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Thursday, February 06, 2014


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Wrong Canadian cliche. We club baby seals not beavers.
Beavers are just a damn nuisance.

John Chittick

"Some of us are just plain old fashioned Left-wing jerks." - RA's transference of PET?

The economic irony is that Canada would see greater returns to the Oil Patch, Provincial and Federal coffers with a Western pipeline or even an Eastern one. Heavy oil going to the Gulf or mid Western refineries is discounted significantly over Brent pricing available at Canadian tidewater.

The Keystone XL route is blocked by Obama and encouraged no doubt by his crony pal, Warren Buffet with his rail cars now carrying oil sands crude while the US eco-foundations underwriting their poorer green Canadian cousins and their new-found friends of the Canadian apartheid persuasion are fighting the most lucrative route.

As usual, the greens opposed to both routes are encouraging the least environmentally sensitive option - the status quo.

Fred Hansford

These days, the only thing more dangerous than being an enemy of the U.S. is being an ally.


Or we could refine it here for Canadian use. Just a thought.

Jim Whyte

Much to digest here.

I sometimes wonder if the affection for Zerobama in this country is one of those agreed-upon lies, the kind that Vaclav Havel used to say held Communism together. If you don't like him, you don't want anyone else to know. (PS, I don't like him. Nick Packwood put it best: "this is not a presidency, it is a cruel joke." Don't let that get around....)

The economic benefit of Keystone vs. Northern Gateway and the eastern pipeline might be in the margin -- prices at tidewater marked to Brent would definitely be higher, but if Keystone is less costly for the producers, then it might be better economics even at a price marked to WTI.

Mike G81: I used to think the same thing. The Macdonald-Laurier Institute did a useful study on "where the value is" in the Canadian oil industry; their conclusion was that most of the profit is happening upstream, and that refining only adds a little value. If the crude price fell, that analysis might change and make refining a better deal, but for now it's probably not worth the capital cost.

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