Canadian (WCS) Oil Price / Job Fallout

[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

[beaverdam]

macdon, what website do you use for crude prices?

Could you post a link?,,, thanks in advance.

[farming101]

https://oilprice.com/oil-price-charts https://oilprice.com/oil-price-charts

At least being as how it's oil we can go down in flames...

[macdon02]

This is gonna be freaking epic.... 1 supreme court ruling and a minority group of environmental prostitutes are gonna take down the provinces and break the unions all at once. If your spouse has a retirement package now is a dandy time to pull it and self direct. When these govt bonds start going into default, it won't be pretty.

[errolanderson]

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

Hand over an American $20 bill and you will get back $1.83 in change today for a barrel of Alberta crude.

Further 30% collapse this week . . . .

[Hamloc]

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

I believe MacDon that the royalty percentage on bitumen is based off of the WTI price but of course investment decisions by oil companies and corporate profits would be determined by the WCS price. There is no doubt Canada has been left out of the more profitable environment created by the rise in WTI. What is ironic is that Rachel Notley and many in her cabinet like David Eggen and Shannon Phillips spent years demonstrating against pipeline developement and oilsands expansion, they are now reaping what they have sown. As for Errol's assertion that this will put Canada into recession, I have my doubts this will be the deciding factor but it will certainly lower Canada's economic growth. I am also not down playing what Canada's inability to create an environment under which large industrial developements can be approved in a timely manner is costing both business and government. It is billions and billions of dollars!!

[Horse]

Hamloc are you serious or delusional ,you relay think Nutley did all this in the past 3 yrs, I think the cons sowed the seed and mismanaged the total economy for the last 40 yrs, but keep telling yourself its all the faulty of Nutley.