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The Unknown Poster

Canadian Politics

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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

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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.

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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. 

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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. 

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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. 

 

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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.

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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...

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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, 

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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? 

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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

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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.

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1 hour ago, sweep the leg said:

Maxime BernierVerified account @MaximeBernier

6/ Trudeau has said we are a post-national country, and spends $M to get a UN Security Council seat and $B in aid in other countries. IS HE LOYAL TO CANADA OR LOYAL TO A FUTURE WORLD GOVERNMENT THAT WILL DESTROY CANADA?

iBteWlt.gif?noredirect

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