Official (Alberta) Oil Discussion Thread

[GP_Matt]

To me Social License means that politicians can support it without fear of losing their seat in the next election.

That means convincing moderates that it is a good idea. I don't believe there is a scenario in existence that would convince Elizabeth May and the protesters to support a pipeline between the Oil Sands and the BC coast.

[SebC]

Speaking of Trevor Tombe, he wrote an article for Maclean's that should be required reading for anyone who wants to justify blocking pipelines with greenhouse gas emissions.

Blocking pipelines is therefore a very expensive means of lowering emissions, and far above the likely damages from a tonne of GHG emissions.

[...]

If we wanted to lower global emissions by the same amount as achieved by blocking all future Alberta export pipelines, we could do so more cheaply by putting a price on carbon.

[Tron_fdc]

Interesting couple of days. WTI at $51.36 and rising. Had a friend of mine say it will likely hit $60 by spring.

Are we past double meat and heading into steak and potatoes at the Keg?

[CorsiHockeyLeague]

What is this meat thing that people keep saying?

[nik-]

I'm just eating gold at this point.

[Tron_fdc]

Originally Posted by CorsiHockeyLeague

What is this meat thing that people keep saying?

Someone said they couldn't afford meat on the subway sandwich at $40 oil.

As oil rose people started saying meat was affordable. Then double meat. Then double meat and bacon.

and on and on we go

[burn_this_city]

We have a deal in the office between a few of us to hit up Cesar's for lunch once it hits $55.

[MrMastodonFarm]

Officially in the office when Oil hits 80 we exclusively eat Sushi off a naked lady for lunch.

[GGG]

Originally Posted by Azure

I think you need an overall commitment from the whole world though. For some reason people think that completely eliminating fossil fuel usage is the answer, and I think finding ways to reduce emissions while still increasing oil production is more realistic.

I know Alberta has been leading the way, but as we all know, the Alberta oil industry isn't being portrayed very well.

A lot of it is because the things that reduce emissions are boring. Like putting in Vaccumm insulated tubing on your steam injectors to reduce heat loss to the casing. No one would ever write a story on that but it's becoming more and more common as a method of efficiently using your steam.

Or things like insulated shoes on steam pipelines

The reductions of CO2 in Sagd will happen 1% at a time. The problem is that retrofitting is generally cost prohibitive but each new well can incorporate the latest practices.

[calgarygeologist]

Originally Posted by Tron_fdc

Interesting couple of days. WTI at $51.36 and rising. Had a friend of mine say it will likely hit $60 by spring.

Are we past double meat and heading into steak and potatoes at the Keg?

Not that my predictions matter but I've been telling my buddy that I thought oil might hit $60 before the end of the year. $9 to $10 this month is fairly optimistic but not entirely unreasonable.

[IliketoPuck]

Originally Posted by calgarygeologist

Not that my predictions matter but I've been telling my buddy that I thought oil might hit $60 before the end of the year. $9 to $10 this month is fairly optimistic but not entirely unreasonable.

Would be highly dependent on non-OPEC cuts, and positive inventory draw numbers.

Not impossible, but I would be surprised if we got there before year end.

[burn_this_city]

Originally Posted by MrMastodonFarm

Officially in the office when Oil hits 80 we exclusively eat Sushi off a naked lady for lunch.

Sending my resume..

Its nice to finally see some light at the end of the tunnel.

[skudr248]

Whats the odd's non-opec countries agree? I got in on MEG yesterday and making a killing.. wondering whether or not to cash out

[nik-]

Originally Posted by MrMastodonFarm

Officially in the office when Oil hits 80 we exclusively eat Sushi off a naked lady for lunch.

And then hunt the homeless for sport?

[Weitz]

Originally Posted by Tron_fdc

Interesting couple of days. WTI at $51.36 and rising. Had a friend of mine say it will likely hit $60 by spring.

Are we past double meat and heading into steak and potatoes at the Keg?

Doubt it.

This is just a temporary bump IMO. Will fall back below $50 and hover between $40 and 50 next year.

[burn_this_city]

Originally Posted by skudr248

Whats the odd's non-opec countries agree? I got in on MEG yesterday and making a killing.. wondering whether or not to cash out

Could be a lot of short covering driving the gains.

[Tron_fdc]

Originally Posted by calgarygeologist

Not that my predictions matter but I've been telling my buddy that I thought oil might hit $60 before the end of the year. $9 to $10 this month is fairly optimistic but not entirely unreasonable.

My buddy is pretty tied in downtown, and he's been 100% right the last 2 years. Not sure where he gets his info or opinions, but they were bang on.

Latest calls (the last few months) were $40, then $45, then back to $40, all which happened, and now $50. Figures $60 by spring, $70 by fall 2017.

He even called the output freeze that was agreed on yesterday. It's kind of creepy.

[skudr248]

Originally Posted by Tron_fdc

My buddy is pretty tied in downtown, and he's been 100% right the last 2 years. Not sure where he gets his info or opinions, but they were bang on.

Latest calls (the last few months) were $40, then $45, then back to $40, all which happened, and now $50. Figures $60 by spring, $70 by fall 2017.

He even called the output freeze that was agreed on yesterday. It's kind of creepy.

[Robbob]

or a stonecutter

[Locke]

Originally Posted by nik-

And then hunt the homeless for sport?

Well first of all we should never stop doing that regardless of the economy, it keeps the herd at manageable numbers.