Investing

is now the time to invest in oil stocks?

  • Last Updated:
  • Oct 11th, 2019 2:52 pm
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Deal Fanatic
Feb 15, 2006
8283 posts
2560 upvotes
Toronto
bluebumbler wrote:
Dec 6th, 2018 11:14 am
Yeah that's helpful. Extremes never do any good. Shutting down Alberta does nothing to change world oil demand. Ethical oil is a realty. You can't simply ignore all the social benefits of Canadian oil vs Saudi/Russian/Nigerian/Venezuelan etc, and say shut it down because it is has more C02 emissions. Take a look at the big picture before spewing rhetoric, it does nothing but polarize the country, and that's working so well in the US right now.
That article is just describing the reality. You don't like it, so you call it extreme. Thinking your picture is the big picture and other people's are not, is still not helping to transport the dirty oil from Alberta to sell at a higher price.
Newbie
Dec 8, 2013
92 posts
29 upvotes
Arrgh wrote:
Dec 6th, 2018 11:27 am
That article is just describing the reality. You don't like it, so you call it extreme. Thinking your picture is the big picture and other people's are not, is still not helping to transport the dirty oil from Alberta to sell at a higher price.
If bankrupting an entire province is not extreme I'm not sure what is.
Deal Expert
User avatar
Sep 19, 2004
22506 posts
4358 upvotes
Waterloo
crude now +4%

LOL at the swings
U.S. crude oil +5% as OPEC reportedly reaches production cut deal

Crude oil futures are now surging on reports that OPEC has struck a deal to cut production: WTI +4.9% to $54.03/bbl, Brent +5.2% to $63.19/bbl.
Iraq's oil minister says OPEC members agree to cut ~800K bbl/day with non-OPEC allies including Russia asked to cut 400K bbl/day for combined reductions of 1.2M bbl/day, with October oil output as the deal's baseline; the agreement will last for six months, to be reviewed in April.
Iran was granted an exemption from the cuts since it is under sanctions from the U.S.
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Deal Fanatic
Feb 15, 2006
8283 posts
2560 upvotes
Toronto
bluebumbler wrote:
Dec 7th, 2018 5:08 am
If bankrupting an entire province is not extreme I'm not sure what is.
Alberta is not bankrupt. We spent many days in Alberta this summer. My niece moved there to be a medical specialist. The oil industry has a big self inflicted wound there, but oil is not the only business in town there.

I still hold oil stocks and I'm not happy with their prices now. But the problem is there is too much dirty oil and more are still being produced despite no capacity to ship them out. If it's not oil but rocks, and too many companies are there digging rocks but cannot move the rocks out to sell at a good price, you then keep digging to pile up more rocks, you then just keep hurting yourself and the price of rocks.
Deal Fanatic
Feb 15, 2006
8283 posts
2560 upvotes
Toronto
Arrgh wrote:
Dec 7th, 2018 11:37 am
Alberta is not bankrupt. We spent many days in Alberta this summer. My niece moved there as a medical specialist and in a few short months she delivered hundreds of babies (so Albertans are producing, lots). The oil industry has a big self inflicted wound there, but oil is not the only business in town there.

I still hold oil stocks and I'm not happy with their prices now. But the problem is there is too much dirty oil and more are still being produced despite no capacity to ship them out. If it's not oil but rocks, and too many companies are there digging rocks but cannot move the rocks out to sell at a good price, you then keep digging to pile up more rocks, you then just keep hurting yourself and the price of rocks.
Member
Aug 16, 2015
411 posts
76 upvotes
Arrgh wrote:
Dec 5th, 2018 4:48 pm
Climate fears are real, so oilsands must close.

Try to build pipelines to sell dirty oil at a better price? Ignore all environmental concerns? BC's not going to allow it. Sweeping B.C. climate change plan targets heavy emitters with new rules, carbon tax incentives.
How can you say this with a straight face as this ndp green abomination is going ahead with lng? I feel very bad that I voted for ndp. We wanted a change from cristy clark but these new guys are beyond terrible.

Anyways canada should cut and cut deep and keep it that way.

We will realize better prices for wcs and also increase wti prices as both opec and canada cut.

Increasing production is like cutting off your nose to spite your face. These shale idiots just destroyed their own companies share price.
Deal Guru
Jun 26, 2011
12424 posts
2648 upvotes
Markham
kilburn305 wrote:
Dec 8th, 2018 6:22 pm
How can you say this with a straight face as this ndp green abomination is going ahead with lng? I feel very bad that I voted for ndp. We wanted a change from cristy clark but these new guys are beyond terrible.

