Oil Sands Capital Spending Down Over $18 BILLION From 2014

And yet, both the Trudeau and Notley governments are adding more taxes and more regulations at the worst possible time.

Even as the oil sands lodging providors are experiencing massive vacancy rates and a severe investment decline, government policy is making it far more difficult for the sector to recover.

As noted by BNN, Many oil sands lodges have been “temporarily” closed because they don’t have enough guests to cover the bills amid a 43 per cent drop in occupancy from a peak in 2014. “Pretty much the entire area south of Fort McMurray has been deadly slow in comparison to what it used to be,” said Mike Sherman, whose website AllCamps.ca helps guests find workcamp rooms in northern Alberta and B.C. “You’re looking at thousands of rooms in that area.”

Additionally, “As oil sands capital spending falls to an estimated $15 billion this year, less than half of the record spending of $33.9 billion in 2014, workcamp providers must fight tooth and nail for customers from among full-time oil sands workers and occasional contractors.”

While some of this decline is out of the control of the federal and provincial government, they are making things even worse.

The far more bureaucratic pipeline approval process, increased overall regulations, and the carbon tax are all pushing against the recovery of the oil sands sector.

Instead, the government should be supporting our oil industry in a difficult time by eliminating the carbon tax, reducing bureaucratic regulations, and bringing Canada true energy independence by stopping our reliance on foreign oil imports.

Of course, it is becoming clear that the Trudeau government and Notley government are both seeking to weaken the Canadian oil industry, out of their misguided notion that oil is a fading sector. This is despite evidence that oil demand will remain strong for many decades, and that Canada has tremendous potential prosperity that is being squandered if we fail to make full use of our energy resources.

Spencer Fernando

Photo – YouTube

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6 comments Add yours
  1. Okay Spencer, sometimes you talk like you think Trudeau and Notley do not have a clue about what they are doing to the oil and gas industry and sometimes you boarder on kind of a consperiousy theory . I understand you must be carefull or else..but please stop with being so political correct. Call it what it is. We all know it is a blatant attack on Alberta and the oil industry neither is that stupid People like yourself who have the ability and the audience to get the truth out need to start calling a spade a spade. These two along with a host of others have been lying through their teeth since elected. We also know that lying is a prerequisite for politicians but this is beyond that. They are destroying peoples lives with a smile on their faces. We need to be wiped that smile off and they need to start paying the piper.

  2. Importing anything into Canada that can be produced in Canada by Canadians (not foreign workers working for foreign corporations) should be illegal, with the exception of luxury goods where a name brand is what is being purchased. Oil, lumber and most foods fall into the category of what should be produced in Canada.

    Just because the greedy banksters want us to invest in “green” energy to combat “global warming”, doesn’t mean we must. Indeed, we must create Canadian banks that work for Canadians, not globalists. In case anyone hasn’t noticed, “globalism” is the new word for “imperialism” and “colonialism”. Another way of looking at it is “corporate communism”, where the corporations of the world unite under the control of global bankers.

    It’s also about control. Petroleum energy allows portability and discrete mobility, something electric vehicles don’t provide. Petroleum energy supports “off the grid” possibilities, something that by definition is impossible with the “smart grid” that tracks everything about your life. Globalism is incompatible with freedom. We must keep our guns, our oil and control over our banks. Without that we are nothing more than twenty-first century slaves.

  3. truduh! would rather have Canada buy oil from the middle east reducing our own energy independence from the rest of the world… it’s the truduh! / soros n.w.o. socialist way…

  4. GST on $18 billion is $900 million. Provincial taxes likely even more. Hey Trudeau, Notley, BC professional protesters, the Burnaby Mayor, jihadist treehugger environmentalists – that could have paid for a lot of doctors & nurses, thousands of teachers, new hospitals, better roads, smaller class room sizes, an MRI on every corner. How about good transit systems, clean water, education and health care for natives and on and on?

    Oh no, we can’t have any good stuff like that. What a disgusting concept – a higher standard of living. How about all the above self important jerks give up your pathetic damaging attempts to give yourself environmental erections. Throw your cars away, cut up your health care cards, pull your kids out of school, walk to work, shut off the heat in your home, give up your PLASTIC credit cards, cancel holidays. Don’t continue to be hypocrites, shut down your lives and go live on the streets.

    PS: The tax supported homeless shelters are full but then that doesn’t matter, all you want is your feel good erections. You people are disgusting and offensive.

    Is it possible the Burnaby Mayor is wanting a highly paid position on the Pipeline Board of Directors? A fair question.

    1. You assume that goverments want a higher standard of living. No. Liberals/left want a lower standard of living, to be the under class, voters dependent on government, forever.

  5. The international lie called global warming / climate change is a huge political gambit designed to exercise control over individuals. At the same time, one of the worst polluters in the world, China, is being courted to enter into agreements which will kill our nation. There is no way that our political leadership will change their behavior, they are pleased with themselves and are on target to remove control of Canada into the hands of a globalist elite. If I didn’t have a hope outside of this world it would definitely be time to panic.

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