WCS can go to zero. WTI will be under $20 before this week is over.This quote is hidden because you are ignoring this member. Show Quote
WCS can go to zero. WTI will be under $20 before this week is over.This quote is hidden because you are ignoring this member. Show Quote
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I know of multiple layoffs that have been happening since last Wednesday.This quote is hidden because you are ignoring this member. Show Quote
Ours happen tomorrow.
For sure, just seemed like sub-$10 is a notable marker...This quote is hidden because you are ignoring this member. Show Quote
CAD is below $.70 too...
Side question - how are the layoffs happening given that most people are WFH? Are companies asking people to come in?This quote is hidden because you are ignoring this member. Show Quote
Over the phone.This quote is hidden because you are ignoring this member. Show Quote
I have to cut 40% of my team that way... it’s brutal.
What type of company are you though? My wife seems to think she will lose her job she also thinks the company won’t have enough money to pay any severanceThis quote is hidden because you are ignoring this member. Show Quote
Service companyThis quote is hidden because you are ignoring this member. Show Quote
Afaik there is enough case law regarding benefits they are either paying them or going into receivership
As much as I think this is horrible I’m kind of happy about it. Every time I send money back to my Canadian accounts it makes me so happy.This quote is hidden because you are ignoring this member. Show Quote
Last edited by KPHMPH; 03-18-2020 at 12:27 PM.
Professionally Retired
Everything I earn in is in USD... I'm keeping as much as I can in my US$ account... Saved a ton by not making my usual transfer last Friday.This quote is hidden because you are ignoring this member. Show Quote
so Kenney is expecting the hit to alberta to be as bad as the projected hit to the USA of -14% for this year. And he also said Q2 average price for Brent Crude is $5 a barrel - seems to low. Is he talking about the spread between brent and wti?
Brent at $26.4. WCS at $7.6. So are we at a point where it's cheaper to leave it in ground and wait?This quote is hidden because you are ignoring this member. Show Quote
But if we do, doesn't that mean Saudi and Russia wins?
Was there ever a doubt they wouldn't?This quote is hidden because you are ignoring this member. Show Quote
You know, it's in our best interests if they DO win. Capitalism isn't a zero sum game. If they are in teh best position to make lots of money of their resources, then we will have the chance to do the same if we don't hinder ourselves excessively.This quote is hidden because you are ignoring this member. Show Quote
A collapse of worldwide drilling is exactly what's needed to re-balance the supply side of the equation, and eventually, raise prices. In fact, with SA and Russia pumping flat out, and prices rising, it will actually put north american producers in a STRONGER position, as they will truly become the swing production.
Anything that North America does this year to help prop up drilling activity is against our own interests.
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The sooner we see mass bankruptcies on over-leveraged american producers, the soon Canada can get back to making money. We should hope for a quick SA/Russia win.
That's probably a clearer way of saying what I mean.This quote is hidden because you are ignoring this member. Show Quote
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How come I don't see people trying to sell their exotic cars for dirt cheap yet? Most are so over-leveraged that this has to be crushing them.
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I'm considering selling mine to buy some high growth index funds. I'll PM you when the Kijiji advert is active.This quote is hidden because you are ignoring this member. Show Quote
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So do you think Cenovus should go into bankruptcy as well? Or are US operation are even more leveraged than Cenovus?This quote is hidden because you are ignoring this member. Show Quote
What do you mean by should?This quote is hidden because you are ignoring this member. Show Quote