How the new ndp govt is downplaying the oilsands.....

[rsaint]

not creative at all, it is 100% factual.

if last year I paid $100,000 in tax's with my business and this year with the same profit I have to pay $120,000 in tax's that is an increase of $20,000 of what I paid last year which is a 20% out of pocket cost to my business. Simple black and white facts.

Get a better accountant

 

[Keith Brown]

A Band Aid sure feels good when your bleeding. Physically and mentally it would be nice to know our government is with us not against us.

You make some good points but you don't count too good, they have only been in power for 3 months. Also the economy won't be back on track until prices recover; anything prior to that is just a band aid.

 

[X-Treme]

Coulda, shoulda, woulda! Who would everyone vote? The NDP aren't doing anything to fix the province right this minute, sure. The conservatives sure as fawk aren't doing anything to fix us, or the rest of the country. Green just wanna legalize marijuana (I think this is a great idea btw, but it sure isn't gonna fix anything). The Wild Rose? No fawkin way was their leader ready for the reigns on a horse, let alone the reigns on a province of 4.5 million.

Now, for you people that say "the Wild Rose sure would have been a LOT better option for our province", how in the great gatsby do you have ANY fawkin clue about that? How do we know that any other party would be doing anything else to fix the province? Bottom line is we DON'T! Politicians (ALL of them) just wanna fill their own pockets in the end. So, let's not blame the NDP UNTIL they screw up, let's not say that anyone else would have been better. Let's just blame the politicians in general, cause there is no perfect answer for our situation. We DAMN SURE know that we needed a change from the PC's.

Geeeeez. Ric sure did start something, before he quickly disappeared from this thread.

 

[Summitric]

I sure did, and this is a good thread for venting... Interesting opinions from all sides... I sure as heck did not vote ndp, nore will I ever vote for the ex-communist party..... Jus sayin


Sent from my iPad using Tapatalk

 

[SLEDBUNNYRACING]

Tapatalk....well I'm happy with you now....thanks for the fix.

 

[Bnorth]

Good points....so if this "dirty industry" is affecting not only Alberta but the entire country, shouldn't our govt. be spending a great part of their time on it. I am not blaming the NDP for the crises...I am blaming them for not doing anything...not supporting one of our main industries and then kicking them while they are down.....

Another interesting thing coming out of the federal ND's......apparently they are feverishly trying to clean up their past history of "oil bashing" tweets and public comments....wonder why???

Esra Levant is wondering too and below is a post from his website.....


Dozens and dozens of comments on social media sites like Twitter, all bashing oil and gas and Alberta.

Why would they delete them? We know they haven’t changed their mind. They just want to keep the depth of their anti-oil hatred hidden from voters until they’re elected. Exactly like Alberta’s anti-oilsands NDP did.

What’s even more infuriating is that these deleted tweets weren’t discovered by mainstream media journalists at the CBC or the Globe and Mail. They were dug up by amateur citizen journalists, doing the job the left-wing media refuses to do.
Well, we’ve saved copies of these deleted tweets, and we’ve made a whole website dedicated to them: NDP Deleted Tweets - The Rebel.

Part of the reason this is having such an effect on the whole country is because our Federal Conservatives put so much emphasis on our oil and gas economy. They effectively put all our eggs in one basket and then couldn't hold on to the handle when the OPEC winds blew on it. Things sure looked good when prices were high but now we're paying the price for the lack of a contingency plan (lowering interest rates to increase borrowing and artificially increase spending while driving household debt loads to historic highs sure as fawk isn't a contingency plan) and an incompetent Finance Minister.

 

[eclipse1966]

100% agree with you on this one.

Part of the reason this is having such an effect on the whole country is because our Federal Conservatives put so much emphasis on our oil and gas economy. They effectively put all our eggs in one basket and then couldn't hold on to the handle when the OPEC winds blew on it. Things sure looked good when prices were high but now we're paying the price for the lack of a contingency plan (lowering interest rates to increase borrowing and artificially increase spending while driving household debt loads to historic highs sure as fawk isn't a contingency plan) and an incompetent Finance Minister.

