CBC Report on OG Layoffs, tonight at 6

[jason]

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.

 

[BMironov]

Hi Jason,



Here are few links from MyREINspace that should answer your question:



http://myreinspace.com/rein_members_only/News_Archive/96-668-September_2007_Market_Research.html

http://myreinspace.com/rein_members_only/Members-Only_Discussion/81-702-Oil_and_Gas_Industry_Discussion.html



Best regards,

Boris

 

[DonCampbell]

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.