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Will Fort McMurray become just another ghost town?
Tue, 2015-12-08 15:39
#1
Will Fort McMurray become just another ghost town?
Tue, 2015-12-08 15:40
#2
Just askin'
Energy and Mining Producers Reeling as Price Collapse Deepens
http://www.nytimes.com/2015/12/09/business/anglo-american-to-cut-85000-j...
Tue, 2015-12-08 15:43
#3
Let's just put it this way:
Probably not a good time to purchase a house in Fort McMurray, and if this keeps up, it may not be wise to purchase real estate anywhere in Canada in the forseeable future.
Tue, 2015-12-08 17:45
#4
I'll be going up there for the holidays, if I remember I'll post some updates and maybe pictures.
Tue, 2015-12-08 19:37
#5
Canadians, and in particular Albertans, will now pay a very heavy price for Harper's 10 years of brain-dead economic policies.
Alberta unemployment rate to surpass national average in 2016: RBC
http://calgaryherald.com/business/energy/alberta-unemployment-rate-to-su...
Tue, 2015-12-08 20:01
#6
montrealer58
They will of course blame Notley and the NDP for all of their misfortunes.
Tue, 2015-12-08 20:22
#7
oh they already are and are trying to roll out a recall
Tue, 2015-12-08 22:57
#8
Blame Canada: Greedy for oil money, the country is turning into a rogue petrostate
http://grist.org/news/blame-canada-greedy-for-oil-money-the-country-is-t...
Tue, 2015-12-08 22:58
#9
Fear grips market as oil leads commodity crash
Oil prices have buckled following the breakdown of Opec talks last week, but Chinese commodity demand is actually picking up
http://www.telegraph.co.uk/finance/economics/12040314/Fear-grips-market-...
Wed, 2015-12-09 02:54
#10
Blame Canada: Greedy for oil money, the country is turning into a rogue petrostate
http://grist.org/news/blame-canada-greedy-for-oil-money-the-country-is-t...
Was Norway any less greedy for oil money when they implemented the oil-based savings policies that are held up as a model of what Alberta should have done?
I mean, in order to have all that oil money to put into a nest egg, Norway had to WANT oil money to begin with.
Wed, 2015-12-09 11:23
#11
montrealer58
The amount of misinformation, propaganda and outright bullshit in the energy business is a continuing marvel to unfold. The news I have from China is that they have actually slipped into the net supplier column. Grams of CO2 emitted per $ of GDP is falling faster than oil consumption is rising.
Fri, 2015-12-11 15:50
#12
If I was a homeowner in Fort McMurray I think I would sell right about now. The party is over folks.
Russia plans $40 a barrel oil for next seven years as battle with Saudis intensifies
http://www.telegraph.co.uk/finance/economics/12046185/russia-opec-saudi-...
Wed, 2015-12-16 14:41
#13
Is the same thing happening, or gonna happen, in Kitimat?
Typical Real Estate Industry horseshit! No wonder no one believess anything they say anymore if they ever did.
Fort McMurray's fall: A housing bust hits Canada’s energy boomtown
“Business as usual” is how Marian Barry describes the real estate activity in Canada’s oil sands boomtown.
The former president of the Fort McMurray Real Estate Board acknowledges there has been a change in what was once among Canada’s hottest housing markets as a result of the crash in crude oil prices and the tens of thousands of layoffs that have followed over the last year. She nonetheless remains optimistic.
http://www.bnn.ca/News/2015/11/17/Oils-collapse-drags-Fort-McMurrays-hou...
Fri, 2016-01-15 20:30
#14
So I was up there for a week or so at XMas. Traffic is still about the same as it was before the price of oil crashed, back when things were booming. So if that's our canary in the coal mine, then the air in the mine is getting bad but the canary is still alive. From what I gathered most of the layoffs in Ft Mac have been on the big construction projects that were going on north of town. Before, workers would move from megaproject to megaproject, now, once the work is done it's layoffs. Or no new work to be found.
So lots of fewer people living in the big giant camps north of town, no real impact yet on traffic in town. All sorts of stores still open up there.
If you've never been there it's worth the trip.
Fri, 2016-01-15 20:34
#15
On a local level, I have heard of layoffs and job losses due to the crashing price of oil, but there's still quite a lot going on in the field, natural gas still seems to be busy. No stores in town have gone out of business or anything, traffic seems unchanged.
I wonder what they will do with all the hotels that were built recently. Can't build an apartment building in this province for some reason, but hotels going up all over the place.
Sat, 2016-01-16 15:43
#16
just wait for the energy junk bond market to collapse..the only thing keeping these companies going....
but let´s not localize the problem.....the real estate market collapse in Alberta won´t be localized....and as the loonie continues its collapse, the bankster Central bank financing our oligarchs and their corporations will be forced to intervene...then watch the explosions...and if not? And the loonie continues its fall, what are we to eat what with 80% of our foods imported? How will we pay for our imported electronics ad nauseum?
And of course its not just the energy corps...what about all our precious commodities going down the tube as our system of globalization implodes, the demand nonexistent?
Let´s face the ugly reality, Canada has hitched its wagon to globalization now some 28 years, everyone! commentators, politicians, intellectuals...all praising this miracle of modern development!
It was all a lie! How will we ever recuperate our country what with the near destruction of our local economies...where will we ever find the leadership to offer something alternative to globalization? Certainly not the presstitutes in the media and universities and think tanks and the political parties!