Posted on Jan 16, 2016
Have anyone in your family or you, have been affected by the loss of jobs due to the falling price of oil?
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Low Oil Prices - history channel documentary - Oil Price - Oil US - Oil Price Trends
Low Oil Prices - history channel documentary - Oil Price - Oil US - Oil Price Trends https://youtu.be/lX1jn_ViAgw I created this video with the YouTube Video...
https://www.youtube.com/watch?v=lX1jn_ViAgw
Both the stock markets of Canada and the USA had a major correction since the new year. The Canadian Dollar was 93 cents of a U.S. Dollar 15 months ago. Yesterday,it was at 69 cents. The Alberta Provincial Government has used up its 5 billion dollar surplus in 2015 and oil royalties are down about 70%. How has it affected you?
There are large job losses in Canada especially around the oil sands area. I have heard my boss talk about a neighbor who is selling his house, his boat and new car and looking for work after losing his job in the oil industry. Have you seen the same in Texas, North Dakota or elsewhere were there was an oil boom until recently? We could buy oil from Canada instead of countries like Iran and Saudi Arabia that execute people like we eat cookies.. Let us hope the next administration works with Canada to lay the ground work for approving a pipeline since prices will eventually go up once most oil companies shut down production and prices stabilitze. In the meantime, human suffering in the energy sector and this will affect car dealerships, real estate markets and the general economy. What are your thoughts?
Both the stock markets of Canada and the USA had a major correction since the new year. The Canadian Dollar was 93 cents of a U.S. Dollar 15 months ago. Yesterday,it was at 69 cents. The Alberta Provincial Government has used up its 5 billion dollar surplus in 2015 and oil royalties are down about 70%. How has it affected you?
There are large job losses in Canada especially around the oil sands area. I have heard my boss talk about a neighbor who is selling his house, his boat and new car and looking for work after losing his job in the oil industry. Have you seen the same in Texas, North Dakota or elsewhere were there was an oil boom until recently? We could buy oil from Canada instead of countries like Iran and Saudi Arabia that execute people like we eat cookies.. Let us hope the next administration works with Canada to lay the ground work for approving a pipeline since prices will eventually go up once most oil companies shut down production and prices stabilitze. In the meantime, human suffering in the energy sector and this will affect car dealerships, real estate markets and the general economy. What are your thoughts?
Edited 9 y ago
Posted 9 y ago
Responses: 5
Informative video, although very long. These issues have impacted our investments very heavily. Just glad I'm not under the new retirement plan.
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LTC (Join to see)
LTC (Join to see) - yes, it is dry but informative just like watching something from C-span that goes at a snail's pace.
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I live in North Dakota, and there have been thousands of layoffs over the past year. Most left the state to search for other work, but some have stayed and the transition houses are overfilled. The state has had to adjust their budget outlays several times. At least the drugs and human trafficking can finally be addressed, meaningfully.
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LTC (Join to see)
when my wife worked in the oil fields years ago, the druggies would be broke a couple of days after being off and live in the homeless shelters in Edmonton until they went back to work! This probably holds true today there and here in Canada and I bet fentanlyl and other drugs are killing many druggies that work in the oil patch. What you have told me is not surprising. It is very sad actually especially, drugs, prostitution and such.
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while I still have my job they have cut our yard from 36 employees to 20 and the drivers took a 25% pay cut. I haul the crude oil from the wells to the pipeline
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PFC Carl Willmon
overall I am in better shape than most in the area. When the price of crude oil drops companies stop drilling wells which affects the entire industry from one end to the other.
The best example I can give is 18 months ago there was over 250 drilling rigs working the region I am in and at last count I heard we have 10. As a oil well ages its production drops off so the longer we have a drilling slump the less oil we produce in this country
The best example I can give is 18 months ago there was over 250 drilling rigs working the region I am in and at last count I heard we have 10. As a oil well ages its production drops off so the longer we have a drilling slump the less oil we produce in this country
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