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Has your office / company laid people off or are you expecting layoffs? PART 8 - Page 48 - Beyond.ca - Car Forums

View Poll Results: What is your current employment status?

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  • I was laid off and haven't found SIMILAR work yet

    10 5.59%
  • I was laid off and found a new job in the same industry

    13 7.26%
  • I was laid off and found a new job/career in a different industry

    10 5.59%
  • I'm still plugging along with the same company I've always been with

    87 48.60%
  • I quit my job and went elsewhere

    20 11.17%
  • We're all fucked

    40 22.35%
  • Other

    4 2.23%
Multiple Choice Poll.
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Thread: Has your office / company laid people off or are you expecting layoffs? PART 8

  1. #941
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    Quote Originally Posted by Power_Of_Rotary View Post
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    haha you just quoted exactly what I am still saying. I do not pity companies who dont have reserves and when shit hits the fan they ask for bail out. I have not changed my stance once. However, since bailout HAS been granted, regulations should be in place since tax payers are contributing to their failures.

    I stand by my insult to you.
    You can try and twist your clearly interventionist viewpoints all you want. You have made your views pretty damn transparent over a few posts. Not my fault if your opinions embarrass you so much you feel the need to walk them back, that’s a you problem. Sounds like I hit a nerve too.
    Last edited by killramos; 07-06-2020 at 09:06 PM.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

  2. #942
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    Quote Originally Posted by lasimmon View Post
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    Sorry I kept editing, poor on me there.

    Nah, i'd like a strong AER and a requirement to put up real abandonment costs to drill. But thats a pipe dream. In the mean time i'll make a killing on the end of life side.

    But don't pretend there is a ton of companies operating right now that are basically hoping for someone else to deal with their liabilities. And yes your company may be there soon .. as with the companies there now.
    I dunno about needing prepaid liability bonds ( I actually don’t think companies would care about this nearly are much as you would think, it’s small dollars) but a strong AER I would be very game with. Notably by strong I don’t mean completely full of red tape, I mean they have teeth when you fuck up bad.

    I do really think dumb shit like the government paying for liabilities and these programs sets us back massively in being an industry with independence that self funds the OWA through premiums. Instead it’s just more cheap fodder that does nothing to really help but is slow ball ammo for people who are obsessed with the notion of the oil and gas industry being heavily government subsidized.

    Actually those liability assistance programs really piss me off. If it wasn’t apparent.
    Last edited by killramos; 07-06-2020 at 09:09 PM.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

  3. #943
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    Quote Originally Posted by killramos View Post
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    I dunno about needing prepaid liability bonds ( I actually don’t think companies would care about this nearly are much as you would think, it’s small dollars) but a strong AER I would be very game with.

    I do really think dumb shit like the government paying for liabilities and these programs sets us back massively in being an industry with independence that self funds the OWA through premiums. Instead it’s just more cheap fodder that does nothing to really help but is slow ball ammo for people who are obsessed with the notion of the oil and gas industry being heavily government subsidized.

    Actually those liability assistance programs really piss me off. If it wasn’t apparent.
    You realize right if the levy was what it needed to be a company like yours would be screaming bloody murder? You already have a company (cnrl) that pays 30% of the levy screaming about the levy (when their internal group can’t hit the metrics the OWA does) because it’s too much. But the reality is it might more sense to cut out all the idiots who get in make a dollar and dump on the OWA. You guys should be pushing more on that.

    But everyone loves allowing shit companies to make money and dump the shit in everyone else.

  4. #944
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    Quote Originally Posted by lasimmon View Post
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    You realize right if the levy was what it needed to be a company like yours would be screaming bloody murder? You already have a company (cnrl) that pays 30% of the levy screaming about the levy (when their internal group can’t hit the metrics the OWA does) because it’s too much. But the reality is it might more sense to cut out all the idiots who get in make a dollar and dump on the OWA. You guys should be pushing more on that.

    But everyone loves allowing shit companies to make money and dump the shit in everyone else.
    I’m not convinced it’s everyone who loves those companies, but I am thoroughly happy to see the AER not allowing license transfers more and more recently. I think we both know it’s not organic drillers who are the problem, but the shitcos who trade around shit assets every few years with thousands of train wreck wells to get rid of.

