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Oilsands Giant Suncor Shuts Fort Hills Production

  • 3 days ago
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Suncor - one of the largest players in the oilsands - is shutting production to cope with low oil prices and virus impact. The announcement calls for Suncor to shut in one of its two so-called 'trains' at the 2 year old Fort Hills oilsands mine. The company also is delaying the start up of its MacKay River oilsands wells to May, after operations were halted in December because of a malfunction and fire. Read More: 3 Reasons Oil Prices Will Be $65 Per Barrel By the End of 2020 Sunc...

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Dow Posts Biggest Gains Ever as Trump Supports Businesses Opening 'Sooner Rather than Later'

  • 4 days ago
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The U.S. equity markets showed their strongest one-day rebound in history on Tuesday amid investor optimism that members of Congress will overcome their differences to reach a deal on a nearly $2 trillion COVID-19 stimulus package. The gains were the largest percentage gain since 1933, and followed a plunge on the major averages Monday despite the Federal Reserve announcing it would buy unlimited amounts of assets to support the economy. Stocks also appeared to gain based on comments from Pres...

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Midland & Odessa Top List of 22 US Cities at Risk of Job Losses

  • 4 days ago
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According to a recent study by the Brookings Institution, Odessa & Midland are in the top 5 US cities likely to impacted by the coronavirus. Brookings used the Moody's Investors Service list of industries most at risk of a decline in employment, where mining and transporatation - along with employment services, travel arragements, and leisure & hopitality - make up the top 5. The study suggests that In 2019, 24.2 million of Americans (16.5%) worked in jobs that Moody's labeled 'at risk...

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3 Reasons Oil Prices Will Be $65 Per Barrel By the End of 2020

  • 1 week ago
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In a recent article on Forbes, President and CEO of King Operating Corporation and author of The Upside of Oil and Gas Investing Jay Young makes a bold claim. He suggests that the price of oil will return to $65 or greater per barrel by the end of the year. "Sit tight and don’t panic. We’re going to be fine. We’ve been here before" claims the article, suggesting that the industry has been here before. Why? According to the author, the current price of oil has little to...

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These Calgary Employers Are Hiring Temporary Workers Right Now

  • 1 week ago
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During these challanging times, many of you in Calgary may be looking for temporary jobs in efforts to bridge the gap between now and when Oilfield work may stabalize. To that end, we've begun to create a list of employers in the Calgary area - some of which or oilfield and construction, many of which are not - in attempts to help you find work. You may find these below: Amazon: Hourly Pay Rate: $18.15 *Base pay is $16.15/hr. Earn additional $2.00/hr through 4/30/2020 (Night Shift Premium - A...

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