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Just a paper related to job lose for 2008
20,000 oilpatch job losses predicted in study4 J$ v1 A$ a) J2 g$ x4 w2 |; M
Lisa Schmidt, Calgary Herald; CanWest News Service, q; T9 `; G+ d F, Q
Published: 2:06 am$ G+ F; r5 m+ D) ? I n5 O' L' P
CALGARY - Nearly 20,000 oilpatch jobs could be lost if Alberta pushes ahead with proposed increases in royalty rates, a report said Wednesday.
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FirstEnergy Capital Corp. said the conventional oil and gas sector could lose 8,100 jobs next year if the proposed changes to the royalty structure go ahead. That's on top of about 3,500 jobs expected to be cut due to lower prices for natural gas, which accounts for the majority of drilling in the province.
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) @3 a- T! ?' d( dOn the oilsands side, the cancellation or delay of some projects could cut employment levels by another 11,000 jobs, the report said.% _6 M6 u# k8 s6 }5 Q4 m1 \7 K
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Producers were already challenged to find economic plays in natural gas exploration," said Kevin Lo, an analyst with the Calgary-based investment firm that specializes in oil and gas./ ^$ j7 X" e4 ^- b& ]3 f2 e
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"With the new proposed royalty review, we believe that the impact to Alberta will be deep and far-reaching for both conventional and oilsands development."
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The forecast comes as Premier Ed Stelmach prepares a response to the recommendations to raise royalty rates made by a government-appointed panel last month. The panel concluded that Albertans weren't getting their fair share on oil and gas development.
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Several major oil and gas producers, including EnCana Corp., Talisman Energy Inc. and ConocoPhillips Canada, have warned they will cut billions in spending if the proposed royalty structure is implemented -- reductions they say would trigger job losses and fewer economic spinoffs for the province.
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+ M' u5 u- c1 W: T# XThis week, Canadian Natural Resources Ltd. said it will cut $7 billion in oilsands spending and reduce drilling plans if the proposed royalty structure is implemented. That reduction in spending would mean the company would need 3,900 fewer contractors in Alberta, it said.% d+ u. C5 T& V. B0 ~, U
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FirstEnergy's tally of job losses mainly represent "blue-collar" workers, but Lo also noted the slowdown could spread to head office jobs such as accountants, lawyers and engineers. |
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