October 29, 2015

Cenovus Energy joins list of companies cutting jobs, spending after Alberta NDP budget

Ezra LevantRebel Commander

Cenovus Energy says it will be laying off more Alberta workers -- 700 people in addition to the 800 it had already laid off. It is also cutting spending by $400M.  

As I reported earlier, the day before, it was MEG Energy, and the day before that, it was Shell.

The NDP is determined to transfer money from the makers to the takers, even if it means destroying Alberta in the process.

That's how much they hate the oil and gas industry.

The NDP budget is a disaster. Over 50,000 are out of work. Investment is fleeing the province.
SIGN THE PETITION to tell Rachel Notley stop her war on oil and gas jobs in Alberta.

READ Ezra Levant's bestselling books debunking environmentalist propaganda against the energy industry:
Groundswell: The Case for Fracking and Ethical Oil: The Case for Canada's Oil Sands

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commented 2015-10-30 14:42:20 -0400
Only in Canada is it a crime to be successful!
commented 2015-10-30 14:40:56 -0400
Knock, Knock, Saskatchewan is calling. With a business friendly premier and almost the same access to oil & gas resources, they can replace all the jobs and prop up the all of the other socialist provinces through transfer payments. On second thought, why would premier Wall bother?
commented 2015-10-30 10:40:46 -0400
“Andrew then why did they stop future spending halfwit”
As before, if you’re going to bother with an insult, at least put some effort into it. 1920 called, it wants its word back.

They stopped for the same reason anybody would in tough times. Capital preservation is the name of the game. Watch what Suncor is doing, for a clue as to what’s going on (they’re making acquisitions like crazy).
commented 2015-10-30 10:38:46 -0400
“Nobody can tell me it is not the NDP’s fault that all these companies, who had scheduled work far into 2016 and 2017, are shutting down or putting things on hold to see what happens. Nobody. ’

Well, if you choose to be willfully ignorant, that’s your right, I suppose. Of course, the fact that layoffs are also happening in BC and Saskatchewan, and that Alberta’s have been ongoing on since long before the NDP was even elected, cannot stand up to partisan posturing!
commented 2015-10-30 09:48:27 -0400
My husband, who has worked in the oilpatch for over 30 years, the last 10 years being some of the best and more lucrative times, is waiting it out to see if his job even lasts till Christmas……..
Nobody can tell me it is not the NDP’s fault that all these companies, who had scheduled work far into 2016 and 2017, are shutting down or putting things on hold to see what happens. Nobody.
commented 2015-10-30 02:08:08 -0400
But Rachel Notley said she has an autographed appology from Shell for releasing their descision on the same day as the Budget … eyes rolling out of control :-P
commented 2015-10-30 00:37:49 -0400
Terry i have done pipelines in both ALberta and BC , ALberta is far stricter when it comes to the environment.
commented 2015-10-30 00:36:49 -0400
Terry Rogers, just wait until Justin has more time BC will be suffering as well
commented 2015-10-29 23:19:30 -0400
@ KENNETH LAWRENCE: I have no idea why or when the socialist movement aligned with the green movement. It makes no sense. Same with the private sector unions teaming up with the public sector unions. The public sector unions are literally destroying unionized workers in the private sector. Anyways, I know a few ‘union organizers’ making 140k a year. Drives a cadillac but takes a beat up minivan to work everyday so the workers don’t see what he’s driving.
commented 2015-10-29 22:43:04 -0400
Come on over to BC….we’re open for business.
commented 2015-10-29 22:41:46 -0400
Andrew how long will you be able to use phony excuses? You think this is a hiccup?
commented 2015-10-29 22:40:58 -0400
Andrew then why did they stop future spending halfwit? Sorry your comments are pathetic and BS
commented 2015-10-29 20:13:55 -0400
Hey Andrew,
The issue isn’t so much that there were job losses in the oil industry over the past year, it’s more that the government is adding regulation to industries that are clearly already struggling. The oil companies had already laid off the workers they needed to in order to streamline their operations, but they were still considering expansion in Alberta.
Now, as soon as the budget was released, they decided to publicly cancel their plans. Perhaps it’s a PR blame tactic, or perhaps they decided they didn’t want to obligate themselves to a province who’s government was going to make life difficult for them. I tend to think it’s the latter, but you’re welcome to have your own way of thinking about it.
I see that the oil prices fell considerably before the NDP came into power, then recovered, somewhat. The companies made their corrections (layoffs), and kept doing their work. Now they see that increased regulation and various taxes will be an extra cost to a thinner bottom line, and they don’t want to invest their money in Alberta.
But, to each their own.
commented 2015-10-29 20:06:21 -0400
I hope this gets out because it’s definitely illegal and should be investigated!
commented 2015-10-29 20:05:01 -0400
Thanks for sharing my post from yesterday. Because a few are questioning the validity of my claims, I have compiled my reference sources and am publicly posting them here. There are some additional facts within my comments on the references that might be even more damning for the Royalty Rate Review panel. Enjoy and continue to share freely, thanks.

