1.6 B bailout for oilpatch companies

Re: 1.6 B bailout for oilpatch companies

Postby Mordu » Dec 20th, 2018, 9:01 am

Here's what Drayton Valley business owners think of the bailout.

http://globalnews.ca/video/4775767/some ... th-of-debt

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Re: 1.6 B bailout for oilpatch companies

Postby Mordu » Dec 20th, 2018, 9:06 am


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Re: 1.6 B bailout for oilpatch companies

Postby Mordu » Dec 20th, 2018, 11:05 am

Here’s the gateway to the first billion.

“EDC earmarks $1 billion to aid Canadian oil and gas companies”

And here’s a joke.

“Build infrastructure to increase global market access to Canadian resources.”

Want to form a company to build a dirigible fleet with world-wide landing pads to transport oil and gas?

I know what’s lighter than air and where to find an inexhaustible supply.

http://www.edc.ca/en/article/oil-gas-support.html
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Re: 1.6 B bailout for oilpatch companies

Postby Jonrox » Dec 20th, 2018, 11:42 am

"You suck. We need money."

"We don't need this money. You still suck."

Some people will complain about PM Trudeau no matter what he does. It seems nothing short of creating thousands of jobs that all pay over $50/hour will be good enough.

I voted for PM Harper up until the last election. Then I voted for PM Trudeau. I'll likely vote Conservative again in the next election... but part of me is going to do it just to see the Trudeau critic's responses when they realize the PM, no matter who it is, can't fix things instantly with the snap of his fingers.

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Re: 1.6 B bailout for oilpatch companies

Postby Mordu » Dec 20th, 2018, 2:25 pm

I agree with what you are saying, and this article does a good job of explaining the full measures that Ottawa is willing to take . . .,

“Government of Canada Announces Support for Workers in Canada’s Oil and Gas Sector”

https://boereport.com/2018/12/18/govern ... -sector-2/

But I don’t see where this support covers off the millions of dollars’ worth of assets, mostly equipment, which is depreciating and / or is still subject to financial payments and is lying dormant in just one of many Alberta communities because it's specialized towards serving the present energy infrastructure.

Again, here’s what it’s like for businesses in Drayton Valley:

http://globalnews.ca/video/4775767/some ... th-of-debt

And, as Jarret Wiens says in this video, “Build the frickin' pipeline . . ..”

https://globalnews.ca/video/4775757/pol ... rgy-sector
Last edited by Mordu on Dec 23rd, 2018, 6:01 am, edited 1 time in total.
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Re: 1.6 B bailout for oilpatch companies

Postby Mordu » Dec 21st, 2018, 11:01 am

Re: the convoy.

vegas1500 wrote:
While I am 1000% on their side and make my living in the oil and gas sector, I don’t think delaying traffic on one of Edmonton’s busiest roads was the best move. *bleep* people off to get them on your side seems counter productive. Heard on the news this AM there was a few accidents and even a woman that gave birth on the side of the road because they couldn’t get through. They need this convoy to circle parliament hill to get some attention.


From the Journal.

No tickets issued during pro-oil convoy that slowed traffic on Henday

(Photo of a nice young couple drivin’ off into the sunset in one of the trucks from Drayton Valley)

No tickets were issued and no emergency vehicles were seriously delayed during a pro-oil and gas truck convoy rally that snarled traffic in Edmonton Wednesday.

. . .

Alberta Health Services spokesman Kerry Williamson said they had no records of ambulance delays resulting in serious complications as a result of the convoy.

http://edmontonjournal.com/news/local-n ... -on-henday

The traffic report. The tweets show up on the 19th.

Um, it seems there may’ve been a few hiccups?

But I’ll quote two of my faves:

Mark, “I hear the next convoy witl include a foot shooting contest.”

Ami Amoto, “Dear Convoy, I support you! But please for the love of god let my skip the dishes through!!! – Starving in Edmonton.”

Also, somebody mentioned it was trending in Vancouver.

http://twitter.com/yegtraffic
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Re: 1.6 B bailout for oilpatch companies

Postby hobbyguy » Dec 21st, 2018, 6:01 pm

Gone_Fishin wrote:
hobbyguy wrote:Say thank you to "sticky fingers Horgan", the village idiot George Heyman, and the weasel Weaver.

Just shows you what happens when the BC NDP/LEAP steal power - everything goes futz.


It's 100% Trudeau's fault. He cancelled NGP and EE and took TMX away from a company that actually builds pipelines. Going on 4 years, and not an inch of pipeline built under Trudeau. Three strikes, he's OUT.


