Violator Posted May 6, 2015 Share Posted May 6, 2015 My buddy just said "Quick invest in wind power!". Sad thing is, if Alberta got into wind power they'd be probably way better off long term. There is alot of wind power in alberta Link to comment Share on other sites More sharing options...
felixthecat_potvin Posted May 6, 2015 Share Posted May 6, 2015 Tired of the corruption that permeates everywhere the Conservative party goes. Historic day for Alberta! Somewhere, poor Redford is crying tears on her private jet. Link to comment Share on other sites More sharing options...
LaBamba Posted May 6, 2015 Share Posted May 6, 2015 Tired of the corruption that permeates everywhere the Conservative party goes. Historic day for Alberta! Somewhere, poor Redford is crying tears on her private jet. Hahaha, yes, the NDP will be a corruption free government. Say goodbye to corruption Alberta, you have nothing but honest and translucent government related affairs now. Link to comment Share on other sites More sharing options...
drummer4now Posted May 6, 2015 Share Posted May 6, 2015 Hahaha, yes, the NDP will be a corruption free government. Say goodbye to corruption Alberta, you have nothing but honest and translucent government related affairs now. Will this government have much of an impact on the oil patch? Link to comment Share on other sites More sharing options...
LaBamba Posted May 6, 2015 Share Posted May 6, 2015 Considering how badly the PCs have ruined the province's bottom line despite having tons of economic advantages (higher oil royalties are basically a 'Get out of debt free' card that most parts of the world do not have. NDP need to: -Raise royalties on oil -Raise corporate tax -Establish a more reasonable minimum wage ($10 is a joke considering how much Canadians are already taxed) Before you tell me businesses will move on, remember Alberta has the oil. That oil is basically a money press. Nobody's leaving. Put some of these strategies in place now, and the government can even lower taxes later on, after some of the fiscal damage has been repaired. Alberta "Had" the oil before the revolution of Hydraulic fracturing. Oil is now heavily abundant globally. May it be short term or not, there isn't much time for experiments. Anyone who has been watching the Q1 results of the energy sector the past few weeks knows they aren't making any money at these depressed oil prices. Precision drilling for example, reported a 76% reduction of profit in comparison to last years Q1 results. Tacking on corporate tax and Adding royalties at these current oil prices is no joke. These companies aren't interested in feeding the middle class, they are interested in feeding their shareholders. After a windmill is up and running it employs at best 5 people a year per windmill, he'll call it 10. A drilling rig is more like 60 people a year directly, indirectly who knows. Clean energy is great, but it doesn't employ a lot of people once in place. Its extremely expensive to implement the new infrastructure and workforce. All of these leaps in green energy will add pressure to oil. Could be tough times ahead. Our dollar is directly linked to the price of oil, some of the darkest days in Canada are all correlated to depressed Oil prices. I am open for change, but there must be balance. Oil isn't as hard to find these days and technology is only making it easier. We don't have that hand to force on oil companies today. Something does need to be done about the boom and bust. A big part of that should be clean energy. I just hope the transition is a careful one. Link to comment Share on other sites More sharing options...
Warhippy Posted May 6, 2015 Share Posted May 6, 2015 Say what? You mean all those people working the Oil Patch and supporting the Oil industry are all non union????? Yes, lowest in Canada - but that's still a lot of voters: http://www4.hrsdc.gc.ca/.3ndic.1t.4r@-eng.jsp?iid=17 By no unions I should have specified, my apologies. Unions deemed NDP friendly. Like the BCTF. That is the big hue and cry about the NDp is that they're union lovers. Helping or supporting the working man never seems like a bad idea to me. Working people built this country and men in suits are destroying it Link to comment Share on other sites More sharing options...
LaBamba Posted May 6, 2015 Share Posted May 6, 2015 Will this government have much of an impact on the oil patch? In theory, yes, adding royalties drives up the break even cost of oil. Canada already has some of the highest cost/bbl in the world. The oilsands produces "Canadian select" ( heavy garbage) oil which has been around 30ish a bbl for quite some time now. Once hedging runs out there will be some desperate CEOs. However, I don't think the NDP is that stupid. I'm sure a game of chicken will take place and the government will take a similar amount of royalties as today. They will move the numbers around to appear like an increase. Royalties are so complex that it would be fairly easy to do. Link to comment Share on other sites More sharing options...
