Oil is Dead

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
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May and Blanchet declare the oilpatch 'dead,' warn Ottawa against financial supports

Canada's oil and gas sector is on the ropes as COVID-19 crushes demand and a global price war pushes domestic companies to the brink of bankruptcy — but two opposition leaders say Ottawa should simply let part of the industry wither and die.

https://www.cbc.ca/news/politics/oil-is-dead-green-bloc-parties-1.5557725
 

Avro52

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Jinentonix

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May and Blanchet declare the oilpatch 'dead,' warn Ottawa against financial supports

Canada's oil and gas sector is on the ropes as COVID-19 crushes demand and a global price war pushes domestic companies to the brink of bankruptcy — but two opposition leaders say Ottawa should simply let part of the industry wither and die.

https://www.cbc.ca/news/politics/oil-is-dead-green-bloc-parties-1.5557725
Until Blanchet shuts down Quebec's refineries, he needs to keep his big f*cking hypocritical mouth shut about Alberta's oil.
 

taxslave

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Nov 25, 2008
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Until Blanchet shuts down Quebec's refineries, he needs to keep his big f*cking hypocritical mouth shut about Alberta's oil.
As long as they buy from third world dictators it won't be a problem. Only Canadian oil pollutes ya know.
Probably why ellimay was sent to Canada. Cut competition for her oil Barron friend in the US.
 

petros

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Nov 21, 2008
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As long as they buy from third world dictators it won't be a problem. Only Canadian oil pollutes ya know.
Probably why ellimay was sent to Canada. Cut competition for her oil Barron friend in the US.
Truth about Ellie, even if elected she cant be PM. Bipolar.
 

mentalfloss

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It's pretty telling when National Post starts going against the script.

Time to invest in Hibernia lol


Elizabeth May responds to John Ivison: The oilsands are not worth investing in

For example, the contribution fossil fuels makes to Canada’s gross domestic product is nowhere near what is routinely claimed. Ivison writes that the oil and gas industry is “responsible for 10 per cent of GDP; employs more than half a million people; and, contributes around $8 billion in tax revenues.” According to Natural Resources Canada, however, the oil and gas sectors combined make up 5.6 per cent of GDP.

The problem with bitumen is that it is both very expensive to produce and of inherently low value. It must go through a further, very expensive, process of upgrading before it is able to be refined. In contrast, the break-even price for Alberta sweet crude (existing production) is in the order of US$25-$30 per barrel. And it is important to note that Hibernia is producing crude that is far more attractive to investors than bitumen, with a far more achievable break-even point.

https://nationalpost.com/opinion/el...n-the-oilsands-are-not-worth-investing-in/amp
 

Hoid

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Oct 15, 2017
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All the faux shock over May saying exactly what everyone else is thinking.