Alberta Royalty Review = The death of the Alberta oilpatch

[StirCrazy]

what a lot of you people need to understand is the "Oil Patch" is out of control in Alberta. my home town that 18 years ago you could get a house for 60K, now the same house is listing for 400+K is that right... no.. Alberta is so artificially inflated right now it isn't even funny, and because of that I cannot afford to move back when I retire with out working. Grab a clue... when minimum wage jobs are paying 20.00/hr something is wrong and the economy can only support it for so long.

Alberta needs new developments like a hole in the head, what they need to do is suck back and invest in making existing sites more profitable instead of doing the bulk drilling. Now I have 3 cousins that between them own two drilling companies and I an still in touch with them so I am not exactly talking out my ***. they don't know which side to be on but they do agree Alberta is out of control and something needs to be done.

[Matt]

Higher royalties will slow down investment and new drilling? And that's bad news how?

There is no imperitive to extract all the hydrocarbons as fast as possible. We're selling our house, brickload by brickload, and all the while cackling about the money we're getting. Are we getting enough to build a new house (economy) when the bricks are gone?

[Pan]

Originally Posted by Zylumn

My father in the 50's worked for shell oil co. as a driller. He has mentioned there are still dozens of wells that are still producing that he drilled in the 50's. He is not reaping the benefit of those wells as I am not but hopefully my grandchildren will.
Kevin

My father work out at the caroline gas plant (caroline alberta) he was a higher up there. It's going to run dry a good 20 years before they said it would. But that is the only one he knew of thaat did that. Internal estimates of their resources say they are not going to run out any time soon