Canadian (WCS) Oil Price / Job Fallout

[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.

[poorboy]

No use building more refineries here if the pricks are going to keep charging us gas prices based on Gulf of Mexico price plus freight to get it here.

Used to be an advantage to the county and it’s citizens by having cheap energy to help create jobs and make it more affordable to live this close to the North Pole.

If they want prosperity in Canada quit charging us exhorbitant fuel prices and instead charge the real price based off the cheap crude we use. Get more industry etc and then we won’t need the pipeline to the coast. We would shipping out more finished goods instead.

Big oil and gas plus refineries are very much to blame for their bad fortunes. Been bending Canadians over for far too long.

[errolanderson]

Yikes! Western Cdn Select (WSC) oil price at 9:14 a.m. this morning . . . $25.29 per barrel.

[bucket]

and yet gas and diesel keep climbing.....wow just imagine the bonus for the federated coop management....

[errolanderson]

This bitumen price collapse virtually guarantees a Canadian recession in 2019 (IMO). Full-time jobs will continue to decline.

The discount to West Texas now approaching $50 per barrel? And the Bank of Canada could hike rates later this fall. Good grief . . . .

[bucket]

And two pipelines could have been coming online by now ........**** ...trudeau is stupid.

[macdon02]

Sub $20...... anyone know if royalties are set off WCS? Provinces will be dropping like flies tits up in no time