Castuserraticus

Can anyone here cast like this? I'd love to learn some of these techniques. It seems to me he must be working with a light line to keep it airborne for so long.

General comments - The idea that Alberta has generally not benefited from the present upswing is absurd. Just look at the jobs, jobs, jobs and all the tax revenue this has created. Mike - there is already enough LNG (liquified natural gas) facilities in the US to completely displace Cdn gas. Four more terminals are under construction off the coast of Texas and will be starting up between late this year and mid 2009. These will more than double import capacity. We have quite a bit in common. I graduated geology into the aftermath of the NEP. I worked as a store clerk during the crash of '86. Was able to get into a company the next year but made less than a first year city bus driver. My wife is a teacher. I've never had the security of a tenured position with a pension. I hope someday to get a big payoff because that's the path I've chosen. If it doesn't work I'll be looking to mow your lawn. I also would like to see a longer term plan and while the government may be able to draw up a plan it's always ultimately up to industry investment to create prosperity. Ralph's cutbacks to education and health were short sighted. Of course we all know he had no respect for education. Maybe with all the new funds they can top up the teacher's pension plan, invest in schools, and drop the PTR. About 25 years ago India made the decision to concentrate more on math and sciences in their schools. Look at what that plan created - one of the fastest growing economies in the world. Toolman - I've read the report. One of the big problems is that it is very broad brush. Critical info is missing that would allow individual companies to calculate the potential effects. I don't know if my company is going to be hurt or helped. Where there's an information vaccuum fear thrives. Alaska is not a fair comparison because their wells are so big and prolific. Charts within the report show how insignificant our wells are in comparison to the rest of the world. Low productivity=high costs just like your business I imagine. It's actually amazing we are able to compete when you compare areas. Alberta is saved by extremely high government takes in other regions. We have one of the highest cost structures in the world. I do like the idea of a cheque in my pocket rather than going into government coffers. You should really think hard about accusing the oil industry of deforestation when I understand you make cutting tools for the logging industry. When I google map northern Canada there's way more impact by forestry and it's coast to coast.

So the report is out and the recommendation is to siphon another +$2B to the provincial bureaucrats. I predict if the report is adopted verbatim it will be revenue neutral as accelerating the existing slow down in industry, and resulting job losses, will cut severely into payroll and consumption taxes. It's scary. It used to be if prices weakened then costs would adjust downwards. With the global demand for steel there is not likely the flexibility available to tool, equipment, and pipe suppliers to cut their input costs. Sales prices are set internationally and the only locally controlled costs now are human. Can you say "pay-cut"? I thought it was particularly ludicrous for committee chairman Hunter to extol the nationalization movement of many perenially troubled third world countries like Venezuela. Is that the standard of living we want? Why do Canadians feel so guilty during our relatively brief periods of prosperity that we have to self destruct? Why do all dollars have to flow through government coffers when businesses generally create value and governments spend?

The programs cut were quietly doing their job - too quietly. Some of their data may have flown in the face of the alarmists - like the study released last year that found polar bear populations at historic highs. Governments need to justify the taxes collected. AGW is huge so they can tax big.

That's one of my favourite hikes also. The wife and I did it a few years ago when there wasn't a cloud in sky. We also went counter clockwise and were disappointed to find Hidden Lake extremely high. The trail was under ~10' of water so we had to bushwhack over and under logs and ended up wading down the middle of the outlet stream. Was hoping to take my kids this year but it didn't happen. Maybe next....

That's a real good one.

I was involved in the early part of that program. Encana has different economics there because they own the mineral rights (6% tax vs 20% royalty). Stay with the project fi you have the choice. It may be monotonous but job security is good and you're close to Carseland for after work activity.

