flanny Posted June 15, 2022 Share Posted June 15, 2022 30 minutes ago, bigbadcanucks said: You're trying to sound like you know what you're talking about, but your ignorance is grossly evident. The only "cheap" oil is in the middle east and Nigeria. All other oil fields in the world either require some form of in-situ stimulation (whether its fracking, SAGD, horizontal drilling, well floods, well fires, etc.) which is costly and off shore drilling, which is even more costly. You might want to take some time and read the financials of Canadian producers who are "mining" the giant reserves of oil trapped in sands. If you think North American governments are trying to limit oil production, you should take a trip to northern Alberta, northern Saskatchewan, Williston basin in the Dakotas and Texas. There's no shortage of oil fields in full production. "The taxes and roadblocks were meant to make solar and wind competitive which they may now be." - you might look into what it costs to generate 1 kwh of power from solar and/or wind. Obviously you have no clue of the economics of renewable energy generated by solar and wind farms. The only thing making these sources viable is government subsidies, which us tax payers are paying for. You might want to educate yourself before you form an opinion let alone lay it out there for the public to see. 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 1 Link to comment Share on other sites More sharing options...
flanny Posted June 15, 2022 Share Posted June 15, 2022 2 hours ago, Warhippy said: The price of fuel almost doubled in less than 120 days. That's greed. Don't blame the government. It went from $1.16.9 to $2.24.9 in 124 days. Taxes went up 11 cents 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 1 Link to comment Share on other sites More sharing options...
Boudrias Posted June 15, 2022 Share Posted June 15, 2022 9 hours ago, Warhippy said: The price of fuel almost doubled in less than 120 days. That's greed. Don't blame the government. It went from $1.16.9 to $2.24.9 in 124 days. Taxes went up 11 cents I think you are over simplifying the problem. Link to comment Share on other sites More sharing options...
Boudrias Posted June 15, 2022 Share Posted June 15, 2022 7 hours ago, flanny said: 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 Also factor in how the major capital sources globally abandoned industry financing. Environmental concerns about hydro carbon use is laudable but what real work did the politicians do for planning a transition? Pipeline cancellations made no sense. Now we have how many barrels per day of crude being transported by rail? More expensive and far less environmentally friendly. Who is taking responsibility for this? Blaming industry for greed is a singular blame game that is easy deflection by those who are responsible for much of this. The oil industry has been in kaos since 2014. 8 years of underinvestment. No outcry when crude was at $30 WTI or even negative for a short while. All of this screamed for a clear path for transition to renewables and how the sunset hydrocarbon industry would continue to pay for itself. The numbers the politicians put out were based on BS and wishful thinking. Measure and adjust simply didn't happen. Isn't happening to this day. Link to comment Share on other sites More sharing options...
flanny Posted June 15, 2022 Share Posted June 15, 2022 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. 1 Link to comment Share on other sites More sharing options...
I.Am.Ironman Posted June 19, 2022 Share Posted June 19, 2022 Interesting week coming up for Bitcoin. It has never closed below the previous cycle peak; yesterday it went briefly below before recovering today. The 2018 peak is around 19800USD/BTC and the price is currently hovering around 20500USD/BTC. Link to comment Share on other sites More sharing options...
Boudrias Posted June 19, 2022 Share Posted June 19, 2022 2 hours ago, I.Am.Ironman said: Interesting week coming up for Bitcoin. It has never closed below the previous cycle peak; yesterday it went briefly below before recovering today. The 2018 peak is around 19800USD/BTC and the price is currently hovering around 20500USD/BTC. 2 hours ago, I.Am.Ironman said: Interesting week coming up for Bitcoin. It has never closed below the previous cycle peak; yesterday it went briefly below before recovering today. The 2018 peak is around 19800USD/BTC and the price is currently hovering around 20500USD/BTC. I'm not worried about Bitcoin, was never interested in it. I thought Bill Gates take that it was nothing. Nope, I'll focus on earnings and dividends and be happy. Link to comment Share on other sites More sharing options...
