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03-16-2016, 06:43 PM
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Join Date: Sep 2009
Posts: 2,187
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Quote:
Originally Posted by JustMe
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As an affirmed dipper and leftard, I will look at this through my rose-coloured glasses, and ass-u-me that they are "saving for a rainy day" so that they don't have to cut staff further, while weathering the oil price crash.
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"It'd be nice if...."
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03-16-2016, 06:46 PM
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Banned
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Join Date: Dec 2015
Location: Rocky Mountain house
Posts: 181
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I always laugh and get a kick out of guys who blame production side of oil and gas for "higher gas prices" you have no clue.
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03-16-2016, 06:50 PM
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Join Date: Feb 2012
Location: Blackfalds
Posts: 6,959
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they are saving for buying people out ie suncor and canadian oil sands.
my company had 73 billion saved up and we have bought numerous companies, including a 14 billion dollar acquisition, while reducing our workforce 25%
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03-16-2016, 07:25 PM
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Join Date: May 2007
Location: Calgary
Posts: 5,147
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Maybe keep some staff and do a bit of the clean-up their t.v spots go on about.
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Former Ford Fan
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03-16-2016, 07:35 PM
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Join Date: May 2015
Posts: 1,414
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Quote:
Originally Posted by Shawnw
I always laugh and get a kick out of guys who blame production side of oil and gas for "higher gas prices" you have no clue.
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I'm not sure anyone is blaming production. In a lot of cases, the producers are also the retailers. PetroCan, Shell and for now Esso etc.
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03-16-2016, 07:47 PM
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Join Date: Feb 2016
Location: Red Deer
Posts: 124
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Most of these companies do not have large amounts of organic cash on hand. Most of it is from equity raises or debt issuances. Furthermore, the jobs picture will look different as the new royalty program will focus on a revenue - cost application therefore the ability for services companies to raise prices dramatically/incrementally will be greatly reduced. The next oil boom will be finally based on per share profitability as opposed to per share/growth or per share/cashflow. This is what will make the industry sustainable in the long haul.
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03-16-2016, 07:49 PM
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Join Date: Feb 2016
Location: Red Deer
Posts: 124
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The output fuel (gas/diesel) typically always trades in a range. It is the input prices that change and may cause the crack spread to either compress or blow out.
Quote:
Originally Posted by Shawnw
I always laugh and get a kick out of guys who blame production side of oil and gas for "higher gas prices" you have no clue.
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03-17-2016, 12:14 AM
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Join Date: Dec 2007
Posts: 2,051
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Maybe they can use some of this cash to clean up all the abandoned wells and sites instead of asking govt to use some of the precious infrastructure money to clean up there mess.
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03-17-2016, 01:34 AM
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Banned
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Join Date: Jan 2011
Posts: 4,090
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Quote:
Originally Posted by diamond k
Maybe they can use some of this cash to clean up all the abandoned wells and sites instead of asking govt to use some of the precious infrastructure money to clean up there mess.
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http://www.ctvnews.ca/politics/alta-...osal-1.2818490
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03-17-2016, 10:56 AM
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Gone Hunting
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Join Date: Sep 2010
Location: North of Peace River
Posts: 11,346
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Two things.
On a slow news day, distort, invent, incite.
Even a honest report seldom gives the true story.
The world of big money is not like the world we understand, Net worth, profit, equity and other concepts we think we understand take on a whole new meaning in the world of big money.
A company may show a net worth in the billions and not be worth more then a few hundred thousand if it were offered for sale.
That's exactly what The Donald is doing in this election. Claiming paper net worth rather then real net worth.
What I'm saying is, maybe it's true but then again maybe it's just a slow news day, or maybe some reporter was fooled by the games the big players play.
For me the bottom line is what's it matter. If I were to earn $100,000 a year and put $10,000 of that in savings, who would care.
Why should we care if a company with a net worth in the billions has a few million in savings? Why should we care if they have a few billion in savings?
Should I be flat broke because the economy is in a recession? If I can have savings now, why can't an oil company?
Beware of media agendas, they can lead to an NDP government.
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Democracy substitutes election by the incompetent many for appointment by the corrupt few.
George Bernard Shaw
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03-17-2016, 11:37 AM
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Banned
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Join Date: Sep 2013
Posts: 3,939
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Our economy is in bad shape, granted.
The future outlook would be much worse if these guys were broke.
It would likely mean no jobs in the oil industry for the next who knows how many years.
Would you rather that be the scenario?
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03-17-2016, 12:14 PM
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Join Date: Aug 2012
Posts: 2,169
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Suncor has shaved some jobs but cnrl and imperial havent.... more responsible management and some good old cash has saved jobs. Then there were the borrow to the eyeballs and slash to the bone companies, thankfully there is a mix of the two,lol!
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03-17-2016, 03:53 PM
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Join Date: May 2007
Location: Uh, guess? :)
Posts: 26,739
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What would you have them do with the cash? Invest in now-unprofitable ventures? Pay people hang around just for the fun of it?
These guy have to answer to investors. I'm one of them. You might be too. Unfortunately, investors often only look quarter to quarter.
This keeping piles of cash however, isn't a recent phenomenon or restricted to the energy industry. Lots of companies have been doing this, including buying back stock to up the price and further enrich stockholders. If you want companies to invest more in production they may have to change the tax environment.
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Quote:
Originally Posted by DevilsAdvocate
In this case Oki has cut to to the exact heart of the matter!
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03-17-2016, 06:16 PM
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Join Date: Oct 2009
Location: Okotoks
Posts: 1,073
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I laugh when I hear everyone complaining about the big companies have a savings account at the same time there is a constant thread of stories about "you should have saved some money during the boom times so you can have funds to get you through the bust everyone knows will come at some time"
They just did what everyone else should have as well, socked away some cash for bad time.
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03-17-2016, 07:13 PM
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Join Date: Jun 2013
Location: Bazeau County East side
Posts: 4,198
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Quote:
Originally Posted by Okotokian
What would you have them do with the cash? Invest in now-unprofitable ventures? Pay people hang around just for the fun of it?
These guy have to answer to investors. I'm one of them. You might be too. Unfortunately, investors often only look quarter to quarter.
This keeping piles of cash however, isn't a recent phenomenon or restricted to the energy industry. Lots of companies have been doing this, including buying back stock to up the price and further enrich stockholders. If you want companies to invest more in production they may have to change the tax environment.
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X2
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03-17-2016, 08:14 PM
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Join Date: Dec 2012
Location: At the end of the Thirsty Beaver Trail, Pinsky lake, Alberta.
Posts: 24,741
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Quote:
Originally Posted by justsomeguy
I laugh when I hear everyone complaining about the big companies have a savings account at the same time there is a constant thread of stories about "you should have saved some money during the boom times so you can have funds to get you through the bust everyone knows will come at some time"
They just did what everyone else should have as well, socked away some cash for bad time.
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Exactly, put the cash away and ride the low...easy. Pick up a part time job as a filler during the winter to put gas in the boat for the summer...or sit down south and watch the ocean with your toes in the sand...
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Be careful when you follow the masses, sometimes the "M" is silent... 
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