Oil war

[macdon02]

Where is the Canadian dollar going to end up with oil going down?

.63 initially. If we are not at war in 48 hours, it will be because the President of the US has decided not to. I suspect he's getting absolutely hammered with reasons right now. Say a little prayer tonight, if it was anyone else, the missles would be in the air right now. This is an absolute prime environment for war breaking out. They need a distraction and someone WILL default this week. Commerz, Deutsche, they are done.

[biglentil]

Down 10.65 a barrel now about to see the twenties wti. Crazy

[biglentil]

Just WOW wheels coming right off boyz.

[AlbertaFarmer5]

Wasn't long ago that low oil prices were considered good for the world and US economy, must have been before the shale revolution.

Is there any reason why the US can't isolate themselves from this, and let the rest of the world battle it out to be the lowest cost producer? They spent decades having an export ban to protect domestic supplies, any reason they won't institute an import ban (or at least a minimum price, below which imports aren't permitted). Not a good outcome from a Canadian perspective, but seems like a probable outcome. We would then have no choice but to join the US.

This may finally be the point where low prices cure low prices(eventually).

[macdon02]

[helmsdale]

We just grabbed a 2 handle...

[Integrity_Farmer]

Trudeau buys a pipeline Brent Crude today is $31.00 a barrel. For tar sands bitumen to be economically viable oil prices need to rise $85.00 to $95.00 a barrel. What a cruel joke this all is for the taxpayers.

[helmsdale]

Wow... if oil maintains this 30% down...

$500mil in assets literally gets vaporized!

[AlbertaFarmer5]

Trudeau buys a pipeline Brent Crude today is $31.00 a barrel. For tar sands bitumen to be economically viable oil prices need to rise $85.00 to $95.00 a barrel. What a cruel joke this all is for the taxpayers.

You might want to check your numbers, perhaps ask someone in the industry.

[sk_wheatking]

I wonder what bullshit excuses will come out for the price of fuel to stay where it is? Gas at the pumps should be 40 cents a liter by 8 am, if the price of oil went up 30% overnight they would be slamming ladders up against signs immediately to jump prices.

[Integrity_Farmer]

You might want to check your numbers, perhaps ask someone in the industry.

From oil sands magazine Factoring in blending and transportation, WTI equivalent costs increase to US$60.52 for SAGD and US$75.73 for a stand-alone mine. Those numbers are down 25% and 16%, respectively. The big jump in SAGD breakeven costs reflect the high price of diluent required to blend the bitumen product. Diluent (typically condensate) trades almost at par with WTI.

Those prices convert to $82.53 to $103.00 a barrel in Canadian dollars

[macdon02]

If 27.50 let's go here, i think the 1998 low is a possibility