December 18, 2016

Oil and gas industry picks up — but not in Alberta

Holly NicholasRebel Commentator
 

Count Crescent Point, Cenovus and Husky among the oil companies that are increasingly investing capital into Saskatchewan. 

Earlier this week, Husky’s new CEO stated that the company is allotting close to half of their capital spending for 2017 in Saskatchewan, which will total over $1 billion. This decision is a transition to what they are calling “low sustaining capital operations.”

I think what the CEO of Husky is saying is they’re transitioning to low sustaining capital operations in the neighbouring province now because currently, the potential for operations like this don’t exist in Alberta.

Cenovus is increasing its spending in conventional plays, while Crescent Point is allotting 75% of their spending to projects in southwest Saskatchewan and the Williston Basin.

Saskatchewan doesn’t have a carbon tax, has a slightly lower corporate tax and the business environment is less tumultuous and more friendly so these companies prefer to invest their money and create jobs next door.

Even before the carbon tax hits, the NDP are driving jobs away to our neighbours.

Imagine what a blanket carbon tax will do when our competitor, the United States, also doesn’t bring in this policy.

I have no doubt these companies will pick up and move to places that don’t have policies that work against businesses, meaning they’ll just be creating emissions elsewhere.

Unfortunately, Rachel Notley and her NDP caucus don’t realize that reality trumps their ideological plans which just don’t work.

That becomes even more obvious when we see what’s going on in Saskatchewan right now.

Comments
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commented 2016-12-20 11:58:38 -0500
Husky is doing what is best for shareholders by avoiding what is now a region hostile to resource companies, AB, for one that is not.
commented 2016-12-20 09:42:36 -0500
andrew…i worked in the oil patch during Ralph Klein’s tenure…low oil prices and all…averaged 60-70 hrs per week during that time…govt attitudes have a very large influence on when and where companies spend their money…low commodity prices are fleeting and companies know that.
commented 2016-12-20 07:10:13 -0500
Andrew Stephenson said, "A bit disingenuous to blame the government for what is probably more a consequence of a more agile resource base. "

Yes, we can blame the government.

During Ralph Klein’s time as Premier the price of oil averaged $34.76/barrel.

Ralph Klein not only brought Alberta out of debit but the unemployment decreased steadily.

If Ralph Klein could not only pull Alberta out and debt and leave us in the black but also all the while the price of oil per barrel averaged $34.76 converted to todays’ dollar value.

If Ralph can do it, then it proves the NDP are a large contributing factor to the Alberta economic meltdown.

Oil prices in relation to Premier of Alberta:
Ralph Klein (1993 – 2006)

Year | Price_ | Unemployment
____|______|_______
1993 | $27.39 | %11.36
1994 | $24.94 | %10.74
1995 | $25.96 | %9.77
1996 | $30.78 | %9.21
1997 | $27.43 | %8.42
1998 | $17.26 | %7.89
1999 | $23.42 | %8.68
2000 | $37.54 | %7.79
2001 | $30.68 | %7.03
2002 | $29.92 | %8.02
2003 | $35.55 | %7.25
2004 | $47.04 | %6.5
2005 | $60.44 | %5.6
2006 | $68.27 | %5.06
Average $34.76/barrel (todays’ dollar)
commented 2016-12-19 13:57:39 -0500
Andrew Stevenson… Please don’t comment about oil in the form of bitumen or shale anymore because you haven’t got enough basic understanding of removing petroleum liquids from the earth and how the costs are associated with it and replied to it.
What do you think you know actually makes you dangerous because you may have the ability to convince people like yourself who are grossly under informed but curious and who’s ability to extrapolate critical thought from opinion never was.!
commented 2016-12-19 13:34:56 -0500
Andrew if that was the case then why was Sask not humming along all the time? Oh sorry you are not smart enough to think that deeply.
commented 2016-12-19 13:34:07 -0500
Andrew Alberta has far more than bitumen.
commented 2016-12-19 12:37:03 -0500
Andrew and Cammie . . . have a read . . . your Socialist Paradise . . .

BOLIVAR/TACHIRA, Venezuela (Reuters) – Soldiers patrolled streets, neighbors mounted barricades and businessmen raked through damaged shops on Monday in parts of Venezuela worst hit from violence sparked by a cash shortage.

At least three people died and 405 people were arrested, officials said, in protests and looting over the weekend that followed the socialist government’s elimination of the largest currency bill.

The opposition put the death toll at five, though authorities only confirmed a man, a woman and a 14-year-old boy were shot dead in the worst-hit state of Bolivar in the south.

https://www.yahoo.com/news/troops-vigilantes-guard-streets-venezuela-unrest-152046462—business.html
commented 2016-12-19 11:49:37 -0500
Andrew . . . a devout NDP supporter to the end !
Perhaps you should check out Venezuela . . . Socialism destroyed the country . . . socialism is destroying Alberta . . . are you the last to know?
Rachel Nutley and her gaggle of social workers, bus drivers and teachers are incompetent . . . but hey I knew that before they were elected !
commented 2016-12-19 11:28:19 -0500
Sounds like shale oil vs bitumen. Shale’s not nearly as capital intensive and far more responsive to price swings, while bitumen takes a long time and has a dubious payback period.

