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Old 01-12-2016, 01:20 PM   #61
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I'll just leave this here.
http://globalnews.ca/news/2448876/ke...emier-resigns/
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Old 01-12-2016, 01:26 PM   #62
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$1M isnt even enough to drill a single well and complete it. While I appreciate the sentiment, it means nothing
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Old 01-12-2016, 01:29 PM   #63
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$1M isnt even enough to drill a single well and complete it. While I appreciate the sentiment, it means nothing
depending on the location, depth, substance... i bet you could drill a well or two... but that's not really the point.
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Old 01-12-2016, 01:35 PM   #64
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depending on the location, depth, substance... i bet you could drill a well or two... but that's not really the point.
Ok fine, on an existing padsite, with existing infrastructure, and a simple well design yes you could do it for less than $1M.

But it does demonstrate the point that very few are willing to put capital into our market with the NDP in charge.
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Old 01-12-2016, 01:35 PM   #65
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I just think it demonstrates that O'Leary is TrumpNorth.
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Old 01-12-2016, 01:36 PM   #66
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I'm not sure you want Notley to resign...who is next in seniority? If he means the NDP to resign, well the opposition parties are all kinda sucky right now too. And that doesn't change oil floundering at $30.
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Old 01-12-2016, 01:41 PM   #67
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http://boereport.com/2016/01/04/2016...e-fascinating/

Interesting take. Is it possible the industry is over reacting and won't be able to respond quick enough if/when demand becomes higher than supply?
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Old 01-12-2016, 01:50 PM   #68
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Can we all agree that, regardless of your feelings towards the NDP, O'Leary is a moron?

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Old 01-12-2016, 01:56 PM   #69
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Can we all agree that, regardless of your feelings towards the NDP, that O'Leary is a moron?
He is an entertainer....

But I think that right now he is just a desperate investor that got himself too heavily invested in O&G. Just trying to cut his losses. And since he is a "celebrity", he gets to get his thoughts publicized.
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Old 01-12-2016, 01:57 PM   #70
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Quote:
Originally Posted by Leeman4Gilmour View Post
http://boereport.com/2016/01/04/2016...e-fascinating/

Interesting take. Is it possible the industry is over reacting and won't be able to respond quick enough if/when demand becomes higher than supply?
The industry is definitely building in a structural supply deficit. When demand grows (or if a supply source becomes disrupted) I think prices are going to snap back hard. It might not be until 2018 though.

These low prices are probably the best thing to help spur demand though, particularly in China. Heck, I think Saudi's motives were more about spurring demand in China than it was spiting Putin or Iran or anything like that.
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Old 01-12-2016, 02:06 PM   #71
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The fundamentally positive thing that is getting overlooked amidst this supply-driven story is that demand continues to grow.

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Old 01-12-2016, 02:16 PM   #72
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Originally Posted by Tacopuck View Post
Ok fine, on an existing padsite, with existing infrastructure, and a simple well design yes you could do it for less than $1M.

But it does demonstrate the point that very few are willing to put capital into our market with the NDP in charge.
I can't say whether Notley and the NDP are any good or not, haven't paid enough attention to Albertas politics or economy over the years to know, but I am sure with the dollar at sub seventy and oil dropping to, possibly 15 or 20 a barrel, with some predicting a massive global recession, it wouldn't matter if Ralph Klien rose from the dead with Jesus Christ's backing, no one would be risking their money until things got a bit clearer.
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Old 01-12-2016, 02:17 PM   #73
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Originally Posted by Frequitude View Post
The industry is definitely building in a structural supply deficit. When demand grows (or if a supply source becomes disrupted) I think prices are going to snap back hard. It might not be until 2018 though.

