Alberta economy is about to nosedive...

The booming days of Alberta are not over yet but are getting uncomfortably close to the end.
Give it another 2 to 3 years and indeed the boom will be over.
Once Americans are out of Afganistan that's when the world economy will start choking.

Hey big nuts squirel, So we all know Alberta oil is full of Sulphur and because of extra processing costs to remove the sulphur, Alberta oil is worth half and a bit of west texas crude....ponder this, if you think the oil side of the o/g industry in alberta is so stable and productive then why our we (the gas side of the O/G industry) going bezerk drilling $15 000 000 horizontal wells with multi fracs trying to go after liquids???? Why do we spend so much money trying to recover condensate? Light oil? Because our oil sands oil is just about boarderline profitable. One hickup and you white color desk jockies that send guys like me new procedure and usless form after another are going to be demanding the Phillipinoes go home, you will want the job making sandwhiches at subway.
The us is our market for oil, they have a horrendous amount of oil in the us!

why? --- is the price of oil going down to $70.

BTW---gov, always overspend
and as long as the government lets the private sector get the oil and stays the hell away from any important efficiency decisions, there is not going to be any bust in Alberta

So your argument is that our oil will become worthless?

Calgary is a nothing burger because we don't have property or a means to feed ourselves?

You live in Grand Prairie, it's no fucking wonder you can't afford a 70k ski boat.

15 years in the oil and gas industry (probably a rig pig) doesn't make you an economic savant. I'm not saying that there won't be hiccups (that being said, they won't be in the near future) but it sounds like you're expecting a total collapse. That's unrealistic and shows that you're the "r'tard" in this case.

I agree that eventually we will need to find new markets for our oil, but that's a long ways down the road.
The US is at least 25 years away from becoming energy independent.

Once the new pipeline is completed, production will skyrocket.

" As of November 2011, the 101 oil sands projects in Alberta were producing about 1.3 million barrels of oil a day. Once new projects come on stream, production will increase to 3.5 million barrels a day in 2020 and 5 million barrels a day in 2030, oil industry executives say."

bank of canada balance sheet has been quietly growing, trying to catch up to other central banks
[link to www.zerohedge.com]

Our coal mines are slowing down in Alberta.

It's becoming too expensive too mine it as well as coal isnt fairing well in the market.

Sorry to seeyoureheadedwhereweare going.

The downgrade is the result of Canadians borrowing less.
We were in over our heads and now our credit rating is taking a hit for the correction.

The banks will take a profit hit as a result of Canucks paying down their debt.

if the price of oil stays where it is or goes up things should be ok. the housing market is retarded all across canada you should see the prices in downtown vancouver and toronto.
keystone is back on
the oil in alberta and the industry in ontario is what fuels the canadian economy. newfoundland has a lot of oil too. pretty much all the oil goes to the usa at discounted prices, still high enough to keep even the oilsands going

Let me guess, your from ontario?
Fucking assclown!

Hey EAT, the best part about it is that even if calgary were to fall, we would still be better than the ignorant, dirty smelly city know as Edmonton!

Yup, all true..

Where did I write our oil will be worthless? Everything has a value. Gas will ALWAYS be in demand unless our buildings built in this frozen land of ice and snow are converted to another source for heat other than methane. Yes Calgary is a nothing burger you produce nothing, half the jobs in the sky rises are not required. It is the people at the wellheads that are responsible for the production. they are more likely to be employed in another collapse as in 08 when Encana and other's were doing mass layoffs. Yes if you do not have property and skills to grow food and produce things in a rural setting you will turn to canabalism. As the people in the cities like calgary can no longer put gas in the BMW suv's to get to banff they will turn to a bankrupt goverment for assistance, they will turn on each other. There is always a truth to repetative conditioning, why do you suppose we keep getting bombarded with a Zombie theme of chaos from various government bodies. You city folk are brain dead living in a fantasy world always competeing with each other for useless crap.

Please explain your comment about gp and no fucking wonder I can't afford a $70 000 ski boat, You brain dead comment varifies my point of you city folks wantingand collecting usless junk. Do you have a $70 000 ski boat? You speculate I'm a "rig pig" So what do you do Poindexter? let me guess you put together erp's or are a safety advisor for a company like Conoco? Nervous much?

You are aware that "rig pigs" make between $140 000 and $250 000 a year. I am not a rig pig and know that my common position in the field pays $40-$50000 more a year than you office jockies.

YES that is correct R'tard! a total an utter economic collapse for Alberta. We have nothing else but farming here in Alberta. It will be a cut throat society. Those $70 000 ski boats will be a dime a dozen. My rural brethran will trade you a 25 lb sac of potatoes for an hour with your silicone chested and tatooed wife in the back seat of your imported 400hp SUV.

Nah I'm Alberta. And point proven.

My husband works in the oilfield (not as an office jockey either LOL) and exploration is slowing down substantially.

He's been busy as he has many years experience BUT there will be lots of toys up for sale come spring by these young guys that couldn't hang on to the money they were making.

Having gone through patch slow downs a few times this one could be far worse than any previous.. If people were smart they would only buy what they need and put money away but they won't. Guess they will learn the hard way!

As long as yall continue to roll out that Crown Royal, yall are ok in this texas guys book!!! Go Canada!!!!

the boom will eventually move to manitoba

there's loads of oil here, it's just not being exploited yet.

north dakota is already slant drilling into our deposits, but we've much more than what they can reach.

they're just waiting. give it 15 years or so.

Last Edited by Mordier L'eft on 01/29/2013 09:18 PM

The trend last year was the main work in the patch was servicing and cleaning up existing and abandoned wells with very few new leases being built, not in every area but overall. Fox Creek is enjoying a little boom but 10 other locations (like FtMac) were finished their summer work projects in September rather than December as it was the year before.

That $500k house was probably only worth $250 anyway.

You can keep her for a 10lbs sac.



And no, I'm not an office jockey so I little to fear from mass layoffs. The money is in Calgary and since I run a trade business, business is booming. I respect the rural lifestyle and see myself moving away from the city in the near future, but the reality is that this is the land of opportunity and why not take advantage while the getting is good? The utter economic collapse you're so sure of isn't anywhere in the foreseeable future. Cannibalism however, is already quite popular and gaining momentum.

Well said.
Redford looks scared. She will be looking under every couch in Alberta to scrounge for money now.
China is going to pour big money into the massive new Australian oil field and laugh at Alberta now. Our oil is dirty and expensive and far away from China compared to what Australia has to offer now.
Calgary is FULL of speculators. Real estate prices there are just plain stupid. The work force there are pencil pushers and white collar sushi eaters. Edmonton's work force are blue collar and very essential. We are a meat and potato city and proud of it. Big Ukrainian, Polish and German roots here with a strong work ethic and a survivalist mentality.
Edmonton has great natural resources, most importantly the North Saskatchewan river that flows thru the city. Calgary has the tiny little Bow river as their main water supply.
People overspent here in Alberta and did not plan for the bad times. The feast is over and it's famine time... and if you did not save for the rainy days ahead... well...you are in trouble.

The only thing that will save Alberta now are a massive middle east war that shoots the price of oil sky high... or a subduction earthquake on the west coast that forces Vancouverites to move out of BC.

I wish Alberta would have diversified better when the going was good... oh well.