Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - The ongoing financial turmoil and financial discussion thread

photon · 01-21-2009, 11:29 AM

I was reading somewhere that even countries like Saudi Arabia need $70 or $80 a barrel oil to balance their budgets, there's very few oil based countries that can sustain themselves at $30-$40, so depending on how much you believe the price is political...

Conventional oil is just becoming more and more scarce.

It's not like these companies are canceling their huge oilsands projects and such, they're just pushing them out further, which can only be good for Alberta as it will sustain the benefit to the economy for a longer period.

01-21-2009, 11:29 AM	#859
photon The new goggles also do nothing. Join Date: Oct 2001 Location: Calgary Exp:	I was reading somewhere that even countries like Saudi Arabia need $70 or $80 a barrel oil to balance their budgets, there's very few oil based countries that can sustain themselves at $30-$40, so depending on how much you believe the price is political... Conventional oil is just becoming more and more scarce. It's not like these companies are canceling their huge oilsands projects and such, they're just pushing them out further, which can only be good for Alberta as it will sustain the benefit to the economy for a longer period. __________________ Uncertainty is an uncomfortable position. But certainty is an absurd one.