 

[Bogger]

Part of the reason this is having such an effect on the whole country is because our Federal Conservatives put so much emphasis on our oil and gas economy. They effectively put all our eggs in one basket and then couldn't hold on to the handle when the OPEC winds blew on it. Things sure looked good when prices were high but now we're paying the price for the lack of a contingency plan (lowering interest rates to increase borrowing and artificially increase spending while driving household debt loads to historic highs sure as fawk isn't a contingency plan) and an incompetent Finance Minister.

Sure going to make renewing the mortgage nice though..... 1.84% to 2.34% depending on terms.

This is not an Alberta thing or even a Canadian thing, markets around the world are in turmoil and no matter who is leading (I use that term loosely) our government little can/could be done in the short term. That said the corporate tax was untimely, an increase of 2 percentage points or 20% has a much bigger impact than one may think. Many businesses operate on a 7-8% profit margin in good times and over the past year have trimmed that to 3-4% due to competitive markets and efforts to keep employees working so profits are already deeply suppressed. These "Big Business" employers are first and foremost responsible to their shareholders so by tacking a tax increase onto already suppressed profits or in many cases increased losses is a poorly timed decision.

Everyone thinks that CNRL, Syncrude, Imperial, Nexen etc... are the only "Big Business" players in the energy sector. Look out your window, most Alberta based/owned service providers will be negatively impacted by knee jerk monetary policy. I don't think the tax increase will act as a plague and destroy most but again in my opinion the timing is wrong. Run a short term deficit and make up ground where you can until the dust settles. My family was hit as hard as anyone could be with the changes introduced in the most recent PC budget, do I want to pay more? No. Can I afford to pay more? Yes. Will the extra taxes/fees cripple me? No. Do I have a better solution? No. So be it.

I believe the $15/hr min wage will be much more destructive than the corporate tax increase.
-Full time staff will be cut to increase part time staff and save on the cost of benefits.
-Staffing levels in general will decrease.
-Unemployment will increase as will the cost of living and the weekly EI payments to those collecting.
-Cost of goods and services will increase to offset increased operational costs driving up inflation.

There is however opportunity in any market, for someone who has the capital or access to equity there have not been as many stocks trading at or near 52 week lows (for many 5 year lows) since 2008. Many energy stocks are trading at 1/4 their 52 week highs, a few may go the way of the dodo but most will slowly rebound and eventually exceed previous highs. If I had to guess I'd suspect Calfrac isn't about to pull the pin. they opened today at $3.27 and quickly fell to $3.00 as of now they are back up to $4.09..... (day traders picking up a 25% profit). Quite sure bottom has not been found yet but in the bigger picture from August 2010 to August 2014 they hovered in the $13-$20 range.

Interesting times indeed

 

[Skegmeister]

For the record, tar is what you can create from cooking tree bark and sap.
Oilsands or Bitumen is a heavy oil that is found in the geological formation.
A relative comparison to the discussion would be like calling all 'skidoo' engines two strokes.
There are some superficial similarities (black and sticky), but to the learned person, there are enough significant differences that sound ridiculous when ignored.

 

[Summitric]

For the record, tar is what you can create from cooking tree bark and sap.
Oilsands or Bitumen is a heavy oil that is found in the geological formation.
A relative comparison to the discussion would be like calling all 'skidoo' engines two strokes.
There are some superficial similarities (black and sticky), but to the learned person, there are enough significant differences that sound ridiculous when ignored.

When I was a kid and lived in fort mcmurray, we often rafted on the creeks and you could see oilsands dripping from the creek/river banks. sometimes when motorbiking would hit "oil" puddles on the trails. sticky stuff for sure....

 

[rzrgade]

Sure going to make renewing the mortgage nice though..... 1.84% to 2.34% depending on terms.