Why do I only get involved in the "lively" discussions? In addition to a small calculation error (1 US Bbl costs $143.96Cdn) your numbers are simplistic and out of date. Between the producers and the pumps are the refiners, marketers, and governments. Tar sands are heavy oil and do not receive WTI prices. From Suncor's 2006 annual report: Average light/heavy differential $8.83/Bbl - industry average is about $20 so Suncor does much better because they produce synthetic crude, 2007 is trending higher Cash operating costs $26/Bbl - including production, transportation, and taxes. So the estimated netback is down to ~ $47/Bbl and this is to deliver crude to the refinery. The actual calculation for Suncor in 2006 provides a netback of $41 likely because they also sell raw bitumen. Your calculations also ignore the finding and development cost. Wells and mines are far from free. Industry average finding costs are over $20/Bbl. Royalties paid on production increased to $911MM from $406MM (production increased from 165M to 263M BOPD, rates rise with prices) To get product to consumers the oil has to be refined and distributed. The refiners process the crude into more valuable products (gas, diesel, lubricants, AVgas, bitumen). Historically, refinery margins have been below 4% but have crept up to 7% recently. Gasoline refining and marketting costs averaged $23.80 /Bbl in 2005 And the governments take their share. Gasoline taxes averaged $52.30/Bbl in 2005. I have to sign off now because I'm late for the "Global Oil Conspiracy 101" course that's mandatory for all participants in the industry.

Oil price in $US increase + Appreciating $Cdn = $0

The attitude is nervous. Producing companies that were not as disciplined - marginal projects relying on increasing prices, loading up on debt - are in deep trouble. The healthy ones are closely evaluating their capital programs. Risk is back. The service companies are usually late to the party and the first to get hit by cutbacks. The overbuild of equipment, launch of new companies, and large rate increases have set the stage for some tough times. The fortunate ones will be able to move equipment to the US where rig counts are rising. What impacts gas prices? Supply and demand - It's increasingly a world wide market. Canadian production peaked in 2001. There's going to be an explosion of production from the US Rockies region and, potentially, LNG (liquified natural gas) from international sources in the next few years. With gas-on-gas competition, price spikes will be much more subdued. Potentially countering this is competing demand from Europe and developing nations. Demand in North America has been flat for a couple of years. This could change with normal winter conditions, fuel switching due to cost savings, and industrial demand for the oil sands. Alberta internal consumption has grown by about 700MMcf/d over the past 10 years. European and developing country demand is still rising. Exchange rates - The Canadian dollar is firmly trending higher. American markets set the price. Our gas seemed cheap when the $Cdn was worth $0.67US. The period of currency exchange adding to the selling price is ending. Many analysts put a fundamental price of $6US on gas prices due to present project costs.

Carrying two packs, bushwhacking ("Do we climb over or crawl under this tree?"), wading, cliff scrambling - brings back fond memories of a couple of hikes years ago with my wife. The wading was a relief after the bushwhacking. Fortunately, it was only about 10 km.

The owner will have to get the good duct tape to fix that.

Parking outside any hotel/motel that advertises internet has worked for me. I've used both MS remote terminal and LogMeIn to access my office computer. I've trusted the security built into those programs. Also, with Firefox the browser can be set to clear personal info. Just shut-it down and your log-in ID is forgotten. I don't see how there's really any difference in using a VPN from your house or from your laptop. Either can be hacked into by someone who's knowledgeable and determined. What are the chances someone's targeting you?

46 Birchy's new kid post, my 20th anniversary today - these things makes one count the blessings. Last night I scored on an end to end rush in hockey (playoff game and I'm defense). Maybe I am getting better.

Congratulations. Before you know it he'll be grown. Enjoy every moment - even the sleepless ones. They all have meaning. Your picture brings up memories that still seem so fresh even though mine are 13 & 15 now.

You captured some excellent colours. What camera do you use?

My wife slipped in that first boulder field you have pictured and we were luck she only got a deep gouge. Unfortunately I didn't take a rod but we saw fish in even the smaller ponds. Good for your boys for making it. There's a pretty intense gradient the entire way. We didn't make the top due to the boulder field mishap. We backpacked into Lillian Lake with the kids a couple of years ago. My son (non-fisherman) caught just about 30 cutts in the 3 days. We had a moose hanging around. We've found the absolute key is to keep the kids well hydrated - more important than the trail treats.