Anyways canada should cut and cut deep and keep it that way.

We will realize better prices for wcs and also increase wti prices as both opec and canada cut.

Increasing production is like cutting off your nose to spite your face. These shale idiots just destroyed their own companies share price.
You're against the LNG Canada project?
Deal Addict
User avatar
Mar 31, 2009
1098 posts
613 upvotes
I don't know how any Canadian with any sense could be against Canadian oil, Canadian pipelines, etc. Natural resources, most importantly oil, is what Canada has to offer, it is our competitive advantage. We have the golden goose and our government is too dumb to take the golden eggs. We'd rather kill the goose and start looking for some other way to scrape by.

I dream of having a government that has the goal of utilizing our resources to their fullest potential, for the good of the country, and be willing to step on a few toes along the way to make it happen.

I'm sick and tired of governments catering to all the whining and crying special interest groups and greenies, throwing away the potential wealth of the country.
Member
Aug 16, 2015
411 posts
76 upvotes
RolandCouch wrote:
Dec 8th, 2018 11:25 pm
You're against the LNG Canada project?
No I'm saying they're hypocrites for blocking the pipeline but giving away all kind of subsidies to LNG.

I support all the projects. I wish horgan and his ass puppet weaver would just call an election already. If alberta dumps Notley can we replace comrade horgan with her? She seems like a smart and reasonable NDP politician.

https://www.cbc.ca/news/canada/british- ... -1.4937438

Oh look. They're trying to screw the industry even more. getting the regulator to shut down CNQ operations now. And they're actively trying to crash the housing market IMO.
Deal Expert
User avatar
Sep 19, 2004
22506 posts
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Waterloo
unknownone wrote:
Dec 9th, 2018 12:30 am
I don't know how any Canadian with any sense could be against Canadian oil, Canadian pipelines, etc. Natural resources, most importantly oil, is what Canada has to offer, it is our competitive advantage. We have the golden goose and our government is too dumb to take the golden eggs. We'd rather kill the goose and start looking for some other way to scrape by.

I dream of having a government that has the goal of utilizing our resources to their fullest potential, for the good of the country, and be willing to step on a few toes along the way to make it happen.

I'm sick and tired of governments catering to all the whining and crying special interest groups and greenies, throwing away the potential wealth of the country.
If the government isn't fully 100% helping oil but instead against it (carbon tax, bill 69?), how can we fight against it?
we're too peaceful to "protest" like France, and we are dumb enough to vote Liberals :(
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Deal Addict
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Mar 31, 2009
1098 posts
613 upvotes
If everyone was angry about the ineptitude of the government when it comes to the handling of our golden goose, I'm sure the situations would improve somewhat. Either trudeau would become a chameleon and begin to be pro-Canadian-oil, or he'd be voted out.

Right now if you mention there being problems with the oil and gas industry in Canada there are more people who would start talking about how we shouldn't let them pollute so much than there are people who would talk about how we're the laughing stock of the oil and gas industry due to how badly we utilize our golden goose.

It's like people forget or don't realize that by stopping Canadian oil, you're not reducing pollution, you're not reducing oil consumption, you're just making sure other countries get rich from it instead of ours. You're handing money to Iraq, Iran, the saudis, russia, and the USA. You're not actually helping anything or doing anything at all positive for the world if you stand in the way of Canadian oil, you're just making sure someone else gets rich off of it instead of us. Personally, I'd rather that Canada be rich than Saudi Arabia. The oil's going to be pumped and used no matter what, would you rather that the world be burning Saudi oil or Canadian oil? It's going to get burnt either way. One way involves Canada being rich and all our futures being financially better, the other way involves the Saudis and OPEC being rich. I care about Canada, I want Canada to be the best country in the world, and for that reason I fully support the Canadian oil and gas industry.

For anyone who doesn't care about Canada, you can keep opposing pipelines, oilsands, etc. But you're just hurting yourself and your fellow Canadians. It's a shame.

Canada needs to milk our golden goose, take every egg we can, and then with all the riches, you can spend some of that money on special interest groups (if you want to be the social justice warrior that I know Trudeau aspires to be). Because we could be so rich that there would be a lot more to go around. Instead of standing in the way of our potential and handing that money to Saudi Arabia so that they can execute more innocent people, build more islands out of nothing, and have more princes driving gold plated bugattis
Member
Aug 16, 2015
411 posts
76 upvotes
Can we really blame trudeau? It seems he really does want them built imo he just doesn't want to ram it through doug ford style.

