Alberta’s energy minister says laid off workers could go to B.C.

[ranchlandsselling]

Originally Posted by PsYcNeT

Your rhetoric is veering close to "hoard your gold!" Ron Paul territory.

Really? Wow, I'm not seeing that at all.

[PsYcNeT]

Well the idea that intangible commodities have no value is not exactly uncommon nowadays.

[ranchlandsselling]

Originally Posted by PsYcNeT

Well the idea that intangible commodities have no value is not exactly uncommon nowadays.

No, but that's not at all how I read the posts as coming across as. But I've been wrong enough to know I'm often wrong. Shrug...

[Ozy_Flame]

Originally Posted by peter12

What is an automated economy? All parts? Manufacturing? Knowledge economy? We aren't nearly at the point where robots can do much more than put parts together after being programmed to the nth degree of instructions.

Algorithms require constant human input. Diminishing returns, as Jaron Lanier has pointed.

Massive infrastructure costs. Monopolies.

It is so vogue right now to kind of toss your hair, use some Silicon-Valley approved language, and act like the BIG CHANGE IS COMING.

Advertising is just wealth redistribution. That is what these companies do. They have reengineered the internet to make sure that a lot of traffic goes through their data hub, and they reorganize it, and sell it.

I've been working in tech for close to a decade, and I guess you and I will have to agree to disagree, brother. We're busier than ever integrating end-to-end ERP systems with corporate infrastructure. A good one I can think of is using real-time and predictive analytics to monitor and measure pipeline integrity in Northern Alberta, which the raw format is then extracted and converted into common intake formats using ETL processes, cleaned, and modeled, and then visualized in a BI-based platform for both desktop and mobile consumption - at work or at home. Said data can then help with re-allocation of resources, both machine and human, cutting out inefficiences and saving a company millions of dollars in the long run. Before, it had to be done using manually retreival of Pipeline Inspection Gadgets; now, the process can be done in a digital, automated fashion.

Big data, analytics, MDM, and mass user data integration is, IMO, already here - it's just not a scale yet where you put your face up to your car, it scans your retinas, and then picks your favorite Spotify playlist as soon as you sit down.

If you can identify the point in which the advertising revenue will collapse for Google and Facebook, I'd like to know your secrets.

[Nobama]

Originally Posted by peter12

The recent round of billion dollar valuations in SV has incited this same comparison from many respected commentators. It isn't crazy to think that these companies are hyped merely on the basis of investors wanting a return.

http://www.bloomberg.com/news/articl...tech-companies

Great article. My favorite quote is "Here's the secret to how Silicon Valley calculates the value of its hottest companies: The numbers are sort of made-up"

Again didn't Enron do this?

[PsYcNeT]

Originally Posted by Nobama

Great article. My favorite quote is "Here's the secret to how Silicon Valley calculates the value of its hottest companies: The numbers are sort of made-up"

Again didn't Enron do this?

Enron exploited limited liability special purpose entities to inflate their growth, which bolstered their stock price, and then blatantly fabricated their holdings and investments to appear larger and more diversified.

[heep223]

Originally Posted by Nobama

Great article. My favorite quote is "Here's the secret to how Silicon Valley calculates the value of its hottest companies: The numbers are sort of made-up"

Again didn't Enron do this?

Enron committed fraud and was manipulating markets. Tech investors are using metrics to value start ups that are different than traditional metrics.

[Nobama]

Originally Posted by heep223

Enron committed fraud and was manipulating markets. Tech investors are using metrics to value start ups that are different than traditional metrics.

fraud and was manipulating markets = using metrics to value start ups that are different than traditional metrics

[ranchlandsselling]

Originally Posted by Nobama

fraud and was manipulating markets = using metrics to value start ups that are different than traditional metrics

Quick legal definition of fraud:

Fraud is deliberate deception to secure unfair or unlawful gain.

I don't think your comparisons are fair. You could call it a bubble, or investor hype, over exuberance. But fraud... Not so much.

[Weitz]

Was Skilling deliberate in his deception? Or caught in his own self-prophecy?

[#-3]

I don't see the problem it's worked for Newfoundland and Alberta the past 15 years

[Mr.Coffee]

I see the energy minister has given CAPLA a similar dose of wisdom that the people of CAPL heard, which I'll be honest, was like sitting and listening to a speech from an alternate dimension.

