Weekly Market Update, Dec. 7/18

This is starting to get scary...

And we ain't seen nothin' yet. Lots of bargains coming up in Ft. McMurray and Drayton Valley.

Yeah, I was referring to condos.

Thanks Turdeau. Thanks Nutley.

@Tom

Houses look somewhat within the normal range, but yes, it looks like it's a great time to buy a resale condo.

P.S. Don't actually go buy a resale condo yet. It will get better. I was just channeling my inner REALTOR Board Chair.

Itchy - let's not forget back in those days oil was floating around $100 a barrel. Oil companies were making money hand over fist and Harper and the alberta PCs had all the political capital in the world and still couldn't achieve the holy grail of getting an Alberta pipeline to tidewater.

To lay this current price differential at the feet of current governments is laughable. The writings been on the wall for at least 10 years. Harper and the PCs were just had their butts covered by a decade of high oil prices.

I love people who blame the government for their problems... They are always the first one with their hands out when things go south.

P.S what was it 10 years with a conservative government in Ottawa and Alberta at the same time? How many pipelines were built during that time period?

Greg,
You should do some research before you ask a question you think you know the answer to. The answer is a least 8000 km of oil pipelines were built during the Harper years. Refer to a May 17th 2018 Calgary Herald article. There were notable delays in Line 3 and Keystone XL, but they were on the U.S. side which the Canadian government does not have a say.
Now look at Trudeau and Notley's record. Northern Gateway cancelled. Tanker ban north coast. Changed the rules for Energy East so pipeline was shelved. Spent 4.5 billion tax payer dollars on buying a pipeline that was going to be built using private money. We'll see if it actually gets built. Then Notley, who never had anything good to say about the energy industry in opposition, thought that shutting down coal fired plants (costing tax payers billions) capping oil sands emissions, and raising the carbon tax twice would give her social license. I always laugh at liberal's making up their self important phrases. What she should have realized that over history, appeasement never works with true believers. Zealots don't change their minds....ask Neville Chamberlain. So we are where we are. No pipelines built, higher taxes, and a great smouldering crater in the provincial budget.

looks like a promised soft landing , thank you Trudeau and Notley ( not sarkasmus ) , still seat on the fanse , hope it will drop more .

I'm a millenial. Most people my age are against the oil industry and pipelines, The baby boomers are not going to have to deal with climate change, I will. You better believe that when millenials get into power, the oil industry will be shut down. I do not want anymore support for the oil industry, as Alberta needs to shut it down as Trudeau has said. Notley has done a great job at shrinking the oil industry as a percentage of GDP through diversifying Alberta's economy. I'll admit, every government talks about it for Alberta, but Notley's actually doing something. The oil industry will become smaller and smaller until it's nominal.

Tom
I can tell you are a millennial by the lack of life experience in your comment.

Tom, This millennial respectfully disagrees with your position. Many millennials in this province have no illusion on how we have low taxes and good wages. When Toronto and Vancouver figure out they can’t sell houses to each other for more and more money with rising interest rates and tighter regulations they’ll be begging for resource based jobs. Alberta has done a phenomenal job of consistentantly engineering better and more efficient ways to extract our resources. When we stop commercial agriculture, have real alternatives to gas cars, can mine batteries from fairy dust and using more and more plastics in everything the oil industry may start to shrink....but for now the use of oil continues to rise. Any argument today against the oil sands is just another puzzle waiting for someone to engineer a solution.

Well, Tom, “most people (your) age” better stop driving cars, travelling the world via airplane (or via anything except bicycle or horse), stop buying crap from Ikea (or anywhere else), or using the furnace in their house.

Got a car, Tom? Ever been oversees? Experienced the wonder of a heated building? How about purchased clothing?

Climate change is real. It’s a problem. We need to de-carbonize. But it takes energy to build nations and move goods and people. And we don’t have the replacement yet. In the meantime, would you prefer Alberta Oil, with money that goes to good paying workers and an equitable, in corrupt democracy, or Blood Oil from Saudi or Russia. Give your head a shake kid.