Official (Alberta) Oil Discussion Thread

[calgarygeologist]

Originally Posted by Hack&Lube

What are the reasons for the gasoline prices? Still aftereffects from Colonial Pipelines or other?

Isn't the usual excuse because of the change over to summer blend, refinery shutdowns for planned maintenance and the higher demand during the summer driving/travel season.

[BagoPucks]

Its all bull####. We can't sell raw materials for good price but the finished product price never goes down. Sorry for my attitude.

[Monahammer]

Originally Posted by BagoPucks

Its all bull####. We can't sell raw materials for good price but the finished product price never goes down. Sorry for my attitude.

WCS is at like a 5 year high right now.

[Monahammer]

I agree the price of gas increase sucks, but we shouldn't be complaining about the price we're getting right now!

[chedder]

Originally Posted by burn_this_city

WTI is $70 and the carbon tax has started to add up in a meaningful way.

What is the carbon on tax on a litre right now?

[burn_this_city]

Originally Posted by chedder

What is the carbon on tax on a litre right now?

$0.09 in Alberta

https://www.nrcan.gc.ca/our-natural-...s-canada/18885

Baseline federal and provincial taxes are now $0.32/liter, plus the cost of gas and GST on all of it.

[BagoPucks]

My complaint isn't that it goes up, but it never goes down. Maybe I am wrong in my gut feeling.

[Fuzz]

https://www.gasbuddy.com/charts

[BagoPucks]

Don't mind me. Just getting to be a grumpy old man. Graph says it all.

[burn_this_city]

Really wish I took a pic of the $0.65/liter price during peak covid.

[accord1999]

Originally Posted by BagoPucks

Don't mind me. Just getting to be a grumpy old man. Graph says it all.

But I think you have a right to be grumpy. I'd expect that if there was a chart that graphs the ratio between price at the pump/WTI (or WCS), you would find that it had been steadily trending upwards. If WTI gets back to $100, I hate to see what the pump price will be.

[Fuzz]

Originally Posted by accord1999

But I think you have a right to be grumpy. I'd expect that if there was a chart that graphs the ratio between price at the pump/WTI (or WCS), you would find that it had been steadily trending upwards. If WTI gets back to $100, I hate to see what the pump price will be.

Seems pump prices haven't been keeping up. I guess we should all be happy!

[CaptainCrunch]

https://nationalpost.com/commodities...box=1625267051

TC Energy Corp is seeking more than US$15 billion in damages from the U.S. government over the cancellation of its Keystone XL (KXL) project, the Canadian pipeline operator said on Friday.
The company earlier this month officially canceled the US$9 billion project after U.S. President Joe Biden revoked a key permit needed to build it on his first day in office in January.

TC Energy said on Friday it had filed a notice of intent to begin a legacy North American Free Trade Agreement (NAFTA) claim under the United States-Mexico-Canada agreement.

[Nufy]

Good

[Voodooman]

Originally Posted by burn_this_city

$0.09 in Alberta

https://www.nrcan.gc.ca/our-natural-...s-canada/18885

Baseline federal and provincial taxes are now $0.32/liter, plus the cost of gas and GST on all of it.

The taxes in Ontario for a litre are $0.335/litre, but they also have a provincial sales tax price that adds $.10/litre at current pump prices, so their total tax component is $.115/litre higher than Alberta, yet places like Ottawa consistently are the same pump price as Calgary. You can’t tell me we aren’t getting gouged as consumers in Calgary. I have always assumed it’s just because we can afford to be gouged.

[Slanter]

Originally Posted by Fuzz

Seems pump prices haven't been keeping up. I guess we should all be happy!

Amazing example of a misleading graph. The left vertical axis has a range of about $20, right has a range of $70. If you take any section of that graph (ignoring the short fluctuations in oil) the ratio is almost exactly the same.

[Finger Cookin]

The right hand side is in cents. Top value on the left vertical axis is 1.331754 of the lowest value. Top value on the right axis 1.331932 of the lowest value.

I hope you're not paying $119/L for your fill ups.

[Fuzz]

I recently sat down for a very sobering conversation with Dan McTeague, President of Canadians for Affordable Energy, energy analyst and previous Member of Parliament.

As an analyst of energy prices, government policy, and global energy trends, he has serious warnings about a developing economic storm that North America and the world have seen before.

If the IEA is to be leading their 29 member countries with sound guidance, they seem to have a poor grasp of the immensity of the collapse of energy security they are recommending according to McTeague. IEA messaging has become contradictory, preaching reduced fossil fuel use to create “millions of jobs, lift economic growth and keep net zero in reach” in their May 2021 report. Then, just a few weeks after preaching that oil production must decline, the IEA called for OPEC+ to boost output to meet demand recovery and avoid a sharp oil price increase stating: “OPEC+ needs to open the taps to keep the world oil markets adequately supplied,” in their June 2021 report.

McTeague warns that the world is headed for an energy crisis, which he says is music to the ears of Russia and OPEC+ members because they now know that they are the swing producers. He says $100 oil is coming, and strategic petroleum reserves are not enough to cushion the impact. The U.S. has been drawing down on its SPR but it’s still not enough. Global demand and domestic demand are surpassing injection rates as other countries are drawing on their inventories as well. U.S inventories are now 6% below the five-year average and they’re probably going to be 8% below soon. He sees the current focus of IEA member countries as misguided.

https://boereport.com/2021/07/12/can...ergy-security/


Tough to disagree with this. An energy transition may be coming, but it's got a long ways to go. Reality is going to smack the world soon. Good opportunity for Canada, if we aren't busy shooting ourselves in the face. Worth reading this whole article, lots of good insight.

[Lubicon]

Activity for us (my employer) is picking up and we are really being challenged to meet the demand. Supply issues for parts and materials has stretched into ridiculous lead times which our customers are not happy about and who do not want to pay for the increased cost. Not sure how much that matters however as we are finding it incredibly difficult to hire anyone for our shops in Nisku and Calgary, and for our field locations. People have been burned too often with boom/bust or have drank the coolaid and don't want to come work in the 'dead end' oil industry. CERB isn't helping either, it's probably time to wind that program down.

[Macman]

Isn't CERB winding down though, after July here the weekly payments will be reduced $200 and then I think it's only up to 25 weeks total after that.

It was all in that recent Bill C-30.