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Old 04-22-2021, 08:32 AM   #6061
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That guy must be a big William Hung fan!
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Old 04-23-2021, 08:48 PM   #6062
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That is good news. For those mobile enough to leave O&G and find another spot these last 6-7 years, would you return?

Its something I have fought with myself. I really like the new industry I am in, and got lucky it was the same type of roll, so I could move back.

I just struggle with the culture of O&G. The highs and lows and TBH the seemingly laggard culture when it comes to technology, women in leadership, work/life balance, and other social issues.

I thought my last company was pretty good on this in O&G and then moved out and realized they weren't as great outside the sector. Seemed a bit old boys club comparatively.

Funny how much I realized what I truly value over just money after I left. It was 5 years ago and maybe things have evolved?
I left about ten years ago and haven’t looked back. Didn’t even take the placement services offered when I got the axe. The work was interesting, the field was great, but completely agree with you about the ####e culture. No thanks.
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Old 05-06-2021, 11:08 AM   #6063
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This is concerning. The climate change war is getting out of hand.

https://www.theglobeandmail.com/poli...-by-next-week/

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Michigan Governor Gretchen Whitmer’s office says a key petroleum pipeline or Central Canada that runs through the Great Lakes state is a “ticking time bomb” and that Calgary-based operator Enbridge Inc. would be breaking the law if it doesn’t shut it down next week as she has ordered
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Old 05-06-2021, 11:14 AM   #6064
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This is concerning. The climate change war is getting out of hand.

https://www.theglobeandmail.com/poli...-by-next-week/

It's a massive political move. Again. and again. and again.

Enbridge has done extensive engineering and environmental work to validate the safety, and need for the line. Especially when compared with the alternatives and respective risks/probabilities for alternate modes of transport. What they need is another massive cold snap to remind them of their short memories. It's SUPER annoying that so many of the folks that complain don't suggest viable and valid alternatives that can be implemented in the short and medium term.
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Old 05-06-2021, 11:14 AM   #6065
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Whenever I think of the old downtown O&G culture, I think of this guy from the Office:

Todd F. Packer

The F stands for Fudge
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Old 05-06-2021, 03:03 PM   #6066
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Is anyone going to be upset if they shut down line 5? You would think Quebec and Ontario would be thrilled to have a dirty pipeline shut down.
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Old 05-06-2021, 03:41 PM   #6067
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https://www.cbc.ca/news/canada/edmon...nies-1.6016843

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Alberta is changing how it calculates the payments oilsands mines make to ensure there's enough money to clean up the mess they leave behind.

The province says the decision is in reaction to low oil prices last year, which briefly reached negative values.

Lisa Fairweather of Alberta Environment said keeping the old program would have cost the industry billions of extra dollars, even though the environmental risk of the mines hasn't changed.

She said Thursday's move is temporary until a complete review of environmental security payments is held this summer.

Critics say the changes will reduce payments into a cleanup fund that the auditor general has said is already too low.

Under the changes, Alberta will no longer calculate payments based on a company's environmental liabilities and its assets.

Instead, the calculation will be based on a company's revenue.
So, if you don't make enough revenue, the government is publicly telling the world your liability is actually the Province of Ab's?

Can any industry people here shine light on what type of magnitude of change this would be for the few surface mining oil sands companies?

Any idea on what $/bbl would need to be for this to roughly mean a higher payment (I get revenue is more than just that, but trying to understand the actual impacts of this)

From a math perspective, it seems insane to tie the liability levy to revenue and.... not the value of the liability.

Last edited by Mull; 05-06-2021 at 03:44 PM.
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Old 05-06-2021, 08:41 PM   #6068
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It's a massive political move. Again. and again. and again.

Enbridge has done extensive engineering and environmental work to validate the safety, and need for the line. Especially when compared with the alternatives and respective risks/probabilities for alternate modes of transport. What they need is another massive cold snap to remind them of their short memories. It's SUPER annoying that so many of the folks that complain don't suggest viable and valid alternatives that can be implemented in the short and medium term.

Here's a great Rex Murphy writeup in the National Post...
https://nationalpost.com/opinion/rex...-line-5-pickle
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Old 05-06-2021, 08:51 PM   #6069
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It's a massive political move. Again. and again. and again.

Enbridge has done extensive engineering and environmental work to validate the safety, and need for the line. Especially when compared with the alternatives and respective risks/probabilities for alternate modes of transport. What they need is another massive cold snap to remind them of their short memories. It's SUPER annoying that so many of the folks that complain don't suggest viable and valid alternatives that can be implemented in the short and medium term.

Here's a great Rex Murphy writeup in the National Post...
https://nationalpost.com/opinion/rex...-line-5-pickle
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Old 05-06-2021, 09:06 PM   #6070
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That line getting shut down would be a disaster for Alberta oil producers, would it not?
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Old 05-07-2021, 08:32 AM   #6071
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That line getting shut down would be a disaster for Alberta oil producers, would it not?
Yes. If its shut down that will lower the price or oil in the US Midwest, which is where most of our oil goes. It would almost certainly blow up the differential.

