phoenix, and Las Vegas areas just as an example and take a look how much it had dropped on the Case-Shiller index. Sure there's been some rebound, and I have some condos that have benefited from that in one of those areas, but prices now are still significantly less than they were five years ago.

Long term you will still move forward?

[Wild&Free]

Originally Posted by greylynx

Buckle up gentleman, 2015 is going to be a very rough year for you economically unless you are a civil servant.

Note how your taxes will be increasing to feed the civil servants.

Oh well, No job means still means those taxes still have to be paid to feed those civil servants. I have heard Bankruptcy is not so bad.

Gotta love that Alberta Advantage.

And why can't we keep our transfer payments during our Rodeo?

Hello Mister Harper.

He made changes in '07