Oilsands Employment Forecasts HALVED

[Jack]

-Recent delays of major oilsands projects means only half the estimated 44,000 construction workers will be needed at peak demand in 2010,an economic conference heard Thursday. -As recently as a year ago, half the 10,000 construction workers at Canadian Natural Resources`s Horizon project were being flown in from Eastern Canada. Now Phase 2 has been delayed, along with other multibillion-dollar projects, including Petro-Canada`s$23.8-billion Fort Hills mine and upgrader.

-companies are not so concerned about the drop in the TSX composite index, but the economic slowdown was the last straw on top of rising construction costs, changes to capital cost allowances and royalties, and concerns about climate change.

-The capital cost of a 100,000-barrel-a-day project has jumped from $3.3B in 2001 to as high as $11B, and it`s still rising

Link: http://www.calgaryherald.com/Employment+fo...5020/story.html

 

[wgraham]

Here are the positive points from the exact same artical.....



- There are still labour shortages out there; it`s just not as critical," Dyck told the Economic Society of Northern Alberta.

- that gives energy companies breathing room to deal with the shortage of skilled labour, soaring construction costs

- "When economic times become more friendly, we`ll see the projects go again."

- Meanwhile, there`s a great opportunity for companies and governments to plan for the next cycle by analyzing what happened in the last one and adjusting their labour strategy, Dyck said.

- But Alberta has so many resources "and people are going to want this stuff over time,"he said"We have to figure out how to survive the current zero-gravity environment, but the picture is really bright."

- A November survey of the construction association`s members showed plenty of optimism, Dyck said.

- Eighty-one per cent felt there would be little or no effect from the financial turmoil; 38 per cent were optimistic about their sector`s performance over the next five years; and 47 per cent expected reason-able growth in the Alberta economy. Twenty-four per cent were pessimistic about the future.

- During an international financial crisis, "of all the places you want to be, I think Alberta`s probably one of the best places," Johnson said.





Jack,

all I have to say, is that swords have two sides......

Cheers
Wade

 

[ZanderRobertson]

Wade,

I think I know why you wear that miner`s lamp on your head. It`s for peering behind curtains! Well done.

Now, I`m off to fuel up my vehicle, go to a movie, make my mortgage payment, buy christmas presents and go on an overseas Christmas vacation. Oh, and buy a basket of goodies for my tenant.



QUOTE (wgraham @ Dec 5 2008, 04:43 PM) Here are the positive points from the exact same artical.....



- There are still labour shortages out there; it`s just not as critical," Dyck told the Economic Society of Northern Alberta.

- that gives energy companies breathing room to deal with the shortage of skilled labour, soaring construction costs

- "When economic times become more friendly, we`ll see the projects go again."

- Meanwhile, there`s a great opportunity for companies and governments to plan for the next cycle by analyzing what happened in the last one and adjusting their labour strategy, Dyck said.

- But Alberta has so many resources "and people are going to want this stuff over time,"he said"We have to figure out how to survive the current zero-gravity environment, but the picture is really bright."

- A November survey of the construction association`s members showed plenty of optimism, Dyck said.

- Eighty-one per cent felt there would be little or no effect from the financial turmoil; 38 per cent were optimistic about their sector`s performance over the next five years; and 47 per cent expected reason-able growth in the Alberta economy. Twenty-four per cent were pessimistic about the future.

- During an international financial crisis, "of all the places you want to be, I think Alberta`s probably one of the best places," Johnson said.





Jack,

all I have to say, is that swords have two sides......

Cheers
Wade