Recession just around the corner?

[gates559]

Yeah were only a war or one good oil spill away from being back full steam ahead, and $2.00 per liter gas at the pumps

 

[rzrgade]

So mrs Clinton says" we have the dirtiest oil on the continent " ..... So no Keystone! Or was she talking about Bills old cigar habit.....
what a crazy old lying witch.... She will NOT be good for Canada ....!!

 

[lsone]

^^^huh?^^^

You even work/understand how the patch works?? Pretty sure DRD is correct.


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Im in the processing side of Oil/Gas. Plant work. Currently on a $400 million dollar project(peanut project), I know what's approved and what has been started already for future projects. Our 700+ crew of workers has a brutal turn over due to lack of skilled trades workers which creates one issue... Gun shy shareholders when schedules get pushed out continuously.

Yea I have no idea whats going on.... Give me a break.

 

[LBZ]

A lack of skilled trades are not the problem. A lack of realistic timelines with highly restricted budgets are the issue. Everyone is fighting for work and underbidding so badly that they end up screwing themselves and scrape for the bottom of the barrel for guys. There are lots of good skilled guys but because they won't work for peanuts, well you end up with TFW'S and scabs turning out cheap $hit quality work.

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[tiger666]

Totally agree with LBZ.

 

[sumx54]

Im in the processing side of Oil/Gas. Plant work. Currently on a $400 million dollar project(peanut project), I know what's approved and what has been started already for future projects. Our 700+ crew of workers has a brutal turn over due to lack of skilled trades workers which creates one issue... Gun shy shareholders when schedules get pushed out continuously.

Yea I have no idea whats going on.... Give me a break.

400 million dollar project isn't "peanuts" give me a break.

 

[Mike270412]

I thought he meant they were building a peanut factory.

 

[X-Treme]

I thought he meant they were building a peanut factory.

You must spread some Reputation around before giving it to Mike270141285745288575637247643626143464859 again.

 

[Bnorth]

So Joe Oliver is an incompetent lying fawk. Trying to say there wasn't a recession because only oil and gas were retracting and that's only 20% of the economy. If 20% of your economy is falling hard enough to drag the other 80% with it it's still a recession. Guess he's only allowed to say what puppet master Harper let's him.

 

[snochuk]

I take it you haven't seen any of the plant work just outside of Fort sask? lol. 2500+ men at NWR, 700+ @ Williams, 300+ @ Pembina, Plus agrium. All are doing projects.

That is only 4000people with no new major projects out for tender. That means no starts for next summer. There were 8500 people a KEARL alone at peak not to mention the other projects. There are lots of skilled craft being sent back east as there is not enough work. Flights are canceled outside of Alberta. Pay your own way if you want to stay. The ripples are flowing.
There will be work but nowhere near the volume seen in the recent past. Big oil is also using there cash to buy out smaller struggling foreign companies using up capital for quicker returns.
Reduce what ever debt you can.
There should be cheap toys on the market next summer in Alberta - just watch out for the liens!

 

[Summitric]

Are many companies moving out of alberta to northern bc or saskatchewan?

 

[snochuk]

400 million dollar project isn't "peanuts" give me a break.

I am the assistant construction manager on a $425M project - this lasts our company two years peaking at 300 men, averaging under 200. A bigish job for us but not huge volume of craft due to equipment supply costs. Big oil has huge costs - like everything else $400M does not go as far as it used to. Peanuts no, a big deal.....not really.

 

[snochuk]

Are many companies moving out of alberta to northern bc or saskatchewan?

Most large players in the game have Western Canada braches so probably not moving as it is not good to have your face out of the game. If you have a good reputation owners want you back, typically the other guys pullout during these times. We never stop bidding west of Ontario and send teams to where ever needed in the west. We have enough branches in eastern Canada.
All "local" companies do the necessary downsizing as required but stick around and bid surrounding provinces.

 

[Joholio]

Reduce what ever debt you can.
There should be cheap toys on the market next summer in Alberta - just watch out for the liens![/QUOTE]

Polaris Axys 163 for 7g!

 

[fredw]

Seen a few cal frac and iron horse trucks in the feild today, southern Alberta.. Can't be to ruff or maybe services are getting use to 40 dollar oil and dropping their rates.. Life still goes on with this oil..

heard more ore than once this last month that 100 dollar oil is what causes more hardships than anything else.. Keep it at 70 and all stays smooth

 

[ZRrrr]

Report from the ATB (via Stats Can):

Though wage growth has been slowing significantly in our province since the beginning of the year, on average, Albertans remain the highest paid in the country. Average weekly earnings here in Alberta are still 13 per cent higher than second-place Newfoundland and Labrador ($1,013) and still outpace third-place Saskatchewan by 16 per cent ($987).

It’s no surprise that employment losses and wage decreases in the mining, quarrying, and oil and gas extraction sector were mostly to blame for the fall in average weekly wages in July. But, real estate and rental and leasing as well as accommodation and food services were two other areas that saw notable declines, too. Interestingly, workers in the information and cultural industries saw a large boost to weekly earnings.

 

[gates559]

Reduce what ever debt you can.
There should be cheap toys on the market next summer in Alberta - just watch out for the liens!

Polaris Axys 163 for 7g![/QUOTE]

I'm definitely going to be selling all my toys next summer..... dirt cheap. Cash only!!!

 

[ZRrrr]

Todd Hirsch • Chief Economist September 29, 2015 They keep coming, and coming and coming… Alberta might be in recession, but that hasn’t stopped thousands of Canadians from moving here. Between April and June of this year, a total of 31,293 people arrived in Alberta from other provinces. At the same time, 23,029 packed up and left for greener pastures elsewhere in Canada. That left a net gain of 8,264 new Albertans, outpacing the average quarterly gain of 7,000 over the last five years. Interprovincial migration from one province to another is helpful to equalize labour market pressures. But 2015 has been a difficult year for Alberta’s economy, particularly in the energy patch. The fact that Alberta is still gaining thousands of net interprovincial migrants presents a bit of a puzzle. The mystery could be partially explained by the fact that while economic conditions in Alberta are weak, they aren’t much better in most other parts of the country. The economy was tepid across Canada in the first half of the year, to the point that Statistics Canada claimed it met the technical definition of a recession. Another explanation could be that while the petroleum sector is shedding jobs, other sectors in Alberta are still hiring. As of the mid-point of the year, employment was still up sharply in education, health care, transportation, forestry and accommodation and food services. The net inflow of people to the province could still reverse in the second half of the year. Outflows of labour from Alberta are not uncommon (see 2009 in graph below). And one province particularly—British Columbia—is having a strong year. We could easily witness some out migration moving west over the Rocky Mountains in the coming quarters. @ABeconomist ABeconomist Meet ATB's Economics team

 

[MK4TDI]

No recession in the government.

https://youtu.be/wDp7A_6083k

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[bobsledder]

We are seeing a whole bunch of albertan's coming our way looking for work. Mainly the unskilled laborer and truck driver types.

Guess they are moving back home!