Recession just around the corner?
- Thread starter neilsleder
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moyiesledhead
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Sorry. Just couldn't sit through all the advertising to get to the video.
DRD
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Weird, my browser took me straight to the video.
I hope he's wrong but the $66 dollar oil futures suggests he may be right.
pistoncontracting
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Batton down the hatches kids, I think a storm is on the horizon
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fredw
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Thirty years ago albertans made very little from their oil and gas, and my grand parents and parents still raised their families and had a good life...
so don't let oil run your life, lots of other good paying jobs out there, our patch needed a correction for years allready, we should be blessed it lasted this long, in the eighttys and 90s lots of twenty dollar oil years
some of the services and wages being paid by patch needed a correction, it was out of control to other business
what I have seen in the last decade, oil has hurt farming somewhat in land not selling threw generations due to well revenues and actual cost of the land being sold on speculation of oil returns, so it's not always good for all society
so don't let oil run your life, lots of other good paying jobs out there, our patch needed a correction for years allready, we should be blessed it lasted this long, in the eighttys and 90s lots of twenty dollar oil years
some of the services and wages being paid by patch needed a correction, it was out of control to other business
what I have seen in the last decade, oil has hurt farming somewhat in land not selling threw generations due to well revenues and actual cost of the land being sold on speculation of oil returns, so it's not always good for all society
papajake
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great then i can go buy that 60000 truck for 20000 and that 14000 polaris for 5000 and buy my gas for 85 cents a litre and get my motel room for 50 a night more sledding for us average old guys
If oil stays below $75 and natural gas under $4.50 for any amount of time, there will be a correction. Programs will be cancelled starting with oil sands and heavy oil, next will be the shale programs and finally conventional gas and oil? The AB, BC and Sask budgets will be significantly affected and spending will slow. There will be a lot more time for sledding this winter, especially those with a few bucks in the bank.
As Fred mentioned, a few things will be reset including the price of property (land, houses), wages and eventually vehicles and sleds. Not too many custom lightweight hillclimber's, probably fewer $80,000 trucks and maybe not so many gaudy, wrapped T3's.
As Fred mentioned, a few things will be reset including the price of property (land, houses), wages and eventually vehicles and sleds. Not too many custom lightweight hillclimber's, probably fewer $80,000 trucks and maybe not so many gaudy, wrapped T3's.
fredw
Active VIP Member
Now if we could just get diesel down to 50 cents a liter, I have a few hopper bins to get me buy to retirement... Done paying 110 a liter
I don't get why diesel is 20-30% more than gas. I understand the supply thing, but we consume so little diesel compared to gas in NA (probably about 1/3). Diesel is a premium cost in Europe but not this premium.
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ABMax24
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Diesel is burnt by a lot of commercial vehicles and heavy equipment, I can't afford to stop working because the price of diesel is high so I pay it, neither can anyone else that uses it to power their equipment, so we are stuck between a rock and a hard place, the refineries and fuel stations have us by the balls and they know it.
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Bogger
Bogger of the GBCA
I would argue that diesel consumption all over the world, even here in NA is much more than gasoline..... Semi's, Ships, Trains, Heavy Equipment, Transit, Generators, Heaters, the list goes on
Joholio
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Railway uses most diesel of anything in Canada.
ABMax24
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Unfortunately I would have to argue that semi's use the majority of the diesel, trains are significantly more efficient per ton of goods moved and trucks still haul far more tonnage.
Joholio
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The US Navy and Union Pacific Railway have been the top two consumers in North America in recent years... Best info I could lazily research tonite...
ABMax24
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They are the largest single consumers of diesel, but the countless thousands of trucks still burn more in total, but regardless it's irrelevant to the topic at hand.
Joholio
Active VIP Member
Growth in consumption of resources drives all economies. The costs associated with the extraction and refining of these resources have never been higher. The oil and gas taxes make up for a large percentage of all major countries budgets. The lower prices will most definitely affect our economy and theirs(US, Russia, etc). Less money for everything. Keep a tight azz friends.
ABMax24
Active VIP Member
The bad part is the price will go up again just the same way it dropped but when who knows, regardless there is no such thing as stability in the markets, its either feast or famine particularly in the oil patch. On the upside I hope the housing market stabilizes because of this.
Cdnfireman
Active VIP Member
As long as it's cold and crappy in eastern North America the diesel prices will stay high. Imagine the tens of thousands of houses, apartments, office buildings, malls etc that use heating oil. A 20 storey building uses a **** load of fuel. What a train or piece of equipment uses is nothing in comparison. And the building needs it 24-7. Not just for an 8 or 12 hour shift. Now multiply that by the number of buildings. It's a commodity that gets priced and moved by market demands. Us poor slobs that need it to get around or get our work done get caught in the middle. Always have, always will
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