Official (Alberta) Oil Discussion Thread

[woob]

Originally Posted by Resolute 14

Said the pot to the kettle.

Maybe you, Ozy and his brother can get together and have a good cry about how nobody really trusts Notley.

Please. I'll refer to this post I made earlier in this very same thread:

Originally Posted by woob

First, I will admit I voted NDP, so I accept responsibility for my actions.

Second, I agree the NDP should be doing more than what they are from an energy standpoint.

<snip - as the rest speaks to Federal points>

Please tell me more about how I'm a hypocrite. Do hypocrites normally a) accept responsibility for their political vote, and b) concede that the party the voted in needs to do more?

My number of posts (in any Oil/Politics/etc thread), compared to your constant parroting of how bad the NDP has been, currently is, and will be is hardly considered a shtick. But I'm sure in your typical way, you'll inform me of how wrong I am.

I'd put you on ignore, but you speak intelligently on other topics and I enjoy reading your posts in other areas, but your incessant anti-NDP barrage is tiresome.

[burn_this_city]

I had a feeling they wouldn't do anything. Heard a lot of the input meetings had hoards of angry workers and their families screaming at the panel.

[White Out 403]

Originally Posted by CampbellsTransgressions

Perhaps she should have toned down on the populism. Then we wouldn't have had the review in the first place.

Her choice to get elected on a royalty review. Unfortunately it wasn't a smart political move if she was seeking a second term.

Originally Posted by CaptainCrunch

Fair enough, the outrage is going to be that they threw the patch into complete uncertainty and watched it burn instead of doing this month and months ago.

Originally Posted by Senator Clay Davis

I wouldn't call it outrage. It's just had anyone known the end result would be nothing, then not even doing a review would have probably saved a few jobs.

Royalty reviews should happen and should happen often. The oil industry are the ones who choose to scream bloody murder at the idea of paying more so they use scare tactics to discourage it. They use the same old tired bs lines of "uncertainty" and "instability" to scare people from checking up once in a while to see if they're paying their fair share.

That's how I see it and probably how most people outside the oil industry would see it too.

[SuperMatt18]

Originally Posted by peter12

The NDP are scum. No changes. 9 months of strife and uncertainty for nothing. How many jobs were lost?!

Yay!

The royalty review coming back unchanged means there will be no more job cuts. That was the cause for all this uncertainty and job loss from the start.

The job losses had nothing to do with Oil cratering down to $30 a barrel.

NDP hasn't gotten too much right since being voted in but it's laughable when people act like all the problems the Oil & Gas industry is facing is because of something the NDP did. They didn't help it in an already uncertain time but I personally think it's unlikely that any jobs would have been saved.

The timing was poor to launch this with they way the overall industry was trending, but it's not a bad thing to do a review of the royalties every once in a while.

Really hopefully all this announcement today means is that we see fewer cuts over the next 6 months, but IMO the cuts that already happened would have happened regardless.

[tete]

Originally Posted by northcrunk

Tell that to the people who we're layed off because of the uncertainty with this review and projects being shelved.

Have there been any companies who have said they shelved projects due to the royalty review? The tanking oil price and lack of pipeline infrastructure have generally been the reason for shut down/shut in projects.

[CaptainCrunch]

Originally Posted by Ozy_Flame

To be clear, Saudi Arabia threw the patch into the fire. The NDP may have just taken too long to pull it out.

I don't disagree with your sentiment, but would like to change the wording.

Saudi Arabia threw the patch into the fire, the NDP threw more wood on, and then started roasting marshmellons.

[CampbellsTransgressions]

Originally Posted by SuperMatt18

Yay!

The royalty review coming back unchanged means there will be no more job cuts. That was the cause for all this uncertainty and job loss from the start.

The job losses had nothing to do with Oil cratering down to $30 a barrel.

NDP hasn't gotten too much right since being voted in but it's laughable when people act like all the problems the Oil & Gas industry is facing is because of something the NDP did.

Nobody is blaming them for the price of oil. We're blaming them for the garbage that we're seeing today.