It was evident within about 2 minutes that we are in a world of hurt if this energy minister has any decision making ability, which allegedly she does. I mentioned before, but the things that stuck out for me was when she said a) her #1 concern upon becoming energy minister was the protection of the provinces' caribou (which is odd because I didn't think their hooves could hold pencils to vote in elections) and 2) her opening 20 minutes or so declaring how she was qualified because she had family members and knew other people that had worked in various oil and gas positions. In fact, 1 was an admin if I recall, which means I highly suspect she unloaded a similar message to CAPLA.

Anyways, seriously, given the state of industry, macro elements, stricter environmentalism (I'm actually ok with this one, just saying), unnecessary and inadequate regulatory burden, a failure of both provincial and federal leadership to properly assist both industry and First Nations with clarity on how proper consultation and approvals should work, lack of access to foreign markets, one of the highest capital cost development areas in the world and increasing uncertainty with a royalty review plus slightly increased corporate taxes and perhaps most importantly- an aging and declining / mature asset basin........

It's little wonder why we are as ####ed as we really are. And so yeah, it's almost sickening to have a teacher stand up there, while your friends and family are losing jobs, can't get jobs, problems everywhere, and to hear this lady start talking about how her #1 concern is the caribou. When she is the energy minister. Caribou.

Caribou. Just think about that. At this stage of the downturn. It's mindboggling. I don't have any issue with party politics. I don't give a rats ass about who is governing or what, just give my family a chance and give other families a chance. Because at the end of the day, they are caribou.

[Locke]

They're majestic creatures?

[Mr.Coffee]

They aren't that majestic.

[CaptainCrunch]

Originally Posted by Mr.Coffee

I see the energy minister has given CAPLA a similar dose of wisdom that the people of CAPL heard, which I'll be honest, was like sitting and listening to a speech from an alternate dimension.

It was evident within about 2 minutes that we are in a world of hurt if this energy minister has any decision making ability, which allegedly she does. I mentioned before, but the things that stuck out for me was when she said a) her #1 concern upon becoming energy minister was the protection of the provinces' caribou (which is odd because I didn't think their hooves could hold pencils to vote in elections) and 2) her opening 20 minutes or so declaring how she was qualified because she had family members and knew other people that had worked in various oil and gas positions. In fact, 1 was an admin if I recall, which means I highly suspect she unloaded a similar message to CAPLA.

Anyways, seriously, given the state of industry, macro elements, stricter environmentalism (I'm actually ok with this one, just saying), unnecessary and inadequate regulatory burden, a failure of both provincial and federal leadership to properly assist both industry and First Nations with clarity on how proper consultation and approvals should work, lack of access to foreign markets, one of the highest capital cost development areas in the world and increasing uncertainty with a royalty review plus slightly increased corporate taxes and perhaps most importantly- an aging and declining / mature asset basin........

It's little wonder why we are as ####ed as we really are. And so yeah, it's almost sickening to have a teacher stand up there, while your friends and family are losing jobs, can't get jobs, problems everywhere, and to hear this lady start talking about how her #1 concern is the caribou. When she is the energy minister. Caribou.

Caribou. Just think about that. At this stage of the downturn. It's mindboggling. I don't have any issue with party politics. I don't give a rats ass about who is governing or what, just give my family a chance and give other families a chance. Because at the end of the day, they are caribou.

If I was there I probably would have burst out laughing at whats sounds like a Benny Hill Comedy skit.

[Locke]

Originally Posted by Mr.Coffee

They aren't that majestic.

Yeah...I got nuthin.

[Fozzie_DeBear]

Alberta has been investing huge amounts in trying to diversify the economy and 'add value' to the natural resources here. Have they been successful? Not as much as they could be...

I like to think of the Alberta economy as a three ring bull's eye. At the centre of the economy are natural resources (conventional/unconventional oil/gas; Agriculture; Forestry), surrounding the centre is the 'ring' of companies that provide manufacturing and knowledge to the firms in the natural resource sector. Often, these companies are extremely knowledge based and use IT, advanced materials etc. and require highly educated people...however the success of these companies are linked to the success of the companies developing the natural resources.

The outer ring are companies that exist largely because of the highly skilled people that exist in the middle ring. An Alberta company that does medical software for example, may exist here because there are enough IT people arising from the needs of the oil and gas sector (middle ring). However these companies don't directly depend on the middle two rings. These companies could, for all intents and purposes, exist anywhere in world.

The main point is that A : Alberta (and Canada) are driven by natural resources and B : These natural resources can provide economic feedstock for a high tech sector. The problem is the natural resources can suck a lot of the oxygen from the room until the 'outer-ring' of the economy (that is not linked to the natural resource sector) grows to a significant size.

