Thread: Calgary Economy
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Old Posted Aug 19, 2009, 6:56 PM
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lubicon lubicon is offline
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Join Date: Jun 2003
Location: Calgary - our road planners are as bad as yours Edmonton
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Quote:
Originally Posted by freeweed View Post
Yup. It offsets the doomsayers who complain about natural gas prices being so low as to ruin our economy. If gas is low enough, oilsands become VERY profitable. And vice-versa. It's a nice balance in the end.
It would be nicer if gas prices found a happy medium. The province is getting absolutely killed right now by the current prices. Drilling is way off, and I read an article last week estimating 25 000 direct job losses in the drilling sector this year alone, and that's not ocunting indirect spinoff jobs that have been lost. Plus, Alberta makes the bulk of it royalties from gas. So while it may breathing a little life into some oisands projects, it is coming at a very heavy cost to the 'other side' of the industry (the conventional side).
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