Take the Monday gains and run.... We're still stuck with Trudie Green panties running the show.
is now the time to invest in oil stocks?
- Last Updated:
- Mar 4th, 2024 9:55 am
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- SCORE+30
- love2save
- Deal Addict
- Dec 1, 2012
- 1873 posts
- 1664 upvotes
- Lake Simcoe
- PrinceMS
- Deal Fanatic
- Jul 30, 2003
- 6625 posts
- 1248 upvotes
- Toronto
- retireat50
- Sr. Member
- Sep 29, 2007
- 762 posts
- 247 upvotes
XPEV sold off huge too actually. Who cares about short seller report - they always take their profits hours after the report is issued.
Anyways back on topic. Line 5 will be shut down in six months. This means 1) No place for Alberta oil to go and 2) Ontario refineries running well below capacity. Huge blow overall and this isn't even mentioned by Canadian websites at this time. CBC Business section doesn't even show this story even though it happened about 24 hours ago. This should be front page news right now
https://www.mlive.com/public-interest/2 ... itmer.html
Anyways back on topic. Line 5 will be shut down in six months. This means 1) No place for Alberta oil to go and 2) Ontario refineries running well below capacity. Huge blow overall and this isn't even mentioned by Canadian websites at this time. CBC Business section doesn't even show this story even though it happened about 24 hours ago. This should be front page news right now
https://www.mlive.com/public-interest/2 ... itmer.html
- faken
- Deal Guru
- Sep 21, 2007
- 13018 posts
- 11360 upvotes
- ...
I'm selling out when i get my divs lol.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
- divx
- Deal Expert
- Oct 26, 2003
- 39289 posts
- 6324 upvotes
- Winnipeg
- faken
- Deal Guru
- Sep 21, 2007
- 13018 posts
- 11360 upvotes
- ...
- Stryker
- Deal Fanatic
- Jul 23, 2007
- 5113 posts
- 4890 upvotes
The calendar year has not ended yet, but so far the only disappointment for me in the energy sector has been the earlier dividend cut from IPL. Not entirely surprised since I knew I was taking a risk in continuing to hold after buying a few years ago. I continue to own shares in four other Canadian pipelines, and so far, so good.
The government of China has said recently that they'll be carbon free by 2060. Looking forward that's a heck of a long time yet. Looking back it also seems like a long time since Rachel Carson's book "Silent Spring" was published spurring at least some people to slowly start making changes to improve the earth's environment. DDT anyone?
I guess if it was that easy to make major changes here in North America and around the world to produce clean energy, it would have been done long ago. Still waiting. I've gotten to the age where promises are meaningless to me. Don't just talk about it, show me.
The government of China has said recently that they'll be carbon free by 2060. Looking forward that's a heck of a long time yet. Looking back it also seems like a long time since Rachel Carson's book "Silent Spring" was published spurring at least some people to slowly start making changes to improve the earth's environment. DDT anyone?
I guess if it was that easy to make major changes here in North America and around the world to produce clean energy, it would have been done long ago. Still waiting. I've gotten to the age where promises are meaningless to me. Don't just talk about it, show me.
- Gungnir
- Deal Addict
- Oct 21, 2014
- 1936 posts
- 2932 upvotes
- Burlington, ON
China is building hundreds of coal fired plants as we speak. It really surprised me, I have always thought that solar was going to be the way forward, the sun produces more energy than we could ever possibly use.Stryker wrote: ↑ The calendar year has not ended yet, but so far the only disappointment for me in the energy sector has been the earlier dividend cut from IPL. Not entirely surprised since I knew I was taking a risk in continuing to hold after buying a few years ago. I continue to own shares in four other Canadian pipelines, and so far, so good.
The government of China has said recently that they'll be carbon free by 2060. Looking forward that's a heck of a long time yet. Looking back it also seems like a long time since Rachel Carson's book "Silent Spring" was published spurring at least some people to slowly start making changes to improve the earth's environment. DDT anyone?
I guess if it was that easy to make major changes here in North America and around the world to produce clean energy, it would have been done long ago. Still waiting. I've gotten to the age where promises are meaningless to me. Don't just talk about it, show me.
Link
- divx
- Deal Expert
- Oct 26, 2003
- 39289 posts
- 6324 upvotes
- Winnipeg
- chriskanaan
- Member
- Jan 31, 2008
- 492 posts
- 226 upvotes
- Québec
I am overweight REITs and energy.
Biggest REIT: Smartcentres (largest position), BTB Reit, Chartwell Retirement, American Hotel Income Properties (Covid rebound play), H&R REIT.
Energy: Freehold Royalties, Whitecap Resources, Trican Well Service, Tourmaline, MEG Energy, small position in Vermilion Energy
There is a huge supply shock coming to the energy markets as investment decayed over the past several years.
Ultra low interest rates is very bullish for REITs. Most are still down a bit from Covid, lots of opportunity out there.
Trudeau plans record immigration, all mostly going to heavily populated areas where REITs thrive; meanwhile, Covid vaccine is coming late 2020, early 2021 and it will send the economy into overdrive which is extremely bullish for oil and gas markets. Considering Canada is now good pipeline wise for the next 20 years with Transmountain and Line 3, there are no concerns on that front.
