First deficit in 15 years looms for oil-rich Alberta

[jdobbin]

http://www.ctv.ca/servlet/ArticleNews/stor...1217?hub=Canada

Tumbling energy prices are pushing energy-rich Alberta towards a deficit in the upcoming year - a huge turnaround for a province with 15 surplus budgets in a row.

A spokesman for Premier Ed Stelmach has confirmed that if oil prices remain low, the province may be forced to declare a deficit in the 2009-2010 fiscal year.

That would allow the government to tap a multibillion-dollar sustainability fund set up to backfill revenues during tough times.

But an Alberta economist says the province won't sink into a deficit this year, even though oil prices have plunged from almost US$150 per barrel to about US$40 since the summer.

Somehow I doubt there will be a deficit either.

However, I expect that the boom will slow down and some of temporary workers will be heading back to other provinces again.

[madmax]

http://www.ctv.ca/servlet/ArticleNews/stor...1217?hub=Canada

Somehow I doubt there will be a deficit either.

However, I expect that the boom will slow down and some of temporary workers will be heading back to other provinces again.

So far, I have seen the same turnover of workers going west and back to Ontario. I noticed a slight turndown in certain warehousing and framing positions.

I am not aware of any dramatic changes.

There is no reason or justification to run a deficit in Alberta.

[Canadian Blue]

I'm glad I didn't vote for the PC's in the last election. They haven't shown any fiscal restraint and have been throwing money around like drunken sailors at a whorehouse. Needless to say in the next election I'll be voting for the Wildrose Alliance or another pro-free market party.

[Hydraboss]

Everyone I know in the O&G sector is looking forward to being able to skid the bottom 20% of their workforce. I'm not referring to workers from any particular province, just the younger ones that have never actually had to look for a job.

Wake up at 10:30am.

Smoke a joint.

Shower (sometimes).

Get buddy to drive you around Nisku and fill out five applications.

Home by 1:30pm.

Play XBOX until it's time to go to the bar.

Accept whichever voicemail offers you the most money (as long as you don't have to work evenings or weekends).

Take your days off and another week besides just for the hell of it.

When your boss gives you that "what the hell..." look, return it with a stunned look and say "what? I don't see the problem."

Repeat as necessary.

As for the Alberta PC's (aka - the Federal-Provincial Liberal NDP Coalition of Alberta), they are a disgrace. Especially under Eddie the NDP'er. I think we may actually see a resurgence of the Wildrose party next election now that the Alberta Liberals have chosen the left-wing D. Swann. Eddie's an idiot farmer (as opposed to the farmers I know personally who are actually pretty decent guys) and is scared of his own shadow.

[jdobbin]

Needless to say in the next election I'll be voting for the Wildrose Alliance or another pro-free market party.

You could run your yourself.

[fellowtraveller]

No big deal.

Sooner or later, we'll see a rerun of the big axe that Klein swung i the mid 90s, Stelmach will axe several thousand civil servants.

nobody will care exzcept Brian Mason.

[jdobbin]

No big deal.

Sooner or later, we'll see a rerun of the big axe that Klein swung i the mid 90s, Stelmach will axe several thousand civil servants.

nobody will care exzcept Brian Mason.

When will this be happening?

[Topaz]

I'm glad I didn't vote for the PC's in the last election. They haven't shown any fiscal restraint and have been throwing money around like drunken sailors at a whorehouse. Needless to say in the next election I'll be voting for the Wildrose Alliance or another pro-free market party.

When I heard this on the news I couldn't be this!! What happen to all the money they were BOOSTING about and giving the people back what $400.00??? I guess Conservatives don't believe in SAVINGS for a down turn??

[sharkman]

Whatever they might boost about, a deficit does not mean there is no savings. It means that for a given year, the government's revenue is less than spending. This does not include any savings from past years, just income and spending for the one year.

[Canadian Blue]

You could run your yourself.

I've considered it, but if all goes well I'll be a mountie somewhere in the boonies where I can hopefully keep myself isolated from the idiocy of politicians. Besides, at my young age I doubt I'd be a viable candidate.

When I heard this on the news I couldn't be this!! What happen to all the money they were BOOSTING about and giving the people back what $400.00??? I guess Conservatives don't believe in SAVINGS for a down turn??

Topaz, Goddamnit.

They will be dipping into the savings to avoid the deficit, however in my mind it's still a deficit, and the PC's are still incompetent.