A bit disingenuous to blame the government for what is probably more a consequence of a more agile resource base. The marginal resources are the last to pick up and the first to stop, and the oil sands are pretty much exactly that now that they’ve been so badly undercut by other energy sources.
commented 2016-12-19 09:36:30 -0500
Cameron Robock 121 jobs and 20 in brooks is that all you got ???? what used to number in the thousands in fort mac is now what 121, and you think this is a success, what do you and the destroyers consider a failure, Every time you comment you remove the doubt.
commented 2016-12-19 02:33:10 -0500
cameron…fake rebel entertainment?…is that the best a fake ndipstick can come up with?…come on…we know you’re suffering from double wifferdil inverted rectalitis, but surely you can do better than that!
commented 2016-12-19 02:22:07 -0500
Leviticus 2013 commented
“Recall legislation is a must.!!!!!!”

Apparently there is a recall legislation in BC.
Could that set precedent for other provinces?

http://www.torontosun.com/2016/10/28/its-time-for-recall-legislation-in-canada
“British Columbia introduced the tool after asking voters in a 1991 referendum if they wanted such legislation; an overwhelming majority – 81% – voted in favour.
Since recall legislation was passed in 1995, there have been 26 attempts to recall provincial politicians in British Columbia, but none have succeeded.”

https://www.manningcentre.ca/column/its-time-for-recall-legislation
commented 2016-12-19 01:01:56 -0500
Only a FAILED NDP candidate would think 121 job postings is some sort of huge success.
commented 2016-12-19 01:00:32 -0500
Cameron why is Sask gaining way more jobs than us? Oh sorry did you not actually understand the article and spouted off left wing stupidity? The price of oil excuse should affect them as well, not just Alberta.
commented 2016-12-19 00:59:09 -0500
Cameron after losing 100,000 jobs you think that is growth? And more than that were lost because of the Koch cancellation , but keep on living in socialist NDP fantasyland. That number does not even come close to replacing those who are taking buy outs. Now go listen to more media party BS. Why is it you left wing idiots scoff at a project that would have created hundreds of jobs like it means nothing , but suddenly take lots of meaning in 150 job postings? LMAO!
commented 2016-12-19 00:38:40 -0500
That maybe true Cameron but you can’t deny the NDP and the carbon tax is not making Alberta look very attractive for the investment buck and has already driven away projects from Husky and other projects as well as causing the failure of many small businesses that can no longer compete and more??
There is no denying it.!!
commented 2016-12-19 00:30:11 -0500
The 121 oil job posting on dec 1st for Fort Mac the rebel ignored. The 29 in brooks was ignored. The 31 in fox creek. And there is more. All ignored by rebel fake entertainment. Frigging stupid.
commented 2016-12-18 23:21:18 -0500
The destruction of Alberta must be accelerated.

Once there is nothing left, the NDP will run. When there’s no shit laying around, the flies tend to leave.
commented 2016-12-18 22:35:14 -0500
I guess Sask is not affected by the price of oil like Alberta somehow. Any trolls want to explain that to me?
commented 2016-12-18 18:50:32 -0500
Recall legislation is a must.!!!!!!
commented 2016-12-18 16:20:35 -0500
We must insist on Recall Legislation being entrenched in our constitution.
commented 2016-12-18 16:02:11 -0500
Kelvin G said..
“Our whole civilization was built by innovators and dreamers not to be stifled by some idealistic sycophants, yet here we are.”
-—————————-
Go to sleep just for a little while and then wake up and you have the government you deserve.
commented 2016-12-18 16:00:54 -0500
Anything and anyone who isn’t nailed down in Alberta will be forced out of the province. I assume that is exactly the result the wicked witch of the west is choreographing. I wonder how much the Saudis are paying her in money and security, to fk us over. I am dead serious. They don’t want us to fully utilize our product and they want to make darn sure no one else gets it. Trudeau will be paid in power and prestige, he can be one of the poster boys for the UN global agenda, which fits nicely with the Saudis.
commented 2016-12-18 15:34:46 -0500
Only a few short years ago Alberta was the number one jurisdiction in all of north America for attracting investment. Investment is now fleeing Alberta and businesses close and jobs disappear.
commented 2016-12-18 15:14:31 -0500
Last one out of Alberta, turn off the lights. Never thought I’d hear that one. We used to say that about Saskatchewan. Last quarter showed that Alberta lost a net 4000 residents. Not only there is a brain drain happening but a labour drain also. If Saskatchewan relents to Trudeaus imposed carbon tax, this same drain will go south to the USA if it isn’t happening already. The only thing left in Alberta will be seniors and government tit suckers. Once the technocrats are in place there won’t even be a hamburger flipping job left.

With the globalists in charge of Canada, we’ll become the pariah of freedom loving nations and lose even worse in global trade, the playing field will never be level. Falling further and farther behind in all aspects. Diversity in industry is the socialist clarion call (for now anyway), but when the best and brightest are lured away, or should I say driven away, who’s left? Big government. We all know how well these knuckleheads are at running things.

So much for mans ability to invent and explore , to reach and strive for the stars when the fat thumb of governments holds you back from the time you enter grade school. Our whole civilization was built by innovators and dreamers not to be stifled by some idealistic sycophants, yet here we are.
commented 2016-12-18 13:24:03 -0500
Time to invest in Sask real estate before the boom really kicks in.
commented 2016-12-18 12:44:13 -0500
Announcements like this from Husky only make the Alberta NDP pee their pants with excitement and unmitigated joy.

The NDP want oil and gas businesses to not invest in Alberta. Nothing makes the destroyers happier than to know their plan to destroy the oil and gas industry in Alberta is working.
commented 2016-12-18 12:26:33 -0500
Nero fiddled while Rome burned, Notley is on the fiddle all the time. She is The Destroyer of happiness for the People of Alberta.
Your turn will come PPM Notley and like Trudeau, I wish you, a Miserable Christmas.