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Urban Development and Proposals Discussion

lot's of experienced commodity traders that I take trade ideas from are betting on $200 Oil by next year! Oil companies will have to invest in new projects to get rid of cash as they can only pay so much into dividends and into shares buybacks.
O&G companies will pay off debt, buy back stock and raise dividends. In effect, they will move towards going private to be more resilient to supply side climate activism. Shareholders will likely do extremely well. Job seekers, not so much
 
O&G companies will pay off debt, buy back stock and raise dividends. In effect, they will move towards going private to be more resilient to supply side climate activism. Shareholders will likely do extremely well. Job seekers, not so much
Job seekers will do okay, but it won't but like other boom times where jobs were growing on trees. My wife is recruiter, and she's been seeing a steady increase in requests, especially since the beginning of Sept. Part of it is due to the ending of summer holidays, but it's much more than last September or the ones before that.
 

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Pretty cool. The original one in Martindale is definitely super busy during peak times. I really hope they can build a small Sikh Temple in the Beltline or downtown area with a Langar hall. For those who don't know, a Langar hall is where a wide variety of vegetarian food is served to anyone (regardless of their religion, creed, caste, etc.). You can go in and eat as much as you want. Don't pay a single penny. Would be really nice to have one in the Core where it would be accessible for the homeless. Plus I'll finally be able to convince older Sikh immigrants like my mom to finally move out of the NE and into the inner city.
 
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Pretty cool. The original one in Martindale is definitely super busy during peak times. I really hope they can build a small Sikh Temple in the Beltline or downtown area with a Langar hall. For those who don't know, a Langar hall is where a wide variety of vegetarian food is served to anyone (regardless of their religion, creed, caste, etc.). You can go in and eat as much as you want. Don't pay a single penny. Would be really nice to have one in the Core where it would be accessible for the homeless. Plus I'll finally be able to convince older Sikh immigrants like my mom to finally move out of the NE and into the inner city.
Sikh's are great. Someone should let them know about modern software though, this looks like it was done in the Sims.
 
lot's of experienced commodity traders that I take trade ideas from are betting on $200 Oil by next year! Oil companies will have to invest in new projects to get rid of cash as they can only pay so much into dividends and into shares buybacks.
O&G companies will pay off debt, buy back stock and raise dividends. In effect, they will move towards going private to be more resilient to supply side climate activism. Shareholders will likely do extremely well. Job seekers, not so much

Yeah, if do they invest, unfortunately very little new exploration will be done in this part of the world as the political environment in North America is pretty toxic these days (although let's see if opinions change when energy prices reach eye-watering levels...and stay there). Global oil demand and use of fossil fuels will not be going away any time soon, as demand is just being transferred over to Asia and Africa, as those regions are eating up any energy supply they can as they continue to raise their standards of living. Calgary and Canada could of course take advantage of all this, but I'm sure we'll continue to shoot ourselves in the foot.
 
Yeah, if do they invest, unfortunately very little new exploration will be done in this part of the world as the political environment in North America is pretty toxic these days (although let's see if opinions change when energy prices reach eye-watering levels...and stay there). Global oil demand and use of fossil fuels will not be going away any time soon, as demand is just being transferred over to Asia and Africa, as those regions are eating up any energy supply they can as they continue to raise their standards of living. Calgary and Canada could of course take advantage of all this, but I'm sure we'll continue to shoot ourselves in the foot.
Yep ... my sentiments exactly. The political and activist environment has killed any appreciable investment in fossil fuel expansion in North America. As I have been stating in the Economy thread, here is our opportunity to help pay down the massive debt incurred from COVID programs etc. through increased exports of fossil fuels. The Middle East and Russia who have no such scruples, will be waiting in the wings to fill that demand.
Foot .... shot!!!
 
