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 2015-10-29 18:02:30 -0400
Andrew Stephenson – you don’t know what you’re talking about. You keep believing the MSM, when they are not telling the truth, but distorting it. The NDP doesn’t deserve anything but distain for their pathetic budget, that took 6-months, plus they were trying to get Tommie the commie elected, so they totally ignored the private sector, knowing full well that their archaic ideology wouldn’t allow them do the right thing here. Instead, they are just going to borrow and spend on the government, and are not even going to throw a bone to our main industry, because they are morons, and fools. The effect of this, will be similar to what happened when PET imposed his NEP on AB, and Lougheed told him to pound salt, and shut the industry down. We are going to see a repeat, due to a hostile NDP communist government. Get lost, we don’t need your BS, we already know what is going to happen, and you don’t have a clue.
commented 2015-10-29 17:52:15 -0400
Cenovus has been laying people off more or less continuously since February. This was months BEFORE the NDP was even elected. http://www.huffingtonpost.ca/2015/02/12/cenovus-layoffs_n_6668578.html

The most recent round – the one Ezra refers to – was announced on October 8. Thus, nothing to do with NDP budget.

Credit where credit is due. They lose money on every barrel when Western Canada Select is $30. Even if you forgave them from all taxation in perpetuity, they would still lose money on every barrel. To some extent they’ve been trying to wait it out, but it’s clear that that isn’t working.
commented 2015-10-29 17:37:33 -0400
More socialist goodness, i wonder who they think will pay for everything they plan to waste money on?? Maybe they will raise our taxes to 110% of what we make, that will pay for everything.