04-17-2020, 09:28 AM
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#5201
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Norm!
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750 million for methane emissions reductions and working with BDC for loans for mid sized companies.
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My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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04-17-2020, 09:30 AM
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#5202
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Franchise Player
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Quote:
Originally Posted by transplant99
Feds pledge 1.7B towards orphan well remediation.
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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.
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04-17-2020, 09:30 AM
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#5203
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Lifetime Suspension
Join Date: Sep 2005
Location: The Void between Darkness and Light
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Quote:
Originally Posted by transplant99
Feds pledge 1.7B towards orphan well remediation.
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pretty good gig if you can get it
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04-17-2020, 09:37 AM
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#5204
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Franchise Player
Join Date: Mar 2002
Location: Auckland, NZ
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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.
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04-17-2020, 09:42 AM
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#5205
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Franchise Player
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Quote:
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.
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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?
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04-17-2020, 09:42 AM
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#5206
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Norm!
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Quote:
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.
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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.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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04-17-2020, 09:47 AM
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#5207
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Franchise Player
Join Date: May 2004
Location: Marseilles Of The Prairies
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Quote:
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?
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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.
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Quote:
Originally Posted by MrMastodonFarm
Settle down there, Temple Grandin.
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04-17-2020, 09:51 AM
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#5208
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Fearmongerer
Join Date: Oct 2001
Location: Wondering when # became hashtag and not a number sign.
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Quote:
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.
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Probably not, but it will create a decent amount of jobs as well as being something that has to be addressed at some point.
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04-17-2020, 09:54 AM
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#5209
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Franchise Player
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Quote:
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.
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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.
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04-17-2020, 09:55 AM
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#5210
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Franchise Player
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Quote:
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.
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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.
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04-17-2020, 09:59 AM
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#5211
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Franchise Player
Join Date: Mar 2002
Location: Auckland, NZ
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Quote:
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?
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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.
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04-17-2020, 10:00 AM
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#5212
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Lifetime Suspension
Join Date: Sep 2005
Location: The Void between Darkness and Light
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Quote:
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.
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nah, it's fine, the industry has a fund for it, don't worry
https://forum.calgarypuck.com/showth...an#post5762317
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04-17-2020, 10:01 AM
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#5213
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Norm!
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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.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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04-17-2020, 10:04 AM
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#5214
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Franchise Player
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Quote:
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.
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Yeah but the auto industry is located in Ontario.
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Quote:
Originally Posted by MisterJoji
Johnny eats garbage and isn’t 100% committed.
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04-17-2020, 10:16 AM
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#5215
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Norm!
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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.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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04-17-2020, 10:21 AM
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#5216
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Franchise Player
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Quote:
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.
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Again - the companies in question - the "they" you're referring to - no longer exist. There is no "they" left.
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"The great promise of the Internet was that more information would automatically yield better decisions. The great disappointment is that more information actually yields more possibilities to confirm what you already believed anyway." - Brian Eno
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04-17-2020, 10:26 AM
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#5217
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Franchise Player
Join Date: Mar 2002
Location: Auckland, NZ
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Quote:
Originally Posted by CorsiHockeyLeague
Again - the companies in question - the "they" you're referring to - no longer exist. There is no "they" left.
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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.
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04-17-2020, 10:26 AM
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#5218
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First Line Centre
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Quote:
Originally Posted by Locke
Anyone else thats running, do they really want to be the one to pick up the pieces at this point?
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I was once advised to avoid being the person who replaces a success story. Replacing Trump comes with a really low bar.
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04-17-2020, 09:36 PM
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#5219
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First Line Centre
Join Date: Mar 2007
Location: Calgary
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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.
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04-17-2020, 09:47 PM
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#5220
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Franchise Player
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Quote:
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.
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And who has better numbers? Because it’s none of the majors.
Last edited by Weitz; 04-17-2020 at 09:54 PM.
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