Reference sources validating all claims made in my October 28th Facebook post ( https://www.facebook.com/george.clark.184/posts/10206819722645301 ) questioning possible Conflict of Interest between BluEarth Renewables and Dave Mowat and Peter Tertzakian.

1. Website bios for BluEarth: http://www.bluearthrenewables.com/executive-team/
2. Websites with Ontario Teachers Pension Plan and ARC Financial shareholder transactions: Note the reference to ARC as the foundational partner: http://www.bluearthrenewables.com/…/bluearth-announces-exp…/ and http://www.bluearthrenewables.com/…/teachers-private-capit…/
3: Wikipedia info for Canadian Hydro: https://en.wikipedia.org/wiki/Canadian_Hydro_Developers
4: BluEarth statements regarding the Bull Creek Alberta Schools CPC deal: http://www.bluearthrenewables.com/alberta-schools-cpc-wind…/ and http://www.bluearthrenewables.com/…/bull-creek-wind-project/
5: Not everyone was convinced that this was a good investment using Education dollars intended for building classrooms: http://www.troymedia.com/…/alberta-school-boards-education…/
6: Some school boards had to do some quick juggling and engage in questionable semantics to complete their investment in the Bull Creek project. Here is the Westaskiwin school board superintendents release justifying his decision to prepay $100,000.00 to BluEarth and commit his board to buying power from them for 25 years! http://www.wrps.ab.ca/download/30560
7: The school boards signing on to this project did so on the understanding that if it ended up not working out, they could collectively pressure Alberta Education (in other word all you taxpayers!) into stepping in to rescue them. I’ll leave the research into what role Annette Trimbee held within the Government of Alberta during that leadup to the CPC so-called independent selection of BluEarth: http://www.fortmacleodgazette.com/…/school-division-commit…/
8: Link to the damning “Tarsands” moratorium declaration signed by failed Liberal candidate and BluEarth Executive Marlo Raynold. Note that it is also signed by Justin Trudeau’s closest adviser, Gerald Butts: http://docs.nrdc.org/energy/files/ene_09060301a.pdf
9: Peter Tertzakian of ARC Financial and BluEarth CEO Kent Brown cooperating together at one of many joint public lobbying events plus another collaboration where Peter Tertzakian, Marlo Reynolds and Gordon Lambert (Climate Change panel member) assisted in lobbying on Energy, Environmental and Aboriginal future policy via a Charrette Dialogue: http://www.communityadvisoryboards.com/…/CAB-16-agenda-fina… and http://www.boldon.org/pdf/EnergyCharrette.pdf
10: In his prior role as CEO of VanCity, Dave Mowat oversaw substantial investment into BluEarth’s precursor company, Canadian Hydro. See Page 2 of the VanCity June 30th, 2009 semi-annual Canadian Equity Fund report. On June 15th, 2015, in the month leading up to his appointment to the Royalty Rates Review Panel by Rachel Notley, Dave Mowat stepped in to have ATB Financial help fund the BluEarth Bull Creek wind farm project. See reference #2 above for the big payoff 10 days later on June 25th, 2015 when ARC Financial sold their shares to the Ontario Teachers, realizing annual gains in excess of 30% per year for their five years of backing BluEarth! One day later on June 26th, 2015, Dave Mowat was appointed to head the Alberta Royalty Rate Review panel, just one day after he helped them stack the Climate Change panel with longtime environmental activist buddies like Linda Coady and Gordon Lambert: https://www.vancity.com/…/MyMo…/Investing/VC_mrfp_canequ.pdf and http://www.nawindpower.com/e107_plugins/content/content.php… and http://www.cbc.ca/…/dave-mowat-president-of-atb-financial-t…
11: And a teaser to leave you all scratching your heads: Mac van Wielingen not only founded ARC Resources and ARC Financial, he is a member of the Board of Directors of Alberta Investment Management Corporation, a provincial crown corporation responsible for managing approximately $70 billion on behalf of public sector pension, endowment and special purpose funds. An excerpt from awakendcompany.com/partners/ website:
Mac Van Wielingen
Mac Van Wielingen was a Founder of ARC Financial in 1989 and ARC Resources Ltd. in 1996. ARC Financial is a leading private equity investment management company focused on the oil and gas sector in Canada with currently approximately $4 billion of capital under management. Van Wielingen is Chairman of the Board of Directors of ARC Resources Ltd., a past and current director of numerous other companies within the oil and gas sector, and is active in various capacities in the community and the not-for-profit sector. Van Wielingen is a member of the Board of Directors of Alberta Investment Management Corporation, a provincial crown corporation responsible for managing approximately $70 billion on behalf of public sector pension, endowment and special purpose funds. Mac is also President of Viewpoint Capital Corporation, a private family-owned investment company
commented 2015-10-29 20:04:02 -0400