[heep223]

The funny thing, as I posted before, is that NDP and NDP supporters have been bitching about how Albertans don't get their fair share of oil revenues, things need to change, the companies are pillaging our land and leaving us with nothing, bla bla bla....

Then when they get around to actually looking at how it works, they realize that it's already a pretty good system and quite fair to all parties.

Populist bull#### ####ers

The good news out of all of this, is that we can now point to the regime and say that it's a fair system - even the NDP agree. So we can shelve that whole debate for a while.

[Kybosh]

Looks like the review created/saved a bunch of jobs at Wood Mackenzie.

[DiracSpike]

Ya, full credit to the NDP for coming up with the obvious decision...

This would be like me pressing a gun to my sack for 8 months, holding a press conference to state that in the end I won't be shooting my balls off, and then expecting everyone to kiss my ass for arriving at the "correct" decision instead of wondering I went through the whole procedure in the first place.

[nik-]

Originally Posted by heep223

The funny thing, as I posted before, is that NDP and NDP supporters have been bitching about how Albertans don't get their fair share of oil revenues, things need to change, the companies are pillaging our land and leaving us with nothing, bla bla bla....

Then when they get around to actually looking at how it works, they realize that it's already a pretty good system and quite fair to all parties.

Populist bull#### ####ers

The good news out of all of this, is that we can now point to the regime and say that it's a fair system - even the NDP agree. So we can shelve that whole debate for a while.

Some people who say that couldn't even say what it should be, just that it wasn't high enough as is.

I'm betting the majority of people in this province have no idea what the rates are or how much money it's put into government coffers over the years.

Notley's been in government since 2008, there's really no excuse for her not to know this information. It was on the government website for ####s sake.

[Locke]

Originally Posted by tete

Have there been any companies who have said they shelved projects due to the royalty review? The tanking oil price and lack of pipeline infrastructure have generally been the reason for shut down/shut in projects.

Yes. Many. A few months ago there was an article where 5 major oil companies said:

"We arent looking into exploration because we dont know what the royalty structure will be."

People who think them sitting on their hands this whole time was totally cool are completely out of touch.

Because of this delay companies shelved projects, shut in wells and killed all budgets for exploration.

For nothing.

[northcrunk]

Originally Posted by tete

Have there been any companies who have said they shelved projects due to the royalty review? The tanking oil price and lack of pipeline infrastructure have generally been the reason for shut down/shut in projects.

Yes there have been. They can't go ahead with planning as companies plan 25 years in the future which is impossible to do if you don't know what the rules are going to be. They won't keep paying people to sit on their butts and wait for the results.

[heep223]

Originally Posted by tete

Have there been any companies who have said they shelved projects due to the royalty review? The tanking oil price and lack of pipeline infrastructure have generally been the reason for shut down/shut in projects.

Yes a number have directly said that the uncertainty in the political and regulatory environment in Alberta has led to shelving projects and/or moving their capital out of Alberta (ie in the case of US investors)

[GGG]

I'll take no change.

This was a good time to do the review as well. I still don't believe that jobs were lost as a result of the uncertainty of this review. as unless companies start rehiring those people tomorrow then there was no effect just the uncertainty being used as an excuse.

This also means as prices rise towards the end of the NDP term a review to capture profits won't happen.

if it really is no changes this should be looked at as good governance by the NDP

[woob]

Frustrating that it took them all this time to pretty much leave things as is. Seems like this could have been determined a lot sooner and potentially lessened the bleeding in the industry and province. Not really surprised with the outcome though.

[tete]

Ok, fair enough. I know the royalty review had nothing to do with the company I work for totally scaling back stuff (and no, I'm not playing rhyme time).

[Kjesse]

I'm happy they came to their senses... but... this is the greatest political troll job ever.

[skudr248]

Good. Getting double meat on my sandwich today.

[Resolute 14]

Originally Posted by tete

Have there been any companies who have said they shelved projects due to the royalty review? The tanking oil price and lack of pipeline infrastructure have generally been the reason for shut down/shut in projects.

Political uncertainty has explicitly been called out as a reason for companies to shift investments out of Alberta, yes.

As to Notley's decision to do nothing, that is unsurprising. Even so, I'm a little surprised she didn't try to get blood from a stone anyway.