N.S. communities feeling pinch of oil...

N.S. communities feeling pinch of oil patch slowdown as job los...

There are 12 comments on the Penticton Herald story from Jan 25, 2009, titled N.S. communities feeling pinch of oil patch slowdown as job los.... In it, Penticton Herald reports that:

Allan MacDonald didn't think the good times would ever end. The Cape Bretoner and his young wife were living in a $320,000 home, driving two brand new cars and pulling in an income that would make his friends ...

Join the discussion below, or Read more at Penticton Herald.

“Continually Updated from Net”

Since: Jan 07

A PBS place in an MTV world

#1 Jan 25, 2009
... guys are returning."

The trend is worrisome for many of the small, economically depressed towns throughout Atlantic Canada that saw men and women head west in droves for the promise of quick cash.

New Waterford became an epicentre for the phenomenon ...
Comment?

Related Topix: Cape Breton Regional Municip., NS, Nova Scotia, New Waterford, NS, Grande Prairie, AB, Alberta, North America, World News
siloviki

Sherwood Park, Canada

#2 Jan 25, 2009
Thats what an unregulated stock market does for you.

Speculative booms, fatcats getting rich, gov'ts not controlling inflation, loving that tax revenue, "the market must run free, it's supply and demand don't you know" and then crash.

People are just statistics to the powers that be.

“The first free-roaming Oracle”

Since: Sep 08

Vancouger

#3 Jan 25, 2009
It's so easy to fleece the sheeple because everyone believes all the fraud that they are fed.

People are statistics, because there are few free thinking individuals anymore.
Today

Toronto, Canada

#4 Jan 25, 2009
Is Ontario's industrial economy in irreversible decline or can it rebound in the near future?

In irreversible decline
41% 4184 votes
4184 votes

Can rebound
59% 5915 votes
5915 votes

http://www.theglobeandmail.com/servlet/Page/d...
Nightflyer

Millbrook, Canada

#5 Jan 25, 2009
Do You know what the letters stand for in Syncrude?...

So You Newfies Can Receive Unemployment Down East.

Seriously though, I kept saying to myself about the boom and all the people from back home buying the big machines and building the big homes...what if things slow down?..what will you do? Are you saving any?...or are you buying things like a millionaire?

I worked for an oil co. down east some years ago. Bought a used vehicle while many of the guys on site laughed their azzes off at me. When the project/contract was over, I was laughing at them.

Nothing wrong with the enjoyments of good pay and life, but don't over do it I say.
Nightflyer

Millbrook, Canada

#6 Jan 25, 2009
Can anyone explain to me about how OPEC wants to somehow raise the price of a barrel of oil?

When times were "better", they say the demand is up, so prices are up.

Now the world economies have cooled, demand is down and the price per barrel is way down.

So OPEC meets to see if there is a way to get the price back up again, reagrdless of the demand factor. So what's their prob?...oil used to be $30 a barrel and they still made great profits....Why the manipulation?
siloviki

Sherwood Park, Canada

#7 Jan 25, 2009
Nightflyer wrote:
Do You know what the letters stand for in Syncrude?...
So You Newfies Can Receive Unemployment Down East.
Seriously though, I kept saying to myself about the boom and all the people from back home buying the big machines and building the big homes...what if things slow down?..what will you do? Are you saving any?...or are you buying things like a millionaire?
I worked for an oil co. down east some years ago. Bought a used vehicle while many of the guys on site laughed their azzes off at me. When the project/contract was over, I was laughing at them.
Nothing wrong with the enjoyments of good pay and life, but don't over do it I say.
While we don't seem to agree on much NF, I have to say that you are very centred when it comes to being pragmatic, and that people like you are not the cause of this crash.

It's those others you talk about, along with of course the "speculators" the banks and the see no evil hear no evil gov'ts with their heads buried in the sand, living la vida loca like it will last forever.

Hope this recession won't affect you at all, because even tho idealogically while we may be far apart on a lot of things, I definately will vent my anger on behalf of people like you should you be caught up in this entirely avoidable economic trainwreck.

