The Saudis have - I think - almost a trillion bucks parked on Wall Street, that plays a massive role in funding the US Treasury. Unfortunately, no US politician is going to want to rock that apple cart too much.
Sadly, if you dig into Canada’s financial sector you’re going to find we’re also very vulnerable to the capital SA has at its disposal to weaponize.
This new three-way alliance between the US, Israel, and the Saudis has really emboldened the nutbars over there. Murdering a high-profile journalist on the soil of another country (embassy grounds, but whatever) is a very big deal.
MOD EDIT.
I thought they were into the treasury market for about 10% of total US debt...like 180 billion. They also have their own stock market which is getting killed now. But I'm wondering if the biggest loss might be Aramco deciding to list somewhere other than the NYSE. That would break Trump's heart.
It is a garbage country. Too bad this will just disappear and arms deals and oil deals will go on.
Last edited by Iowa_Flames_Fan; 10-16-2018 at 10:58 PM.
Energy East is an export pipeline. It was not intended to supply East Canada with oil as far as I know?
It should be, upgrade a couple of the 5 eastern refineries to handle WCS and watch Alberta explode. Not only would Canada not need Saudi oil, western Europe wouldn't either.
Only an idiot Country would give $10 million per day to the Saudi's for Oil when we have the third most oil reserves in the world.
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It should be, upgrade a couple of the 5 eastern refineries to handle WCS and watch Alberta explode. Not only would Canada not need Saudi oil, western Europe wouldn't either.
Only an idiot Country would give $10 million per day to the Saudi's for Oil when we have the third most oil reserves in the world.
Quoted for the absolute truth, in every way possible...
It should be, upgrade a couple of the 5 eastern refineries to handle WCS and watch Alberta explode. Not only would Canada not need Saudi oil, western Europe wouldn't either.
Only an idiot Country would give $10 million per day to the Saudi's for Oil when we have the third most oil reserves in the world.
Why make money when you can just dance. This is what happens when you have a trust fund kid leading the nation.
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It should be, upgrade a couple of the 5 eastern refineries to handle WCS and watch Alberta explode. Not only would Canada not need Saudi oil, western Europe wouldn't either.
Only an idiot Country would give $10 million per day to the Saudi's for Oil when we have the third most oil reserves in the world.
Buying Saudi oil has always been more about buying influence. Think of it more as bribe to keep other countries out and to keep supply lines in the event of international conflict.
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Why make money when you can just dance. This is what happens when you have a trust fund kid leading the nation.
You do realize Stephen Harper appeared on a dance show in India when he was PM while he was on a political trip right? I don’t recollect people whining about that trust fund kid. Or is there a double standard?
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What I am hearing is that the Canadian government should intervene in the free market in order to stop the flow of Saudi Oil purchased by a private company and impose a mandate to build refinery capacity so that they can be forced to purchase more expensive Alberta heavy oil for the sake of Canada as a society even if it impedes their profitability. And most of the argument against Saudi oil is that their government and environmental standards are so low as to not provide the social liscense required by the average Canadian citizen.
How very socialist of this thread.
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What I am hearing is that the Canadian government should intervene in the free market in order to stop the flow of Saudi Oil purchased by a private company and impose a mandate to build refinery capacity so that they can be forced to purchase more expensive Alberta heavy oil for the sake of Canada as a society even if it impedes their profitability. And most of the argument against Saudi oil is that their government and environmental standards are so low as to not provide the social liscense required by the average Canadian citizen.
How very socialist of this thread.
Saudi Oil sells for $80 right now and Canadian oil sells for $20. So right off the bat you're on shaky ground here.
And not sure what the point of the social license argument is but I'd say the fact that easterners are fine buying oil from Algeria Saudi and Venezuela over ours means that it doesn't exist. Or they're jsut incredibly stupid.
Last edited by DiracSpike; 10-15-2018 at 11:28 AM.
Saudi Oil sells for $80 right now and Canadian oil sells for $20. So right off the bat you're on shaky ground here.
And not sure what the point of the social license argument is but I'd say the fact that easterners are fine buying oil from Algeria Saudi and Venezuela over ours means that it doesn't exist. Or they're jsut incredibly stupid.
How much added cost is the refining process? How much capilization cost is required to build the upgrading process? What is the incremental increase in profits based on the export terminal vs upgrading and reselling a lower quality oil. Would they even have a suffiecient market?
Sure it has a huge differential right now, but that didn't exist even 6 months ago. Will that differential last? If they start purchasing what affect will that have on price longer term?
My point is that it is a much more complex decision to make than, Saudi sucks and we should buy Alberta Oil. The last Trudeau tried to force the country to support itself in regards to Oil "in the interest of Canada", and that didn't turn out so well.
As for the social liscense it is just pointing out that the argument against Saudi Oil is based on their lack of social standards, you know, their social liscense. And yet the same group of people decry Notely using the term or that it doesn't exist.
As for "easterners" being fine with Saudi oil, that is just more divisive East vs West bullcrap. We live in a market society where profit drives almost every decision. This isn't Joe Blow New Brunswicker making the decision to buy Saudi Oil, it is Irving. The average consumer is only concerned about price. Their decision might change now based on the differential, but EE was never going to be a made in Canada solution, it was going to make them loads of money with their export terminal.
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How much added cost is the refining process? How much capilization cost is required to build the upgrading process? What is the incremental increase in profits based on the export terminal vs upgrading and reselling a lower quality oil. Would they even have a suffiecient market?
Sure it has a huge differential right now, but that didn't exist even 6 months ago. Will that differential last? If they start purchasing what affect will that have on price longer term?
My point is that it is a much more complex decision to make than, Saudi sucks and we should buy Alberta Oil. The last Trudeau tried to force the country to support itself in regards to Oil "in the interest of Canada", and that didn't turn out so well.
As for the social liscense it is just pointing out that the argument against Saudi Oil is based on their lack of social standards, you know, their social liscense. And yet the same group of people decry Notely using the term or that it doesn't exist.
As for "easterners" being fine with Saudi oil, that is just more divisive East vs West bullcrap. We live in a market society where profit drives almost every decision. This isn't Joe Blow New Brunswicker making the decision to buy Saudi Oil, it is Irving. The average consumer is only concerned about price. Their decision might change now based on the differential, but EE was never going to be a made in Canada solution, it was going to make them loads of money with their export terminal.
Except regulatory red tape and politics (ie. East vs West "bullcrap") seem to be driving almost every decision that impacts Canadian oil as of late.
Yeah look at him "dancing". Must be the stick up his butt, right?
And Harper was a trust fund kid? Wow, accountants at Imperial Oil sure made a lot.
So if JT would of been just standing it would of been ok? My point is both parties do that kind of PR so why hang one but not the other? As for the trust fund thing it was more tongue in cheek.