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CBC Report on OG Layoffs, tonight at 6

jason

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Aug 30, 2007
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I heard that there was some HR people on CBC radio this morning talking about all the layoffs in O&G due to low natural gas prices and lower drilling activity... I didn`t catch it, but they`re apparently having a news item about it on CBC tonight at 6pm (in Calgary I assume). They said that the layoffs will likely increase and that the oilsands aren`t picking up the slack.

If someone catches it could they share what they say here for everyone? I`ll probably be at work so I won`t be able to see it. Just want to see if they have any real numbers.
 

DonCampbell

Investor, Analyst, Author, Philanthropist
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Aug 22, 2007
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This is exactly what we have been warning everyone about for the last 12 months. Gas EXPLORATION is a very cyclical industry. No surprises here, and with Alberta`s job growth continuing, these workers will be absorbed into the workforce over the coming months (if they want it). Many are deciding that they want to take a few winter months off and travel as they have been working so hard over the previous 2 years.

Another reason why we tell investors not to invest in one horse towns unless they are prepared to ride the cycles.
 
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