Yep..they tend to trade for guns and coke rather than sell outright, fun stuff, but hey it's only pot, doesn't hurt anyone~
They now have mutant fish downstream - kids found one with 2 mouths. Nasty. I was surprised that they went so late in the game, but then again Gates and Buffet don't need to rush anywhere. ... Thinking about it, I'm now surprised that they bothered to go at all. Why?
I wish I'd caught on when you did. I made more this year in Canadian oil than my fixed income trust had made the prior three years combined. Good trading to you Kin!
You must be asian. asians in alberta live 3 families to a house. If you are single, 80K in canada is nothing. After taxes and all the other govt. entitlement wage cuts, you'll be lucky if you take home 40K. Without its vast natural resources, Canada would not be as developed as it is now. As you astutely observed. Canada's biggest problem is the drug culture. Every high school kid is addicted on some type of drug.
Yep, I travel to Alberta once a month, when you ask people there that know what they're talking about they'll tell you we are in year 5 of a 30 year boom. That said the enviromental impact is almost unimaginable, I'm no tree hugger but it even worries me, a couple of facts; They take more water out of the Athabasca river per year than the city of Calgary with over 1mm people. most of that is so contaminated they have to put it in tailing ponds to evaporate,leaving behind some nasty toxic waste,remember the story about the dead ducks this spring? They are strip mining an area the size of Florida. That can't be good,granted there is sweet F**k all up there though. The good news is they are building refineries there bigger than anything in Texas, they are building landing strips for jumbo jets to fly workers in from all around the world, for good paying jobs, this isn't Dubai! There are currently 4 projects with budgets over $28 Billion these are the large ones, there are HUNDREDS of smaller ones and Saskatchewan is just starting to take off, due to the increased royalties in Alberta. I live in Vancouver and I'm surprised not many people here are aware of these simple facts...
Maybe they have been in for years? Just going to see where their money is coming from now? I know a large US investor that has been in the sands for10 years...well he's large now!!! He's made HUGE money
Enviro: It will never stop being a PR problem. IE. the fish story I mentioned. There are likely deformities in animals in any ecology, but this one single fish got press. The duck story earlier in the year made a lot of noise too. Market: Agree 100%. An iBanker who works in the patch was on BNN a few weeks back. His firm does M&A - not bulge-bracket. He's hiring new people and business is booming - no slowdown at all.