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Canadian Politics

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I didn't think we had a thread for this. 

Is Trudeau this out of touch or does he just not care?

 

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Rachel Notley is expected to announce this evening that there will be a government mandated oil production output cut for Alberta oil. Presently, because there aren't enough pipelines to move the product, there is a surplus of 35 million barrels in storage.  The price differential between Western Canadian Select (WCS) & West Texas Crude (WTC) is over $40.00. There is a lot of discussion how to get this price differential down & it seems that this is the route to go.  From the oil industry to politicians. Although some in the oil industry oppose this & feel the market should set the price & not the provincial government. 

https://www.ctvnews.ca/business/will-alberta-cut-oil-production-notley-to-make-announcement-today-1.4201372

 

Edited by SpeedFlex27

17 hours ago, SpeedFlex27 said:

Rachel Notley is expected to announce this evening that there will be a government mandated oil production output cut for Alberta oil. Presently, because there aren't enough pipelines to move the product, there is a surplus of 35 million barrels in storage.  The price differential between Western Canadian Select (WCS) & West Texas Crude (WTC) is over $40.00. There is a lot of discussion how to get this price differential down & it seems that this is the route to go.  From the oil industry to politicians. Although some in the oil industry oppose this & feel the market should set the price & not the provincial government. 

https://www.ctvnews.ca/business/will-alberta-cut-oil-production-notley-to-make-announcement-today-1.4201372

 

I get why Notley is doing this and so am not totally against it.  It's not her fault that our country is so screwy we can't even build a simple pipeline.

37 minutes ago, kelownabomberfan said:

I get why Notley is doing this and so am not totally against it.  It's not her fault that our country is so screwy we can't even build a simple pipeline.

It's not addressing the real issue and I doubt it has much impact in the short term, but she basically had to do it cause not doing anything isn't the answer either. 

 

This damned country is so ******* screwed up we can't work together to do anything at all and we're all going to suffer as a result. 

    3 hours ago, kelownabomberfan said:

    I get why Notley is doing this and so am not totally against it.  It's not her fault that our country is so screwy we can't even build a simple pipeline.

    the price of a barrel of WCS is up $10 to $32 a barrel.  So, it's had the desired effect. She really had no choice. meanwhile, our useless PM & his government just sit on their hands  Anyone who runs for the Libs in the next federal election in SK & AB will get wiped out. 

    49 minutes ago, SpeedFlex27 said:

    the price of a barrel of WCS is up $10 to $32 a barrel.  So, it's had the desired effect.

    I have a hard time believing that it has an effect already. The whole idea is to lower the glut, which takes more than a day. 

     

    So Justin has $50 million for education overseas but no $ for our vets? Media should be all over that. Its almost as if they've been paid off. :55_frowning:

    17 minutes ago, rebusrankin said:

    So Justin has $50 million for education overseas but no $ for our vets? Media should be all over that. Its almost as if they've been paid off. :55_frowning:

    Well he wanted to impress his BFF Trevor Noah so there was that.

    3 hours ago, 17to85 said:

    I have a hard time believing that it has an effect already. The whole idea is to lower the glut, which takes more than a day. 

     

    I don't claim to be an expert on the financials of the oil industry but I believe that  these are futures contracts.  Also, if you don't believe the numbers then google then...

    37 minutes ago, SpeedFlex27 said:

    I don't claim to be an expert on the financials of the oil industry but I believe that  these are futures contracts.  Also, if you don't believe the numbers then google then...

    Oh no I believe the numbers, I just feel there are other reasons for a price increase, 

    23 minutes ago, 17to85 said:

    Oh no I believe the numbers, I just feel there are other reasons for a price increase, 

    Okay, cool. It made a difference... today. 

    Edited by SpeedFlex27

    3 hours ago, SpeedFlex27 said:

    I don't claim to be an expert on the financials of the oil industry but I believe that  these are futures contracts.  Also, if you don't believe the numbers then google then...

    Can a company book oil on a futures contract - the way you can with grain? 

    1 hour ago, Mark H. said:

    Can a company book oil on a futures contract - the way you can with grain? 

    Yes.  It is similar to purchasing grain. You agree to buy a certain number of barrels at a price on a certain date.

    Edited by SpeedFlex27

    • 2 weeks later...
    19 hours ago, johnzo said:

    A podcast series about my hometown, murder bay. Sad, tragic, and infuriating.

    https://www.canadalandshow.com/shows/thunder-bay/

    We have the same scenarios happening up north here far too often.  What's really frustrating is how much media coverage ya'all get in the south for this stuff compared to us.

    • 4 weeks later...
    • 2 weeks later...
    • Author

    This is actually really interesting 

     

    • 3 weeks later...

    Trudeau tried to pressure Judy Raybould to drop SNC charges? What???

    9 hours ago, blue_gold_84 said:

    A bit of a low brow move but that's where politics are at these days. At least it's good for a chuckle.

    Although, I'm sure his comments yesterday will give his opponents a ton of fodder for their cannons now.

    It's sad- the only thing worse than the Justin Trudeau Liberal government... is the conservative party of Canada. 

    14 hours ago, wanna-b-fanboy said:

    It's sad- the only thing worse than the Justin Trudeau Liberal government... is the conservative party of Canada. 

    Eh. From what I can tell, they're all just garbage in different coloured bags at this point. It's pretty disheartening as a voter.

    Golden Age of politics we are definitely NOT in...

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