This Is Idiotic Even By Their Standards

[Anonymous]

Normally, the everyday stupidity that is the other forum gets filed in it's proper thread. However, every now and then a "gem" comes along that is so unbelievably stupid that is warrants it's own "special" thread.

Sorry OPEC-oil will likely test $50 in 2015



Unread postby Ugene » Yesterday, 20:31



https://ca.finance.yahoo.com/news/sorry-opec-oil-likely-test-155343822.html">https://ca.finance.yahoo.com/news/sorry ... 43822.html">https://ca.finance.yahoo.com/news/sorry-opec-oil-likely-test-155343822.html





Tar Sand oil won't be worth taking out of the ground...after all it's not exactly #1 Crude is it?



http://www.theglobeandmail.com/report-on-business/top-business-stories/should-canada-fear-a-catastrophic-fall-in-oil-prices-russia-does/article21587808/">http://www.theglobeandmail.com/report-o ... e21587808/">http://www.theglobeandmail.com/report-on-business/top-business-stories/should-canada-fear-a-catastrophic-fall-in-oil-prices-russia-does/article21587808/





What a colossal mistake, we fckin up the North with that boondoggle...and Alberta is already deep in debt.

https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcR9ZW225G1gGB3POQAE4182kzJxMvqnZBCho2AOYxcRyS-HMBLR">

[Obvious Li]

Normally, the everyday stupidity that is the other forum gets filed in it's proper thread. However, every now and then a "gem" comes along that is so unbelievably stupid that is warrants it's own "special" thread.

Sorry OPEC-oil will likely test $50 in 2015



Unread postby Ugene » Yesterday, 20:31



https://ca.finance.yahoo.com/news/sorry-opec-oil-likely-test-155343822.html">https://ca.finance.yahoo.com/news/sorry ... 43822.html">https://ca.finance.yahoo.com/news/sorry-opec-oil-likely-test-155343822.html





Tar Sand oil won't be worth taking out of the ground...after all it's not exactly #1 Crude is it?



http://www.theglobeandmail.com/report-on-business/top-business-stories/should-canada-fear-a-catastrophic-fall-in-oil-prices-russia-does/article21587808/">http://www.theglobeandmail.com/report-o ... e21587808/">http://www.theglobeandmail.com/report-on-business/top-business-stories/should-canada-fear-a-catastrophic-fall-in-oil-prices-russia-does/article21587808/





What a colossal mistake, we fckin up the North with that boondoggle...and Alberta is already deep in debt.

https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcR9ZW225G1gGB3POQAE4182kzJxMvqnZBCho2AOYxcRyS-HMBLR">

lol...don't you know it......same guys can't understand why if oil is $75 per barrel why isn't the price of gas 60 cents a liter......fucking goof



man i wish the govt. would get some balls and punish these stupid motherfuckers.... ac_beating

[Anonymous]

^He wants Alberta heavy oil left in the ground, but what does that do to world price if you reduce production? He can't wrap his pea-sized brain around economics 101.



Does anyone find it ironic that the people who want a bloated civil service to tuck them in at night are the same ones who want to shutter the industries that pay for it?



OPEC should pay Western morons like it a salary.

[Gary Oak]

EU is a pansy that moves boxes for a living. He does not know anything about business and industry. PU hates Canada and loves Muslim slime.

Why Canadian oil producers will buck the descent in prices

http://business.financialpost.com/2014/10/01/why-canadian-oil-producers-will-buck-the-descent-in-prices/">http://business.financialpost.com/2014/ ... in-prices/">http://business.financialpost.com/2014/10/01/why-canadian-oil-producers-will-buck-the-descent-in-prices/

[Gary Oak]

PU will be disappointed to know that Alberta has the lowest debt of any Canadian province. This is what the boxmoving moron calls a boondoggle. ac_drinks  ac_toofunny  ac_drinks

http://www.montrealgazette.com/10128588.bin">

[Anonymous]

EU is a pansy that moves boxes for a living. He does not know anything about business and industry. PU hates Canada and loves Muslim slime.

Why Canadian oil producers will buck the descent in prices

http://business.financialpost.com/2014/10/01/why-canadian-oil-producers-will-buck-the-descent-in-prices/">http://business.financialpost.com/2014/ ... in-prices/">http://business.financialpost.com/2014/10/01/why-canadian-oil-producers-will-buck-the-descent-in-prices/

Gary, his handle is EU and he is partially right about what he is saying..



My husband is an electrician and a field superintendent for an oilfield service company that supplies the electrical systems for drilling rig top drives..



They don't  have Fort McMurray customers, but they have customers in South East Alberta, Saskatchewan, North Dakota,  along the foothills of Alberta, North East BC, Newfoundland and on every continent as well..



They are already feeling international sales especially drop..



They have frozen hiring and will probably lay off electrical apprentices if declining sales continue much longer..



My husband will not be laid off, but he will not get a raise or receive a bonus it this continues much longer..



He was supposed to go to Norway 10 days ago, but their customer there cancelled the sale because of declining prices for oil in that country..



My husband says the Fort McMurray bitumen will be able to last out the price decline because they are on longer term contracts, but conventional oil like my husband's company does, relies on short term capital spending and it is being slashed right now..



This will have an affect on my job too if low revenues remain for a while..



Provincial civil servant wages and hiring will be frozen too..



We are moving towards some difficult times, but we have been there before..



I hope other people are able to cope with this downturn as well as we will and have in the past.

[Anonymous]

^He's a harmless lightweight with some bizarre dislike of Alberta.

[@realAzhyaAryola]

Alberta is da bomb! ac_biggrin

[Anonymous]

Alberta is da bomb! ac_biggrin

I like it, but some nitwits who don't know much about us do not.



I forgot to ask, were you only in the Southern part of the province or did you get to see more Northern areas?

[@realAzhyaAryola]

I hope to see the northern areas some day, Shen.  ac_cool

[Anonymous]

I hope to see the northern areas some day, Shen.  ac_cool

The Southern third is interesting, the middle third is a little bland and the Northern third is very different than the other two.

[Anonymous]

Alberta is da bomb! ac_biggrin

We can be at times Azhya Aryola..



It is cold and snowy in the winter, but that is most of Canada anyway..



We are blessed with many job opportunities which I think RDL should explore.

[reel]

EU is a pansy that moves boxes for a living. He does not know anything about business and industry. PU hates Canada and loves Muslim slime.

Why Canadian oil producers will buck the descent in prices

http://business.financialpost.com/2014/10/01/why-canadian-oil-producers-will-buck-the-descent-in-prices/">http://business.financialpost.com/2014/ ... in-prices/">http://business.financialpost.com/2014/10/01/why-canadian-oil-producers-will-buck-the-descent-in-prices/

Gary, his handle is EU and he is partially right about what he is saying..



My husband is an electrician and a field superintendent for an oilfield service company that supplies the electrical systems for drilling rig top drives..



They don't  have Fort McMurray customers, but they have customers in South East Alberta, Saskatchewan, North Dakota,  along the foothills of Alberta, North East BC, Newfoundland and on every continent as well..



They are already feeling international sales especially drop..



They have frozen hiring and will probably lay off electrical apprentices if declining sales continue much longer..



My husband will not be laid off, but he will not get a raise or receive a bonus it this continues much longer..



He was supposed to go to Norway 10 days ago, but their customer there cancelled the sale because of declining prices for oil in that country..



My husband says the Fort McMurray bitumen will be able to last out the price decline because they are on longer term contracts, but conventional oil like my husband's company does, relies on short term capital spending and it is being slashed right now..



This will have an affect on my job too if low revenues remain for a while..



Provincial civil servant wages and hiring will be frozen too..



We are moving towards some difficult times, but we have been there before..



I hope other people are able to cope with this downturn as well as we will and have in the past.

