Official (Alberta) Oil Discussion Thread

[CaptainCrunch]

750 million for methane emissions reductions and working with BDC for loans for mid sized companies.

[Weitz]

Originally Posted by transplant99

Feds pledge 1.7B towards orphan well remediation.

While nice, I don't see either of the announcements made today helping the average O&G worker in any way. Will wait and see specifics though.

[Flash Walken]

Originally Posted by transplant99

Feds pledge 1.7B towards orphan well remediation.

pretty good gig if you can get it

[Muta]

Great to hear this, it's definitely needed. I'd still have preferred these companies clean up their own messes though. Great job by previous crony governments not to write rules and laws around that.

[Fuzz]

Originally Posted by Muta

Great to hear this, it's definitely needed. I'd still have preferred these companies clean up their own messes though. Great job by previous crony governments not to write rules and laws around that.

But most of those wells were owned by companies that got decimated into non-existence, partially due to government policies...How are they supposed to pay for it?

[CaptainCrunch]

Originally Posted by Weitz

While nice, I don't see either of the announcements made today helping the average O&G worker in any way. Will wait and see specifics though.

It really doesn't. Its the base minimum help. Also in terms of the $750 million, are Energy Companies going to be interested in what is basically loans and credits to fight to stay in business.


Just to put this in perspective, Environment Canada gave more money to China.

[PsYcNeT]

Originally Posted by Fuzz

But most of those wells were owned by companies that got decimated into non-existence, partially due to government policies...How are they supposed to pay for it?

I mean, if they cared about being responsible environmental stewards (lol) they would have some kind of non-negotiable decommissioning budget tacked onto every well built.

But no, apparently it's an afterthought.

[transplant99]

Originally Posted by Weitz

While nice, I don't see either of the announcements made today helping the average O&G worker in any way. Will wait and see specifics though.

Probably not, but it will create a decent amount of jobs as well as being something that has to be addressed at some point.

[Weitz]

Originally Posted by transplant99

Probably not, but it will create a decent amount of jobs as well as being something that has to be addressed at some point.

I assume there will be some program set up for regular Producers to abandon their wells and can apply for some of this money. The Alberta Orphan association has no need for this amount of money and BC and Sask are tiny in comparison.

Liquidity though was the big thing and this announcement does nothing for that.

[Lubicon]

Originally Posted by Weitz

While nice, I don't see either of the announcements made today helping the average O&G worker in any way. Will wait and see specifics though.

Agreed. It's a good program but very limited in scope and will help a very narrow portion of the industry (and workers). It's still a bloodbath out there overall.

[Muta]

Originally Posted by Fuzz

But most of those wells were owned by companies that got decimated into non-existence, partially due to government policies...How are they supposed to pay for it?

What's that sound? Sounds like a tiny violin.

It shouldn't be the taxpayers issue to clean up wells for private companies - their private project, their private profit, their private cleanup. Well remediation should have been strategized and outlined in law decades ago by previous governments.

I'm happy this $1.7B is being spent here as we need work in this province right now, but this should never have had to been spent form the public purse in the first place.

[Flash Walken]

Originally Posted by PsYcNeT

I mean, if they cared about being responsible environmental stewards (lol) they would have some kind of non-negotiable decommissioning budget tacked onto every well built.

But no, apparently it's an afterthought.

nah, it's fine, the industry has a fund for it, don't worry

https://forum.calgarypuck.com/showth...an#post5762317

[CaptainCrunch]

the term is underwhelming. More was done for the auto industry during the last recession. It says a lot when the government isn't willing to do something similar in terms of investing in the industry.


The amount of jobs created or maintained 5200 is extremely minor in the grand scheme of the employment devastation in this province.

[nik-]

Originally Posted by CaptainCrunch

the term is underwhelming. More was done for the auto industry during the last recession. It says a lot when the government isn't willing to do something similar in terms of investing in the industry.


The amount of jobs created or maintained 5200 is extremely minor in the grand scheme of the employment devastation in this province.

Yeah but the auto industry is located in Ontario.

[CaptainCrunch]

Considering that more then 100 billion has been spent on this and 500 million spent today on the arts, its not much of anything. There is no real help coming for Oil and Gas in Alberta and likely after this announcement we'll probably end up losing more jobs then we gain.



Bombardier which employs about 1700 people I believe has in its history received more then a billion in bailouts.



The Oil and Gas industry has been a major massive amount of tax income provincially and Federally and we got amounts to the bare minimum.



There's not much in terms of help here for Oil and Gas.

[CorsiHockeyLeague]

Originally Posted by Muta

What's that sound? Sounds like a tiny violin.

It shouldn't be the taxpayers issue to clean up wells for private companies - their private project, their private profit, their private cleanup.

Again - the companies in question - the "they" you're referring to - no longer exist. There is no "they" left.

[Muta]

Originally Posted by CorsiHockeyLeague

Again - the companies in question - the "they" you're referring to - no longer exist. There is no "they" left.

In case you missed it, I already clearly mentioned why well remediation should have been written into law with "them" with previous governments before "they" could "no longer exist". It should have been done ages ago. Colossal oversight by previous governments not to do this. Now we get to foot the bill as taxpayers.

[wwkayaker]

Originally Posted by Locke

Anyone else thats running, do they really want to be the one to pick up the pieces at this point?

I was once advised to avoid being the person who replaces a success story. Replacing Trump comes with a really low bar.

[Ashartus]

How much this abandoned well funding will help depends on the details (as with everything). If it is a fund available for oil and gas companies to draw on so they can continue with their abandonment and remediation activities which otherwise would have stopped due to not having any money, then I guess at least it keeps a bunch of people employed and helping those companies address their liabilities. If it is going to the Orphan Well fund I think it's a waste, it won't help anyone except their contractors and their practices are so out of date that the bang for the buck will be much lower than for most of the major oil & gas companies.

[Weitz]

Originally Posted by Ashartus

How much this abandoned well funding will help depends on the details (as with everything). If it is a fund available for oil and gas companies to draw on so they can continue with their abandonment and remediation activities which otherwise would have stopped due to not having any money, then I guess at least it keeps a bunch of people employed and helping those companies address their liabilities. If it is going to the Orphan Well fund I think it's a waste, it won't help anyone except their contractors and their practices are so out of date that the bang for the buck will be much lower than for most of the major oil & gas companies.

And who has better numbers? Because it’s none of the majors.