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Old 12-06-2014, 11:18 AM
 
Location: Toronto
12,581 posts, read 10,444,139 times
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Quote:
Originally Posted by JohnSoCal View Post
It is not odd at all. He is not bashing Alberta but simply stating what usually happens at any boom town where there are a lot of single guys making a lot of money. It could be anywhere in the world.
Ok - well heck if gambling, alocholism, prostitution etc helps the guys/gals who make a place to boom than bring em on I say!
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Old 12-06-2014, 11:19 AM
 
Location: Toronto
12,581 posts, read 10,444,139 times
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Quote:
Originally Posted by JohnSoCal View Post
The Alberta boom economy could be a bust pretty soon if the price of oil keeps falling.
I'm not sure how long OPEC will be able to maintain this cheap oil...Its not just Canada the CAD oil industry they seemingly want to squash - its the U.S as well.. Any ideas?
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Old 12-06-2014, 01:59 PM
 
Location: Murrieta California
2,884 posts, read 3,489,207 times
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Quote:
Originally Posted by fusion2 View Post
I'm not sure how long OPEC will be able to maintain this cheap oil...Its not just Canada the CAD oil industry they seemingly want to squash - its the U.S as well.. Any ideas?
Yes, they want to kill frakking. How long it will last is hard to say. Saudia Arabia can let the price drop a lot more because their cost for extraction of oil is much lower than either Alberta or shale oil frakking. However there are pther OPEC members like Venezuela that are also hurting big time from the lower price, not to mention Russia.

Saudia Arabia's big worry is losing market share as the US and others ramp up production.
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Old 12-06-2014, 03:56 PM
 
Location: Toronto
12,581 posts, read 10,444,139 times
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Quote:
Originally Posted by JohnSoCal View Post
Yes, they want to kill frakking. How long it will last is hard to say. Saudia Arabia can let the price drop a lot more because their cost for extraction of oil is much lower than either Alberta or shale oil frakking. However there are pther OPEC members like Venezuela that are also hurting big time from the lower price, not to mention Russia.

Saudia Arabia's big worry is losing market share as the US and others ramp up production.
I think the Saudi's may end up cutting off their nose to spite their face!
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Old 12-06-2014, 10:42 PM
 
Location: Murrieta California
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Quote:
Originally Posted by fusion2 View Post
I think the Saudi's may end up cutting off their nose to spite their face!
Time will tell.
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Old 12-07-2014, 01:35 AM
 
Location: Canada
4,672 posts, read 8,103,654 times
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All that said, this might slow or stop the boom in Alberta, but it's still in pretty great shape economically and has the oil operations that have already been invested in, natural gas, agriculture, and tons of head offices going for it along with low taxes and low debt. They'll still be a 'have' province for the discernible future and be fine economically. I don't really see a huge risk of 'bust' with all of that still going for them.
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Old 12-07-2014, 03:33 PM
 
Location: Kalamalka Lake, B.C.
2,975 posts, read 3,766,455 times
Reputation: 3789
Default Thats' already happening

Quote:
Originally Posted by JohnSoCal View Post
The Alberta boom economy could be a bust pretty soon if the price of oil keeps falling.
Manuf. job in Calgary are already drying up. And remember that even the ruling Conservative party estimates that the total number of jobs in the "patch" are between 200 and 300 thousand. That's a small town in California.
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Old 12-07-2014, 05:55 PM
 
Location: Murrieta California
2,884 posts, read 3,489,207 times
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My niece works for an energy company in Calgary and she says that they are talking about layoffs now.

Oil boom and bust is not very rare. Alberta has gone through it before and so has Houston Texas.
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Old 01-23-2015, 03:15 PM
 
Location: Back & Forth
210 posts, read 618,967 times
Reputation: 401
Energy has and will always be bust or boom. Anyone who has been in the industry has seen this many times over. So when it's good times, save your money for when it's bad. The timing may surprise people, but this is the nature of the energy economy. It will go back up again, as to when, who knows?
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Old 01-23-2015, 11:50 PM
 
873 posts, read 757,542 times
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This will no longer be true as the oil prices keep falling down. We'll all be moving back to Ontario.
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