Oh look … about 25% of Canada's 100 highest paid executives are in the Oil/Energy industry.
http://www.canadianbusiness.com/lists-and-rankings/richest-people/top-100-highest-paid-ceos-2015/
Boo hoo.
If they're so fucking hard done by, maybe they could take a pay cut. You know, to some shitty survival income like maybe $2 mill/year.
You strike me as a man with a lot of issues…
"A fear of weapons is a sign of retarded sexual and emotional maturity."
Sigmund Freud
:canada: :usa:
I never understood why individuals were so married to a finite resource.
I see this as an opportunity to get off oil as much as we can, like investing in solar power.
You strike me as a man with a lot of issues…
If profits are being brought into the discussion we'd be pretty fucking average if we left out operating costs.
I never understood why individuals were so married to a finite resource.
Maybe because its not a finite source /abiotic troll
protect tom mcdonald at all costs
Maybe because its not a finite source /abiotic troll
Ok then, I never understood how individuals could be so invested into something that causes so much pollution. Is that better?
Gold?
Albertas incoming Premier Rachel Notley has called an immediate halt to all shredding in government departments amid allegations of documents being illegally destroyed. Cheryl Oates, a spokeswoman for Notley, says the premier-designate asked the senior civil service to impose the ban and it has promised to comply.
Oates says documents have archival value and must be preserved as power switches in the coming weeks from the Progressive Conservatives to Notleys NDP.
The privacy commissioner and Albertas public interest commissioner are investigating a whistleblowers allegations that documents were illegally shredded in the Environment Department….
I never understood why individuals were so married to a finite resource.
I see this as an opportunity to get off oil as much as we can, like investing in solar power.
Amen brother, I needs me a electric truck STAT!
"X is for x-ray. If you've been bikin' and you haven't had an x-ray, you ain't goin' hard enough." - Bob Roll
I never understood why individuals were so married to a finite resource.
I see this as an opportunity to get off oil as much as we can, like investing in solar power.
yeah…sure. Only problem is the amount of money it takes to get each one in Ontario up and running. Well, according to the guy I know working on this years big local one. It will take something like 10-15 years for it to pay it self off and make any money to make it worth it.
Oh, and then just to add in. Some of those are formerly farmers fields used to grow things like crops. But no one notices because they are not as controversial as mentioning building a wind farm or turbine.
Every form of energy is going to have drawbacks, doesn't mean we shouldn't be trying our best to get off the dinosaur juice. The answer isn't in the use of one form of alternative energy, it's in the combined, intelligent use of all of them depending on the environmental conditions of different places.
It will take something like 10-15 years for it to pay it self off and make any money to make it worth it.
Do you have any idea how long it takes for any fossil fuel or nuclear plant to pay off construction costs?
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
Oh look…
The election of the NDP government is causing energy companies to consider MORE investment in Alberta.
Ok then, I never understood how individuals could be so invested into something that causes so much pollution. Is that better?
Every form of energy is going to have drawbacks, doesn't mean we shouldn't be trying our best to get off the dinosaur juice. The answer isn't in the use of one form of alternative energy, it's in the combined, intelligent use of all of them depending on the environmental conditions of different places.
Oh look….
The election of the NDP government is causing energy companies to consider MORE investment in Alberta.
Do you have any idea how long it takes for any fossil fuel or nuclear plant to pay off construction costs?
No nuclear plants have been built in NA for a long time, so it would beer hard to tell.
Borrowing rates of 1% would help lower the cost. So would hiring workers that don't expect to buy F350s and quads with their first pay check.
It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
- Josiah Stamp
Every time I see an adult on a bicycle, I no longer despair for the future of the human race.
- H.G. Wells
No nuclear plants have been built in NA for a long time, so it would beer hard to tell.
Borrowing rates of 1% would help lower the cost. So would hiring workers that don't expect to buy F350s and quads with their first pay check.
It's amazing what you can afford when your family home costs 200,000 and you make 70-100,000. Plenty of people seem to forget when they throw that out there that the vast majority of oilfield workers live in towns like Bentley, Alberta or in Peace River, or the equivalents all over the province where life is pretty cheap.
You completely missed the point. Its not that 2% is life or death for a company, its about making sound business decisions. If you invest, you would know that 2% can be a huge amount of money over a number of years. That's why I buy ETF's and index funds over mutual funds, to save 2+% on the bloated management fees that we pay for mutual funds in Canada. 2% can make a big difference, especially over a long period of time.
Oil companies also have very small profit margins and take on huge risks compared to other industries. In 2010, large oil companies had average profit margins of 6.5%, a year with good prices ($70-$90/bbl). That same year pharmaceuticals averaged 16% profits. Oil companies make make 7 cents for every gallon sold, while the government makes 48 cents.
If that gives you heartburn, I don't suggest looking at how much apple profits off of each on of their devices you buy, you might just have a heart attack.
The sky isn't falling in Alberta, but in a time of instability such as this, oil companies need to do what makes the most business sense. Companies aren't successful by making poor business decisions, as you all know. Right now its all speculation on what's going to happen with the NDP in power, and unfortunately speculation can be worse than reality. I for one am going to see what actually happens before I say anything further.
It's already happening. It's not that projects are getting cancelled, investors are just sitting on their wallets waiting for 6 months to a year to see what the royalty review brings. Except now, in her infinite wisdom, rather than rip off the band-aide, she has decided to be a real dumb one and just let it hang out there that eventually she'll get to it in this term.
This won't have a huge effect on the large organizations. They've laid off their 20-40 000 people, they're way good now. The vast majority of exploration, however, is done by juniors. The small publicly traded (TSX.V) and privately traded organizations are the ones who can react to business climates quick enough and take the biggest risks on plays. These guys depend on venture capital to fund their businesses, and until Notely straightens her shit up and and project with certainty what the new tax structure will be, the venture capital and investment banks are clamping their funding. This means that slowly, bit by bit, companies will wither away into CCAA because they don't have the funding required to continue growth and drill out declines. Since they haven't had a chance to prove their fields, they won't sell, and their business models remain incomplete, affecting hundreds of thousands of jobs.
It's a slow roll, but it's already started, and she can stop it by getting the royalty review over with in a hurry, or assuring industry that she won't do one until prices hit XX.XX, whatever the best number happens to be.
Forum jump:
