Invest in rail. Tanker cars are being cranked out at a record pace.
The Oil Industry Is About To Become Worthless
- Thread starter mentalfloss
- Start date
The same oil companies that are leaders in green energy are a bad investment?
If the stock market was easy to predict then we'd all be rich. What's going on now is that larger operators who are not over-leveraged are scooping up those who are feeling the pinch, hoping that larger scale production will offset the lower prices. Green energy and alternate products may provide some relief, but if there's enough potential for return to justify re-tooling will be a business decision for the companies themselves. As far as the oilsands goes in their current configuration, they have probably seen their peak.
I don't know a whole lot about stock picking, I like to look for potential in market sectors and geographical locations and then look for a mutual fund that gives me the coverage I want. Leave the picking of individual stocks to people with the experience and education to do a good job of it. What I have noticed is that in Canadian Equity funds, companies like Suncor and CNRL that were once widely held are no longer appearing on "major holdings" lists. I find watching where the money is going to be a more dependable bellweather than most other sources.
I don't know a whole lot about stock picking, I like to look for potential in market sectors and geographical locations and then look for a mutual fund that gives me the coverage I want. Leave the picking of individual stocks to people with the experience and education to do a good job of it. What I have noticed is that in Canadian Equity funds, companies like Suncor and CNRL that were once widely held are no longer appearing on "major holdings" lists. I find watching where the money is going to be a more dependable bellweather than most other sources.
Last edited:
You can thank government and it’s regulators for that .
Here's a scoop for ya. There will be massive investments made over the next 5 years into carbon capture and EOR lowering emissions to the point of being equal to or lower than conventional oil wells.
It's going to take taxpayer involvement to pull off but our products will be super duper attractive to markets.
Big Oil created " the climate crisis" for this exact reason.
It's going to take taxpayer involvement to pull off but our products will be super duper attractive to markets.
Big Oil created " the climate crisis" for this exact reason.
You don't have to pay attention but it helps.
"Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced today the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada’s oil sands production," reads the press release. "The goal of this unique alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations."
The plan is to gather up all the carbon dioxide from their operations and pipe them all to "a carbon sequestration hub" where it will be put into a Carbon Capture Utilization and Storage system (CCUS). There are also plans to play with "clean hydrogen, process improvements, energy efficiency, fuel switching and electrification."
Hydrogen eh? Where and when have I heard that before?
Call me cynical, but there could be a significant degree of window dressing going on here to try and re-attract investment that has fallen off.
Apparently there is a major company that is investing in Alberta by building a large hydrogen project as well as carbon sequestration projects that are on-line here too. Good news for Alberta, that's for sure! Don't know what the time-frame is, but I'm hopeful that it will create 'a few' jobs anyway.
Investment hasn't fallen off. Rather it has moved to countries without oppressive and unrealistic policies.
It's been in the works for almost 20 years and it's home grown tech out of The Petroleum Technology Research Center at the U of R.
Green pink slips....
A major wind blade manufacturing plant is closing its doors in Aberdeen, South Dakota despite Special Presidential Envoy for Climate John Kerry claiming there would be plentiful jobs in the solar and wind turbine industries.
Kerry made those claims just months ago as the Keystone Pipeline was nixed by President Joe Biden and many jobs were lost in the coal and hydraulic fracturing markets.
The Molded Fiber Glass company will shut its doors permanently in less than two months and roughly 300 jobs will be lost. The plant, open since 2007, produces wind turbine blades. It will remain in operation until August 6, fulfilling existing orders here in the United States
One family member of a worker stated that they found out about the closure last Monday. They were shocked and confused when the word came down of their impending unemployment.
“They should be swimming in orders right now,” the woman said, according to the Washington Examiner.
Employees will be privately informed when their last day will be at the plant.
This is not the first time a shutdown has been threatened at the company. In 2017, MFG was prepared to cut 400 jobs at the plant and shut down due to “proposed revisions to tax policies.” Republican Sen. John Thune came to the rescue by revising the 2017 tax bill, making it more palatable to the industry at the time. He also stated in an email that, in a market that is receiving record investments, it is troubling that the growth was not turning into American jobs. He criticized Biden for allowing Beijing to corner the market in the industry.
