Recession just around the corner?

[teeroy]

my friend's co did it the opposite way kinda, he sent out a letter with the last paycheque asking everyone he felt was worth keeping around to agree to certain conditions regarding their employment with the company....one being a reduction in wages....those that agreed to the conditions will stay employed. probably

 

[Pinner]

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

Absolute blood bath in downtown Calgary...thousands of office jobs gone, thousands.

 

[raceu4it]

nobody seems to be in a rush to by sled parts.

 

[sumx54]

Absolute blood bath in downtown Calgary...thousands of office jobs gone, thousands.

exactly... Oil companies are taking a HUGE hit right now, not just the "working man"

 

[X-Treme]

exactly... Oil companies are taking a HUGE hit right now, not just the "working man"

Not exactly sure how, when the oil price is SOOO low, and the gas prices are still so freakin high. SOMEONE is making money.

 

[Absledder]

Not exactly sure how, when the oil price is SOOO low, and the gas prices are still so freakin high. SOMEONE is making money.

Thats great for refineries to buy it cheap and sell the products high. Nice if we had one of those here in alberta instead of shipping all our crude south but most of the oil companies here arent in the refining side, just producing.

 

[Summitric]

Isnt that why they call the esso, petro-can and shell refineries, "refineries" ..... They're refining the crude?

 

[sumx54]

Isnt that why they call the esso, petro-can and shell refineries, "refineries" ..... They're refining the crude?

They don't even produce 5% of the fuels we use.

 

[pfi572]

They don't even produce 5% of the fuels we use.

I think you are way off base? Lol
If you think your correct could we see some documentation ?
Good friends ran the northern Shell bulk stations for years till they sold out a few years ago.

 

[tater]

Not exactly sure how, when the oil price is SOOO low, and the gas prices are still so freakin high. SOMEONE is making money.

you are forgetting the exchange rate... Which helps the exporters! Betcha the mills in bc are busy!

 

[Absledder]

heres the list of refineries in alberta from wikipedia:

[h=4][][/h]

• , (), 187,000 bbl/d (29,700 m[SUP]3[/SUP]/d)
• , (), 100,000 bbl/d (16,000 m[SUP]3[/SUP]/d)
• (), 135,000 bbl/d (21,500 m[SUP]3[/SUP]/d). Formerly (before Aug 2009)
• , Alberta Industrial Heartland (45 km NE of Edmonton), (North West Upgrading/Canadian Natural Upgrading). Phase 1: 50,000 bitumen bbl/d (7,900 bitumen m[SUP]3[/SUP]/d)

The company I work at puts out more than scotford and suncor could handle. And thats one company out of how many? The majority of our oil leaves AB unrefined.

 

[freeflorider]

you are forgetting the exchange rate... Which helps the exporters! Betcha the mills in bc are busy!

Not that busy....rates are crap,mills are out of wood but no one wants to pay up to make it happen like when the oil market went up. Our bc gov and the fat cats that own the mills want to keep it all to themselfs. Down with the working man, it's everywhere bc and alb alike.

 

[800HMX]

heres the list of refineries in alberta from wikipedia:

[]

• , (), 187,000 bbl/d (29,700 m[SUP]3[/SUP]/d)
• , (), 100,000 bbl/d (16,000 m[SUP]3[/SUP]/d)
• (), 135,000 bbl/d (21,500 m[SUP]3[/SUP]/d). Formerly (before Aug 2009)
• , Alberta Industrial Heartland (45 km NE of Edmonton), (North West Upgrading/Canadian Natural Upgrading). Phase 1: 50,000 bitumen bbl/d (7,900 bitumen m[SUP]3[/SUP]/d)

The company I work at puts out more than scotford and suncor could handle. And thats one company out of how many? The majority of our oil leaves AB unrefined.

There has not been a new refinery in Canada in decades, just can't get public/regulatory support.....so the product gets shipped to refineries in the USA.

 

[freeflorider]

heres the list of refineries in alberta from wikipedia:

[]

• , (), 187,000 bbl/d (29,700 m[SUP]3[/SUP]/d)
• , (), 100,000 bbl/d (16,000 m[SUP]3[/SUP]/d)
• (), 135,000 bbl/d (21,500 m[SUP]3[/SUP]/d). Formerly (before Aug 2009)
• , Alberta Industrial Heartland (45 km NE of Edmonton), (North West Upgrading/Canadian Natural Upgrading). Phase 1: 50,000 bitumen bbl/d (7,900 bitumen m[SUP]3[/SUP]/d)

The company I work at puts out more than scotford and suncor could handle. And thats one company out of how many? The majority of our oil leaves AB unrefined.

Why is it that we have the product and so many smart oil boys out there but know one wants to invest in refining? Seem like the right thing to do....NO?

 

[800HMX]

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.

Good point. Unfortunately we have barely scratched the surface. Clearly hurtful for those that have already been directly affected, however I don't think we will see the depth of this slow down until at least Q4 of this year or Q1 next year. We are in about month five of lower prices. We could easily see another 12 months before oil recovers to $70/bbl or before we see any real activity.

 

[catalac]

Good point. Unfortunately we have barely scratched the surface. Clearly hurtful for those that have already been directly affected, however I don't think we will see the depth of this slow down until at least Q4 of this year or Q1 next year. We are in about month five of lower prices. We could easily see another 12 months before oil recovers to $70/bbl or before we see any real activity.

I think you are right, spoke with buddy today he said all the newfies who have been getting two way tickets in and out all got a one way ticket today.

 

[Stompin Tom]

Not that busy....rates are crap,mills are out of wood but no one wants to pay up to make it happen like when the oil market went up. Our bc gov and the fat cats that own the mills want to keep it all to themselfs. Down with the working man, it's everywhere bc and alb alike.

Up here in the central interior its balls to the wall, shortage of trucks and drivers, mill yards are low heading into breakup, going to busy as hell this summer as long as we dont burn down. Rates are at an all time high.

 

[rebel]

There has not been a new refinery in Canada in decades, just can't get public/regulatory support.....so the product gets shipped to refineries in the USA.

Not a refinery guy so maybe talking out my @ss.
Most of the US refineries have switched so they can process our oil sands

Have heard its costly and time consuming to switch back. And it being cheaper to buy than domestic. Why switch.

Have heard it would be 10-20 years to build another refinery. (Although it would be good for our economy) Easier to put in pipe to fetch a higher price from the asian market.
Also energy east would be good as well for eastern refineries and hit the asian market by sea.
IMO Alberta should have been constructing a refinery or two when oil started to climb in 2001 from 9 buck a bbl. Should have been refining more raw product a long time ago.

Sent from my SGH-I547C using Tapatalk

 

[Bnorth]

Up here in the central interior its balls to the wall, shortage of trucks and drivers, mill yards are low heading into breakup, going to busy as hell this summer as long as we dont burn down. Rates are at an all time high.

Southern interior is the same story, mill yards are healthier than up there though.

 

[Stompin Tom]

Southern interior is the same story, mill yards are healthier than up there though.

Winter was to warm, into breakup a good 3-4 weeks early, that has hurt the mill yards but will be good for the contractors, nothing better than a mill yard out of wood