This is not an Alberta thing or even a Canadian thing, markets around the world are in turmoil and no matter who is leading (I use that term loosely) our government little can/could be done in the short term. That said the corporate tax was untimely, an increase of 2 percentage points or 20% has a much bigger impact than one may think. Many businesses operate on a 7-8% profit margin in good times and over the past year have trimmed that to 3-4% due to competitive markets and efforts to keep employees working so profits are already deeply suppressed. These "Big Business" employers are first and foremost responsible to their shareholders so by tacking a tax increase onto already suppressed profits or in many cases increased losses is a poorly timed decision.

Everyone thinks that CNRL, Syncrude, Imperial, Nexen etc... are the only "Big Business" players in the energy sector. Look out your window, most Alberta based/owned service providers will be negatively impacted by knee jerk monetary policy. I don't think the tax increase will act as a plague and destroy most but again in my opinion the timing is wrong. Run a short term deficit and make up ground where you can until the dust settles. My family was hit as hard as anyone could be with the changes introduced in the most recent PC budget, do I want to pay more? No. Can I afford to pay more? Yes. Will the extra taxes/fees cripple me? No. Do I have a better solution? No. So be it.

I believe the $15/hr min wage will be much more destructive than the corporate tax increase.
-Full time staff will be cut to increase part time staff and save on the cost of benefits.
-Staffing levels in general will decrease.
-Unemployment will increase as will the cost of living and the weekly EI payments to those collecting.
-Cost of goods and services will increase to offset increased operational costs driving up inflation.

There is however opportunity in any market, for someone who has the capital or access to equity there have not been as many stocks trading at or near 52 week lows (for many 5 year lows) since 2008. Many energy stocks are trading at 1/4 their 52 week highs, a few may go the way of the dodo but most will slowly rebound and eventually exceed previous highs. If I had to guess I'd suspect Calfrac isn't about to pull the pin. they opened today at $3.27 and quickly fell to $3.00 as of now they are back up to $4.09..... (day traders picking up a 25% profit). Quite sure bottom has not been found yet but in the bigger picture from August 2010 to August 2014 they hovered in the $13-$20 range.

Interesting times indeed

Best post in a while....!
lets slow it down for you NDP guys ..... Typing real slow now...

lets us pretend a fellow needs/ wants / deserves a raise....when should he ask for it for the desired results ?

A: the company is making enormous profits, and the long term future looks dam good.
B: the company is looking at the worst financial outlook for their product in years.....long term looks bleak to say the least...layoffs are abundant / new jobs openings are very scarce!

in layman's terms Rachel chose "B".......

 

[storm1972]

I can't say much as to the government as far as "albertas" economy goes because I have never voted in my life, I truly believe they are all crooked bastards in their own ways, none will be perfect. Our oilfield is kinda dead not because of government, it's a global issue supply / demand , unfortunately most of our economy relies on it in Alberta. Wonder what would happen if zero people voted


Sent from my iPhone using Tapatalk

 

[catalac]

Best post in a while....!
lets slow it down for you NDP guys ..... Typing real slow now...

lets us pretend a fellow needs/ wants / deserves a raise....when should he ask for it for the desired results ?

A: the company is making enormous profits, and the long term future looks dam good.
B: the company is looking at the worst financial outlook for their product in years.....long term looks bleak to say the least...layoffs are abundant / new jobs openings are very scarce!

in layman's terms Rachel chose "B".......

Buddy said young guy walked in his office last week asking for a raise, oil field service, his reply was "actually I was trying to figure if we were going to have to lay you off, so sorry no".

Generation Y...

 

[scrfce]

There is however opportunity in any market, for someone who has the capital or access to equity there have not been as many stocks trading at or near 52 week lows (for many 5 year lows) since 2008. Many energy stocks are trading at 1/4 their 52 week highs, a few may go the way of the dodo but most will slowly rebound and eventually exceed previous highs. If I had to guess I'd suspect Calfrac isn't about to pull the pin. they opened today at $3.27 and quickly fell to $3.00 as of now they are back up to $4.09..... (day traders picking up a 25% profit). Quite sure bottom has not been found yet but in the bigger picture from August 2010 to August 2014 they hovered in the $13-$20 range.