These low prices are probably the best thing to help spur demand though, particularly in China. Heck, I think Saudi's motives were more about spurring demand in China than it was spiting Putin or Iran or anything like that.
Couldn't agree more. The supply/demand gap is ~1-2%. Extremely tight. A blip in Ghawar, just one field, could flip that gap to ~1-2% supply deficit.
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Old 01-12-2016, 02:21 PM   #74
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If I was ever a journalist, I would never want to sink to having to take Kevin O'Leary quotes out of context to build an article.
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Old 01-12-2016, 03:02 PM   #75
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Interesting article that evaluates Saudi Arabia's market share, which apparently hasn't really eroded all that much at all since 1994, and explores the idea that OPEC's decision has hugely backfired on them:

http://www.forbes.com/sites/rrapier/...iscalculation/
Wow! No way! Just randomly dumping as much oil into the market as possible and initiating a price freefall on that very oil totally backfired? Damn man, I'd never have seen that - said no economist or economics student or anyone who has ever heard of the mere concept of supply and demand even in passing ever.
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Old 01-12-2016, 03:04 PM   #76
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I can't say whether Notley and the NDP are any good or not, haven't paid enough attention to Albertas politics or economy over the years to know, but I am sure with the dollar at sub seventy and oil dropping to, possibly 15 or 20 a barrel, with some predicting a massive global recession, it wouldn't matter if Ralph Klien rose from the dead with Jesus Christ's backing, no one would be risking their money until things got a bit clearer.
The NDP is obviously not responsible for the global drop in oil prices and the economic downturn in Alberta. And the PCs managed to screw things up so badly last time, that Albertans were just ready for someone different to step in. Really all the NDP needed to do was to maybe stick handle their way through this downturn a little (i.e. they probably could have just stayed the course until things got better) and establish themselves as the next long-term party in Alberta.

Instead, they've managed to botch things up with a poorly timed (and delayed???) royalty review and promises of a carbon tax to the already down-trodden Alberta economy. As far as I'm concerned they got their chance, and so far, they're blowing it hard.
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Old 01-12-2016, 03:09 PM   #77
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The NDP is obviously not responsible for the global drop in oil prices and the economic downturn in Alberta. And the PCs managed to screw things up so badly last time, that Albertans were just ready for someone different to step in. Really all the NDP needed to do was to maybe stick handle their way through this downturn a little (i.e. they probably could have just stayed the course until things got better) and establish themselves as the next long-term party in Alberta.

Instead, they've managed to botch things up with a poorly timed (and delayed???) royalty review and promises of a carbon tax to the already down-trodden Alberta economy. As far as I'm concerned they got their chance, and so far, they're blowing it hard.
This to a tee.
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Old 01-12-2016, 03:17 PM   #78
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Sorry guys, can we keep the NDP/Notley specific talk to the Provincial Election thread (link)?

I'd just hate to see a thread on a topic I clearly love get sidetracked (admittedly, by another topic I love...provincial politics and NDP bashing!).

I know its pretty related, but maybe if we can keep it to O&G specific topics as it relates to the government (royalties, corporate taxes, carbon taxes, energy minister, etc.) instead of just straight up pure NDP/Notley debates?

/lame thread police

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Old 01-12-2016, 03:32 PM   #79
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Sorry guys, can we keep the NDP/Notley specific talk to the Provincial Election thread (link)?

I'd just hate to see a thread on a topic I clearly love get sidetracked (admittedly, by another topic I love...provincial politics and NDP bashing!).

I know its pretty related, but maybe if we can keep it to O&G specific topics as it relates to the government (royalties, corporate taxes, carbon taxes, energy minister, etc.) instead of just straight up pure NDP/Notley debates?

/lame thread police
I don't know the title of the thread is

"Official (Alberta) Oil Discussion Thread"

Seems like a decent spot to discuss the implications of our government on the Alberta Oil and Gas industry.

Besides, that other thread has run its course (the election was over 7 months ago).
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Old 01-12-2016, 04:08 PM   #80
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Of course things that directly relate. I just see such a great opportunity to discuss and learn about the commodity itself, the supply-demand nature of it, and how that affects Alberta. Because that is responsible for at least 90% (I'd like to say 99% to be honest) of what's happening in the province right now. There isn't a damn thing any provincial government can do to change that. They're meaningless in the grand scheme of things. Absolutely meaningless. So I would just love to see the conversation stick to the grand scheme of things. Or at least 90%-99% of it...

Now I'm the one derailing so it's the last I'll say on the matter.
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