Darn economy!

[Tarolisol]

Wow I never really though it was that bad, but now that I see it effecting people it sucks. It seems the worse the economy gets the more people turn towards my work. (liquor store)

[Slick Fork]

I'd also have to agree that this is probably a once in a lifetime opportunity to be buying stocks in Solid companies. Every spare dollar I get is going into investments right now. It's just a waiting game

I hate to say it since so many people are involved with oil and gas but I have a hard time feeling sorry for that industry. It wasn't that long ago when $40 a barrel was causing people to jump up and down for joy and my sympathy ends when we're still paying 80cents/litre for fuel. Exxon mobil posted record setting profits this last year.

As for us, peoples horses still need shoes so we're still busy. We've just discovered that it's a little riskier to accept cheques these days

[midgetwaiter]

Originally Posted by Electric eel

If people would just stop watching the news there would be no economic meltdown! Its all caused by media hype.

IMO it's how shallow the media reporting is on the situation that gives people that impression. The problems that brought this mess on are 3 1/2 years old but most people couldn't understand what the impact of it would be. The smart money went to hedge funds and the rest of us sat there wondering why commodity prices were rising so fast. We should all remember that little warning sign for next time.

I think if the media really did a good job of getting the story out there into the minds of the average person there the guys that came up with these mortgage back derivatives would be up against a wall asking for a last cigarette. Provided the bond raters were next to them I'd support the idea.

[Powertec]

Originally Posted by Slick Fork

I hate to say it since so many people are involved with oil and gas but I have a hard time feeling sorry for that industry.
:

We'll and i hate to sound harsh..But because that industry has made some much money in the last few years that we the people who are working our tails off are what???
That we should just suck it up and get laid off? That we are any less worthey of employment than you?That because these companies pulled in billions of dollars that we are all loaded?We'll i am hating to bring it to everyone but I am just like every other working person out there. I went to University, i have student loans and mortgage payments. I have kids to raise. And i literally work my ass off up here but yet this province seems to have the mentality that "all those guys up north make to much money"
We'll i hate to purpose this but what is ALBERTA gonna do if the oil stops? What do we have going for us? We'll its not farming,or forestry and the coal was gone long ago. So what is it here? If you don't have the oil this province is a bust.
Yes don't get me wrong they can clean up some of the damage they are doing. But if it isn't for the oil companies keeping this province rolling jobs would be even far and fewer between than what they are now.

[Slick Fork]

Not saying you're less worthy of employment then anybody else, I feel bad for anybody who's been laid off or who's job is on the line. I've been there and it sucks.

What I have trouble with though, is the oil and gas industry in general screaming about how tough they have it when a few years ago they would've been thrilled with the money per barrel they're getting now. Especially when the cost to fuel up my truck hasn't gone down with the price of oil. Oil and Gas spent the last few years running roughshod over the province not giving a rats ass about the people who's land and lives they were rolling over and now they expect us to feel badly for them when the price of oil drops to more realistic levels.

I'm not so naive to believe that we can do without oil anytime soon, but I'm not going to say I'm sorry to see it slow down a little. And I do mean that with the utmost sympathy for anybody who loses a job over it.

[digital-audiophile]

There is a difference between the oil companies and those that work for them.

Sure, I live a decent lifestyle becuase I work in oil and gas and it keeps a roof over my head and food in the bellies of my family.. but trust me.. I am not living in a $5,000,000 house, nor am I driving a Ferrari.

Only those on the very top of the majors make the "big money"

[awa1979]

The oil companies profits are huge for sure when you look at it, but when you look at the total revenue of many of the companies, the profit margin for some is only around 10%, its not a cheap business to be in.

[Snaz]

Q: Why is oil selling for ~ $30.00 / barrel and I am paying $0.94 / litre?
A: Cash grab by the oil companies and their distributors.

Shameful. Nothing improves an economy quicker than cheap gas, why are we not being passed the savings by the oil companies?

[Tom R]

Don't you just get sick and tired of the oil companies. They close a refinery putting people out of work. Then the next day they increase the price of gas due to production shortages caused by the closed refinery. If it isn't the oil companies its the oil speculators.

Tom R

[hillbillyreefer]

If you don't like how the oil business is run, put up a few million of your own bucks and start one. Then you'll get it.

I don't make a living off the business and I don't feel sorry for them, but they are in it with us. Their costs have risen dramatically over the last few years, service companies want their piece of the pie too. Now the oil companies are cutting back and everyone is complaining. Once the service companies cut back their prices they'll go back to work. It's a cycle it's happened before and it WILL happen again.

I do feel for everyone who has lost their job. I do hope it will be short lived. You never know maybe your next job will be the one that makes you want to go to work, instead of just have to go to work.