Gonna be a blood bath, q4 reports which still aren’t released will have bad realized prices cuz oil fell in general and then q1 will start to reflect this. I forget which company but they were hedged to $13 wcs spread and every dollar more ate like 1/7 their cash flow.
King-in-Council on
Low prices cause high prices, this is priming the pump on the next wave. If I can see some discounted oil sands miners I’d be very happy.
Low prices really hurt the constant drill, high decline shale players. We’re still in a cap ex glut and demand isn’t really slowing down.
This whole Venezuela thing has me thinking: if you’re in the “great game” of power and states your playground is going to be Venezuela and trying to turn this into Trump’s Nordstream
the-tru-albertan on
But… but Carney says we are competitive!
Too bad really. 10 years of Trudeau really left us in possibly one of the worst positions in Canadian industrial history. Carney can try as he might, it’s going to take some major amounts of time to clean up this mess. A new pipeline to the west should have been going in, like, yesterday. But Eby says fuck off lol. Even with things increasingly desperate, this country *still* can’t get its shit together.
Puppies_Rainbows4 on
Canadian oil directly competes with Venezuela oil for refinery capacity. More Venezuela oil = bigger discount for Canadian oil sands / heavy oil producers
Majestic-Collar-2675 on
That’s Heavy, man!
NaturePappy on
The Alberta Advantage!
Nofanta on
Capturing Maduro was done to cripple the Canadian oil industry.
9 Comments
Aren’t all oil prices falling?
Why is Brent crude up 5% today then?
Gonna be a blood bath, q4 reports which still aren’t released will have bad realized prices cuz oil fell in general and then q1 will start to reflect this. I forget which company but they were hedged to $13 wcs spread and every dollar more ate like 1/7 their cash flow.
Low prices cause high prices, this is priming the pump on the next wave. If I can see some discounted oil sands miners I’d be very happy.
Low prices really hurt the constant drill, high decline shale players. We’re still in a cap ex glut and demand isn’t really slowing down.
This whole Venezuela thing has me thinking: if you’re in the “great game” of power and states your playground is going to be Venezuela and trying to turn this into Trump’s Nordstream
But… but Carney says we are competitive!
Too bad really. 10 years of Trudeau really left us in possibly one of the worst positions in Canadian industrial history. Carney can try as he might, it’s going to take some major amounts of time to clean up this mess. A new pipeline to the west should have been going in, like, yesterday. But Eby says fuck off lol. Even with things increasingly desperate, this country *still* can’t get its shit together.
Canadian oil directly competes with Venezuela oil for refinery capacity. More Venezuela oil = bigger discount for Canadian oil sands / heavy oil producers
That’s Heavy, man!
The Alberta Advantage!
Capturing Maduro was done to cripple the Canadian oil industry.