CALGARY - Tens of thousands of people who have lost their jobs in Alberta's oil-and-gas sector are confronting a rapidly changing job market.Not only has competition become fierce for the few jobs available, but the way people find and get those jobs is also changing, says Alan Kearns, founder of career firm Careerjoy."Now it's about marketing yourself more than it is about just sending out resumes," said Kearns.Job seekers need to think of themselves as independent business people trading on [Read more]
Calgary faces both uncertainty and opportunity in 2016 after oil price plunge
CALGARY - A year into the global oil price plummet, and Calgary's boom-and-bust economy is decidedly leaning towards bust.Home prices are down, unemployment is up, food bank usage is climbing, and no one knows when things might turn around with oil below US$40 a barrel on Monday from highs of well over US$100 less than two years ago."It's very uneasy," Stephen Scott, 45, who lost his engineering job at Cenovus Energy in an October wave of layoffs, said in a recent interview. "There are probably [Read more]
Alberta’s energy minister says workers who’ve lost oilpatch jobs should upgrade
CALGARY - Alberta's energy minister says the government hopes people who have lost their jobs in the oilpatch will use the downturn to upgrade their skills.Marg McCuaig-Boyd says skilled journeymen with the right credentials could move to British Columbia to find work until energy prices bounce back.But she says workers with fewer skills should take advantage of apprencticeship programs.The minister says where she lives in northwestern Alberta, skilled workers can move back and forth to B.C. on [Read more]
Alberta government says energy regulator review won’t include its main mandate
EDMONTON - The Alberta government says the province's energy regulator is performing well and there are no plans to make major changes to the agency.Premier Rachel Notley had voiced concerns that the Alberta Energy Regulator has responsibility for both promoting energy development and protecting the environment.Energy Minister Marg McCuaig-Boyd said Notley's comments were misconstrued."She (Notley) and I have been clear since the beginning that we are not breaking up the AER," the minister said [Read more]
Questions arise over Canadian Oil Sands as it lays out 2016 spending plans
CALGARY - Canadian Oil Sands Ltd., fighting a hostile takeover bid by Suncor Energy, has laid out spending plans and performance targets for next year that it says demonstrate shareholders are well-served under the status quo.Throughout the heated takeover debate, Suncor (TSX:SU) has cast COS (TSX:COS) as a risky investment as a stand-alone firm, given the likelihood of a prolonged oil price downturn.But on a conference call Tuesday, COS CEO Ryan Kubik said with major project spending complete [Read more]
Saskatchewan projecting $262M deficit as lower oil prices hit revenue
REGINA - Tanking oil prices are forcing the Saskatchewan government to put the brakes on spending.A budget update shows the province is projecting a deficit of $262 million, compared with a surplus of just over $100 million that was forecast in March.Finance Minister Kevin Doherty says getting the books back in the black is going "to be a tough challenge.""I want to be definitive here, my goal is to try to get us to balance. I'm not sure I can get us there," Doherty said at a news conference [Read more]
Ruling to come in Suncor Energy’s hostile bid for Canadian Oil Sands
CALGARY - The Alberta Securities Commission has ruled that Canadian Oil Sands Ltd. can stall a hostile takeover bid by oilsands behemoth Suncor Energy for a month.Although it gives the target company less time than it wanted to seek an alternative to Suncor's unwelcome advances, COS said Monday it's pleased with the decision."The ASC decision applies the reins to Suncor, who tried to stampede our shareholders," said COS chairman Donald Lowry.COS put in place a new shareholder rights plan, also [Read more]
B.C. climate report says hike carbon tax, extend reduction targets to 2050
VICTORIA - Premier Christy Clark has said she will bill British Columbia as an environmental leader at the upcoming world climate change summit in Paris. But her own government-commissioned report concludes the province will miss its legislated greenhouse gas reduction targets.In the report released Friday, a climate leadership team concluded the province will fail to meet its 2020 targets and recommends focusing emission-reduction targets for 2030 and 2050.The team — appointed by Clark's [Read more]
CNRL chair Edwards says Alberta royalty system should be simplified
LAKE LOUISE, Alta. - The chairman of one of Canada's biggest oil and gas companies says there's room for improvement in Alberta's royalty system.Murray Edwards of Canadian Natural Resources Ltd. (TSX:CNQ) says there's not much room to change the amount the province charges for the right to exploit oil and natural gas on Crown land.Rather, the prominent oilpatch financier says it's more about the way the regime is designed.Speaking to reporters at a conference in Lake Louise, Alta., Edwards said [Read more]
Suncor and COS clash at Alberta Securities Commission for second day
CALGARY - Final arguments in Suncor Energy's hostile bid for Canadian Oil Sands played out before Alberta regulators on Friday, with lawyers for COS insisting shareholders need more time to consider their options, while those for Suncor said time for its takeover target is running out.David Tupper, lawyer for Suncor Energy, told the Alberta Securities Commission that it should overturn the COS plan to give its shareholders 120 days to consider Suncor's $4.5-billion all-stock takeover [Read more]
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