Quote:
Originally Posted by Wolven
Absolutely, go clean that dirt and use the byproduct. The roads are built, the trucks are moving, and there is money to be made. (Just make sure you have enough money for the endgame of restoring the land after the market bottoms out.)
It will get tougher and tougher though as everyone pushing to cash out on the game. OPEC is seeing diminishing returns on their market manipulations and are now pushing more into selling as much as they can while they can. If they can keep pumping out cheap oil below the ~$20 per barrel mark (or whatever it is nowadays) that an oil sands might need to stay at to stay profitable then Alberta companies will be in trouble.
At the same time, OPEC countries are investing big money into renewables. It is almost as if they are saying one thing (oil will last forever) and doing another thing (preparing for the end of oil).
The UCP are simply not that clever. New money should be allocated to building a new industry that can keep this province running after O&G enters it's twilight but the UCP actually believe the propaganda that oil will last forever... or worse yet, they know it won't and would rather crash our province into bankruptcy than actually plan for the future. So of course they keep chasing new money after the old industry instead of prioritizing anything else.
|
I think we're on the same page... I've often said that the companies populating Calgary's downtown core are (or should be considered)
energy companies... A lot of the skill sets, infrastructure, etc are fairly easily transferable to renewables, etc... While it's easy to criticise, there's a lot of brain power running those companies and while some might miss the boat, it seems unlikely to me that the majority of O&G workers - rather than finding a transition - will simply pack their bags & close up shop while saying "we had a good run"