I have empathy for those that live within their means, those who do not, I don't cry one tear and will save some of my most potent venom for you.
siloviki

Sherwood Park, Canada

#8 Jan 25, 2009
It wasn't a year ago that everyone I talked to said you're crazy, the world needs oil, this isn't going to end.

It did before, in 1982, and one other on our jobsites saw it happen before. The stormclouds were on the horizon and we would talk about it whenever we were on the site together. When the price of oil spiked dramatically I said that there were other factors at work here. It wasn't the supply and demand factor that was being shoved down our throats, it was a classic bubble driven by the collapse of financials, which then drove a classic bubble in the housing market because "people didn't want to miss the boat". The thing that really collapsed this was those who financed the bubble, the banks, with their borderline criminal lending and "accounting" practices, the same ones that now are throttling the economy because they got their hands burnt off.

May you stay out of the bank's clutches NF.

“Continually Updated from Net”

Since: Jan 07

A PBS place in an MTV world

#9 Jan 26, 2009
Sorry if great feedback as above doesn't come from here all the time as so much B/S rolling out, like this weekend it's hard to define what's real etc.

eg. Related Stories: NOT Shown 29 more stories Shown only top 3 stories

* National Post - Darcy Meyers: Liberals and Tories need to put a firewall between Bloc and federal agenda

* The Globe and Mail - Low debt load will help us weather recession

* 24 Hours Vancouer - Student debts now at $13 billion across Canada

yes the spelling mistake above is how they put it out, shovelling so much in a short period of time

Since: Apr 07

Millbrook, Canada

#10 Jan 26, 2009
siloviki wrote:
<quoted text>
While we don't seem to agree on much NF, I have to say that you are very centred when it comes to being pragmatic, and that people like you are not the cause of this crash.
It's those others you talk about, along with of course the "speculators" the banks and the see no evil hear no evil gov'ts with their heads buried in the sand, living la vida loca like it will last forever.
Hope this recession won't affect you at all, because even tho idealogically while we may be far apart on a lot of things, I definately will vent my anger on behalf of people like you should you be caught up in this entirely avoidable economic trainwreck.
I have empathy for those that live within their means, those who do not, I don't cry one tear and will save some of my most potent venom for you.
Credit got some people just about killed. I have a friend and his wife who together bring in really good income. Guess what?...they're lucky at the end of the month if they have enough to spare and save. I have no pity or compassion for them at all. Reap what you sow!
Our society and the USA have an awful record of people who do not save. It's give me give me give me all the time.
Sure, have fun and enjoy but so many over do it. Why not save for the big items sometimes instead of whipping out the credit card or another loan?

I saw on tv a few weeks ago where a man and his wife together bring in $9000 a month. They have to declare bankruptcy because they no longer can keep up with their monthly bills and payments. I'm thinking.."WTF?!!"

Since: Apr 07

Millbrook, Canada

#11 Jan 26, 2009
siloviki wrote:
<quoted text>
While we don't seem to agree on much NF, I have to say that you are very centred when it comes to being pragmatic, and that people like you are not the cause of this crash.
It's those others you talk about, along with of course the "speculators" the banks and the see no evil hear no evil gov'ts with their heads buried in the sand, living la vida loca like it will last forever.
Hope this recession won't affect you at all, because even tho idealogically while we may be far apart on a lot of things, I definately will vent my anger on behalf of people like you should you be caught up in this entirely avoidable economic trainwreck.
I have empathy for those that live within their means, those who do not, I don't cry one tear and will save some of my most potent venom for you.
Now don't go jumping up and down with excitement but you may be surprised who I may vote for the next time around...LOL

Just about everyone who knows me on this site knows I tend to be more of a conservative voter(not always but most of the time)...but I've yet got to try and understand why a PM says he cares about his fellow Cdns and the economy but yet awards the contract for the new 1,300 heavy duty trucks for the military to Navistar Texas instead of the Navistar plant in Chatham Ontario!
paul shykora arts

Calgary, Canada

#12 Jan 26, 2009
budoracle wrote:
It's so easy to fleece the sheeple because everyone believes all the fraud that they are fed.
People are statistics, because there are few free thinking individuals anymore.
...amen...true.....eh.

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