Today’s comments were selected from Call for crude production quotas splits oil patch (for subscribers) by Sean McCarthy and Justin Giovannetti and May scrambles to contain deepening Brexit crisis amid resignations, calls for her ouster by Paul Waldie.
A vertical pumpjack works producing crude oil on an oilfield well, belonging to Crescent Point Energy, near Longview, Alberta on Thursday, Dec. 7, 2017. In the background are the Rocky Mountains. THE CANADIAN PRESS IMAGES/Larry MacDougalLarry MacDougal/The Canadian Press
It is a shame that Canada has become one of the most politically unsafe countries to be in the energy business.Why did our energy industry become the whipping boy of the Liberal government?Could it be the opportunity to create the Carbon Tax? More money for a revenue starved government?Judging from the treatment the energy industry is receiving in Canada it is no wonder many of the Global energy companies and investors are fleeing Canada to more welcoming jurisdictions. They are just going else where to provide the oil and gas world needs.Not sure how Canada is benefiting from this exodus. I am certain however Trumps America loves it, as do the Saudi’s. They are laughing all the way to the bank! - gordon2j7
In response to gordon2j7:
The downturn in oil industry was created by the fact that for most production in Alberta, it costs more to produce oil than the market is willing to pay for it. The current low crude prices are due to the fact that the global demand for crude is currently lower than the global supply. Both have absolutely nothing to do with anything any government in Canada has done. This article seems to suggest that additional pipelines and export infrastructure might correct this. In fact, pipelines would actually increase the supply further above demand, only adding to the trend for prices to decline. - Sunshine Coaster
In response to Sunshine Coaster:
Canada is losing $100 million a day because we have one customer and limited access to tidewater. That’s why the the differential is $40/barrel, it is directly related to market access. The oil price isn’t the issue - the spread is, we are giving US businesses billions in subsidies every year instead of keeping the revenue in Canada. - ChuckT
Pulling federal permits for Saudi oil imports would be a good place to start, and increasing oil shipments by rail to Quebec to replace the imported Saudi oil. - ap_65297517
The market is not working. If the market was working several more pipelines would be operating. - BC Thoughts
What else readers are talking about:
May scrambles to contain deepening Brexit crisis amid resignations, calls for her ouster by Paul Waldie
May has done all anyone can do. She has taken the best team of negotiators and asked for as much as possible. Brussels has been equally belligerent in return. The EU does not want to make leaving easy and economically attractive and Britain wants to have its cake and eat it too. Corbyn or any other MP, Conservative or Labour could not engender a better result.Instead of bloody mindedness, now May should really lead and demand that there be another referendum. Britain is better off to stay in the EU from an economic position, but if a majority of populists want out, they should know that this is about as a good a deal as can be done with Brussels. - GIP Main
May knew her Chequers plan would not make it through parliament, she had to know this latest deal she came back with was also toxic. She is and has refused to listen to her ministers. She needs to either step down or announce the UK will leave the EU next March and trade will continue under WTO rules. This will allow already underway planning at British ports to continue and also give the EU time to make similar plans at its ports notably Calais. - Cumbrian
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