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Canadian Oil Sands Per Barrel At $4.47, Now Cheaper Than 12-Pack Coke, $5.08
Canadian Oil Sands Per Barrel At $4.47, Now Cheaper Than 12-Pack Coke, $5.08 The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Coke purchased at Walmart. According to oilprice.com, the current price of a barrel […]
TAR SANDS OPERATIONS GO FROM BAD TO WORSE: Now Losing Billions A Month
TAR SANDS OPERATIONS GO FROM BAD TO WORSE: Now Losing Billions A Month The situation at Canada’s Alberta Tar Sands Operations has gone from bad to worse as the super-low oil price is now costing the industry billions of dollars each month. Unbelievably, the price for the Western Canadian Select heavy oil fell to a […]
Disaster Hits Canada’s Oil Sands
Disaster Hits Canada’s Oil Sands Kinder Morgan said it would halt nearly all work on a pipeline project that is crucial to the entire Canadian oil sands industry, representing a huge blow to Alberta’s efforts to move oil to market. Kinder Morgan’s Trans Mountain Expansion is the largest, and one of the very few, pipeline […]
Is This The Beginning Of An Oil Sands Revival?
Is This The Beginning Of An Oil Sands Revival? New life was breathed into the Canadian oil sands with a decision by foreign-owned Harvest Operations Corp to commission its BlackGold project south of Fort McMurray. The Calgary-based arm of South Korean state-owned Korea National Oil Corp announced on Dec. 21 it will start the 10,000 […]
Canadian Oil Prices Plunge To $30
Canadian Oil Prices Plunge To $30 Oil from Canada’s oil sands is now selling at a $27-per-barrel discount relative to WTI, the sharpest difference in more than four years. Western Canada Select (WCS), a benchmark for oil from Alberta’s oil sands, has plunged in December, falling to just $30 per barrel at the end of […]
In Spite Of Oil Price Slump, Canadian Oil Output To Increase
In Spite Of Oil Price Slump, Canadian Oil Output To Increase It was yet another depressing headline congruent with the rest of the bad news bombarding the battered Canadian oilpatch for 15 months. On February 22 Postmedia (National Post, Calgary Herald, Edmonton Journal) carried the headline, “Canadian oil production growth could come to ‘complete standstill,’ IEA […]
For Canadian Oil Sands It’s Adapt Or Die
For Canadian Oil Sands It’s Adapt Or Die That low oil prices are squeezing out oil sands producers is not breaking news. But in spite of a grim oil price outlook, production out of Calgary has continued to grow, defying both expectations and logic. The implications are serious, not just for the future of Canada’s […]
Global Economic Fears Cast Long Dark Shadow On Oil Price Rebound
Global Economic Fears Cast Long Dark Shadow On Oil Price Rebound After bouncing around, oil prices finished off the week with just a bit less volatility than when it started the week. WTI stayed at around $46 per barrel as of midday on September 4, with Brent holding at $50 per barrel. Aside from supply […]
It Just Doesn’t Matter
It Just Doesn’t Matter When an avalanche is about to descend upon you, does it really matter which snowflake was the penultimate cause? While it’s interesting (in a mental masturbation kind of way) to debate the genesis of a pending market collapse, environmental chaos, or energy cliff, in the end, it really doesn’t matter–unless, of course, […]
100,000 Layoffs and Counting: Is this the New Normal?
100,000 Layoffs and Counting: Is this the New Normal? This time a year ago, the oil industry’s biggest problem was finding a way to deal with the “retirement tsunami” about to crash down on it as older oilfield workers hung up their cork boots to enjoy freedom-55. Now, with oil prices still in the doldrums, […]