But it would also cause supply shortages in Ontario. So hopefully thats enough to save it.

Last edited by bizaro86; 05-07-2021 at 08:36 AM.
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Old 05-07-2021, 09:10 AM   #6072
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Yeah the line shutting down isn't really going to affect Ontario and Quebec - mostly Alberta.

That's because Quebec can just ramp up their imports from world markets, then ship to Ontario. It'll be a few weeks of disruption, but they'll be able to find something.

AB would be hammered with no alternative.
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Old 05-07-2021, 09:19 AM   #6073
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Yeah the line shutting down isn't really going to affect Ontario and Quebec - mostly Alberta.

That's because Quebec can just ramp up their imports from world markets, then ship to Ontario. It'll be a few weeks of disruption, but they'll be able to find something.

AB would be hammered with no alternative.
How? Are there any pipelines that carry from east to west? Or I guess ship by rail but not sure if they are set up with rail terminals on the scale that would be required.
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Old 05-07-2021, 09:50 AM   #6074
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Yeah the line shutting down isn't really going to affect Ontario and Quebec - mostly Alberta.

That's because Quebec can just ramp up their imports from world markets, then ship to Ontario. It'll be a few weeks of disruption, but they'll be able to find something.

AB would be hammered with no alternative.
Instead of paying WCS though they pay Brent so an immediate 20% increase in the cost of gas.
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Old 05-07-2021, 09:50 AM   #6075
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How? Are there any pipelines that carry from east to west? Or I guess ship by rail but not sure if they are set up with rail terminals on the scale that would be required.
Probably some tankers that can travel through the Great Lakes to Sarnia.
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Old 05-07-2021, 10:16 AM   #6076
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Its just insane how silly Canada is and short sighted.


I mean sure we can ship to rail, but to replace what those two provinces need, we'd pretty much have to forget about shipping other products by rail. Plus train transport is extremely carbon intensive. We could ship it by truck, but capacity and carbon emissions.


The Libs were bragging about a tanker going from Vancouver to the St Louis all the way basically around North America, imagine the up tick in tanker traffic, and freighters are bad environmantally as well, and the BC hippy crowd would protest the crap out of it. Bad optics man bad optics.


If this pipeline gets shut down, Alberta gets extremely screwed, I was reading about 544,000 barrels a day vaporizes. Nobody is talking about that much when it comes to the costs of this idiotic governor. Ontario and Quebec would demand a massive ramp up in foreign oil from SA and other countries with worse environmental standards and much worse regimes running them.


Who knows if this is going to be saved in courts, you can't count on a judge to rule in favor of economics anymore, or treaties anymore which is what Enbridge is hanging their hat on.


It'll be interesting if the governor sends in the national guard to shut this thing down if Engridge refuses to shut the pipeline down. But if it does get tied up in court for example with the oil pumping the Liberals should be doing a crash build of Energy East period. If anything is in the national interest, this is.
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Old 05-07-2021, 10:34 AM   #6077
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I just want to chime in that while the O&G culture is far from perfect. There have been some really big strides during my 10 years with the one company. Where we were a decade ago to today is drastically different.

It's encouraged to be more vulnerable now, admit mental health struggles. Gender and race are also talked about a lot in a sense of how can we all work together while maximizing each others potential. A lot more open, frank dialogue exists now than it did at any point before.

Like I said, far from perfect but I dont think its at all as toxic as some make it out to be. And considering how much time and money Canadian O&G companies invest in environmental, indigenous, and community initiatives I'd say they're still the leader by far in many ways. We would be absolutely ####ed without them. Despite all the roadblocks, red tape, protests, Canadian O&G companies remain a pillar for most us, whether directly or indirectly.
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Old 05-07-2021, 12:37 PM   #6078
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Instead of paying WCS though they pay Brent so an immediate 20% increase in the cost of gas.
I thought the refineries out East were primarily geared for lighter oil. Presumably they are being supplied with some Bakken oil in addition to WCSB lights that connect from the North Dakota system that feeds into Superior then Line 5. These barrels would be priced more similarly to Brent?
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Old 05-07-2021, 02:24 PM   #6079
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I thought the refineries out East were primarily geared for lighter oil. Presumably they are being supplied with some Bakken oil in addition to WCSB lights that connect from the North Dakota system that feeds into Superior then Line 5. These barrels would be priced more similarly to Brent?
The differential is WCS to WTI
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Old 05-09-2021, 04:59 PM   #6080
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I personally would not return due to the instability. Even if a great opportunity comes around, you are a $10 downswing in WCS from losing that job all over again. People always talked about the spectre of layoffs from companies going under, but it's often forgotten that there is the additional risk of your company being bought out from under you as the big boys consolidate during fire sales, therefore making you redundant yet again.
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