Quote:
Originally Posted by Ford Prefect
I know of one business sector that won't be saddened by a down turn in the oil and gas business ... small businesses who can't find tradesmen, skilled labour, even half decent unskilled labour, etc., because they've all headed to the patch. If there's a down turn in the patch then they'll be able to find the welders, electricians, labour, etc to enable them to run their small, independent businesses at a profitable level again. And I doubt first-time home buyers will be disappointed in a return to saner housing prices either. I'm undecided about who's right and who's wrong between the sides of the royalty issue. Personally, I don't trust either side. However, I think a down turn in the oil patch might be good for the overall economic health of the province for the reason's I've stated above. And I don't have much sympathy for a company like Encana that comes out with a schoolyard type response to the problem. Boo hoo, cut my profits and I'll take my ball and go home. Boo hoo. Go then. They guy in Olds who have to shut down his playground equipment manufacturing operation because he couldn't compete with the oil patch for welders will be ecstatic. At least, he will be if he's able to resurrect his company. For many small businesses it's too late.
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I don't see how hammering on one industry that is internationally competitive in favour of smaller less efficient ones would be of any benefit. These smaller companies shut they're doors because they offer poor wages and pathetic benefits.. Thats not big oil's fault, its tightwad business owners who like to ride within an inch of the labour laws to reap maximum profit. Boo hoo to them I say, Im happy that there are massive oil majors willing to bend over backward to compensate people appropriately. I'm sure theres plenty of tradespeople out there that would agree.. Why would anyone be satisfied with a $30/hr job in the city when you can make $55/hr up north and pay little to no cost of living. hmm $60k vs. $110k.. tough choice.. I agree with the housing market, but i think the slowdown will happen there regardless of what happens in the O&G sector..