Recession just around the corner?

[WCTHEMI]

6000 + people have left Lloydminster, 250 houses for sale, 130 of them are empty.
Hopefully theft doesnt start. Pretty doom in lloyd right now

It has slowed down here, but I have a lot of doubt in your numbers being close to accurate.

 

[lloydguy]

There are 120 houses privately listed on kijiji and 270 on MLS alone.It is possible that some of
those are duplicates but I doubt if very many are.To say thing's in Lloyd have slowed down a bit
is an UNDERSTATEMENT..............to say the least.
The traffic around town that is oil related(1 ton pickers,goose neck hot shot's,larger picker's,ect.)
Is almost non existant.I personally haven't seen one on the four laner in a month or more.
THING'S ARE NOT LOOKING GOOD.............................................................

 

[Pinner]

Edmonton Journal reporting closer to $50 at close today?

We're selling WCS oil

Western Canadian Select is among the cheapest crude oils in the world[SUP][14][/SUP] with a price of US$29.54/bbl on 15 March 2015,[SUP][10][/SUP][SUP][15][/SUP][SUP]:C6-7[/SUP] its lowest price since April 2009.

Western Canadian Select - Wikipedia, the free encyclopedia

 

[DRD]

What's the spread out WCS and conventional oil in terms of production?

 

[IronRiverKid]

The 2008 I would just call a slow down, just a little blurp. Been through 3 recessions since "81. Unless this one is different they all last a little longer than the last, but then who knows. Funny thing is everyone that goes through one of these recessions says it'll never happen again. When the price was over $120 barrel people said it'll never drop below $100. If you've been in the oil patch any length of time never say never, never is a very short time. Say what you want but it'll bring some reality back to some people. Still don't understand why the price of gas is still so high. It started to drop when the price of oil dropped, then started to climb and price of oil is about the same?

 

[Stompin Tom]

The 2008 I would just call a slow down, just a little blurp. Been through 3 recessions since "81. Unless this one is different they all last a little longer than the last, but then who knows. Funny thing is everyone that goes through one of these recessions says it'll never happen again. When the price was over $120 barrel people said it'll never drop below $100. If you've been in the oil patch any length of time never say never, never is a very short time. Say what you want but it'll bring some reality back to some people. Still don't understand why the price of gas is still so high. It started to drop when the price of oil dropped, then started to climb and price of oil is about the same?

somebody is still making boat loads of money, its just not us, the working men.

 

[sumx54]

somebody is still making boat loads of money, its just not us, the working men.

nobodys making boatloads of money. If the "big guys" are making boatloads of money then I'm making boatloads of money....

friggen keyboard economists....LOL

 

[lilduke]

Some peoples Boats are bigger than others.....

 

[Stompin Tom]

nobodys making boatloads of money. If the "big guys" are making boatloads of money then I'm making boatloads of money....

friggen keyboard economists....LOL

Im still paying way to much for fuel, lots of guys getting laid off or taking roll backs. Somebody is making a boatload of money, im still paying it, working guys isnt getting it. Simple in my mind.

 

[moto.racerx]

U.S. Oil Rig Count Keeps Falling - WSJ

 

[fredw]

I've had three people this week call looking for jobs at the farm... Patch must be at a all time low, but fuel prices are still way to high...

no recession ion gapping in our town, just a few hurt prides

 

[catalac]

So at what point does this thread become recession just around the corner to recession is here. Buddy with hydrovac business said advertising for job on kijiji got 300 apps in one day, a year ago add would run for a week to get a days worth of interviews set up.

ps other buddy said just took a 15% wage cut, but still working.

 

[Summitric]

Yah, we ran an ad on kijiji looking for automotive techs and got 50 resumes... Couple years ago we received 1


Sent from my iPad using Tapatalk

 

[kovs]

The rate cuts don't make a lot of sense - prob never will but is fuel and the vac truck or whatever dropped in price 15-25%?? Has the office staff at these oil companies taken a 15-25% paycheck cut??
I know I'm scared to see the fuel prices when oil starts going back up and when things pick back up are they going to let the rates rise 15-25% that they knocked you back??



Sent from my iPhone using Tapatalk

 

[Redturbo]

wcthemi, my info came from my friend that works in city hall of Lloyd that handles land title transfers or whatever there called. so I would say there accurate!

 

[pfi572]

FYI
Rate cuts don't come from the corporations .
They come from company's that are willing to work for less .
If no one worked for the ASKED discount you think rates would drop?
Something to think about?

 

[Stompin Tom]

FYI
Rate cuts don't come from the corporations .
They come from company's that are willing to work for less .
If no one worked for the ASKED discount you think rates would drop?
Something to think about?

Its a real catch 22 situation. Say no to a rate cut, hold your line, then somebody comes along who has lost their contract and undercuts you, your now sitting at home. Vast majority have very large payments on equipment, soon your pride takes a licking and your undercutting the next guy before the bank takes your equipment, and so on and so on. Its a fact of life, everyone has a different way of reacting.

If everyone stood their ground then a percentage would get laid off, another percentage would stay working. The gamble is if your one of the ones who keeps working.

If your suggesting that there would be no response from the corporations if there wasnt some roll back, that is very naive on your part.

 

[pfi572]

^^^^
Exactly .
My point is they ask and someone is willing to work your less as soon as the industry as a whole slows down .
Public run company's seem to be the worsted for cutting so they can show share holders they are still working .
Takes a few months to a year to weed out the over extended ones.
Rates come back up and cycle starts all over again.

 

[X-Treme]

Yah, we ran an ad on kijiji looking for automotive techs and got 50 resumes... Couple years ago we received 1


Sent from my iPad using Tapatalk

And did you find someone DECENT?

 

[Stg2Suby]

Yup. First the layoffs, gets people on the edge, then a notice on rollbacks, guys are happy it wasnt a pink slip so they tighten their belts and carry on.

Yes this is pretty well exactly what happened where I work