Recession just around the corner?

[recguy]

May be a bit of a derail but somewhat related I believe, Does anyone know or is aware of a recent change in Canadian banking laws that now allow chartered banks to use their depositors funds to cover any losses incurred by that institution in its entirety ? I was told that that change to the banking act has been made or is in the massaging process.
Scarey but unfortunately wouldn't be surprising . Hopefully rumor .

Wow so how does a guy get his cash out of his business account without it becoming personal income? Heres a good one for all you guys out there.

 

[gates559]

Wow so how does a guy get his cash out of his business account without it becoming personal income? Heres a good one for all you guys out there.

go buy real estate than mortgage it.

 

[freeflorider]

$44.00 per hour is pretty much the norm around here for a logging truck driver

Wooooooh
27% of the truck rate here and I thought that was good, aprox $35 hr. What's the trucking rates in your parts...guess that's why we can't find any trucks down here in the west kootaneys. I agree though we are trying to push our logging rates up so we can attract good help back from the patch.

 

[Bnorth]

It's not all rates. Trucks are scarce and we pay some of the better rates around, there's more to the problem than that.

 

[800HMX]

Spent the weekend in Revy. Been riding there for many many years. Can't remember it so quiet! Usually in low snow years, the sledding traffic moves to Revy - I can't imagine how slow it would have been if there was snow anywhere else.

 

[Stompin Tom]

Wooooooh
27% of the truck rate here and I thought that was good, aprox $35 hr. What's the trucking rates in your parts...guess that's why we can't find any trucks down here in the west kootaneys. I agree though we are trying to push our logging rates up so we can attract good help back from the patch.

$4.05 a tonne hours, trucks can average an easy 42 tonnes, 4.05 * 42 equals $170.10 per hours for the truck, 27% equals $45.927 per hour.

That is short logger rates where we haul.

Basically if a driver cant make a minimum of $500.00 a day they are walking, lots of guys pulling in over $650 per day if they want to put in the hours.

 

[ZRrrr]

Interesting comment by Mr. Prentice. “If oil prices persist at sub-$50 per barrel, we essentially have no oil revenue, and it opens up a revenue hole in Alberta’s finances that approaches $10 billion,” he stated.

Repeat that, slowly: “If oil prices persist at sub-$50 per barrel, we essentially have no oil revenue …”

We are now officially giving away OUR oil.Royalites when Ralph came in - 32%
When he left - 16%
Ron Liepert and crew made it 6%

 

[DRD]

$4.05 a tonne hours, trucks can average an easy 42 tonnes, 4.05 * 42 equals $170.10 per hours for the truck, 27% equals $45.927 per hour.

That is short logger rates where we haul.

Basically if a driver cant make a minimum of $500.00 a day they are walking, lots of guys pulling in over $650 per day if they want to put in the hours.

Pardon my ignorance, CVE doesn't limit how many hours a day you can work? In our service trucks we are limited to 12

 

[Bnorth]

Pardon my ignorance, CVE doesn't limit how many hours a day you can work? In our service trucks we are limited to 12

Log truck drivers are limited to 15 hrs.

 

[800HMX]

Interesting comment by Mr. Prentice. “If oil prices persist at sub-$50 per barrel, we essentially have no oil revenue, and it opens up a revenue hole in Alberta’s finances that approaches $10 billion,” he stated.

Repeat that, slowly: “If oil prices persist at sub-$50 per barrel, we essentially have no oil revenue …”

We are now officially giving away OUR oil.Royalites when Ralph came in - 32%
When he left - 16%
Ron Liepert and crew made it 6%

The reality is that competitive royalties allow Canada to compete with other countries, specifically the US. Exploration and production costs (equipment, transportation and labor) are significantly higher than in the US. Without the royalty structure as it exists in Canada today, we would not be able to compete with the US and there simply would be no activity in Canada.

 

[DRD]

Log truck drivers are limited to 15 hrs.

Thanks,
It makes perfect sense that me in my pickup is more of a hazard on the road after playing mechanic for a shift than a guy in a log truck who has been hauling for 14hrs.

 

[Stompin Tom]

Pardon my ignorance, CVE doesn't limit how many hours a day you can work? In our service trucks we are limited to 12

CVSE Loggers exemption allow you to work 15 hours a day, a max of 13 hours driving. 80 hours on duty per 7 day cycle, 65 max driving, must have 36 hours off to reset your week.

 

[ZRrrr]

US is our largest customer!

They are amassing cheaper oil from fracking shale as we debate. Either way it's not looking good for bitumen.