Yeah, if do they invest, unfortunately very little new exploration will be done in this part of the world as the political environment in North America is pretty toxic these days (although let's see if opinions change when energy prices reach eye-watering levels...and stay there). Global oil demand and use of fossil fuels will not be going away any time soon, as demand is just being transferred over to Asia and Africa, as those regions are eating up any energy supply they can as they continue to raise their standards of living. Calgary and Canada could of course take advantage of all this, but I'm sure we'll continue to shoot ourselves in the foot.
Yep ... my sentiments exactly. The political and activist environment has killed any appreciable investment in fossil fuel expansion in North America. As I have been stating in the Economy thread, here is our opportunity to help pay down the massive debt incurred from COVID programs etc. through increased exports of fossil fuels. The Middle East and Russia who have no such scruples, will be waiting in the wings to fill that demand.
Foot .... shot!!!
Do you honestly think fossil fuels are a good idea?
 
Do you honestly think fossil fuels are a good idea?
For the time being yes. May as well take advantage of it while we transition. Emerging markets are going to get it from somewhere, may as well be from one of the most environmentally and socially responsible jurisdictions on the planet. If not that money just goes to producing countries that couldn't care less about emissions, spills, waste etc.
 
Do you honestly think fossil fuels are a good idea?
I don't think fossil fuels are a good idea, but whether we like it or not they'll be in use for a while yet, and it would be in our best interest to take advantage of the situation. If Canada suddenly decided to stop producing oil, nothing would change for the rest of the world, except that nice countries like Russia, Iran, Saudi Arabia, etc. would be a bit richer.
If it were up to me I would have a green energy tax on each barrel of oil. Nothing major, maybe 1-2% tax or something, and the money would go exclusively to green energy research.

As far as an oil boom happening, I'd prefer that it didn't happen. I'd like to see the price of oil sit at a decent price so the industry can stabilize and avoid more layoffs etc. but Calgary feels like it's on a good track for diversification, and I'd hate to see another oil and gas boom sidetrack that.
 
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Do you honestly think fossil fuels are a good idea?

Considering we owe our entire modern standard of living to the rise of fossil fuels, and they are entwined in almost every single aspect of our lives...from plastics, food production, construction, computer chips, medicine, and pretty much every industry in the world....yeah, I'd say fossil fuels are a decent idea and we should consider keeping them around. Hell just this week we hear news of food production being affected because fertilizer prices have shot up due to low natural gas supplies. You and I can probably weather higher food costs, but for many parts of the world who spend half their income on food, that can and will be politically destabilizing and literally life-threatening.

Now that doesn't mean that we don't pursue new technologies, or we can't wean ourselves off in certain ways (like reducing our dependance on coal and relying more on nuclear for our energy needs), but we need to step back and understand that nothing on this planet happens without resource extraction, and that will not change. Even if you're 100% into renewables, you need to realize that a massive amount of fossil fuels and resource extraction goes into building, maintaining, and replacing those machines (because while the wind might be renewable, the turbines sure aren't). You don't have steel without thermal coal, you don't have wind turbines without plastics or cement, you don't have batteries without mining operations to supply us with metals, you don't have mass electric car adoption without a massive upgrade to the electric grid.

I think we can all agree that the pursuit of cleaner energy is a worthy cause, but let's at least be realistic about it, and understand that life as we know it does not exist without fossil fuels and minerals. As Canadians, we can either take advantage of that reality, and continue to enjoy the security, prosperity and sovereignty they bring, or we can cede control over to other countries with much lower environmental and human standards, but who understand the realities of human existence.
 
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It all comes down to balancing things out. I think we all agree fossil fuels aren't good for the planet, and the general trend worldwide is to go away from them towards green energy - a trend I agree with. That said, the reality is that fossil fuels are a dynamic commodity and the taps run at the volume of the demand, world-wide demand. It's a worldwide issue that needs a world wide solution.

