flanny

Awesome. Sounded like you were more interested in the retail side. Crack spreads are through the roof still. I wonder if they may be in Biden's sites though.

Could be. Do you have a stock for that? Alimentation Couche-tard? Parkland?

Thanks to the plummeting oil share prices valuations are still unreal at $70 oil. Buying opportunity or value trap?

There's nothing to justify, it's just the way the market works. Bidders compete with each other for the oil. The oil companies give it to the highest bidder. Sound good?

I explained it but never mind, I'd just be repeating myself.

I agree oil along with money printing for covid policies are the two major causes of inflation, but I need someone to explain to me why it is my greed (as a shareholder, I am the oil company) and not green pipeline politics that has caused the market to be under supplied that is to blame. I certainly was not greedy when I had to pay $20 a barrel for the market to take it away a few years ago. Where does the idea that I am setting the price now come from, besides Biden's cronies. But maybe I'm wrong. How am I controlling the oil price?

Valuations more attractive after last weeks pull backs.

Joe Mancin to the rescue. Imagine what we'd be dealing with.

Here's what seems to be the biweeky update on oil company profiability. The top left corner company's on the bottom chart have the best metrics.

No one is holding back product to cause prices to rise so I don't know where the "greed" gripe comes from. The oil shortage is a result of no new projects, which take a few years to develop. The most effective way to kill the projects was through the pipeline cancellations. There's no reason to produce more oil when you can't send it anywhere. OPEC is no help because they can't meet their own quotas right now. Rather than admit their mistakes the current governments are futily begging Venezuela and Saudi to increase production, as I'm sure you know. https://www.nrcan.gc.ca/our-natural-resources/energy-sources-distribution/fossil-fuels/crude-oil/oil-pricing/18087

Here's the Cenovus presentation. You'll notice on page 16 that operating expenses for their main in situ projects are under $15 a barrel. Also on page 20 it's mentioned the White Rose offshore project can proceed with prices over $45. https://mc-ced23ebb-4707-4c95-9c94-3171-cdn-endpoint.azureedge.net/-/media/Project/WWW/docs/investors/corporate-presentation.pdf?rev=144e0a18a474414db31905e1c34fe1a9&sc_lang=en&hash=FDD0B547419D6FD687EF360C01D7E7A7

Cenovus break even is under $40. I stated $65 oil is easily achievable in a free market. Athabasca, the least efficient oil sand producer, makes a ton of money at $65. I know this without leaving this page. As for your other Solar wind complaint, you need only actually read my post. It contains the word "may".

Anyway, don't bother arguing with me, I just listen to this guy, who has the highest returning fund on the planet. https://financialpost.com/commodities/energy/oil-gas/opec-exhausting-spare-capacity-confirms-oil-bull-case

Governments aren't to blame for everything but they are to blame for high oil prices. Oil is cheap to produce and there is plenty of it, but governments have discouraged production so it's now expensive, along with everything else we want to buy, because energy costs permeate everything. The taxes and roadblocks were meant to make solar and wind competitive which they may now be. High oil prices are not some surprising result of these policies, they are the point of them. If less CO2 in the atmosphere is needed, this is the chosen cost.

I disagree with this. Our current inflation and conflict situation is totally at the feet of government policy, mostly green new deal politics, secondarily printing money to keep people at home during Covid. Western government pipeline cancellations, carbon taxes, lease busting, high royaltys, and threats to make oil obsolete mean companies can't waste money expanding production as they normally would, so it's been up to Putin to fill the supply role in the interim, and he knew it. We'd have sub $65 oil and low inflation in a free market. Energy costs trump all.

Rourke looks like our best qb ever. Stay healthy kid. Butler looks like Mack Herron. Stay healthy kid. That Teheuma or whatever his name is , also looks like a star pass rusher.

Here's the latest oil and gas company value chart from May 31.

Oh no, definitely not. Suncor's main product is refined down to synthetic purity (easier to refine than wti) before it's shipped south (syncrude) . The break even for that product is under $40 a bbl. Some pretty cheap gasoline can be produced for that price. Syncrude cash operating costs of $32.00 – $35.00 (US $24.65 – $26.95) per barrel is based on the assumptions that: (i) Syncrude will produce 170,000 – 185,000 bbls/d of synthetic crude oil (net to Suncor); and (ii) natural gas used at Syncrude (AECO – C Spot ($CAD)) will be priced at an average of $2.50/GJ over 2021.Nov 30, 2020

Exactly. I believe this Russian thing has expedited the oil crunch by a year, not sure if it's ultimately a positive for Canadian O&G investments or not. Looks like another good day on the US markets. My OVV up another 5%. Interesting, today a Bloomberg article which claims only 29% of people plan on making their next vehicle an EV.

Cenovus is looking awfully strong with the new refining exposure it has with the Husky acquisition. I've got some of that too. I've been riding Arc up mostly because of the long term "safety" the higher nat gas percentage may bring, as gas may be used for electrical generation. I believe I will shift mainly into OVV on the strength of that Nuttall chart I provided. That's a ridiculous value. But you're right, the risk is our governments wanting to kill off our boom in favor of Putin, Maduro , MBS and the rest.

The bear market is not in all sectors (yet). If oil stays at $100 next year, check out these returns. Free cash flow is money available to return to shareholders after all costs to maintain steady production are met. OVV is Ovintiv which is the gas portion of the former Encana, although it has evolved into 50% oil. The chart shows OVV could pay 50% back to shareholders next year, or buy back all it's shares and debt in less than two with cash flow. Strip pricing for natural gas is assumed (about $5.50). So the point is...if you think oil stays around $100 bucks, there should a ton of money to be made in energy stocks, it's not too late.

Oh for god's sake, I read it initially as I WAS dreaming. Not off to a good start!

Thanks . I didn't get to see a replay but the live version had me thinking that it would have been called by today's standards. I thought the Flame that hit him high was intent on getting him from the get go and took some steps, but ....it is what it is. haha

I turned on the game just in time to see Pod make a determined rush into the Flames zone, just to get hammered into the end boards, which should have been a charging/targetting/boarding call, quickly followed by a cheap $#% trip call on us as the flames were bringing the puck out, and the flames 4th goal. Anybody here as pissed on the Pod hit as I was, or was I dreaming?