CONFLICT OF INTEREST!* I thought it almost criminal that Rachel Notley stacked the Royalty Rate Review panel with anti-oilsands fanatics trained by Al Gore and the Pembina Institute but I’ve now uncovered even more damning connections which suggest that the panel members Dave Mowat and Peter Tertzakian have corporate and personal connections to business ventures which stand to reap huge financial gains by forcing Alberta away from fossil fuels. Yes you read that right, the two lead members responsible for establishing Alberta’s new royalty rate regime had and have the companies that they are part of directly tied to projects and investments with the most to gain from Alberta turning away from the Oil Sands and natural gas to wind power alternatives! And just to rub salt into the wounds, they have set in motion the plan in which both Rachel Notley and the Liberal Party of Canada are complicit to ensure that the biggest benefactors of the government Climate Change policy and subsidies will be the Ontario Teachers Pension Fund and soon to be announced, the Alberta Teacher’s Association pension fund! As a citizen of Alberta, I would like a criminal investigation to begin now rather than wait until after the fact as happens far too often in cases like this. I summarize the publicly available information timeline below which shows the ties that are already in play with these manipulators looking to pull a fast one on Albertans with our resources and tax dollars for personal benefit.

A privately held company by the name of BluEarth Renewables Inc. was founded in 2010 by Kent Brown, Geoff Carnegie and Kelly Matheson-King, former CEO, Biz Development VP and COO respectively of Canadian Hydro Developers, Inc, a firm specializing in hydro, solar and wind energy projects which was bought out by TransAlta in 2009. Major project financial backing for Canadian Hydro Developers Inc projects was provided by none other than Dave Mowat, CEO of VanCity Financial! The major financial backing for BluEarth Renewables Inc was provided by : ARC FINANCIAL Trust Fund 6, whose major investment adviser was and is : Peter Tertzakian. With that support behind them for the past 5 years, they carried on securing additional alternative energy projects by heavily stacking their management team with industry insiders and environmental activists such as the federal Liberal candidate Marlo Raynolds, past Executive Director of the Pembina Institute who prior to joining BluEarth had signed in 2009 an international Declaration calling for a Moratorium on any further development of Alberta’s “Tarsands” resources! The same Marlo Raynold who openly claimed at a recent candidates forum in Banff that he was the architect and Guru for Justin Trudeau’s forthcoming national energy strategy plan! He’s BluEarth’s Executive Vice President, Market Development & People and that company has already begun to infiltrate Alberta’s wind power industry by securing major projects like Bull Creek near Provost that are arranged by Alberta Schools Commodities Purchasing Consortium (CPC) to provide taxpayer funded power purchases by several Alberta school boards. And the funding connection continues as the major funding partner for these projects is provided by none other than ATB, now headed by the very same Dave Mowat! Oh yeah, Peter Tertzakian provided his ARC Financial Trust Fund 6 with returns approaching 30% per year by selling their initial share to the Ontario Teacher’s Pension Fund this past June. I’d like to know what other investments ARC Financial and Peter Tertzakian are holding, I’d wager that none of them are oilsands related!

