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Given the energy policies our President is going to be taking, I'm willing to bet your friends in oil will be employed within two years. We'll see, but there's
by MicroBerto 10y ago
Given the energy policies our President is going to be taking, I'm willing to bet your friends in oil will be employed within two years. We'll see, but there's quite a bit of excitement with my chemical engineering friends.
- Mikeb85 10y agoI'm not so optimistic. I live in Alberta, Canada, and we have a few things going against us. For one, not much conventional oil. The cost of extracting oil from bitumen is still very high. Second, most of the lost jobs have been white collar jobs in Calgary (2016 was far worse than 2015, and 2017 is looking dismal). Oil companies have packed up and left town altogether. They're not coming back, because why would they? They're all massive multinationals, wound down operations, and can administer whatever activities they engage in from their offices abroad. So in the case of our city, a slight oil 'comeback' won't help us. Trump's policies won't help us. Even though oil prices have stabilised and drilling is resuming in many places, companies are still laying people off here and commercial vacancy is still increasing.
- MicroBerto 10y agoAhhh, my bad, I didn't dig enough to see that you were Canadian. If Trump's policies "work" with respect to employment, you may certainly see similar dominos fall. TBD of course.
- Mikeb85 10y agoNo worries. As far as Trump's policies go, I think they'll work well enough domestically. Not too long ago, tariffs and deregulation were fairly orthodox economic policies. And his pro-pipeline stance will be good for Canada, though for Alberta macro issues affect us more than any policy issues.