ronthecivil Posted June 20, 2022 Share Posted June 20, 2022 On 6/14/2022 at 10:07 PM, bigbadcanucks said: You're trying to sound like you know what you're talking about, but your ignorance is grossly evident. The only "cheap" oil is in the middle east and Nigeria. All other oil fields in the world either require some form of in-situ stimulation (whether its fracking, SAGD, horizontal drilling, well floods, well fires, etc.) which is costly and off shore drilling, which is even more costly. You might want to take some time and read the financials of Canadian producers who are "mining" the giant reserves of oil trapped in sands. If you think North American governments are trying to limit oil production, you should take a trip to northern Alberta, northern Saskatchewan, Williston basin in the Dakotas and Texas. There's no shortage of oil fields in full production. "The taxes and roadblocks were meant to make solar and wind competitive which they may now be." - you might look into what it costs to generate 1 kwh of power from solar and/or wind. Obviously you have no clue of the economics of renewable energy generated by solar and wind farms. The only thing making these sources viable is government subsidies, which us tax payers are paying for. You might want to educate yourself before you form an opinion let alone lay it out there for the public to see. About five years ago when I had very good sources on the cost wind needs like 27 cents/ khW and solar is closer to 50 cents. Wind towers kill about 200 birds per year per tower and the best solar locations tend to be prime farmland as well. So the costs are fairly high and the impacts are not zero. Link to comment Share on other sites More sharing options...
ronthecivil Posted June 20, 2022 Share Posted June 20, 2022 On 6/15/2022 at 6:48 AM, Boudrias said: Also factor in how the major capital sources globally abandoned industry financing. Environmental concerns about hydro carbon use is laudable but what real work did the politicians do for planning a transition? Pipeline cancellations made no sense. Now we have how many barrels per day of crude being transported by rail? More expensive and far less environmentally friendly. Who is taking responsibility for this? Blaming industry for greed is a singular blame game that is easy deflection by those who are responsible for much of this. The oil industry has been in kaos since 2014. 8 years of underinvestment. No outcry when crude was at $30 WTI or even negative for a short while. All of this screamed for a clear path for transition to renewables and how the sunset hydrocarbon industry would continue to pay for itself. The numbers the politicians put out were based on BS and wishful thinking. Measure and adjust simply didn't happen. Isn't happening to this day. Let's see how green everyone is when gas hits four bucks a litre and something like ten bucks a gallon down south. 1 Link to comment Share on other sites More sharing options...
I.Am.Ironman Posted June 20, 2022 Share Posted June 20, 2022 @Boudrias It is a barometer for risk appetite and is a portion of many retail and institutional holders. Exxon has started mining it, Canadian pension funds hold it, it gets airtime on CNBC/BNN etc, there are publicly traded crypto companies and it is even part of the Conservative Party's platform (well Pierre Pollievre's). Currently it is hovering around a crucial technical support level. Just because you aren't invested in BTC doesn't mean that it is irrelevant. Link to comment Share on other sites More sharing options...
bishopshodan Posted June 20, 2022 Share Posted June 20, 2022 (edited) 22 minutes ago, ronthecivil said: Wind towers kill about 200 birds per year per tower I just quickly looked that up and the google machine said up to 26.9 per turbine. You should look up how many birds are killed by domestic house cats. NM, I'll do it for you..."House cats (Felis catus) are estimated to kill large numbers of birds in countries and regions where this source of bird mortality has been studied, for example 1-4 billion birds killed per year in the United States" . ...avg of 2.4 billion https://abcbirds.org/program/cats-indoors/cats-and-birds/ And those little dirty felines don't give us any energy. Edited June 20, 2022 by bishopshodan 1 Link to comment Share on other sites More sharing options...
NewbieCanuckFan Posted June 20, 2022 Share Posted June 20, 2022 1 hour ago, Boudrias said: I'm not worried about Bitcoin, was never interested in it. I thought Bill Gates take that it was nothing. Nope, I'll focus on earnings and dividends and be happy. Coach potato strategy. Boring & not flashy but (imho) it's what should focus on (and no I ain't no financial advisor & certainly not qualified to give such advice ) Link to comment Share on other sites More sharing options...