Thune is stepping up once again to fight the Biden administration on China’s control of the market. He introduced an amendment last month to the Democrats’ expansive energy tax credit bill that would ensure American manufacturers aren’t undercut by Chinese suppliers who use low-cost labor while spewing out tons of pollution they aren’t held accountable for. Those were, in fact, in line with the reasons given by MFG for closing down their plant.
The company released a statement on the closure and blamed changing market conditions, proposed tax policy revision, and foreign competition for its downfall.
According to Bloomberg New Energy Finance, seven out of the top ten wind turbine manufacturers are Chinese companies. While General Electric in the U.S. is number one, it is closely followed by Goldwind of China. A study done by Bloomberg shows that over half of the globe’s newly installed wind power capacity was manufactured in China in 2020.
Gordon Tomb, who is a Sr. Fellow at the Commonwealth Foundation, tweeted: “If furloughed coal miners are to build wind turbines what do laid off wind energy workers do? #BidenEconomy.”
Tim Burchett, a congressman from Tennessee, had this to say: “The new regulations unfortunately seem to favor China and the Communist Chinese Party. #CCP.”
TheTimesRaChanging on Twitter also commented: “Here ya go John Kerry! More programmers hitting the job market thanks to Sleepy Joe.”
Just a day following MFG’s announcement, TC Energy in Canada announced it is terminating the Keystone Pipeline project as well.
Both of these energy issues that have been killed due to Kerry and Biden’s posturing on energy have hit South Dakota hard economically.
“We are a smallish community of 28,000 people, so 300 jobs is a big deal,” said another family member of a worker. “Granted, two facilities in town, 3M and Banner Engineering have recently doubled capacity, so most of the hourly employees should be absorbed by that,” she noted. “However, some of these people have been with the company since 2008. How do you start over after 13 years?”
“It’s disappointing to lose any employer in town, especially such a large one, but we will get through it,” Aberdeen Mayor Travis Schaunaman vowed in a statement.
Gov. Kristi Noem also issued a statement: “I am deeply saddened by the news of MFG’s closure today. We will immediately send a rapid response team to stand by those individuals and families impacted and help them find new opportunities to pursue a fulfilling job or new career path.”
As more manufacturing jobs and plants leave the U.S. for China and other “cheaper” foreign pastures, many in South Dakota and across the nation are saddened to see American workers lose their livelihoods, not due to shortages or catastrophes, but allegedly due to political progressive grandstanding.
Climate czar John Kerry wrong again: SD wind turbine plant to shut doors, 300 jobs lost
June 14, 2021 | Terresa Monroe-HamiltonA major wind blade manufacturing plant is closing its doors in Aberdeen, South Dakota despite Special Presidential Envoy for Climate John Kerry claiming there would be plentiful jobs in the solar and wind turbine industries.
Kerry made those claims just months ago as the Keystone Pipeline was nixed by President Joe Biden and many jobs were lost in the coal and hydraulic fracturing markets.
The Molded Fiber Glass company will shut its doors permanently in less than two months and roughly 300 jobs will be lost. The plant, open since 2007, produces wind turbine blades. It will remain in operation until August 6, fulfilling existing orders here in the United States
One family member of a worker stated that they found out about the closure last Monday. They were shocked and confused when the word came down of their impending unemployment.
“They should be swimming in orders right now,” the woman said, according to the Washington Examiner.
Employees will be privately informed when their last day will be at the plant.
This is not the first time a shutdown has been threatened at the company. In 2017, MFG was prepared to cut 400 jobs at the plant and shut down due to “proposed revisions to tax policies.” Republican Sen. John Thune came to the rescue by revising the 2017 tax bill, making it more palatable to the industry at the time. He also stated in an email that, in a market that is receiving record investments, it is troubling that the growth was not turning into American jobs. He criticized Biden for allowing Beijing to corner the market in the industry.