Mexico and US just signed a big deal for the importation of Mexican oil to the gulf coast and Mexico gets a return of bilbit I think it is, so they can refine in country. Not looking good for Canada.

The reality is that competitive royalties allow Canada to compete with other countries, specifically the US. Exploration and production costs (equipment, transportation and labor) are significantly higher than in the US. Without the royalty structure as it exists in Canada today, we would not be able to compete with the US and there simply would be no activity in Canada.

 

[Stompin Tom]

Thanks,
It makes perfect sense that me in my pickup is more of a hazard on the road after playing mechanic for a shift than a guy in a log truck who has been hauling for 14hrs.

I would suggest your reading your regulations wrong. Cycle 1 allows 14 hours a day and a max of 13 hours driving. I think as a service truck you are expected to run on cycle 1?

The reason loggers are given a 15 hour day and a max of 13 hours driving is because loggers tend to spend more time on duty not driving than other types of truck work, ie getting loaded and unloaded in bush and mills.

 

[rzrgade]

Thats great and all but it will do little about the recession.......lol

 

[Mike270412]

Heard on the radio yesterday that 95% of all the "extra" oil revenue over the last 10 or so years went into government wages and expense accounts.

Interesting comment by Mr. Prentice. “If oil prices persist at sub-$50 per barrel, we essentially have no oil revenue, and it opens up a revenue hole in Alberta’s finances that approaches $10 billion,” he stated.

Repeat that, slowly: “If oil prices persist at sub-$50 per barrel, we essentially have no oil revenue …”

We are now officially giving away OUR oil.Royalites when Ralph came in - 32%
When he left - 16%
Ron Liepert and crew made it 6%

 

[800HMX]

US is our largest customer!

They are amassing cheaper oil from fracking shale as we debate. Either way it's not looking good for bitumen.

Mexico and US just signed a big deal for the importation of Mexican oil to the gulf coast and Mexico gets a return of bilbit I think it is, so they can refine in country. Not looking good for Canada.

Yep, Bitumen is about as expensive as it gets and and we need it to sell our condensate, kind of a double whammy. US Shale is not doing too good either as it costs around $70 to produce (Baaken rigs are going down like crazy). The market is the US and I bet Mexico oil is way cheaper to produce and probably closer to the market to boot - good thing the infrastructure isn't in place yet to be a real threat (in the short term anyway).

 

[pistoncontracting]

Thats not correct, and what the oil company's want you to believe.. Oil patch is less than 30 years old in alberta and before that we still survived, made a good living and always had food on the table..

Back in 1974 we received our first gas well and have had many over the future of the farm... Many said you could only make it because of the wells... Well now those same wells are cementing off by the year and we are still above water the same as we were before they came... Yes they help make the bottom line, but don't dictate the farm much

yes it was nice income and raised crazy land prices but now we also seen its ulgy side as well... leave that alone for now

i was in the patch in1986 and our break even was 9 dollars, prices were at 12... Pump jacks still turned and we kept cost down.. Services were in line... And a good wage was 10 to 15 dollars/hr... In line with all other bussiness

if you now look at other industries... They are not paying anything close to what the patch is paying, and good workers are lost to the pach that should be in other industries.. Then look at how the fuel price dictates all other bussiness..This makes it harder for all society to carry on, and why corrections must happen

prices of wheat back in 86 were 2 to 3 dollars... They are now 5 to 6 dollars... Again follow a modest growth line

All Pigs get slaughterd, just a matter of time

50, 60, 100k in some cases from gas and oil well revenue. That does a lot more then just 'help' the bottom line.
It also gave many young fellas a job spinning chain for the winter, and if smart easilly made 20 or 30k after the combine shut off, and seeder fired up in the spring. Also came the opportunity for for guys to run an oilfield/gas field service company, which all helped grow the farm. And good for them. Oil and gas has made a HUGE difference in the rural part of the prairies, and rightfully so. It was also pissed away or missed by many to lazy or stupid NOT to take advantage and embrace the potential.

To make it sound like it just helped a little bit is far from the truth. One doesn't need to go very far in the province to see the difference in prosperity, or push that oil and gas revenue made or broke the farm. In fact, more family farms then not, would likely have gone under if it WASN'T for the terrible patch.

Times are going to be tougher this time only because most still haven't recovered from the last 'blip'.

 

[ZRrrr]

Can't speak for how it helped out farmers, but according to recent numbers is sure helped a lot of Albertans amass considerable personal debt.

 

[rzrgade]

Personal debt is a personal CHOICE, nobody helps you....it is everyone's own free will that comes into play....