Gurn Posted June 20, 2022 Share Posted June 20, 2022 What ever Warren Buffett is doing, is likely a good thing to do. Link to comment Share on other sites More sharing options...
ronthecivil Posted June 20, 2022 Share Posted June 20, 2022 1 hour ago, bishopshodan said: I just quickly looked that up and the google machine said up to 26.9 per turbine. You should look up how many birds are killed by domestic house cats. NM, I'll do it for you..."House cats (Felis catus) are estimated to kill large numbers of birds in countries and regions where this source of bird mortality has been studied, for example 1-4 billion birds killed per year in the United States" . ...avg of 2.4 billion https://abcbirds.org/program/cats-indoors/cats-and-birds/ And those little dirty felines don't give us any energy. Lolz I was simply pointing out that green technologies for generating energy still have some negative environmental impacts. I have considered getting a cat to murder the birds/squirrels/etc that like to go after my garden. Though makes you wonder even in a high cost environment how much electrical generation do we need to install even just in North America to get rid of all coal/natural gas fossil fuel generating electrical infrastructure in place as well as conversion of the vehicle fleet to eclectic. Link to comment Share on other sites More sharing options...
ronthecivil Posted June 20, 2022 Share Posted June 20, 2022 1 hour ago, gurn said: What ever Warren Buffett is doing, is likely a good thing to do. Well you can just buy shares in Berkshire Hatheway if you want to do that. Or you can listen to his advice for amateurs. Just pile all your money into an etf of the S and P five hundred. Or do something like a couch potato strat. I personally for tax reasons would just recommend doing the TSX in your TFSA, the S and P in the RRSP, and when to buy is when you got the money, and what to buy is the one that currently has less money in it. 1 Link to comment Share on other sites More sharing options...
I.Am.Ironman Posted June 20, 2022 Share Posted June 20, 2022 3 hours ago, NewbieCanuckFan said: Coach potato strategy. Boring & not flashy but (imho) it's what should focus on (and no I ain't no financial advisor & certainly not qualified to give such advice ) Is this from the website Canadian Couch Potato? It's a great resource. 3 hours ago, gurn said: What ever Warren Buffett is doing, is likely a good thing to do. Then investing large amounts in banks and oil is your answer. Link to comment Share on other sites More sharing options...
bishopshodan Posted June 20, 2022 Share Posted June 20, 2022 9 hours ago, ronthecivil said: Lolz I was simply pointing out that green technologies for generating energy still have some negative environmental impacts. I have considered getting a cat to murder the birds/squirrels/etc that like to go after my garden. Oh, so you want birds dead just not via wind turbines? Bright city lights are bad too...hell for migratory routes. We're a real problem for our feathered friends. https://eos.org/articles/bright-lights-big-cities-attract-migratory-birds Link to comment Share on other sites More sharing options...
flanny Posted June 20, 2022 Share Posted June 20, 2022 Valuations more attractive after last weeks pull backs. Link to comment Share on other sites More sharing options...
ronthecivil Posted June 20, 2022 Share Posted June 20, 2022 4 hours ago, bishopshodan said: Oh, so you want birds dead just not via wind turbines? Bright city lights are bad too...hell for migratory routes. We're a real problem for our feathered friends. https://eos.org/articles/bright-lights-big-cities-attract-migratory-birds I want smart critters that know better than to venture into my area! I want to make money. I am fairly agnostic on the rest. Link to comment Share on other sites More sharing options...
bishopshodan Posted June 20, 2022 Share Posted June 20, 2022 6 hours ago, ronthecivil said: I want smart critters that know better than to venture into my area! I want to make money. I am fairly agnostic on the rest. Crows are as intelligent as a 7 year old child and are in pretty good company on this list. https://www.thoughtco.com/most-intelligent-animals-4157712 But I hear ya about venturing into your area. I'm thinking about trapping my neighbours cat and taking it to the SPCA if I find anymore feathers on my lawn. 1 1 Link to comment Share on other sites More sharing options...
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