Oil Prices drive Shell to cut Canadian Jobs

Shell is cutting hundreds of jobs in Alberta as oil price drops change everything.

Already, some companies have put longer-term oil sands projects on hold until markets stabilize, which analysts say may not start to happen until at least midway through 2015. And service industries that support the sector have cut jobs as business has slowed.

Northern Alberta’s oil sands have among the highest development costs in global energy, so operations are particularly vulnerable to skidding crude prices. North American benchmark West Texas Intermediate crude fell 43 cents to $48.36 a barrel on Friday, down from more than $100 in June.

Shell said it is laying off less than 10 per cent of the 3,000 workers at the Albian Sands project, one of five major oil sands mining ventures.

A spokesman for the company declined to give exact job-loss numbers, but a labour official in Fort McMurray, who does not represent Shell workers, pegged them at around 200.

Read the full article here.

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Alison
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Alison

We ended up in a lot of trouble with the previous SEO company we hired, I been doing a bit of research on it myself and next time we are probably going to hire someone in-house to have a
go

Slagathor
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Slagathor

…East Van is the “new westside” –…

Darn! It was only a year ago that Bob Rennie was pushing East Van as the ‘New Shaughnessy’. So in about a year, East Van has gone from the ‘New Shaughnessy’ to the ‘New West Side’. Next year East Van will be the new ‘East Van’. The year after that East Van will be the new ‘Hastings and Main’.

StupidityCheck
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StupidityCheck

The last three Januarys, Paul’s inventory had increased over 2,000 by month end. So far this January, it’s increased about 700. Regardless of what WSNR (or his new CanucksBoy alias) says, there is no surge of listings.

history
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history

hey, hey, hey, it’s Fat History here to put a smile on your face. and to let you know that that Grandma’s mobile home is now listed on Craigslist, Facebook, and Kijiji

http://www.kijiji.ca/v-house-for-sale/delta-surrey-langley/lovingly-renovated-and-maintained-mobile-home/1044492183?enableSearchNavigationFlag=true

40 x 18 Single wide with additions. 2 bedrooms, 1 bathroom with walk-in shower. Natural gas furnace, hot water tank, stove and fireplace. New A/C. Covered decks front and back with garden spaces. 2 outdoor sheds and electric lawn mower included. Conveniently located by IGA, bus stop and Artful Dodger. Steps from mailbox and laundry. Outdoor swimming pool in summer months and a great clubhouse with pool tables, shuffleboard, darts and social getherings. Quiet and friendly 55+ park. Pad rental 469.00 p/m includes garbage pick up, sewage, laundry (coin-op) & parking.

$29,000

that is Not a typo….

CBC
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CBC

@rentersrule

wake me up when we hit 15k tl.
10700 is still lower than the last 4 january’s
Regarding your noodly appendage, i really nailed that one on the head didn’t I?
see what i did there

CBC
Guest
CBC

@mortgageslave

scenario: prices decline so there is mass rush to sell. Your landlord sells his 1.2 mil house for 1.1 and thus you are evicted. You grin as you think you’ve had the last laugh over the bulls. Then you go on craigslist to look for a new home. happy?

CanucksBoy
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CanucksBoy

My worry now is who will want to move into the west side even after the crash?
The polarization, of our society on racial lines has become so extreme that even if westside was affordable – now that the white flight is in full swing, can it be reversed?

East Van is the “new westside” – the real young upwardly mobile, dynamic and and artistic/intellectual types are committed to the eastside – i know many of these young couples – when they buy – it will be in East Vancouver.

Westside Realtor
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Westside Realtor

Agreed, inventory is remarkably low, overall.

Sales on the westside have been slow for months (and no pricing pressure (upward) at, in fact quite the opposite).

Alberta listings only started to SCREAM higher as fear built and prices softened.

I am supposing that is the catalyst for all the calls our office is getting from HAM regarding selling their properties (way more calls to SELL now than to buy, no question about it). I suppose that with China properties declining for months and months and months on end, that sentiment towards RE may shift (and now our RE doesn’t come with a guaranteed passport).