I like Chinook Arch's idea of a green energy tax of some kind. It would be a win win situation. We get the benefits from oil and gas revenues, but we are also helping to be part of the solution. Not an exact comparison, but Norway for example has heavily subsidized the use of electric cars (50% of all cars sold there last year were electric) but the subsidy is really made possible because of oil revenues. Canada could become the world leader in Green energy with a steady stream of revenue that came from oil.
 
Do you honestly think fossil fuels are a good idea?

I don't think the question about whether fossil fuels is a good idea is actually relevant from a local Calgary perspective. I think the important question is actually: do you honestly think building an economy and culture based on the extraction of fossil fuels is a good idea?

Because that seems like a terrible idea to me. Any resource economy is prone to booms that jack up prices and busts that leave offices empty. But fossil fuels -- maybe the world will be using more aluminum or steel or wood 50 years from now, and maybe it'll be using less. But 100% the world is going to be using less oil 50 years from now. BP's most recent energy outlook has oil demand with a flat peak in 2025 and a decline steepening after that; it also notes that high carbon intensity oil will drop the most -- and Alberta oil is some of the highest carbon intensity in the world. (That is from their business as usual scenario; the rapid transition scenario has much stronger trends, with renewables passing oil in fifteen years).

Not only is it a bet on a declining market, it's a market that is becoming less and less appealing to people. If Alberta is going to move on from getting money out of holes in the ground -- and the holes will stop producing money eventually -- it will do so through the intelligence, creativity and hard work of it's people, and from attracting more creative people to come here to build new industries. And the more we define ourselves as being an oil place, the more people who realize that the world is entering a climate crisis will stay away. The recent UCP inquiry-slash-farce into Anti-Alberta activities takes the stance that Alberta and oil are one and the same; in fact 93% of our workers work in another industry besides the extractive ones. The myth of Alberta as a conservative petrostate is deeply repellent to a lot of people, and we can't afford to turn away and drive away that talent. An Alberta that dug up every drop of oil the same, but never went around peacocking like it was some great accomplishment rather than a necessary evil would be substantially more diverse and economically sustainable.

Oil is a commodity -- people use the oil they can get cheapest. But people are unique; they have values and make decisions based on those values. And we need to be on the right side of those decisions in the coming decades.

I've said it before, but when I think of industry cities after the industry goes away (like it will here), I think of Pittsburgh after steel and I think of Detroit after auto manufacturing. Pittsburgh used industry money to build educational institutions and medical centres and is thriving again as a high technology centre; Detroit spent the time getting angry about foreigners and has declined to a husk.
 
Considering we owe our entire modern standard of living to the rise of fossil fuels, and they are entwined in almost every single aspect of our lives...from plastics, food production, construction, computer chips, medicine, and pretty much every industry in the world....yeah, I'd say fossil fuels are a decent idea and we should consider keeping them around. Hell just this week we hear news of food production being affected because fertilizer prices have shot up due to low natural gas supplies. You and I can probably weather higher food costs, but for many parts of the world who spend half their income on food, that can and will be politically destabilizing and literally life-threatening.

Now that doesn't mean that we don't pursue new technologies, or we can't wean ourselves off in certain ways (like reducing our dependance on coal and relying more on nuclear for our energy needs), but we need to step back and understand that nothing on this planet happens without resource extraction, and that will not change. Even if you're 100% into renewables, you need to realize that a massive amount of fossil fuels and resource extraction goes into building, maintaining, and replacing those machines (because while the wind might be renewable, the turbines sure aren't). You don't have steel without thermal coal, you don't have wind turbines without plastics or cement, you don't have batteries without mining operations to supply us with metals, you don't have mass electric car adoption without a massive upgrade to the electric grid.

I think we can all agree that the pursuit of cleaner energy is a worthy cause, but let's at least be realistic about it, and understand that life as we know it does not exist without fossil fuels and minerals. As Canadians, we can either take advantage of that reality, and continue to enjoy the security, prosperity and sovereignty they bring, or we can cede control over to other countries with much lower environmental and human standards, but who understand the realities of human existence.
Nailed it !
 

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