It's just a cycle.  It will steady out again soon enough.  I have the INTSOK (Norwegian Oil and Gas Partnership) report for 2015-2018 on my desk and it is projecting short term decline, but overall growth over the period.  Statoil is ramping down capital expenditures in preparation for a spending spree in Mexico, as are several of the others big players.  They do this every five years or so.  I won't pretend to understand the intricacies of global oil prices, but these cycles are quite normal (and one of the reasons the oil sands have longer term contracts).  Similar to your husband's, my company relies on short term capital spending, so this will hurt for a year or two, then there will be a boom.



That said, EU is not wrong in that the production cost of the oil sands is substantially higher per barrel than many conventional means of extraction, so a drop in price makes many projects infeasible.  Offshore is similar.  They are the first to slow down growth and development when prices drop, which doesn't affect operations so much, but does affect new capital expenditures, so growth, acquisitions, etc. will also be affected in the oil sands.

[Anonymous]

That said, EU is not wrong in that the production cost of the oil sands is substantially higher per barrel than many conventional means of extraction, so a drop in price makes many projects infeasible.  Offshore is similar.  They are the first to slow down growth and development when prices drop, which doesn't affect operations so much, but does affect new capital expenditures, so growth, acquisitions, etc. will also be affected in the oil sands.

Reel, I love ya dude, but I think you are giving far too much credit to an idiot who accepts everything posted by his union on the lunchroom BB as gospel truth. Anywa, he was not talking about our costs, but the discounts we receive on all grades of oil in Western Canada.



Too many people see pics of an aging open-pit Syncrude mine with a huge upgrader beside it and say ah ha, that is the "tar sands". Nothing could be further from the truth. In fact, that part of the Athabasca oilsands is going the way of the t-rex. There are so many different ways of extracting bitumen now that have reduced our environmental impact and improved our bottom line. In 2007, Shell reported profits of $21.75 per barrel from the oil sands. Its average worldwide profit from crude-oil production was $12.41 per barrel. It has only gotten better since then. I could give you so many more examples too if you are interested and even from my own facility near Cold Lake.



I actually welcome a lull in development to bring our labour costs under control.  As you mentioned Norway, we are experiencing the same cost pressures here. A period of slowing expansion in new activity would do the industry a lot of good.

[reel]

That said, EU is not wrong in that the production cost of the oil sands is substantially higher per barrel than many conventional means of extraction, so a drop in price makes many projects infeasible.  Offshore is similar.  They are the first to slow down growth and development when prices drop, which doesn't affect operations so much, but does affect new capital expenditures, so growth, acquisitions, etc. will also be affected in the oil sands.

Reel, I love ya dude, but I think you are giving far too much credit to an idiot who accepts everything posted by his union on the lunchroom BB as gospel truth. Anywa, he was not talking about our costs, but the discounts we receive on all grades of oil in Western Canada.



Too many people see pics of an aging open-pit Syncrude mine with a huge upgrader beside it and say ah ha, that is the "tar sands". Nothing could be further from the truth. In fact, that part of the Athabasca oilsands is going the way of the t-rex. There are so many different ways of extracting bitumen now that have reduced our environmental impact and improved our bottom line. In 2007, Shell reported profits of $21.75 per barrel from the oil sands. Its average worldwide profit from crude-oil production was $12.41 per barrel. It has only gotten better since then. I could give you so many more examples too if you are interested and even from my own facility near Cold Lake.



I actually welcome a lull in development to bring our labour costs under control.  As you mentioned Norway, we are experiencing the same cost pressures here. A period of slowing expansion in new activity would do the industry a lot of good.

Interesting points Shen Li.  Thanks.  I was under the impression that the cost of extraction/refinement per barrel was still substantially higher for oil sands bitumen, but this is based on (likely outdated) media information.



I get what your saying about the labour.  I imagine with the huge growth that has occurred the local infrastructure still hasn't caught up and you are still paying unreasonable incentives to attract enough people.