Calgary based drilling company Trinidad Drilling is looking at options to move their company to the US, or possibly sell the company.
Drilling companies like Trinidad Drilling created thousands of jobs mostly in Alberta over the last decade as production drilling increased with holes deeper than 3 kilometres deep.
Trinidad Drilling is losing money in Canada thanks the Pipeline fights between provinces, wage placement, new labour laws and higher taxes under a federal Liberal government and local Alberta NDP government.
Trinidad Drilling CEO Brent Conway says it only makes sense to move production to the US.
“What’s happening in the U.S.? They’re lowering taxes, they’re building pipelines and they’re starting to export oil,” he said.
In Canada, he added, “we’ve raised taxes, we’re increasing costs because of labour laws that are changing, we aren’t building pipelines and we can’t get federal or provincial governments to do anything to help us.”
The company said they will reduce costs by terminating head office workforce and lowering wages for now.
Another big company down the drain thanks to those who voted the wrong Canadian leaders across nearly half the country.
Benjamin Diaz started working for Debate Report in 2017. Ben grew up in a small town in northern Ontario. He studied chemistry in college, graduated, and married his wife a year later. Benhas been a proud Torontonian for the past 10 years. He covers politics and the economy. Previously he wrote for CTV News and the Huffington Post Canada.