Thune is stepping up once again to fight the Biden administration on China’s control of the market. He introduced an amendment last month to the Democrats’ expansive energy tax credit bill that would ensure American manufacturers aren’t undercut by Chinese suppliers who use low-cost labor while spewing out tons of pollution they aren’t held accountable for. Those were, in fact, in line with the reasons given by MFG for closing down their plant.
The company released a statement on the closure and blamed changing market conditions, proposed tax policy revision, and foreign competition for its downfall.
According to Bloomberg New Energy Finance, seven out of the top ten wind turbine manufacturers are Chinese companies. While General Electric in the U.S. is number one, it is closely followed by Goldwind of China. A study done by Bloomberg shows that over half of the globe’s newly installed wind power capacity was manufactured in China in 2020.
Gordon Tomb, who is a Sr. Fellow at the Commonwealth Foundation, tweeted: “If furloughed coal miners are to build wind turbines what do laid off wind energy workers do? #BidenEconomy.”
Tim Burchett, a congressman from Tennessee, had this to say: “The new regulations unfortunately seem to favor China and the Communist Chinese Party. #CCP.”
TheTimesRaChanging on Twitter also commented: “Here ya go John Kerry! More programmers hitting the job market thanks to Sleepy Joe.”
Just a day following MFG’s announcement, TC Energy in Canada announced it is terminating the Keystone Pipeline project as well.
Both of these energy issues that have been killed due to Kerry and Biden’s posturing on energy have hit South Dakota hard economically.
“We are a smallish community of 28,000 people, so 300 jobs is a big deal,” said another family member of a worker. “Granted, two facilities in town, 3M and Banner Engineering have recently doubled capacity, so most of the hourly employees should be absorbed by that,” she noted. “However, some of these people have been with the company since 2008. How do you start over after 13 years?”
“It’s disappointing to lose any employer in town, especially such a large one, but we will get through it,” Aberdeen Mayor Travis Schaunaman vowed in a statement.
Gov. Kristi Noem also issued a statement: “I am deeply saddened by the news of MFG’s closure today. We will immediately send a rapid response team to stand by those individuals and families impacted and help them find new opportunities to pursue a fulfilling job or new career path.”
As more manufacturing jobs and plants leave the U.S. for China and other “cheaper” foreign pastures, many in South Dakota and across the nation are saddened to see American workers lose their livelihoods, not due to shortages or catastrophes, but allegedly due to political progressive grandstanding.
In direct contradiction of the "build back better" plan isn't it?
Biden Pause on Oil Leases on Public Lands Blocked by Judge
A federal judge lifted the Biden's administration temporary ban on new oil and gas leases on public lands and offshore waters.
In a victory for 13 red states that filed the legal challenge in Louisiana, U.S. District Judge Terry Doughty granted a preliminary injunction Tuesday blocking President Joe Biden's Jan. 27 executive order while the litigation continues.
Biden's order called for a 60-day pause during which the Interior Department would conduct a "comprehensive review" of its leasing program. The president said the agency should consider its "broad stewardship responsibilities," including the impact of global warming.
Oil industry advocates cheered the ruling after warning any long-term halt in leasing jeopardizes jobs and domestic energy production. Environmental groups countered the judge's order fails to account for the damage done by climate pollution.....More
Maine bans wind power projects in state waters
Maine Gov. Janet Mills signed a permanent ban on the development of offshore wind in waters managed by the state.Mills last week signed compromise legislation – which emerged from House and Senate negotiations – that imposes a moratorium on new wind power projects in state waters.
In a statement, Mills said the state is "uniquely prepared to grow a strong offshore wind industry, create good-paying trades and technology jobs around the state, and reduce Maine’s crippling dependence on harmful fossil fuels" but not at the expense of the state's storied fishing industry.
"This legislation cements in law our belief that these efforts should occur in Federal waters farther off our coast through a research array that can help us establish the best way for Maine to embrace the vast economic and environmental benefits of offshore wind," she said in a statement.
But the move is also aimed at alleviating the concerns of commercial fishermen as Maine pursues the nation’s first offshore wind research array in federal waters.
Nearly 75% of Maine’s commercial lobster harvesting occurs in state waters.