Why do they all seem like they want to dump at the same time? Human nature I suppose.

Hope the Hawks get past Rogers on Sunday! Has the makings of a great game…

WSR

renters rule
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renters rule

um…

a) Yes
b) what?! hahaha, I do not even know what that is!! hahaha

@Westside
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@Westside

quit upvoting and downvoting multiple times via VPN you child.

@Westside
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@Westside

Ummmm….renters rule.. enjoying life are you?

renters rule
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renters rule

woooohooooo ya sure, 40,000 accelerated immigrants EVERY DAY, they will all come to Vancouver and house prices will be at $37 ga-gillion before 2020!!!

Garth already tried to explain to you what is actually happening, you are so stoned on the koolaid, you could not follow. For your own good, stay away from the koolaid?!

renters rule
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renters rule

Inventory is surging much earlier than the usual spring (March 21 is still 2.5 months away, they don’t call it the winter selling season!!) runup! 😉

We’ll see how much has been added by the end of the month. And then again by the end of February.

Oil down again today, stock market kicked in the gonads again, dollar continuing to swoon. A lot of over-extended investors getting nervous and panicking, which is a lot more sane than the original decisions to over-extend in RE in the first place.

@westside
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@westside

Ever hear of Express Entry Immigration? 40,000 applications to be approved on a SINGLE DAY…and yeah lots of HAM…..call the immigration consultants offices if you don’t believe me.

http://www.cic.gc.ca/english/express-entry/draws.asp

Shut It Down Already
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Shut It Down Already

53, check the historical data – this happens every new year as we go into the spring selling season. Nothing remarkable about it yet. Inventory is still incredibly low.

@renters rule
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@renters rule

Just checked detached prices in Surrey. Nothing decent under 650K. Seems to go up by 50K each year….

check for yourself. Realtor.ca

renters rule
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renters rule

wow, Paul’s listing numbers continue to surge. Looks like a lot of people are starting to bail out…..

(now I will wait for a clever post by CBC re the size of my noodly appendage) ;-p

Westside Realtor
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Westside Realtor

Westside sfh market – look for a nice uptick in FOR SALE signs later this week – we have more coming to market this week than I can recall for any recent early January.

Stick a fork in it, this pig is done.

Fear is starting to play into the local market as well – people do read the papers and I think mom reports on our housing bubble have caused increased anxiety.

I get the sense (no stats to back this up) that sheeple are starting to feel, niggling at the back corners of their consciousness, that the wave of HAM is over.

Wait until they realize that the tide is actually going out.

Interesting times.

Bull! Bull! Bull!
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Bull! Bull! Bull!

sway public opinion toward what end? moving to penticton because they can’t afford anything? learning mandarin because washing luxury cars are their best job prospects?

|Boombust
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|Boombust

I guess it depends on the income.

And, your notions of “recency” suggests things will ALWAYS be this way.

Common sense
Guest
Common sense

Owners don’t come to this blog.

They are smart enough to realize that this blog can’t sway public opinion or anything for that matter.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

it’s not possible to live here on just one income. however, it’s possible to live here with zero income. just look at half the people in richmond.

paulb
Member

New Listings 357
Price Changes 52
Sold Listings 106
TI:10710

http://www.paulboenisch.com

tedeastside
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tedeastside
Mortgageslave
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Mortgageslave
@Bull! Bull! Bull! “who’s expecting more price increases? we predicted those. they happened. huge percent of locals are priced out. probably no more price increases to come” Do I have to go over this again! I sold my condo 3 years ago and invested it in the stock market which has gone up 50% for me. Meanwhile I’ve lived in a 1.2 million home for peanuts. My landlord makes around 5K after Taxes etc yearly. I predicted selling and renting is the best move for me and my family and I was correct. You and the rest of the bulls are prematurely ejaculating. Now let’s not get too cocky. You hoped and prayed for prices to increase and risk your future in doing so. Since you troll this blog, we know you haven’t sold. I will GUARANTEE you can’t sell… Read more »