Interesting times indeed

Roger that! I follow quite a few and bought into a couple. Just look at the stock quotes for teck, canadian oilsands (syncrudes majority owner) sunshine oilsands, penn west, athabasca oilsands just to name a few

 

[ZRrrr]

Bogger....I usually enjoy reading your posts as your thought processes are generally "out of the box" pragmatic and positive. It seems however that you took a sip of the Koolaid (please step away from the Koolaid stand!).

We will see if banks/lenders actually drop their interest rates after the anticipated Bank of Canada announcement in a couple weeks. Problem is it will likely put further pressure on the Canadian dollar yet again. Drop in the dollar means anything imported into Canada is about to go up 20 to 30%, and we import a lot! Food, clothing, refined fuel. They try to say the low dollar saves the manufacturing industries in the East, however those industries are still winding down, consolidating or closing at the same rate as they were at the higher dollar. What were are seeing now, with this low level of the dollar and interest rates, is a net negative effect where EVERY Canadian/Canadian Business is about to be hit hard. This is NOT GOOD for Canada/Canadians as a whole.

Taxes have only been increased on profits. Less profit, less tax. Oil patch directly employs only 10% of Albertans. Yes, 10%! Indirectly it employs a higher percentage, but it's not the largest portion. Occupancy rates in oilsands camps are up 11% over the same period in 2014, reservations up 20%, decrease in "no shows".

Recent employment stats for Canada showed a loss of jobs in the oil patch, but of the number of lost oil patch jobs cited in the report, half went on to start self employment. Alberta actually saw a net gain in full time employment in other sectors. In other words, employment in general is up in AB.

Forbes magazine recently reported that "while Seattles business owners (and their customers) were absorbing the cost of paying minimum wage employees $15, unemployment decreased 17.46%, falling from 6.3% to 5.2%. It turns out that you CAN increase the minimum wage (even in large increments) and increase overall employment at the same time". Minnesota raised minimum wage (and income taxes), decreased unemployment to 3.6% and has a median income of $8,000 more than the US average. Their economy was the 5th fastest growing in the US. Forbes ranked Minnesota the 9th bet state for business. Other jurisdictions that have raised minimum wage are seeing similar reductions in unemployment and increases in median income. In the report "Dispelling Minimum Wage Mythology", they take a detailed empirical look at the relationshipbetween minimum wages and employment in all ten Canadian provincesbetween 1983 and 2012. It finds almost no evidence of any connectionwhatsoever between higher minimum wages and employment levels in Canada.And where an empirical connection is found, it is almost as likely to bepositive as negative: in other words, in many cases higher minimum wageswere associated with higher employment (not lower). The report confirmsthat employment levels are overwhelmingly determined by larger macro-economic factors (such as the state of aggregate demand and GDP growth),and are not very sensitive at all to wage regulations.

Debate at this point is somewhat irrelevant as the increase in wages will be going ahead regardless, so only time itself will let us know if it works here in Alberta.

Interesting times indeed!!!

Sure going to make renewing the mortgage nice though..... 1.84% to 2.34% depending on terms.

This is not an Alberta thing or even a Canadian thing, markets around the world are in turmoil and no matter who is leading (I use that term loosely) our government little can/could be done in the short term. That said the corporate tax was untimely, an increase of 2 percentage points or 20% has a much bigger impact than one may think. Many businesses operate on a 7-8% profit margin in good times and over the past year have trimmed that to 3-4% due to competitive markets and efforts to keep employees working so profits are already deeply suppressed. These "Big Business" employers are first and foremost responsible to their shareholders so by tacking a tax increase onto already suppressed profits or in many cases increased losses is a poorly timed decision.

Everyone thinks that CNRL, Syncrude, Imperial, Nexen etc... are the only "Big Business" players in the energy sector. Look out your window, most Alberta based/owned service providers will be negatively impacted by knee jerk monetary policy. I don't think the tax increase will act as a plague and destroy most but again in my opinion the timing is wrong. Run a short term deficit and make up ground where you can until the dust settles. My family was hit as hard as anyone could be with the changes introduced in the most recent PC budget, do I want to pay more? No. Can I afford to pay more? Yes. Will the extra taxes/fees cripple me? No. Do I have a better solution? No. So be it.