Horse puckey. And you know it.

Harper and Oliver tried to shortcut - and the longest distance between point A and point B is a shortcut. How many inches of pipeline to tidewater got built in over a decade of Harper and his "oil sands or bust" one trick pony economic policy? ZERO!

The NGP was never going to get built. It was dying in the courts, and decisions prompted by the NGP fiasco by Oliver and Harper came back to haunt the TMX.

EE was never going to get built as proposed. The approval under the old Harper/Oliver shortcuts process was never going to stand up in court, and a new process was needed.

Face it, the Conservatives got absolutely nowhere with tidewater pipeline. (And it looks like the XL to the states may be dead - again).
Anyone but Scheer - career pols are know nothings.

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Re: 1.6 B bailout for oilpatch companies

Postby Gone_Fishin » Dec 21st, 2018, 9:28 pm

8,000 kilometers of pipeline built under Harper. 0 millimeters of pipeline built under Trudeau. That's the comparison that matters.

Even LNG is folding under Trudeau and his sidekicks, Horgan-Weaver. When investors have a whole world to put their money to work in, Canada is among the last places they'll ever consider, and that is 100% because of Trudeau.
Ecclesiastes 10:2 "A wise man’s heart inclines him to the right, but a fool’s heart to the left."
Get a high school drama teacher to run a country, and what do you get? High school drama.

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Re: 1.6 B bailout for oilpatch companies

Postby Chyren » Dec 22nd, 2018, 2:57 pm

Isn't the point of having a federal government is to protect Canadian jobs. If this money prevents massive layoffs then that's the job of the government.

Ask the GM workers if they would support a government loan to allow them to keep their jobs....
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Re: 1.6 B bailout for oilpatch companies

Postby Mordu » Dec 23rd, 2018, 6:11 am

Chyren wrote:Isn't the point of having a federal government is to protect Canadian jobs. If this money prevents massive layoffs then that's the job of the government.

Ask the GM workers if they would support a government loan to allow them to keep their jobs....


Hopefully, to put is all on the same page with this. And I've bolded the direct support for the workers.

Government of Canada Announces Support for Workers in Canada’s Oil and Gas Sector

http://boereport.com/2018/12/18/governm ... -sector-2/

Government of Canada Announces Support for Workers in Canada’s Oil and Gas Sector

December 18, 201810:14 AM CNW

EDMONTON, Dec. 18, 2018 /CNW/ – Canada’s Minister of Natural Resources, the Honourable Amarjeet Sohi, together with Canada’s Minister of International Trade Diversification, the Honourable Jim Carr, today announced more than $1.6 billion to support jobs and workers in Canada’s oil and gas sector as Canada seeks to diversify export markets for its resources beyond the United States. These measures will support workers and their families, foster competitiveness and improve the long-term environmental performance of the industry.

Today’s announcement is an investment in our country’s future and in thousands of jobs tied to our resource industry, while building on recent federal efforts to support Canada’s oil and gas sector. These include the Government’s $4.5-billion purchase of the Trans Mountain Pipeline and existing assets; the introduction of tax incentives — an accelerated capital cost allowance for businesses of all sizes — and plans to reduce the regulatory burden across the economy announced in the federal Fall Economic Statement; and Minister Sohi’s request of the National Energy Board to explore pipeline optimization.

These measures include:

$1 billion in commercial financial support from Export Development Canada to be made available to exporters of all sizes to assist companies looking to invest in innovative technologies, address working capital needs or explore new markets.

A new $500-million Energy Diversification commercial financing envelope over three years from the Business Development Bank of Canada to help higher risk but viable oil and gas small business enterprises weather the current market uncertainty.

A $50-million investment through Natural Resources Canada’s Clean Growth Program in oil and gas projects — projected to generate $890 million in investment.

$100 million through Innovation, Science and Economic Development Canada’s Strategic Innovation Fund in energy and economic diversification-related projects.

Investments from the National Trade Corridor’s Fund are also available for projects that address bottlenecks in the freight rail system to support the efficiency and fluidity of transportation of all commodities.

A suite of Employment and Social Development Canada services and programs is also available and can be deployed quickly to assist workers who may be negatively affected. This includes Work-Sharing to prevent layoffs and immediate income supports through Employment Insurance. Employment programming such as counselling, job search assistance, training and skills development programs delivered by provinces and territories is also available.

