Canadian (WCS) Oil Price / Job Fallout

[the big wheel]

we have been co op customers all our life
haven't been able to buy any from them this year
last truckload was $. 95 from a competitor , $.995 from OUR co op
federated has lost touch with reality , they are really hurting rural co ops
time for a reset and start over with the co op thing

Somebody has to pay for all those new buildings everywhere. It's not cheap to build those with the price of fuel to transport building supplies. Hahahaha

[ajl]

Good news this morning is that Canada has signaled a willingness to move a bit on the dairy issue so maybe there will a NAFTA deal after all. At least the source I read said so. This is not going to be all out free trade in dairy but a step in the right direction anyways. The difference to consumers in Canada will be marginal but we will take all the help we can get.

[helmsdale]

Somebody has to pay for all those new buildings everywhere. It's not cheap to build those with the price of fuel to transport building supplies. Hahahaha

You'd think our new amalgamated coop won the lottery. In a sense I guess they did. Medicine Hat used to be a fairly lean organization, but since they merged with south county, there's been a building spree. The renovation of the old hardware store into fancy office space said to be $1M+, new tank farms, cold storage sheds, paved cardlock lots, etc...

But when you drop the dividend by 1/3 or more, then raise the retained equity by a multitude of 15, it gives you ALOT of cash to spend. Not to mention fuel pricing that used to be very competitive isn't even in the ballpark now. The other local supplier wasn't keeping a tandem truck busy, with the delivery driver spending most of his hours in the convenience store selling smokes and sodas. Now they're delivery numerous super b's direct to farm, have 2 drivers working over time and looking to expand.

[errolanderson]

Alberta bitumen fallout . . . WCS prices have collapsed about 20% over the past ten (10) days.

Cdn economic sirens are sounding . . . .

[the big wheel]

Alberta bitumen fallout . . . WCS prices have collapsed about 20% over the past ten (10) days.

Cdn economic sirens are sounding . . . .

Sounds like time to raise interest rates just around the corner. Hahahaha

[Guest]

Coop had 1.10 at the pump !

Cardlock bill came and was 1.19 + gst !

Not buying at coop card lock anymore !

Same shit been goin on here , asked where in f$&k is our volume discount ????

[errolanderson]

Global Oil Price Update Sept 27th . . . .

Brent Crude (North Sea) $81 per barrel
West Texas Intermediate (WTI) $72 per barrel

Western Cdn Select (WCS) $39 per barrel

WCS discount (spread) to WTI $33 per barrel

[furrowtickler]

Global Oil Price Update Sept 27th . . . .

Brent Crude (North Sea) $81 per barrel
West Texas Intermediate (WTI) $72 per barrel

Western Cdn Select (WCS) $39 per barrel

WCS discount (spread) to WTI $33 per barrel

So why do we pay so much for fuel at the pumps here in Canada ? Yup extreme tax’s that will only get worse via the carbon tax scam

[Rareearth]

The Usa interests rates have to go up to maintain demand for usa bonds, (or usa debt). If demand for bonds goes down —- so does the US dollar ( how far, how fast, reserve currency?). The government sells bonds to fund spending and budget dedicates.

The problem is,
U.S. Government Will Soon Pay More In Interest Than On The Military: The federal government could soon pay more in interest on its debt than it spends on the military, Medicaid or children's programs. The run-up in borrowing costs is a one-two punch brought on by the need to finance a fast-growing budget deficit, worsened by tax cuts and steadily rising interest rates that will make the debt more expensive.With less money coming in and more going toward interest, political leaders will find it harder to address pressing needs like fixing crumbling roads and bridges or to make emergency moves like pulling the economy out of future recessions. Within a decade, more than $900 billion in interest payments will be due annually, easily outpacing spending on other programs. Already the fastest-growing major government expense, the cost of interest is on track to hit $390 billion next year, nearly 50 percent more than in 2017, according to the Congressional Budget Office.

[chuckChuck]

Global Oil Price Update Sept 27th . . . .

Brent Crude (North Sea) $81 per barrel
West Texas Intermediate (WTI) $72 per barrel

Western Cdn Select (WCS) $39 per barrel

WCS discount (spread) to WTI $33 per barrel

How much of the discount is due to lower quality?

There is a prediction of a shortage of diesel in the future as cargo ships are switching away from high sulfur bunker fuel.

Is there a business case for building more refineries in Canada because the crude is cheaper here?

[furrowtickler]

How much of the discount is due to lower quality?

There is a prediction of a shortage of diesel in the future as cargo ships are switching away from high sulfur bunker fuel.

Is there a business case for building more refineries in Canada because the crude is cheaper here?

Ask Federated Co op , they are making a fortune lately.

[WiltonRanch]

How much of the discount is due to lower quality?

There is a prediction of a shortage of diesel in the future as cargo ships are switching away from high sulfur bunker fuel.

Is there a business case for building more refineries in Canada because the crude is cheaper here?

Chinese and native bands putting forth a proposal for a refinery by Edmonton. Another proposal from natives to build a pipeline to the coast. Imagine Chinese money there too. We are one of the highest cost jurisdictions in the world to build refining capacity but consider our extra shipping costs to the gulf where refineries are tooled up to handle Canadian and Venezuelan crude, maybe the added benefit would supersede the high cost. Not to forget a car of diesel, gasoline or other petrochemicals has way more value and creates jobs. Instead of shipping a million barrels of $39 crude into a flooded mid point USA market, ship 1/2 a million barrels of petrochemicals to the coast and hit international markets. Funny if natives follow through you can imagine they will get less resistance from the wakkos.