I believe the $15/hr min wage will be much more destructive than the corporate tax increase.
-Full time staff will be cut to increase part time staff and save on the cost of benefits.
-Staffing levels in general will decrease.
-Unemployment will increase as will the cost of living and the weekly EI payments to those collecting.
-Cost of goods and services will increase to offset increased operational costs driving up inflation.

There is however opportunity in any market, for someone who has the capital or access to equity there have not been as many stocks trading at or near 52 week lows (for many 5 year lows) since 2008. Many energy stocks are trading at 1/4 their 52 week highs, a few may go the way of the dodo but most will slowly rebound and eventually exceed previous highs. If I had to guess I'd suspect Calfrac isn't about to pull the pin. they opened today at $3.27 and quickly fell to $3.00 as of now they are back up to $4.09..... (day traders picking up a 25% profit). Quite sure bottom has not been found yet but in the bigger picture from August 2010 to August 2014 they hovered in the $13-$20 range.

Interesting times indeed

 

[Summitric]

TAKE THAT TREE HUGGERS..... HAHAHA, A DIFFERENT PERSPECTIVE OF FOREST FIRES .... LMAO

 

[Summitric]

from an article online today:

""Forty thousand Albertans have been laid off so far this year. The unemployment rate in Fort McMurray is 8%. Youth unemployment province-wide is 11.2%. And it’s only going to get worse.

So what is Lori Sigurdson, Alberta’s NDP Minister of Jobs doing? Is she holding emergency meetings with employers? Coming up with an emergency plan to rescue the oilpatch?

No. She’s out in British Columbia, campaigning for Thomas Mulcair.

Alberta is back in a recession but the NDP Jobs Minister is out yukking it up with her federal NDP friends, the party that has publicly called for an oilsands moratorium.

Watch the new video on the subject, here.

This is so gross. It’s so shocking — but in a way, completely unsurprising. The NDP has always hated the oil and gas industry.

Why isn’t this story on the front page of every newspaper in Alberta, and all over the TV and radio? I’ll let the rest of the media answer for themselves. In the meantime, if you want the real news about Alberta’s dangerous NDP, you’ve simply got to visit The Rebel.""

 

[X-Treme]

The Rebel.""

HARDLY a news source.

About the writer of "said article"...

Ezra Levant is a human rights activist, lawyer, author, TV host and dad. He is not to everyone's taste.
In 2014, Ezra was chosen as the “most irritating Canadian” by the Globe and Mail’s TV critic. The Globe’s readers were less discriminating, voting Ezra “the biggest name in Canadian broadcasting”. In the 2014 Hill Times survey of Parliament Hill staff he was voted "talking head you'd most like to silence" by an overwhelming margin.
It's not all bad news, though. In 2009, Ezra wrote a best-selling book called Shakedown: How Our Government is Undermining Democracy in the Name of Human Rights, That book was selected by the Writer’s Trust as the best Canadian political book in 25 years, though that sounds like a clerical error. Ezra went on to write other books, including Ethical Oil: The Case for Canada’s Oilsands, which won the 2011 National Business Book Award, and The Enemy Within: Terror, Lies and the Whitewashing of Omar Khadr. His latest book is Groundswell: The Case for Fracking, was nominated for the 2015 National Business Book Award.


Clearly, he's very one sided. Of course he's going to make a story out of anything that undermines his precious oilsands. He's also been in a TON of hot water over many of his stories, inaccuracies, and comments.

 

[Bogger]

I have not invested a ton of time researching the effects of minimum wage increase, besides I'm sure there are as many articles and studies showing the benefits as there are outlining potential consequences of government manipulation on wages each provided by more than qualified economists and respected business leaders.

I have moulded my opinion selfishly on the belief that I am a "typical" consumer and the majority of "average Joe's/Janes" would react similarly.

In order to cover increased wages product & service providers will be forced to elevate pricing. I will still purchase my Timmies & Whoppers at increased prices, I will however adjust the frequency of my purchases. Assuming others do the same sales volume will decrease, if I'm wrong and people choose to maintain their current consumption they will likely reduce spending in another area of their life. I agree with you when you say macro-economics plays a larger role, but remember macro economics is the culmination of many mico-economies and this whole debate could get very deep very fast and for many who work/live/play in the world of economics it surely will.