The one to really blame is comrade Horgan.
Deal Fanatic
User avatar
Jul 14, 2008
8167 posts
1802 upvotes
Ontario
kilburn305 wrote:
Dec 9th, 2018 7:57 pm
Can we really blame trudeau? It seems he really does want them built imo he just doesn't want to ram it through doug ford style.

The one to really blame is comrade Horgan.
Not necessarily you, but isn’t that a perfect commentary on politics now in the 21st century? When a leader is tasked with LEADING, and making decisions for the betterment of who they are leading, it’s marred with language of “Ford-style” or “Trump-style” or populist, etc.

We’ve created a caricature of leadership, wishy washy never commit always on the sideline, forever neutral, well it depends, kind of leadership. Anyone who has a strong conviction and is willing to pursue it because they genuinely feel its for our good has become the new “a woman who has drive in the workplace is a bitch” mentality. Or Ford style. Or Trump style.

I wonder how today’s mind would handle the leadership of the greats we revere from only decades ago. Trudeau needs to lead and consider the needs of Canadians first and foremost. All oil is dirty. Whether one creates more pollutants or one enriches despot nations who are literally an enemy to modern freedom, it’s all dirty.
Sr. Member
User avatar
Oct 14, 2015
686 posts
298 upvotes
Absolutely priceless !
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Deal Addict
Aug 12, 2004
4112 posts
1471 upvotes
Calgary
Arrgh wrote:
Dec 5th, 2018 4:48 pm
Climate fears are real, so oilsands must close.

Try to build pipelines to sell dirty oil at a better price? Ignore all environmental concerns? BC's not going to allow it. Sweeping B.C. climate change plan targets heavy emitters with new rules, carbon tax incentives.
Do you own an electric car? Are you doing your part and refusing to drive cars that run on gas?

https://context.capp.ca/energy-matters/ ... -footprint

https://www.oilsandsmagazine.com/technical/in-situ

I don't like to become political, because it's pointless to argue logic with people who have made their line in the sand on a subject they are clueless about. I've been to the oil sands, I've seen the good and the bad. The pictures you will see on the media will always be one of a mining site, not an In-situ site (as a photo of a well pad surrounded by green trees does not make for great media). Case and point, the photo in your shows a tailings pond at a mining site. Also not mentioned is how by law all land used needs to be reclaimed and redeveloped.

Of course, most mining sites outside of oil sands looks like that as well, but they don't make the media rounds.

http://www.vancouversun.com/province+ap ... story.html

http://www.vancouversun.com/business/ec ... story.html


A mine is a mine is a mine. A copper or gold mine is just as destructive as an oil sands mine, but the negatives don't make the Canadian media rounds for whatever reason.

https://www.theguardian.com/us-news/201 ... c-mine-epa
At least 3,000 geese killed by toxic water from former Montana copper mine
http://www.mining.com/tailings-dam-of-l ... safe-teck/

https://en.wikipedia.org/wiki/Mount_Pol ... e_disaster
The Mount Polley mine disaster is an environmental disaster in the Cariboo region of central British Columbia, Canada, that began 4 August 2014 with a breach of the Imperial Metals-owned Mount Polley copper and gold mine tailings pond, releasing its water and slurry with years worth of mining waste into Polley Lake. The spill flooded Polley Lake, its outflow Hazeltine Creek, and continued into nearby Quesnel Lake and Cariboo River. By 8 August the four square kilometres sized tailings pond had been emptied of the majority of supernatant (process water) that sits atop the settled solids (mining waste, or 'tailings'). Water tests showed elevated levels of selenium, arsenic and other metals similar to historical tests before the disaster. The cause of the dam break has been investigated with a final report published 31 January 2015. Imperial Metals had a history of operating the pond beyond capacity since at least 2011.
Following a spill of 850,000 litres of process water caused by a frozen pipeline at Highland Valley Copper's tailings facility in British Columbia’s Interior, Teck Resources spokesperson Chris Stannell said the safety and stability of the mine’s tailings dam were not affected.

In an email statement, Stannell also said that the April 8 incident didn’t cause any environmental impacts, as it was promptly reported and the damaged line was taken out of service for repairs.
We all need more metals like arsenic in our water anyways.

And mmm aluminum smelter no one ever has issues with those. Not sure why Iceland seems to care more about it than the BC public. It must because the media is too busy going after oil sands.

http://www.savingiceland.org/2017/02/a- ... employees/

Image

Image

https://www.miningandenergy.ca/miningin ... m_smelter/

Image
Permits allow Rio Tinto Alcan to increase sulphur emissions by 56 per cent, but it could take up to two years before it reaches that level as increased production ramps up.
Mmm suphur. Enviromnentally friendly BC right there folks. I hate the hypocrisy.

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