Quote:
Originally Posted by Mr.Coffee
Let’s see...
- if you think property taxes are set to rise $25 I have a bridge to sell you. Come on man...Jesus Christ
- agree it’s clear Edmonton is not a part of this and that is good!
- I don’t think Nenshi is “corrupt” but I think he’s highly personally motivated. It’s a big risk to take being the first “change of face” host location for the IOC so yeah I think it’s completely fair and rational to be skeptical of that
- the Japanese are actually a whole hell of a lot more conservative than we are culturally from my understanding but notwithstanding that I agree it’s no guarantee we see massive cost overruns but if you don’t think there is significant risk here I would argue you’re viewing this with emotion and not being objective about it
I’m closer to a yes but still an absolute and unequivocal NO vote. I think if Calgary wants to do this we should see how things go for our economy over the next few years and try again in 2034 or 2038 if things turn around at all. But right now with capital programs massively being slashed, capital investment in E&P oil and gas in Canada 2018 being 1.9B vs prior years 2018 19 B or 20B year before kinda thing... the junior sector in oil and gas has been absolutely unfunded and demolished. What you’ll see, is our economy over the next 2-4 years getting murdered as capital flight continues and production reduces. We are in for a very, very bleak economic near term future so to run around hosting a party strikes me as insanely irresponsible.
Calgary is in some serious, serious trouble in the short term. Oil is $18/bbl today. Gas is terrible. NGL’s are in trouble on futures. People can’t justify drilling. Oil and gas is the breadbasket of this city. We are in massive trouble and we are going to host a party?
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This narritve of Calgary’s a ####hole and in trouble is tiring from both sides. The sustaining production of current oil sites will continue to support jobs in Calgary even at $20 WCS. $20 WCS is temporary. These layoffs from lack of foreign investment and capital flight have already occurred. We are at what sustained low oil prices look like. Now if I am wrong and instead we are in serious trouble then spending on the Olympics won’t matter as we are in serious trouble. The money spent on the Olympics wil just come out of other Capital projects. It means less overpasses if budgets are blown. That is completely irrelevant to how Oil and Gas are doing.
The city can do nothing to affect the macroeconomic conditions so using that as an argument for or against doesn’t make sense.