I do believe that increasing minimum wage (especially by 50% over 3 years) will force inflation simply because if you put more money in the pockets of the working poor they can/will be able to afford more and the market will recognize and accommodate. If McDonalds is paying $10.60 now and $15 in 2018 then the laborer making $17 now will expect $23 in 2018 and if he is making $23 then the carpenter wants his, the supervisor wants his, the Project Manager wants his and damit if they all get more I want more too.....The cost of your new house just increased 50% now the teachers/nurses/doctors/trade unions/realtors/ etc..ect... all want an equivalent increase.

The government should keep out of the free market, in strong economies no one makes minimum wage anyhow, when was the last time before 2014 ANYONE in fort McMurray, GP, Whitecourt etc. made minimum wage. let the market dictate the value of a position, minimum wage jobs should be for students, part time workers and seniors looking to supplement income and get bored doing nothing. Anyone working adult whom takes pride in what they do should never settle for minimum wage beyond the 3 month probationary period.

All that said..... I am wrong more than I'm right......

Bogger....I usually enjoy reading your posts as your thought processes are generally "out of the box" pragmatic and positive. It seems however that you took a sip of the Koolaid (please step away from the Koolaid stand!).

We will see if banks/lenders actually drop their interest rates after the anticipated Bank of Canada announcement in a couple weeks. Problem is it will likely put further pressure on the Canadian dollar yet again. Drop in the dollar means anything imported into Canada is about to go up 20 to 30%, and we import a lot! Food, clothing, refined fuel. They try to say the low dollar saves the manufacturing industries in the East, however those industries are still winding down, consolidating or closing at the same rate as they were at the higher dollar. What were are seeing now, with this low level of the dollar and interest rates, is a net negative effect where EVERY Canadian/Canadian Business is about to be hit hard. This is NOT GOOD for Canada/Canadians as a whole.

Taxes have only been increased on profits. Less profit, less tax. Oil patch directly employs only 10% of Albertans. Yes, 10%! Indirectly it employs a higher percentage, but it's not the largest portion. Occupancy rates in oilsands camps are up 11% over the same period in 2014, reservations up 20%, decrease in "no shows".

Recent employment stats for Canada showed a loss of jobs in the oil patch, but of the number of lost oil patch jobs cited in the report, half went on to start self employment. Alberta actually saw a net gain in full time employment in other sectors. In other words, employment in general is up in AB.

Forbes magazine recently reported that "while Seattles business owners (and their customers) were absorbing the cost of paying minimum wage employees $15, unemployment decreased 17.46%, falling from 6.3% to 5.2%. It turns out that you CAN increase the minimum wage (even in large increments) and increase overall employment at the same time". Minnesota raised minimum wage (and income taxes), decreased unemployment to 3.6% and has a median income of $8,000 more than the US average. Their economy was the 5th fastest growing in the US. Forbes ranked Minnesota the 9th bet state for business. Other jurisdictions that have raised minimum wage are seeing similar reductions in unemployment and increases in median income. In the report "Dispelling Minimum Wage Mythology", they take a detailed empirical look at the relationshipbetween minimum wages and employment in all ten Canadian provincesbetween 1983 and 2012. It finds almost no evidence of any connectionwhatsoever between higher minimum wages and employment levels in Canada.And where an empirical connection is found, it is almost as likely to bepositive as negative: in other words, in many cases higher minimum wageswere associated with higher employment (not lower). The report confirmsthat employment levels are overwhelmingly determined by larger macro-economic factors (such as the state of aggregate demand and GDP growth),and are not very sensitive at all to wage regulations.

Debate at this point is somewhat irrelevant as the increase in wages will be going ahead regardless, so only time itself will let us know if it works here in Alberta.

Interesting times indeed!!!

 

[Bigblack]

All that said..... I am wrong more than I'm right......

No...I think you have that backwards.