Official (Alberta) Oil Discussion Thread

[Bootsy]

Originally Posted by puffnstuff

Mayor of Vancouver is no good.

http://fairquestions.typepad.com/ret...n-finance.html

He's a paid activist for one of the biggest foreign interest groups against Canadian oil and gas

[Ozy_Flame]

One of the respondents asked Nenshi in a reply if he'll use the official City of Calgary Twitter account to hurt the economy of BC, and Nenshi reponds "No chance". Thought it was good for a few laughs, haha.

[Izzle]

Interesting last few weeks.

Oil primarily down (Close to $40/bbl) due to larger than expected inventories coupled with a large number of US Shale rigs going back online.

This morning oil's at close to $45/bbl due to OPEC "thinking" about an output freeze. Personally, I doubt it is going to stay at this level, panic will set in quickly and oil will fall back to $40/bbl. Im not quite ready to get the double meat yet from Subway yet. Heck I wouldnt even get a meat and a half for now. Saving it for a rainy day.

[burn_this_city]

EIA reported a decent draw of both Oil and Gasoline inventories.

http://oilprice.com/Energy/Energy-Ge...line-Draw.html

[nik-]

Oil didn't really do a whole lot today on that news though, basically recovering the drop from yesterdays API negative report. I was expecting more, but it's gone up $7 in the last couple of weeks, so lets hope it keeps creeping.

[CaptainCrunch]

Originally Posted by PaperBagger'14

I've never understood the idea of "BC, AB and SK should separate!". As much as I don't see any monetary benefit we have by being part of Canada, BC is against pipelines (and Alberta's economy) as much as anyone.

It just baffles me that the federal government is sitting back and basically letting these provinces break constitutional law when it comes to the flow of Canadian Products across Canada.

I personally think that the Semi trucks carrying Vancouver products across Alberta are dirty and each one needs to be painfully inspected at BC's costs if they want to continue to move their products through our province. These inspections could take 5 days per truck, and since we have a shortage of refrigeration units, most of the BC goods will go bad.

I also think Alberta should go into the arms business, specifically weapons of mass destruction. Nukes, chemical biological. Bombs missiles and everything else that goes kaboom, I wonder if BC and Ontario would try to block the shipment of those.

The only real thing that the NDP has done that I've approved of is told BC that we're not buying their power. We need to go a step further, put tarriffs on all BC products on our shelves, and charge a toll for semi trucks with Ontario and BC and especially Quebec license plates.

I also believe that environmental groups that receive funding from groups like Tides and Rockerfeller that are linked to US Oil should be audited and lose their tax free status.

I'm so sick of this stupidity, I'm a strong proponent of Canada, I always have been, but I'm starting to think that we'd be better off if we weren't so friendly with the other provinces anymore.

[CampbellsTransgressions]

Originally Posted by Violator

https://twitter.com/CityofVancouver/...50343176417280

well......

Trudeau really painted himself into a corner by blocking Northern Gateway. How could he justify blocking Kinder Morgan but not Energy East when they're both receiving opposition for the same reason? He surely has to approve at least one pipeline, and I'm starting to think it will be Northern Gateway as it will upset the fewest amount of people.

[CaptainCrunch]

Or he'll tie things up for the next three years, and then make it an election issue, get the environmental vote and never approve anything.

[para transit fellow]

New drilling and jobs under Modernized Royalty Framework
http://www.alberta.ca/release.cfm?xI...39E83DCEE4EA5B

Is this the program where oil and gas wells get a royalty treatment similar to oil sand megaprojects (i.e. low royalty rate until capital cost recovered)?

[GGG]

Originally Posted by CampbellsTransgressions

Trudeau really painted himself into a corner by blocking Northern Gateway. How could he justify blocking Kinder Morgan but not Energy East when they're both receiving opposition for the same reason? He surely has to approve at least one pipeline, and I'm starting to think it will be Northern Gateway as it will upset the fewest amount of people.

They aren't Recieving opposition for the same reason. There are legitimate concerns about the tanker traffic in that area.

[GGG]

Originally Posted by para transit fellow

New drilling and jobs under Modernized Royalty Framework
http://www.alberta.ca/release.cfm?xI...39E83DCEE4EA5B

Is this the program where oil and gas wells get a royalty treatment similar to oil sand megaprojects (i.e. low royalty rate until capital cost recovered)?

Sure is.

Thanks NDP

[Senator Clay Davis]

Enbridge buying Spectra, all stock. Enbridge becomes largest non-bank company in Canada.

Enbridge Inc. of Calgary plans to buy Houston-based Spectra Energy Corp. for stock worth $37 billion.

The combination of the two pipeline companies would create a North American energy infrastructure giant, to be called Enbridge Inc. and headquartered in Calgary.

The combined company's natural gas pipelines business would be based in Houston, and the liquids pipelines business would be based in Edmonton.

The companies say they expect to achieve operational savings worth about $540 million on an annualized basis, most of it achieved in the latter part of 2018. They also expect an additional $260 million of tax savings beginning in 2019.

Under the proposed deal, shareholders of Enbridge would own about 57 per cent of the combined company and the rest would be owned by Spectra shareholders.

http://www.cbc.ca/news/business/enbr...deal-1.3749340

[Looch City]

Damn that's a huge deal!

[Locke]

That is a huge deal.

[OldDutch]

Great to see them remaining in Calgary. Enbridge is federated model, but if they keep that structure they'll need a larger corporate presence. If anything they may consolidate more corporately (ie: Separate IT, Engineering, Operations group etc.) Great win for the local economy.

[Azure]

Especially great if Iran agrees with Russia and Saudi Arabia to maybe cut back supply and get the oil price a bit higher.

Gotta think the deal was a steal at this point compared to maybe 2-3 years ago.

[calgarygeologist]

Originally Posted by Locke

That is a huge deal.

These huge deals kind of boggles my mind. I was just reading about the possible Monsanto deal this morning before hearing about the Enbridge deal. Bayer has increased their bid for Monsanto to $65B USD. It is tough to wrap your head around a company the size of Bayer.

[Regorium]

I think the major pipeline companies are seeing the writing on the wall.

There really isn't going to be any new major infrastructure coming online in Canada for the next billion years so the only way to grow your company in a substantial way is acquisitions.

[IliketoPuck]

And more specifically, acquisitions with large, U.S. footprints and expansion projects.

[IliketoPuck]

To expand on my previous post, I would encourage those with a few minutes to watch the video in the link:

http://www.bnn.ca/oil-patch-sentimen...a-ceo-1.562463

What is occurring in the Canadian midstream industry is a direct result of our inability at a provincial and federal level to provide a stable regulatory regime capable of approving large scale projects. We, as a country, have caused our major, home grown midstream companies to look to our greatest competitor for expansion opportunities.

These are real dollars not being spent in the Canadian economy. Billions of dollars that will not filter into medicine, education, welfare, infrastructure.

I hope people really start to consider the folly and naivete of trying to obtain environmental social license the longer this drags on.

We are letting the Americans aim the gun at our foot, but we are the ones pulling the trigger.