Gates and Buffet tour Alberta Oilsands

Discussion in 'Economics' started by Siwash, Aug 20, 2008.

  1. Siwash


    "Gates, Buffett Visit Alberta's Oil-Sands Region, Post Reports

    By Kevin Bell

    Aug. 20 (Bloomberg) -- Microsoft Corp. founder Bill Gates and billionaire Warren Buffett toured Alberta's oil-sands region this week and were hosted by Canadian Natural Resources Ltd. and an industry group, the National Post said.

    Gates and Buffett visited northeastern Alberta to satisfy their curiosity and ``with investment in mind,'' the newspaper said today, citing an unidentified person.

    The Canadian Association of Energy Producers made a presentation to the pair, who saw the Horizon development, which will become Alberta's fourth major oil-sands mine when it begins production this year, the Post said.

    A spokesman for Canadian Natural Resources confirmed the visit, which occurred Aug. 18, and declined to comment further, the newspaper said"

    Over $100 Billion is being invested in the Oilsands everyear, Haven't heard much about it on this board.

    Anyone paying attention to it?
  2. Alberta oilsands has been my star investment over the past 3 years.

  3. That's why double-wide trailers are selling for 450K in Ft mc. 750K for a shoddy 3 bed shot-gun.

    500K for a shoddy 3 bed shack in Calgary and Edmonton.

    It's the modern gold rush in northern AB. Those who have connections in the oil sector are making all the money.

    The rest not affiliated with oil ( including the middle class) are living in poverty. Pulling in 80K a year and having to use the food-bank to feed the kids. Welcome to the new Canadian economy.
  4. Siwash


    I know lots of people in Alberta that make $80K or less that are doing just fine,not at the food bank

    Of course they don't spend all their money on crack either...
  5. regardless, $80K a year is poverty, poverty has different levels

    living dead < 100$
    damn fucking poor < 1,000$
    very poor < 10,000$
    average poor < 50,000$
    wealthy poor < 100K$

    lower middle class < 170K$
    middle class < 260K$
    upper middle class < 330K$
  6. you sound like a real pissed guy:D
  7. I have been to Fort. McMurrary Canada.

    $80K is effectively poor up there. Everything has to be shipped in and prices are inflated up the wazoo.

    Double wide trailer on an Acre of land is $900K CAD.

    I know of guys sharing single bedroom apartments [with 10 guys in them, they cycle weeks of who gets the room to themselves], for $3500 CAD rent.

    A McDonalds combo when I was there was $15CAD

    Hell, the person working at McDonald's makes $25 per hour AND STILL HAS TO FIND ANOTHER JOB SOMEWHERE ELSE!!!

    Let me not talk about the homeless and crack problems that they have there too.
  8. Siwash


    Granted in Ft.Mac $80k doesn't go far, but as you point out the kid at MCD is making $25/hr

    If you have a heartbeat and can swing a hammer your gonna make over $100k in the patch.
  9. Highest return/risk business in Canada these days has to be growing and selling pot. The penalties for getting caught are much less than almost anywhere else in the world and you have the biggest market in the world directly south of you.

    I think the fine for growing like 50k of pot is about 2 k and thats if you get caught and convicted!!! Organised crime must be up there in a big big way
    #10     Aug 21, 2008