“The oil and gas industry is core to Canada’s economy. These investments will help protect jobs and restore competitiveness during this difficult time. We know that getting our resources to non-U.S. markets is the long-term solution to ensuring every barrel of oil gets its full value. That remains our focus, and we will continue to work hard to deliver results,” said Amarjeet Sohi, Canada’s Minister of Natural Resources.

“Alberta’s oil and gas expertise is recognized globally. Today’s investments respond to the current environment, but also demonstrate our confidence in the ingenuity and determination of Albertans to prevail in the global marketplace. This government is committed to helping any business, however small, tap the unparalleled trade deals and job-creating investment now open to Canadians,” said Jim Carr, Canada’s Minister of International Trade Diversification.

“Innovation in our resource sector will drive its future success and ensure it continues to play an essential role in our economy and in the lives of Canadian families. The Government is taking decisive action to help restore competitiveness, support innovation, improve environmental performance and create more middle-class jobs,” said Navdeep Bains, Canada’s Minister of Innovation, Science and Economic Development.

“The Government understands that small- and medium-sized businesses are the backbone of our economy, employing millions of Canadians. Market uncertainty has put strain on our oil and gas SMEs, and that’s why we are taking real action with commercial financing that will help Canada’s oil and gas businesses remain competitive and continue to create good, middle-class jobs across Canada,” said Mary Ng, Canada’s Minister of Small Business and Export Promotion.


Like I said earlier, “I don’t see where this support covers off the millions of dollars’ worth of assets, mostly equipment, which is depreciating and / or is still subject to financial payments and is lying dormant in just one of many Alberta communities because it's specialized towards serving the present energy infrastructure.”

I mean, how does it help this nice young couple (from the Edmonton rally) who may just be starting out in the ‘the patch’ to put their truck to work today?

Image

(photo source: https://edmontonjournal.com/news/local- ... -on-henday)

This industry isn't as simple a factory with workers on the floor.
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Re: 1.6 B bailout for oilpatch companies

Postby Jalf » Dec 23rd, 2018, 10:54 am

Must be nice to be able to afford to burn off a couple hundred bucks in diesel to drive around protesting instead of trying to find a new job. seems like they are doing ok to me.

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Re: 1.6 B bailout for oilpatch companies

Postby Mordu » Dec 23rd, 2018, 11:53 am

Jalf wrote:Must be nice to be able to afford to burn off a couple hundred bucks in diesel to drive around protesting instead of trying to find a new job. seems like they are doing ok to me.


They look pretty happy to me, too, considering . . .. You know, 'just out for a Sunday drive' with not a care in the world while they try to do something positive with their 'community family' for their situation. They probably stopped off at Costco for groceries and to 'gas up' at 'the big smoke prices' on the way back to the 'sticks'.

BTW, google their company and see where you end up on the map as the 'home' of their business.

But like I said, most of the oil patch is made up of micro entrepreneurial contractors who 'hang it all out' to supply and maintain their own equipment dedicated to a monoculture industry, like my daddy and I were (a job for my welding truck means a job for me), not factory floor workers as in GM and Bombardier who are covered by some company benefits and a lot of Government and public sympathy.

Still, my mother and my wife were great money managers to carry our families through the up and down times due to the work related injuries and the oil price whims that put us out of work but never stopped the monthly bills from coming. And as a threat to our livelihood, we never had to face the 'sociably unacceptable' Government and public prejudices these kids are facing today.

So then, now that you got to know a little bit about us, how about you? What do you do for a living?

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Re: 1.6 B bailout for oilpatch companies

Postby vegas1500 » Dec 23rd, 2018, 12:52 pm

Jalf wrote:Must be nice to be able to afford to burn off a couple hundred bucks in diesel to drive around protesting instead of trying to find a new job. seems like they are doing ok to me.


My god some people are :cuss: clueless. Glad you think they are "doing OK". There is not a whole lot of work for these oil patch workers, hence the protest.

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Re: 1.6 B bailout for oilpatch companies

Postby Mordu » Dec 28th, 2018, 4:58 pm

Maybe a tap in?

‘Bout time this idea got some traction.

“CN Rail planning pilot plant to create oilsands bitumen pucks that are easy to ship and float in water

https://business.financialpost.com/tran ... umen-pucks

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Re: 1.6 B bailout for oilpatch companies

Postby Urban Cowboy » Dec 28th, 2018, 5:52 pm

Chyren wrote:Isn't the point of having a federal government is to protect Canadian jobs. If this money prevents massive layoffs then that's the job of the government.

Ask the GM workers if they would support a government loan to allow them to keep their jobs....


Been there done that, this time they can fend for themselves, just like so many other Canadians have to do.
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