[Boblobla]

Originally Posted by Mr.Coffee

I see the energy minister has given CAPLA a similar dose of wisdom that the people of CAPL heard, which I'll be honest, was like sitting and listening to a speech from an alternate dimension.

It was evident within about 2 minutes that we are in a world of hurt if this energy minister has any decision making ability, which allegedly she does. I mentioned before, but the things that stuck out for me was when she said a) her #1 concern upon becoming energy minister was the protection of the provinces' caribou (which is odd because I didn't think their hooves could hold pencils to vote in elections) and 2) her opening 20 minutes or so declaring how she was qualified because she had family members and knew other people that had worked in various oil and gas positions. In fact, 1 was an admin if I recall, which means I highly suspect she unloaded a similar message to CAPLA.

Anyways, seriously, given the state of industry, macro elements, stricter environmentalism (I'm actually ok with this one, just saying), unnecessary and inadequate regulatory burden, a failure of both provincial and federal leadership to properly assist both industry and First Nations with clarity on how proper consultation and approvals should work, lack of access to foreign markets, one of the highest capital cost development areas in the world and increasing uncertainty with a royalty review plus slightly increased corporate taxes and perhaps most importantly- an aging and declining / mature asset basin........

It's little wonder why we are as ####ed as we really are. And so yeah, it's almost sickening to have a teacher stand up there, while your friends and family are losing jobs, can't get jobs, problems everywhere, and to hear this lady start talking about how her #1 concern is the caribou. When she is the energy minister. Caribou.

Caribou. Just think about that. At this stage of the downturn. It's mindboggling. I don't have any issue with party politics. I don't give a rats ass about who is governing or what, just give my family a chance and give other families a chance. Because at the end of the day, they are caribou.

Is there an issue with the caribou that the moment though? I am on a jobsite right now and the amount of money we are spending building animal crossings and underpasses on our pipelines is staggering. I have been up here since Feb. 2014 and have yet to see a single caribou. Wolves, bears, foxes and moose sure, but not on single caribou.

[Mr.Coffee]

Keep in mind my issue is that it's the number 1 concern for the energy minister. Not that it isn't or shouldn't be an issue, or handled by oh I dunno, a different person / minister.

Otherwise who really is the energy minister? Who is the industry's voice in what is the worst moment for industry in a couple of decades in this government?

There are better and bigger things the energy minister can / should be doing, and I'm by no means even remotely qualified to be an energy minister.

[Cyclops]

Originally Posted by Mr.Coffee

I see the energy minister has given CAPLA a similar dose of wisdom that the people of CAPL heard, which I'll be honest, was like sitting and listening to a speech from an alternate dimension.

It was evident within about 2 minutes that we are in a world of hurt if this energy minister has any decision making ability, which allegedly she does. I mentioned before, but the things that stuck out for me was when she said a) her #1 concern upon becoming energy minister was the protection of the provinces' caribou (which is odd because I didn't think their hooves could hold pencils to vote in elections) and 2) her opening 20 minutes or so declaring how she was qualified because she had family members and knew other people that had worked in various oil and gas positions. In fact, 1 was an admin if I recall, which means I highly suspect she unloaded a similar message to CAPLA.

Anyways, seriously, given the state of industry, macro elements, stricter environmentalism (I'm actually ok with this one, just saying), unnecessary and inadequate regulatory burden, a failure of both provincial and federal leadership to properly assist both industry and First Nations with clarity on how proper consultation and approvals should work, lack of access to foreign markets, one of the highest capital cost development areas in the world and increasing uncertainty with a royalty review plus slightly increased corporate taxes and perhaps most importantly- an aging and declining / mature asset basin........

It's little wonder why we are as ####ed as we really are. And so yeah, it's almost sickening to have a teacher stand up there, while your friends and family are losing jobs, can't get jobs, problems everywhere, and to hear this lady start talking about how her #1 concern is the caribou. When she is the energy minister. Caribou.

Caribou. Just think about that. At this stage of the downturn. It's mindboggling. I don't have any issue with party politics. I don't give a rats ass about who is governing or what, just give my family a chance and give other families a chance. Because at the end of the day, they are caribou.

I don't think it's anything new to have a minister with no previous experience in that sector. I'm fine with having someone with no ties to these companies coming in and doing what needs to be done.

Wasn't Stephen Mandel appointed the Minister of Health by Prentice? What kind of education did he have to gain that position?

Jobs are out there, might not be the over paid work that some Albertans were comfortable with but work is there.