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Calgary & Alberta Economy

Dumdriver, please tell us how you feel about the banks now.

Company I work for announces layoffs and reduced hours today. I think I am ok as it seems the guys being let go have all been informed already. Hoping things can pick back up in the new year a bit.

We have lots of bids that have been approved but projects on hold. Not sure which projects are affecting us but we were hiring up until a couple weeks ago even.
 
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We are commercial a/c-heating. Smallish company now a small company lol. Had 16 guys I think but down to 10 now. Big hit. Some guys are in school now for their apprenticeship and they were informed we do not have enough work to bring them back right away, 2 guys are going to school in January and they were let go early with no guarantee to come back and 1 guy that I know of just let go but he had only started with us 8 weeks ago I guess.

I’m going to school at the end of Frebruary so really hoping they don’t hire one of these guys back at that time and leave me out.
 
Dumdriver, please tell us how you feel about the banks now.

Company I work for announces layoffs and reduced hours today. I think I am ok as it seems the guys being let go have all been informed already. Hoping things can pick back up in the new year a bit.

We have lots of bids that have been approved but projects on hold. Not sure which projects are affecting us but we were hiring up until a couple weeks ago even.
One never likes hearing of layoffs. Hopefully the reduced hours saved a few of the layoffs. My former company had gone to a furlough program (mandatory unpaid vacation day once a week) and it did help in keeping the layoff numbers down. I would like to see more companies go that route rather than the direct layoffs.
 
We are commercial a/c-heating. Smallish company now a small company lol. Had 16 guys I think but down to 10 now. Big hit. Some guys are in school now for their apprenticeship and they were informed we do not have enough work to bring them back right away, 2 guys are going to school in January and they were let go early with no guarantee to come back and 1 guy that I know of just let go but he had only started with us 8 weeks ago I guess.

I’m going to school at the end of Frebruary so really hoping they don’t hire one of these guys back at that time and leave me out.
Thanks for sharing. Best of luck with school. I've been fortunate to not feel too much pain so far with the recession (haven't been completely unscathed), but I am nervous for what 2019 will bring. Stories like this aren't filling me with confidence: https://www.cbc.ca/news/canada/calgary/creb-real-estate-stats-calgary-sluggish-market-1.4930221
 
Single family home builders started 2018 with cautious optimism. Housing starts for most were actually up over last year until summer came and things took a nosedive.

https://globalnews.ca/news/4724606/alberta-home-builders-cut-jobs/

Eastern Canada is still consumed by the 2500 GM jobs that will be lost (not for a year yet) in Oshawa. Barely an acknowledgement that our energy industry has been devastated, and is now having a trickle down affect to other industries.
 
http://www.rcinet.ca/en/2018/11/21/...-interprovincial-trade-at-summit-in-montreal/

The upcoming First Minster'e meeting will be focused on the economy. Trudeau's (who is the chairman) priorities seem to be:

1. Integrating the economies between provinces
2. Enabling indigenous people to better participate in the economy.
3. Energy?? ... does not seem to be a priority for this meeting.

Maybe something will change between now and Monday ... or as we have become used to with this government ... probably not :rolleyes:
 
Pushing energy should get 'somewhere'. How about starting with no imports of energy from other countries.
This is the explanation I've heard. The issue being WCS is cheaper than foreign oil, but only by $10/bl give or take, and the expense to ship down east doesn't make it feasible. Today with the price difference it would make sense, but firing up the infrastructure to do so is too expensive unless long term. Maybe it'll happen who knows?
 
Outside of Alberta and Saskatchewan, the political will to grow our energy industry, domestically and internationally, has been missing. The 'will' also includes providing the necessary infrastructure ... pipelines. All I know is that when the Liberal government came into power in 2015, there were four major pipeline projects in various stages of limbo after many years of planning and regulatory hurdles.

1. Northern Gateway - received regulatory approval & PC gov't approval - since cancelled by the Liberal gov't
2. Keystone XL - not approved by Obama gov't, then approved by Trump gov't - now tied up in U.S courts. No fault of the Liberal gov't but I have not heard of any efforts being made by this gov't, to try and overcome this hurdle. Was there even a serious reaction from them?
3. Energy East - cancelled by TransCanada Pipelines because the political will to support it was absent both federally & provincially (Ontario & Quebec)
4. TMX Expansion - approved by the Liberal gov't - almost cancelled by Kinder Morgan because of the long delays caused by the B.C. gov't - purchased by the Liberal gov't - construction halted by the Supreme Court awaiting further consultation with indigenous groups and I guess .... some whales!

Here we sit, heading into 2019 and we have no additional pipeline capacity from any of these major projects. What other country in the world would allow this to happen to an industry that is so vital to its' economy?
I know ... a country that lacks a vision that all governments, federally and provincially, share in and agree upon. However, that would take leadership to accomplish. Sadly, that is what is missing from government today.

That will end my diatribe on this subject .... I feel better now!:D
 
placing the blame at the governments feet when it the courts is a bit disengenuous for gateway and trans mountain.

The government is pushing hard to get tmx done - way more than the previous government did to get gateway done. Being loud does not equal action. The previous government was good at being loud, and good at trying to help but having their changes thrown out. It didn’t get us anywhere. I don’t get the appetite for more of the same of that, almost like there has been a collective forgetting of those failures.
 
To his credit, Trudeau has now added energy/oil price crisis to the agenda of the First Ministers meeting after receiving a joint letter from Rachel Notley/Scott Moe. Other provinces (Manitoba & New Brunwick) were calling for it as well.
 
placing the blame at the governments feet when it the courts is a bit disengenuous for gateway and trans mountain.

The government is pushing hard to get tmx done - way more than the previous government did to get gateway done. Being loud does not equal action. The previous government was good at being loud, and good at trying to help but having their changes thrown out. It didn’t get us anywhere. I don’t get the appetite for more of the same of that, almost like there has been a collective forgetting of those failures.

Except for the part where Gateway was actually passed by the previous government and was ready to build but Trudeau vetoed it after he was elected. I work in oil and gas and the general perspective is that Trudeau is killing this industry.
 

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