Absolutely everything I state in this post is easily verifiable fact. Rachel Notley has turned Alberta’s future over to a couple of men who have been financially benefiting from the environmental activism that’s destroying the Alberta Advantage. Who will join me in exposing these and the other disturbing truths I’ve uncovered before it’s too late? Please share this post and ask all your friends to share it, we cannot let such corruption continue unopposed.
commented 2015-10-29 19:57:34 -0400
Am sure Ezra you will find this very interesting enjoy!
commented 2015-10-29 19:53:24 -0400
Today’s NDP is not your father’s NDP. I should say grandfather’s NDP. Believe it or not, I was once a member of that NDP. That was a party that believed in JOBS FOR WORKERS and their families. NOT ANY MORE. THE LUNATIC LEFT NUTS who have been conned into believing Al Gore and David Suzuki are prophets have taken over the NDP.

commented 2015-10-29 19:46:22 -0400
KICKED TO THE CURB! The lunatic left is running Alberta into the ground, deliberately destroying the oilsands jobs that were the livelihood of many thousand of Albertans. That’s thousands of Alberta families KICKED TO THE CURB by the very government whose job it is to protect those jobs, not destroy them. But not when the LUNATIC LEFT NDP is in power. This goes beyond bad management. It is DELIBERATE SABOTAGE of Alberta’s economy by the NDP!
commented 2015-10-29 19:28:54 -0400
The correct approach would have been to give them a tax holiday during these difficult times, and make it back later.
But Era’s right, these ppl despise the oil sands and want it phased out, sooner rather than later! Even with no alternative in place. Fucking stupid cunts!!
commented 2015-10-29 19:18:52 -0400
Andrew said, "It was Prentice who raised income taxes,’

No he didn’t. He proposed a series of taxes and that was one of them, but he never brought in a budget because he called an election. Prentice in part lost because he was going to raise taxes and create some new ones and the people did not like that, so now the NDP that you are in love with are doing the same and much more than Prentice was going to.
commented 2015-10-29 19:14:27 -0400
Our resident NDP apologists, Andrew Stephenson and Kelly Weber certainly are going at it full boar!

Yup, in their pathetic little minds it is all the price of oil the reason why the job losses and companies pullin out investment from Alberta or postponing investments. Yup, all because of oil prices and nothing else … … except a few problems in their arguments:

1) if it is only because of low oil prices, then why are companies like Sell pulling out their money from Alberta and investing elsewhere? Is not the oil price per barrel in Alberta not the same as it is anywhere else in the world? Of course it is. So, if they are pulling investment out of Alberta then it must be because of some other reason, so what could that be? The NDP.
commented 2015-10-29 19:03:34 -0400
“Andrew Stephenson – you don’t know what you’re talking about. You keep believing the MSM

What is there to believe? That oil companies were laying people off even before the election? Seriously…

I mean, half the reason the NDP got elected in the first place was frustration over mismanagement of the energy file. It was Prentice who raised income taxes, and was on track to table a 5+ billion deficit.

Or are you still going to ramble irrelevantly about “MSM”? Facts are not subjective.
commented 2015-10-29 19:00:49 -0400
No other word describes what the NDP are doing here than sheer vandalism! These people are have got to be deranged? I never have seen anything as ass backwards as these Environmentalists’! Not a lick of common sense!
commented 2015-10-29 18:55:02 -0400
meg is not done with layoffs, no one is, the east will have to fund there own socialist programs as alberta is flat busted we have nothing left to steal. No projects or jobs in alberta for 3.5 years no one will spend a dime here till the ndp is gone.
commented 2015-10-29 18:48:44 -0400
New rule – everyone in Alberta works for the government. There, all fixed for Notley.

Ouch, it’s getting FUGLY for Alberta.
commented 2015-10-29 18:36:47 -0400
I predict that Alberta will go bankrupt by the end of the NDP term. I wonder where the provintial NDP and federal Liberals will get all their tax dollars for all their social programs now that the evil oil companies are withdrawing their investments and shutting down businesses. What were the Albertans thinking. If it was a protest vote the what was so wrong with the Wild Rose party
commented 2015-10-29 18:14:15 -0400
I heard about that Kevin. What was the RNC thinking going on an extremist network like MSNBC? That network is a joke. Instead of asking real questions they dwelled on gotcha moments. While their Democratic debate was a love in.

No doubt the oil price is a factor, but the NDP budget (and entrance of Trudeau) is and was the last straw. One segment that will love Trudeau though will be all the ChiComs. If you support Canada being flooded with cheap, dangerous, and low quality Chinese goods, and make money off that, you will love Trudeau.
commented 2015-10-29 18:09:12 -0400
Yes, I believe everything thing that the huff post says to be true and well researched. Watched the GOP debate done by msmbc, the crowd started booing the MSM moderators for asking the dumbest questions it is said that last night was the start of an uprising against the biased liberal media. My only hope is that it will finally spill across the border into this country and run these lying rat scum bastards out of the media industry.