    Put the bonds on the license transfers between shitcos and we might really have something.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

  5. #945
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    I agree I think the rejection of shell on peirdae (sp?) was a big step. That was a hilarious deal set up to fail. It helps cnrl and OWA paid a large amount in lawyers fees to get it rejected. (The liability portion).

    I still think real value on an abandonment and reclamation should be put up in a bond. If the value isn’t there then why are we allowing it?

  6. #946
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    Quote Originally Posted by lasimmon View Post
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    I agree I think the rejection of shell on peirdae (sp?) was a big step. That was a hilarious deal set up to fail. It helps cnrl and OWA paid a large amount in lawyers fees to get it rejected. (The liability portion).

    I still think real value on an abandonment and reclamation should be put up in a bond. If the value isn’t there then why are we allowing it?
    It’s funny because they are two companies who sit on hilarious high ivory towers. Shell being... well shell. And Peridae with their model of supplying LNG that has never been frac’d (hilarious) to Europe.

    I think the bonds are going to come, but only for new wells which won’t solve any of the real problems and punish the good companies disproportionately as you mention, probably makes less difference to the business than you might think because they act as assets on the balance sheet and lenders have gotten way way more aggressive cutting down bank lines based on ARO amounts anyway (liquidity stays the same). Just more wasted cash doing nothing on balance sheets at the end of the day though, and not a good use of capital.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

  7. #947
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    Quote Originally Posted by Power_Of_Rotary View Post
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    I did pick a lane. fuck, I am surprised not more of you retards are laid off.
    I've understood your points the whole way through. I don't know what these other guys are on about.

    I'm also a laid off retard, so be careful with my endorsement.
    2007 GMC 2500 Duramax
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  8. #948
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    Quote Originally Posted by Power_Of_Rotary View Post
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    haha you just quoted exactly what I am still saying. I do not pity companies who dont have reserves and when shit hits the fan they ask for bail out. I have not changed my stance once. However, since bailout HAS been granted, regulations should be in place since tax payers are contributing to their failures.

    I stand by my insult to you.
    You might want to read up on how balance sheets work.

  9. #949
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    Quote Originally Posted by killramos View Post
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    You can try and twist your clearly interventionist viewpoints all you want. You have made your views pretty damn transparent over a few posts. Not my fault if your opinions embarrass you so much you feel the need to walk them back, that’s a you problem. Sounds like I hit a nerve too.
    Lol yea your opinions on my viewpoints is what keeps me breathing.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

  10. #950
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    Quote Originally Posted by SKR View Post
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    I've understood your points the whole way through. I don't know what these other guys are on about.

    I'm also a laid off retard, so be careful with my endorsement.
    My apologize lol Thanks for being clear headed. I get rude when I deal with unreasonable people.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

  11. #951
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    Quote Originally Posted by Power_Of_Rotary View Post
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    My apologize lol Thanks for being clear headed. I get rude when I deal with unreasonable people.
    No apologies needed, I fit that description as good as anybody.
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  12. #952
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    Quote Originally Posted by killramos View Post
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    It’s funny because they are two companies who sit on hilarious high ivory towers. Shell being... well shell. And Peridae with their model of supplying LNG that has never been frac’d (hilarious) to Europe.

    I think the bonds are going to come, but only for new wells which won’t solve any of the real problems and punish the good companies disproportionately as you mention, probably makes less difference to the business than you might think because they act as assets on the balance sheet and lenders have gotten way way more aggressive cutting down bank lines based on ARO amounts anyway (liquidity stays the same). Just more wasted cash doing nothing on balance sheets at the end of the day though, and not a good use of capital.
    I think there is a reckoning coming a bit from the public just due to the more media pressure on things like abandoned wells (as idiotic as the media frames it). I do think the good companies will be punished, but I don’t think it’s a punishment that shouldn’t have been there to begin with.

  13. #953
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    Quote Originally Posted by killramos View Post
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    Put the bonds on the license transfers between shitcos and we might really have something.
    That’s happening now in AB and BC. They review audited financials, assess the companies ability to deal with liabilities, and check the executives and directors history with companies associated with bankruptcy. Bonds are being required before license transfers are approved.

    It’s been rolling in over the last 6-12 months.

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