[Hydraboss]

You said it. Stelmach the Liberal-NDPer couldn't balance a teeter-totter.

But I'm sure the latest $140 million dollar "Arts and Culture" fund and others like it will be of great relief to the food banks and shelters that will pay for this "downturn" and deficit. The far-left wing PC's in this province will spend us into oblivion just like the Maritimes.

I've always said that Eddie would make a wonderful Deputy Minister of Agriculture.

[fellowtraveller]

When will this be happening?

Next budget.

The only people whining will be the public sector unions.

I always enjoy the slamfest on Farmer Ed Stelmach.

They remind so much of how horribly badly his opponents underestimated Klein year after year after year.

Sucked to be them.

[jdobbin]

Next budget.

The only people whining will be the public sector unions.

I have seen no evidence that Stelmach is looking to cut anywhere. In fact, just the other day, he said he would continue spending on big projects.

[fellowtraveller]

I have seen no evidence that Stelmach is looking to cut anywhere. In fact, just the other day, he said he would continue spending on big projects.

Really, what do you care about what Alberta does as long as they keep funding your province?

Now run along.

[applejack]

I bet that Eddie is hopeing that Ralph had put the $400 bonus to all Albertan's in the bank a couple of years ago. He could use it now.

I'm sure that he will unleash his hitman Ron Liepert to do nasty deeds of cutting and slashing.

[fellowtraveller]

I'm sure that he will unleash his hitman Ron Liepert to do nasty deeds of cutting and slashing.

Good.

Overdue.

[eyeball]

Everyone I know in the O&G sector is looking forward to being able to skid the bottom 20% of their workforce. I'm not referring to workers from any particular province, just the younger ones that have never actually had to look for a job.

My kid ("kid", he's turning twenty soon ) and his girl-friend just moved up to St Paul along with a small gang of ex-patriot local friends. They all looked for and found jobs it seems and have settled into a house they all share. They sound like they're all having the times of their lives. I recall when I came out west with my buddies and started fishing and logging for a living. The world was our cherry and all we had to do was go pick it.

Anyhow, my kid is working on a hyro-vac(?) truck. Pumping oil contaminated with sand and water from tanks and trays as he called them around pumps and drill rigs. I guess in the old days they used to just let this spill onto the ground but now they recover it and take it in for processing.

How secure is a job like that these days? He's 6'2", strong as an ox and not afraid of getting dirty.

[applejack]

He has already started with the Seniors of Alberta.

[eyeball]

You mean he'll be a right-winger by the time he's 21?

[Hydraboss]

My kid ("kid", he's turning twenty soon ) and his girl-friend just moved up to St Paul along with a small gang of ex-patriot local friends. They all looked for and found jobs it seems and have settled into a house they all share. They sound like they're all having the times of their lives. I recall when I came out west with my buddies and started fishing and logging for a living. The world was our cherry and all we had to do was go pick it.

Anyhow, my kid is working on a hyro-vac(?) truck. Pumping oil contaminated with sand and water from tanks and trays as he called them around pumps and drill rigs. I guess in the old days they used to just let this spill onto the ground but now they recover it and take it in for processing.

How secure is a job like that these days? He's 6'2", strong as an ox and not afraid of getting dirty.

If he's running hydrovac out east (heavy oil country) he's playing russian roulette with everybody else. The advantage of being around St. Paul is that the sites he's on are in-field drilling (not typically the "exploration wells" that the producers cut back on). These are known reserves and already online. That being said, if he's actually willing to work...he will. The 20% I'm talking about are the lazy little bastards that think the patch owes them $75,000 a year and a company truck just because they are willing to show up once in a while. If your kid shows up and puts in an honest day when he's there, word gets around quick. I'd hire about 100 of them right now if I could find them.

The more the ranks are thinned of the dead weight, the more opportunity the decent ones have. Your kid will be fine.

[eyeball]

The more the ranks are thinned of the dead weight, the more opportunity the decent ones have. Your kid will be fine.

Thanks, I kind of thought so too.

[fellowtraveller]

He has already started with the Seniors of Alberta.

Yeah, the bad mans of the Tory party are making seniors who have big incomes pay for drugs, while forcing poor seniors to take them for free.

Scandalous.

[Yorkness]

I think it's great Klein is starting to make sense to people; finally. Anyways everybody from Jane and Finch seems to be here to stay.

[daniel]

Conservative government in Alberta? Deficit? Impossible.