Sounds wonderful...but since the last fiasco I wonder how much this is going to cost us? Or does the airline have some data indicating this should be a good route...lets hope...luck...

If it is anything like Westjet - they will start small and grow at a controlled pace - may only mean a couple of flights a week to start with. They will have no illusions - with only 2 jets to start there is no way they can waste time on half full flights!

better throw half a million at them to keep them here

Oil sands?

At US$53/barrel the oil sands are not doing too well these days. Projects are being put on hold. CO2 sequestering projects are having problems. Alberta's projected surplus of C$8.5 billion is being reduced to C$2 billion.

They might be flying unemployed people out of Fort McMurray rather than in at that rate.

Sounds like a bad time to start such a service. The pilots may be letting the love of flying jade their business sense.

Considering Suncor breaks even at $8/bbl and is working to reduce that figure, this couldn't be a better time.

CO2 sequestering is more environmental nonsense that will thankfully get shelved during this economic downturn.

This business isnt some half-baked plan, its tapping into an underutilized labour pool. Its better than flying in newfies from the other side of the continent. I'd rather have my kids working as tradespeople or engineers in the oilsands than as showgirls at the Performing Arts Centre.

Suncors operating costs per barrel is about $27 (2007 annual report, page 47). Syncrude (via Canadian Oil Sands) is similar at $25 (2007 annual report, page 24). These per barrel measurements are non-GAAP (not standardized) but COS reveals that with other costs the per barrel costs is about $48. Its doubtful that even the Saudis produce oil at $8 per barrel (even if we are talking cash costs only).

That being said I still disagree with gus and his doom and gloom predictions for the oil patch. Most of the projects in various stages of completion will still be completed and that may take years. No one really expects this $50 oil to last to long (it may go down to say $30, but its going back up in the med and long term). I think that these types of flights are a great idea, who wouldnt rather live in BC vs Alberta? That being said I am unsure that throwing public money at the idea is a good plan. Still its better to subsidize a 'commuter' flight that will bring tax paying citizens to the community rather than subsidizing a holiday flight that maybe brings a few people through PG from the small towns on their way to Mexico.

"...than as showgirls at the Performing Arts Centre. "

Ballet BC just laid off all its staff and dancers, apparently because of a lack of ticket sales and renewal of subscriptions.

Accounting rags are very useful ...for toiletpaper. Oilsands players need $30 oil to break even just like "securitized" mortgages are a fail-safe investment. The purpose of an accountant is to cook the books.

Oil companies will start crying poor here very soon in an effort to win concessions from Alberta's hated new royalty regime. They made crazy money at $25 and will continue to do so. That $8 dollar figure was proudly trumpeted by Suncor execs during the run-up in prices, they have since reversed course as it suits them. Once the gasifier is built, they hope to have costs down to $7/bbl. That was a few years ago now, add a couple bucks for inflation and oil still has a looong way to go before you'll be seeing Rick George down at the soup kitchen.

Saudis produce oil for next to nothing. The reason Saudis drive cars made of silver isn't because oil companies are hard done by.

Maybe we can all fly to Alberta and work during the week and fly back for the week-end.

What would a round trip ticket be?? If it comes in around $250.00 a trip, your looking a $1000.00 per month, which would go a long way to buying or renting a place in Alberta.

"That $8 dollar figure was proudly trumpeted by Suncor execs during the run-up in prices"

Thats the beauty of these types of boards. Anyone can make up a number. No way you can support this statement with a link to Suncor.

Accounting may be complicated, but if you understand the difference between cash costs and accounting treatment (such as depletion and depreciation) its very valid and valuable information.

Its people like this that keep PG in the 70s. There is a distinct animosity from blue collar toward people who may be driven to become professionals (in gamblors case accountants). Thats why the first thing anyone does when they get a designation is leave. Its sad.

You're sad. You live your life in a bubble believing everything you read. I have nothing against accountants. I just know their motives, which are the same as any company employee - to contribute to the health and survival of that company. If it means fudging a few numbers, so be it.

All I gotta say is if you're getting all your oil info from quarterly reports, you're being badly misled. As an industry insider, I know who pays what - I couldn't care less if you believe me. Whats more, you neither have the finances nor the industry insight to run an oilfield service company like the one mentioned in the article therefore you have no business making comments.