Uncommon Sense Posted May 6, 2015 Share Posted May 6, 2015 I still think the news channels are playing some kind of prank on us. How did the NDP win anything in Alberta?!?! http://t.co/h3f3EywRlR Link to comment Share on other sites More sharing options...
Uncommon Sense Posted May 6, 2015 Share Posted May 6, 2015 Edmonton is entirely NDP on the provincial level; they captured all 19 ridings. Link to comment Share on other sites More sharing options...
Industrious1 Posted May 6, 2015 Share Posted May 6, 2015 Living in Alberta I can say that an NDP win isn't surprising to me at all, maybe the margin of victory but the fact that they won? Nah.Allison Redford left a bad taste in everyones mouth and Prentice didn't really do much to try and correct that. Personally I thought Wildrose would take more ridings but NDP did everything right in the election and should be commended for toppling the PC oligarchy that has ruled here for so long.The king is dead...long live the queen! Let's hope she doesn't stumble around the political landscape as bad as her predecessors did. Link to comment Share on other sites More sharing options...
ice orca Posted May 6, 2015 Share Posted May 6, 2015 There is alot of wind power in alberta Ottawa trumps that x10. Link to comment Share on other sites More sharing options...
nucklehead Posted May 6, 2015 Share Posted May 6, 2015 Dynasty= dy nasty Link to comment Share on other sites More sharing options...
Hugor Hill Posted May 6, 2015 Share Posted May 6, 2015 The cowboys voted left?? Link to comment Share on other sites More sharing options...
thejazz97 Posted May 6, 2015 Share Posted May 6, 2015 The cowboys voted left?? Surprisingly to the rest of Canada, yes. Link to comment Share on other sites More sharing options...
TimberWolf Posted May 6, 2015 Share Posted May 6, 2015 Hahaha, yes, the NDP will be a corruption free government. Say goodbye to corruption Alberta, you have nothing but honest and translucent government related affairs now. Link to comment Share on other sites More sharing options...
Hugor Hill Posted May 6, 2015 Share Posted May 6, 2015 Surprisingly to the rest of Canada, yes. So cowboys are pinkos now? Link to comment Share on other sites More sharing options...
NuckFanLivingInCalgary:( Posted May 6, 2015 Share Posted May 6, 2015 Energy sector down 3.5% on the TSX Link to comment Share on other sites More sharing options...
Warhippy Posted May 6, 2015 Share Posted May 6, 2015 Energy sector down 3.5% on the TSXabsolutely insane. The oil companies and speculators have their collective panties in a twist because the free ride is over. At worst Notley will reset royalty rates and corporate taxes to the levels they were when Klein first took power. He then resided over some of Alberta's mist prosperous years. When corps investors and speculators cry. The people win. Link to comment Share on other sites More sharing options...
Ghostsof1915 Posted May 6, 2015 Share Posted May 6, 2015 Alberta "Had" the oil before the revolution of Hydraulic fracturing. Oil is now heavily abundant globally. May it be short term or not, there isn't much time for experiments. Anyone who has been watching the Q1 results of the energy sector the past few weeks knows they aren't making any money at these depressed oil prices. Precision drilling for example, reported a 76% reduction of profit in comparison to last years Q1 results. Tacking on corporate tax and Adding royalties at these current oil prices is no joke. These companies aren't interested in feeding the middle class, they are interested in feeding their shareholders. After a windmill is up and running it employs at best 5 people a year per windmill, he'll call it 10. A drilling rig is more like 60 people a year directly, indirectly who knows. Clean energy is great, but it doesn't employ a lot of people once in place. Its extremely expensive to implement the new infrastructure and workforce. All of these leaps in green energy will add pressure to oil. Could be tough times ahead. Our dollar is directly linked to the price of oil, some of the darkest days in Canada are all correlated to depressed Oil prices. I am open for change, but there must be balance. Oil isn't as hard to find these days and technology is only making it easier. We don't have that hand to force on oil companies today. Something does need to be done about the boom and bust. A big part of that should be clean energy. I just hope the transition is a careful one. One big difference. The 60 guys hired to drill oil have jobs until the oil is there. Once it runs out. Off to the next hole. Those 5-10 jobs in the windmill. Guess what those are long term jobs. After 20 years, another windmill gets build/or refurbished. Those are sustainable, long term jobs. That's the direction industry needs to move to. Link to comment Share on other sites More sharing options...
Ghostsof1915 Posted May 6, 2015 Share Posted May 6, 2015 Meet the new boss. Same as the old boss. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.