1754 replies to this topic

[Victoria Watcher]

Yes, the father whose seven year old daughter made wodgets in a factory, ploughed a field from dawn to dusk, and whose son died fighting the local Lord’s local skirmishes sure had a lot of grievances about his kids.

 

that's what most of my letters were about.  

[Mike K.]

I know. They made as much sense then as they do now.

[Victoria Watcher]

Oil prices dramatically dropped as markets opened in Asia on Monday, down more than 25 per cent after a 10 per cent drop on Friday.

West Texas Intermediate crude fell $9 US to $32 and international benchmark Brent fell $11 to $34.

 

It was the largest single-day drop since the beginning of the Gulf War in 1991.

Prices are falling as Saudi Arabia, Russia and other oil-producing countries argue about how much to cut production in order to prop up prices.

Demand for energy is falling as people cut back on travel around the world. The worry is that the coronavirus outbreak will slow economies sharply, meaning even less demand.

 

 

https://www.cbc.ca/n...rices-1.5490535

[Bernard]

Western Canadian Select is down to $17.58 US a barrel, $13.86 lower than WTI.   This is a very low price and could shut down a lot of oil production in Alberta

[LeoVictoria]

Western Canadian Select is down to $17.58 US a barrel, $13.86 lower than WTI.   This is a very low price and could shut down a lot of oil production in Alberta

 

The Saudis are trying to kill/damage US Shale production.   Their costs are lower than the oil sands.   If they are successful at that then the oil sands have no chance.

 

Time to invest in getting off the oil sands and supporting people into other jobs.   There is no future there. 

Edited by LeoVictoria, 12 March 2020 - 10:40 AM.

[Bernard]

Western Canadian Select is at $5.43 this morning

[Mike K.]

Rack is 44.40 this morning.

[Victoria Watcher]

[Bernard]

Western Canadian Select is selling for only $6.11

[Victoria Watcher]

The type of oil from Canada's oilsands is known as Western Canada Select and it, too, is getting hammered, down another $1.41 to $3.82 US a barrel. That's the lowest price for that type of crude on record.


https://www.cbc.ca/n...onday-1.5514653

Edited by Victoria Watcher, 30 March 2020 - 02:20 PM.

[Bernard]

There is a point when supply outstrips demand dramatically and we are there.   I suspect companies are going to be seeking all manner storage facilities (including trains) to try and hold onto the oil till there is a price rise.   

 

The break even price for WCS is about $50 ($35 US)   $5.50 ($3.82 US) a barrel is not sustainable 

[Mike K.]

We can’t get our supply to market, so it’s nearly worthless at a time when the world is being flooded by cheap Saudi/OPEC oil (which Canada imports, and wants to import even more of).

If we had more pipeline capacity our crude would not be selling for $4 and Victorians would not be paying $1 per litre while Edmontonians pay 55 cents.

[vortoozo]

We can’t get our supply to market, so it’s nearly worthless at a time when the world is being flooded by cheap Saudi/OPEC oil (which Canada imports, and wants to import even more of).

If we had more pipeline capacity our crude would not be selling for $4 and Victorians would not be paying $1 per litre while Edmontonians pay 55 cents.

 

It would still be selling at well below cost.

[RFS]

Breaking news TC energy to proceed with Keystone XL after $1.1 billion usd investment from Alberta government

[rjag]

Breaking news TC energy to proceed with Keystone XL after $1.1 billion usd investment from Alberta government

 

Excellent news!

[lanforod]

Good time to build pipelines. Protest groups are banned for the most part!

[Mike K.]

The latest protest efforts are trying to convince the public and governments that the men are at risk, and the camps must close.

 

This after they spent the beginning of 2020 trying to convince the public the men were a risk, and the camps should have closed.

[vortoozo]

Breaking news TC energy to proceed with Keystone XL after $1.1 billion usd investment from Alberta government

 

… a day after the Alberta government laid of 20,000 education workers. The optics are horrible.

[Mike K.]

… a day after the Alberta government laid of 20,000 education workers. The optics are horrible.

 

That's what happens in the real world, though.

 

Alberta needs to get its resources to global markets to pay for those education workers, who currently have no jobs to do so were laid off, and whose jobs returning one day are predicated upon Alberta's economic stability and by extension the country's.

[rjag]

… a day after the Alberta government laid of 20,000 education workers. The optics are horrible.

 

No different than the thousands of Westjet employees or 10's of thousands of service workers who lost their jobs last week. 

 

Schools are closed, contracted teachers will continue to be paid and are working on putting lesson plans online. EA's and support workers are classroom support people. If the schools are closed then they arent working. No different than if the planes arent flying then the baggage handlers arent working. 

Edited by rjag, 31 March 2020 - 09:46 AM.