downturn of 2015

[Hopalong]

Have heard there is shortage of refinery capacity in prairie provinces and adjacent states.
Rather than slow production might just mean not bringing in so much from outside.

[sumdumguy]

No need for immigrants?

[hobbyfrmr]

What is even more incredible is how large amounts of money erases young people's memory. A young student worked at a small town local garage/tire shop. He pulled wrenches after school and weekend for gas and beer money etc.
after graduating high school the young guy gets a job in oilfield in alberta. He starts making triple the money he was accustomed to.
I meet him in town and compliment his truck he has lifted himself because he is skilled. He then says I just got new tires and rims. I said good you are reciprocating with old boss. Young guy says no I bought from the new tire shop 2 blocks away. I said your old boss gave you employment and a paycheque for beer and stuff. Young guy says yeah but I got a deal from the other guy.
I explained it again about reciprocation, he still didn't get it, he only knew he "saved" a bunch of money for himself.

[ado089]

Calling the oil industry greedy is a bit rich when there are grain traders making $2k a day to make back to back trades and deal with a little bit of logistics now and then.

[parsley]

In the rural municipality we live in, 2/3 of the entire money gathered up as taxes is paid for by 'big oil'. Think about the total amount of tax dollars big oil pays in all of rural Saskatchewan. And guess who would be paying more if oil shut down? Yup. That's you forage and adobe et al. Pars

[errolanderson]

December WTI crude broke below $76.50 per barrel this morning. Believe these may be four (4) year lows.

Interesting, the financial crash of 2008, crude broke below $40 per barrel.

Not sure what will turn this pattern around as the Middle East has certainly lost influence in global pricing.

[Klause]

Horse I'd like to see you pull cemented off wet pipe when it's 3 am -40 and the windchill is up to -60 and your outside for 12 hours


Then I'll ask you if 35 bucks is too much.

[bucket]

Price of oil could go to 20 bucks a barrel and we would still be paying a buck a liter for gas.

What is the excuse for that?

Transportation costs.?

[SASKFARMER3]

I HAVE A QUESTION.
ON THE RECENT TRIP TO ALBERTA IS IT ME OR ARE THE PUMP JACKS JUST MOVING A LITTLE SLOWER.
CAN THEY SLOW THEM DOWN IS MY QUESTION.
WTF IS WRONG WITH THE PRICE OF DIESEL.
1.32 BY CROSSIRON MALL.

[farmaholic]

To me it is like vehicle or machinery prices. MSRP won't change but they will "program" the shit out of them to move them. Loyalty bonuses, cash back, anything to maintain the full retail price and play the game after. I realize this doesn't mirror pump pricing but they seldom want to give up any gains and revert back to a cheaper price. They do to some extent but the drop, I doubt, is ever reflective of what the drop of the base commodity used to produce the final product was and the drop is slow to come. But when the costs increase, lookout, it never takes long for that to be reflected in the final price. Ever get tired of being a "consumer"?

[phoenix64]

Oilfield wages are simply a function of supply/demand principles. When drilling activity is robust the only way to attract potential employees from their guaranteed salaried positions in other industries is to offer up extreme amounts of cash. For all that cash, you give up any sense of job security and your project could be shut down at any time. I was in this boom/bust scenario for 30 years, not all roses.

[fjlip]

Prices mostly stay "because they can". Once lowered consumers get "SPOILED", heaven forbid we might expect lower prices to remain. Everything farmers buy HAS to increase every year. A decrease is not in the market's comprehension. But our commodity prices are like a yo yo, whipsaw constantly, every day, every minute of trading hours, and that is the law for us, the same can never happen for those we buy from.

[checking]

Better rethink your question.

What is right with the price of diesel?

Slow pump jacks indicate good wells.

[helmsdale]

Why is it so hard for some of you to feel empathy for those who could potentially lose their jobs? Most of the young farmers in this and alot of other areas check oil/gas wells, drive truck, reclaim leases, etc... in order to put food on the table while the farm side of their life barely pays the inputs and the rent. That aside, how was saskatchewan doing economically before the oil boom? What would be left of many of our small towns in western canada without oil and gas? Secondly I challenge anyone saying the wages are too high to feel free to volunteer themselves for less than going rate for the same job that they feel is "over payed". Seems rich coming from farmers who sleep nearly every night with their wives, have the ability to see their kids off on the bus every morning, and work hours of their choosing. We think that everyone else in the world should walk a mile in the shoes of a farmer to see how hard we have it. Don't be afraid to do the same for everyone else!

[mbdog]

helms...careful not to let the ag groupies/ideologs on AV get under your skin. Don't like that you painted "farmers" with a brush. I think majority empathize with the job.
Back to Errol's point...AVer's...here's hoping the ripple effect of current downturn in oil doesn't catch you with your pants down.