Calgary Economy - Page 10

flipstah · #**181** Posted **Dec 21, 2014, 6:52 AM**

Ballin' on insufficient funds.

Policy Wonk · #**182** Posted **Dec 21, 2014, 11:46 PM**

Quote:

Originally Posted by DizzyEdge

http://blackbettybwb.com/?page_id=56

Wow...

That is the "douchiest" thing I have ever seen.

flipstah · #**183** Posted **Dec 22, 2014, 2:44 PM**

The Bank used to do bottle service as well. Now that was a sweet nightclub.

Ramsayfarian · #**184** Posted **Dec 22, 2014, 6:00 PM**

Quote:

Originally Posted by Policy Wonk

Wow...

That is the "douchiest" thing I have ever seen.

Thanks to ALCB it isn't even real bottle service. I've never participated, but from what I've seen they put the bottle in a locked box on your table and your drinks have to be topped off by the staff.

I have no issue with bars exploiting the d-bag and separating them from their money. Every bottle purchased is 3 less Ed Hardy shirts.

Ramsayfarian · #**185** Posted **Dec 22, 2014, 6:03 PM**

Quote:

Originally Posted by Cowtown_Tim

Canadian Oil industry would take a hit for sure, but to what degree is still anyone's guess. They would be more susceptible than say, the middle east producers, but there the industry is still viable even at the low prices. Some spending cuts is what I would expect to see. Maybe a some layoffs too.

Well as of 10:30 this morning I know of 2 Enterprise size O&G companies slashing their 2015 operation budgets. One by 40% and the other by close to 65%.

Policy Wonk · #**186** Posted **Dec 22, 2014, 6:45 PM**

One of my friends is absolutely shitting herself these days. Her eldest daughter was just made permanent by a big one downtown after being a contractor for the last four years and her son who graduates this spring left his summer job this past fall with a job offer effective July 1st.

She is terrified they will both be canned and she works for Nexen.

milomilo · #**187** Posted **Dec 22, 2014, 9:00 PM**

Quote:

Originally Posted by Policy Wonk

One of my friends is absolutely shitting herself these days. Her eldest daughter was just made permanent by a big one downtown after being a contractor for the last four years and her son who graduates this spring left his summer job this past fall with a job offer effective July 1st.

She is terrified they will both be canned and she works for Nexen.

It seems like everyone is wishing a recession into happening.

lineman · #**188** Posted **Dec 22, 2014, 9:24 PM**

Quote:

Originally Posted by Policy Wonk

Wow...

That is the "douchiest" thing I have ever seen.

You should see the weekend night crowd at that place.

ByeByeBaby · #**189** Posted **Dec 22, 2014, 9:32 PM**

Quote:

Originally Posted by milomilo

It seems like everyone is wishing a recession into happening.

Yeah, I'm sure it's just entirely in people's heads; nothing in the outside world that could possibly be affecting Calgary's economy.

Ramsayfarian · #**190** Posted **Dec 22, 2014, 9:58 PM**

Quote:

Originally Posted by milomilo

It seems like everyone is wishing a recession into happening.

And then there's those who think if they ignore the writing on the wall everything is going to be ok.

Ignorance may be bliss but it doesn't keep me in bottle service.

DizzyEdge · #**191** Posted **Dec 22, 2014, 10:27 PM**

Quote:

Originally Posted by lineman

You should see the weekend night crowd at that place.

Pretty much.

Although I actually don't mind the place upstairs before 9 or 10pm.

DizzyEdge · #**192** Posted **Dec 22, 2014, 10:29 PM**

From articles I've read, it sounds like things will be far worse for places like Venezuela, Nigeria and Russia, such as them defaulting on their debts. Venezuela's revenue is something like 90%+ dependent on oil revenue.

milomilo · #**193** Posted **Dec 22, 2014, 11:17 PM**

Quote:

Originally Posted by lineman

You should see the weekend night crowd at that place.

Quote:

Originally Posted by ByeByeBaby

Yeah, I'm sure it's just entirely in people's heads; nothing in the outside world that could possibly be affecting Calgary's economy.

Nothing bad has actually happened though (yet). All indicators, other than the oil price, are positive, but acting like some disaster is about to happen before there is any kind of slowdown is hardly going to help the situation. Let's worry when we actually have reason to.

Policy Wonk · #**194** Posted **Dec 23, 2014, 12:05 AM**

If you're anyone or anywhere else, that's all true. An all ready positive economic environment only improves with low energy prices.

We on the other hand have invested and budgeted billions in private and public wealth on a resource that requires high prices to be viable and was already selling at a discount. Meanwhile our largest market faces mounting pressures to adapt to US sourced crude.

Policy Wonk · #**195** Posted **Dec 23, 2014, 12:13 AM**

Quote:

Originally Posted by lineman

You should see the weekend night crowd at that place.

Just knowing that exists in Calgary makes me want to move to a small town in Oklahoma.

milomilo · #**196** Posted **Dec 23, 2014, 1:58 AM**

Quote:

Originally Posted by Policy Wonk

If you're anyone or anywhere else, that's all true. An all ready positive economic environment only improves with low energy prices.

We on the other hand have invested and budgeted billions in private and public wealth on a resource that requires high prices to be viable and was already selling at a discount. Meanwhile our largest market faces mounting pressures to adapt to US sourced crude.

True. But people and businesses should stay calm and focus on the long term - oil prices will likely go up again in the future.

Of course I'm sure lots of service companies will lay off half their workforce only to re-hire in the summer with all the associated training costs. Companies are dumb.

Policy Wonk · #**197** Posted **Dec 23, 2014, 2:44 AM**

Well that all depends. The problem today is much the same as the problem was fifteen years ago. The world is drowning in oil. The inflated prices were driven by three things. Speculation, Geo-Political Risk and Quackery.

What is "different this time" is Geo-Political risk has evaporated from the price of oil when the risk is actually quite heightened.

I'm personally of the opinion OPEC hasn't acted because they know they can't really move the market in the current situation and don't want to appear ineffectual. But if it is indeed the case that OPEC wants to suppress the oil sands and shale in the long-run then they're going to keep the price of oil no higher than the mid-50's.

And whatever the world market does, our fortunes will be much more closely tied to the whims of US refiners. If oil rebounds globally and US production holds up the incentive for US refiners to switch from heavier crudes to the new US crudes that are both higher quality and will sell at a discount because of the export ban will be enormous.

I suspect the American's will be all to happy to jiggle the handle to see US producers remain viable and yet discounted from the world price. Everybody wins, except us.

Spring2008 · #**198** Posted **Dec 23, 2014, 5:28 AM**

Quote:

Originally Posted by Policy Wonk

Seriously?

There are clubs in Calgary offering that?

Bottle service is a standard feature at pretty much every club everywhere. As a bar owner why wouldn't you want to take advantage of some posers willing to pay hundreds of dollars for a bottle of booze.

ItsALondonThing · #**199** Posted **Jan 10, 2015, 8:57 AM**

http://www.theguardian.com/environment/2015/jan/10/keystone-xl-us-house-approves-oil-pipeline-again

Keystone again. Will Obama approve it this time?

Spring2008 · #**200** Posted **Jan 10, 2015, 6:26 PM**

Quote:

Originally Posted by ItsALondonThing

http://www.theguardian.com/environment/2015/jan/10/keystone-xl-us-house-approves-oil-pipeline-again

Keystone again. Will Obama approve it this time?

I hear Obama will veto it.