This Is Idiotic Even By Their Standards

[Obvious Li]

this current price drop is a result of many factors..



1. worldwide demand has dropped dramatically as a result of the global downturn...especially in Europe

2. As a result of shale oil technology and fracking in the USA they now produce enough to satisfy their domestic need coupled with the fact domestic demand for world oil peaked a couple of years ago.

3. Middle eastern OPEC producers are forcing the price down to make the shale gas and oil industry in the USA unprofitable or marginal at best to force a lot of those producers out of business

4. Canadian oil sands production is increasing at the same time all these other events are occurring



SL is correct in her points regarding the loss of funds due to lack of pipeline capacity from Alberta to tide water....cost of production has dropped dramatically in the oil sands...the biggest problem we have in NA is lack of refinery capacity and delivery systems (pipelines)...the cost to refine a litre of gasoline is the reason the price is so high..not getting it to the refinery.....unfortunately there is a segment of society that would be quite happy to see the price of a litre of gas at $6.00.....sick fucks

[Anonymous]

this current price drop is a result of many factors..



1. worldwide demand has dropped dramatically as a result of the global downturn...especially in Europe

2. As a result of shale oil technology and fracking in the USA they now produce enough to satisfy their domestic need coupled with the fact domestic demand for world oil peaked a couple of years ago.

3. Middle eastern OPEC producers are forcing the price down to make the shale gas and oil industry in the USA unprofitable or marginal at best to force a lot of those producers out of business

4. Canadian oil sands production is increasing at the same time all these other events are occurring



SL is correct in her points regarding the loss of funds due to lack of pipeline capacity from Alberta to tide water....cost of production has dropped dramatically in the oil sands...the biggest problem we have in NA is lack of refinery capacity and delivery systems (pipelines)...the cost to refine a litre of gasoline is the reason the price is so high..not getting it to the refinery.....unfortunately there is a segment of society that would be quite happy to see the price of a litre of gas at $6.00.....sick fucks

North American oil and gas development has those evil OPEC slimebuckets in a cold sweat. This is why they are going to go to the extreme of deliberately driving prices down in an effort to shelve North American shale oil and oilsands development. Might work in the short term, but that is it. Just a reflection of how desparate those fucks have become.

[Anonymous]

Ricky Leong nailed it on Obongo's hypocrisy when it comes to the Northern leg of Keystone.

Crude oil isn't flowing but hyperbole certainly is.



Last week, the U.S. House of Representatives gave its blessing to the long-delayed multibillion-dollar Alberta-to-Nebraska segment of TransCanada's Keystone XL pipeline — the ninth time this has happened.



The saga returns to the Senate, with a vote scheduled Tuesday. If approved there, the matter returns to the desk of U.S. President Barack Obama, whose consent is required because the pipeline project crosses the international boundary.



He raised eyebrows Friday, when he appeared to suggest he would not approve the pipeline no matter what Congress says. "Understand what this project is: It is providing the ability of Canada to pump their oil, send it through our land, down to the Gulf, where it will be sold everywhere else," Obama said during a visit to Myanmar before attending this weekend's G20 summit in Brisbane, Australia.



He previously questioned the project's ability to create permanent jobs, reduce gas prices and generally be good for Americans' pocketbooks — implying Keystone would do none of those things.



What Obama said Friday is true ... except he left out a lot of other truths.



On what the pipeline will carry, he neglected home-grown benefits from Keystone's northern segment, which would help carry Bakken oil to refineries in Louisiana — both boons to the American economy. Besides, domestic energy production is a central plank of Obama's administration, with its All-of-the-Above Energy Strategy touted as a means of making the U.S. "more energy independent" while "supporting jobs" — including those related to fossil fuel.



Obama has backed not-so-green jobs in the past.



This summer, he exhorted Republicans to join Democrats to support the Highway Trust Fund as a means of keeping hundreds of thousands of people employed.



Is the quality and longevity of road construction jobs any better than those opportunities generated by Keystone?



The White House trumpets the revival of the U.S. auto industry as one of its success stories. Last time I checked, Cookie Monster's zero-emissions, imagination-fuelled vehicle isn't really a thing. So building roads, bridges and cars is good, domestic fracking and extracting Bakken crude is good ... but Keystone is bad.



Obama's recent musings only inflated Keystone's already overrated impact on the environment.



This lone pipeline has become the symbol of an oil-addicted, self-destructing world. Blocking it is seen as a step in warding off imminent environmental disaster.



It has yet to be demonstrated how Keystone's construction or cancellation would alter the behaviour of consumers — the individuals whose choices are the real drivers of energy consumption and the resulting greenhouse gas emissions.



The hyperbole doesn't stop at the border: Canadians mustn't succumb to overstatement, either.



Keystone is not a panacea.



A direct pipeline to the Gulf would make it easier to close the gap between the price of West Texas Intermediate and Western Canada Select.



But even without a pipeline, the price of oilsands crude has been slowly rising as firms found other methods to move their product to market.



Given the recent drop in world oil prices, the discount for oilsands crude is now only about 10.5%. A year ago, the discount was almost 34%.



And it's worth noting a new pipeline to the U.S. would do nothing to address how Alberta manages the money it receives from its immense oil wealth.



Whether Keystone's a go or no, it won't be the end of the world.

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