"Layoffs taking place on a large scale in the oil patch."

[Slava]

Originally Posted by Sylvanfan

Another odd thing...is that yesterday I get this thing from Direct Energy suggesting I lock in for 5 years to buy gas at $8.99 a gigajoule because thats the lowest price it's been in two years. Yet an artical posted earlier laments that the market is only paying $5 US for Natural gas right now and that they can't make money in Natural Gas right now. Which is it? Although Photons artical seemed to suggest that companies plan to spend the same in 08 that they spent in 07...so really not doing the mass layoff thing, more of not doing the mass hiring that some other industries are doing.

I had this discussion with a direct energy representative on my door-step. I told her that gas was at $5.6 and she was offering me a lock-in at $9. You don't have to be a rocket scientist to see the fallacy of that train of thought!

Gas is low right now...and lower than expected. We haven't had a terribly cold winter or hot enough summer to make the prices shoot up drastically.

(I left my rate floating in case you care!)

[ken0042]

Using gas lock in prices as a benchmark, last year they were offering around $12 to lock in for 5 years.

And maybe they need to sell some $9 gas to offset what they are losing by selling the rest of us gas for $6.

[BlackArcher101]

Originally Posted by I-Hate-Hulse

Agreed - I said this mid way down the page and I'll ask it again: I know a lot of service companies that are betting on a stronger Q4, and haven't cut staff in anticipation of this. Is anyone seeing evidence that Q4 is going to be a strong as they say?

The company I work for has pretty much streamlined itself and can't really go any further in terms of less # of personnel. We do count on a larger Q4 and even Q1 2008, but not in Alberta. We are expecting it to pick up out of province.