Turks Tarantula

No - My old Pathfinder was broken into twice in the past couple of years just for parking change.

Can you recharge the dessicant quality by heating it? In other words, how cheap can I get?

About 35 years of dabbling. The last 10 I've actually been somewhat serious.

Harps - You obviously have more direct contact with violations that I ever will. You're comments remind me of one of my partners who's a lawyer. His experience working for and against corporate clients causes him to see people with a pretty jaded view. He's always telling me I'm too naive and trusting. However, I can't possibly possess all the knowledge in the universe so we hire the best people we can find, express our intent, and trust in their knowledge and actions.

Frank and Joe were fanatics and fished together for 50 years. However as they got older their excursions became fewer and shorter. Still, every Wed. during the season they'd fish a favourite section of their home river. They'd leave a vehicle at a bridge and one of their wives would drive them to the next bridge a couple miles downstream. They timed their trips to get home in time for supper and some bridge with their wives. One day the guys didn't return by supper. The wives were nearly frantic with worry when Frank finally returned an hour after dark. He was absolutely beat and could hardly drag himself into the house. "What happened?" the wives wanted to know. "It was terrible." Frank said "Joe had a heart attack and died when we were rigging up." "That's awful." his wife said. "Yeah" said Frank, "It was a long day - fish a hole and drag Joe, fish a hole and drag Joe."

You get an idea of the age of the poster from their medical history. Broken bones - probably young and reckless. Joint replacement - experienced in life Good luck

Gee a guy works for a day and all heck breaks out. Harps - my main point is there is already extensive regulation. If you want to talk about overall footprint and impact on the environment look at agriculture. The farmers I've talked to know they wouldn't survive if they were under the same regulatory scrutiny - chemicals, animal waste run-off, tillage practices, etc. It might be a good thing though as farming still ranks as one of the most dangerous careers there is. The oil industry is pretty safe these days. We do take responsibility for our social and environmental impact. My hackles rise when a broad brush is directed at my livelihood. On to your points: If industrial development was so harmful to the animals and fish of Alberta they would have died off with all the agricultural and forestry development to date. Steam bed disturbance and log crossings of streams is so 1970's. Portable steel bridges have been the fashion for a couple of decades for permanent water courses. Our location is accessible via high ground. There are no water courses. Despite this we would still not be allowed summer access except by quad. If someone were to go in and vandalize the well (ala W. Ludwig) we would not have the choice of waiting for frozen ground. I don't have a problem with local native and resident consultation as long as it's relevant. BC is claimed 6X over by bands from all over that province and Alberta. It's another layer of scrutiny our industry must pass. There are no cutting corners in abandonment and reclamation. Every site is inspected and has to pass or the government makes you go back and do it again. None of it is simple and when I lay the numbers I wonder why I'm in the business sometimes. Mainly what I want to counter is the erroneous view that the industry has carte blanche to pillage wherever and whenever it wants as you indicate is at the heart of your beliefs (quote). "Legislation provides a clear path for oil companies to follow when proposing a drill… with all the drilling that has gone on, you’d think that companies would know the procedure by now." We do know the procedures. Apparently you don't just as I know nothing about your job. It's pretty hard to find any industry or activity that does not have an impact on the environment. The big fight is how much is acceptable and who sets the standard because everyone's differs. Fortuneately, we have learned from our past mistakes and made huge strides. First hand experience seems to be the only way change happens. Otherwise the Chinese would not be doing what they're doing. On your final comment we need legislation to make mistakes of any kind illegal. I look forward to meeting on the river bank some day. We can settle the argument with a casting contest as I drink very rarely. Hopefully, you can teach me some things. I'd rather be fishing than typing all this. Cheers