We also have extensive natural gas projects in the making such as the NGTL expansion, LNG Canada, several coal conversions in Alberta and Saskatchewan as well as more takeaway capacity to eastern Canada, all while associated gas production in USA crumbles which is likely to put upwards pressure on Canadian natural gas. Great opportunity to go long for the next few years.
"It is never too late to be what you might have been. "
- chriskanaan
- Member
- Jan 31, 2008
- 492 posts
- 226 upvotes
- Québec
Line 5 is highly unlikely to be shutdown in 6-months. Her lawsuit requires validation. Whitmer has lost all cases in Michigan and the federal regulator (PHMSA) have always sided with Enbridge and never found any violations to justify what the politically angled Whitmer-Nessel adminstration is claiming. I watched the entire court proceeding months ago in Michigan on Youtube and have been following the case closely for the past several years. Had Whitmer been confident she could revoke the easement agreement from 1953, she would not have waited this long. She used all the tools in her toolbox and lost everytime, in Michigan court!retireat50 wrote: ↑ XPEV sold off huge too actually. Who cares about short seller report - they always take their profits hours after the report is issued.
Anyways back on topic. Line 5 will be shut down in six months. This means 1) No place for Alberta oil to go and 2) Ontario refineries running well below capacity. Huge blow overall and this isn't even mentioned by Canadian websites at this time. CBC Business section doesn't even show this story even though it happened about 24 hours ago. This should be front page news right now
https://www.mlive.com/public-interest/2 ... itmer.html
Either way, as upstream oil producers, we don't need Line 5, the east coast does as do those in upper Michigan as the line supplies 60% of the state's propane.
Enbridge is able to accomodate light crude crude and NGL by rerouting via existing network of pipelines.
Let them freeze if need be and shutdown the Toledo Refinery and hurt others. Western Canada does NOT need Line 5, Michigan and Ontario/Quebec do.
Don't forget, we won the battle on Line 3 and just got our final permits; plus, we also got Transmountain and a presidential permit on existing Keystone pipeline to boost volume.
Now, don't forget the Enbridge optimization which adds 265-300kbpd of oil either or the Southern Lights Reversal. Over 1,000,000 new barrels per day of new capacity.
All in all, Canada's oil takeaway is the best it has ever been and we are well positioned for the next two decades or more.
I can't say the same about Michigan or southern Ontario if they shutdown Line 5. Huge price shock coming for fuel and propane if successful.
Cheers.
"It is never too late to be what you might have been. "
- MrMom
- Deal Guru
- Aug 17, 2008
- 10942 posts
- 13443 upvotes
Back into TRP at $55.17
TC Energy to highlight sustainable long-term growth at virtual Investor Day
https://www.tcenergy.com/siteassets/pdf ... utlook.pdf
Indigenous group to invest up to C$1 billion in TC Energy's Keystone project
NOVEMBER 17, 20208:52 AM
https://reuters.com/article/idCAKBN27X1QY
TC Energy to highlight sustainable long-term growth at virtual Investor Day
https://www.tcenergy.com/siteassets/pdf ... utlook.pdf
Indigenous group to invest up to C$1 billion in TC Energy's Keystone project
NOVEMBER 17, 20208:52 AM
https://reuters.com/article/idCAKBN27X1QY
Answer not a fool according to his folly, lest thou also be like unto him = Never argue with an idiot, they'll only bring you down to their level & beat you with experience
- MrMom
- Deal Guru
- Aug 17, 2008
- 10942 posts
- 13443 upvotes
CNQ = $28 @jerryhung
Yeah, I think I read you are out. I'm holding out for a 30 handle.
Yeah, I think I read you are out. I'm holding out for a 30 handle.
Answer not a fool according to his folly, lest thou also be like unto him = Never argue with an idiot, they'll only bring you down to their level & beat you with experience
- love2save
- Deal Addict
- Dec 1, 2012
- 1873 posts
- 1664 upvotes
- Lake Simcoe
How did they power that Space-x rocket ship the other day? Was it Solar panels and cow dung???
Don't be too quick to sell cdn energy now....
Don't be too quick to sell cdn energy now....
- Blubbs
- Deal Fanatic
- Mar 21, 2013
- 6097 posts
- 10645 upvotes
- Canada
Bah, feels like I missed the boat on SU!
Maybe I will go into XOM on the next dip.
Maybe I will go into XOM on the next dip.
- vince201
- Member
- Sep 23, 2016
- 284 posts
- 143 upvotes
Looks like I missed the boat on VET, eyeing MEG, anyone is thinking to pull the trigger on MEG? WCS is like 32bucks right now so differential to WTI is like 9-10 bucks. I am still holding HSE and CPG strong lol.
- EuRaFree
- Sr. Member
- Dec 2, 2017
- 753 posts
- 868 upvotes
- 1xTiMeR
- Deal Fanatic
- Apr 25, 2006
- 8439 posts
- 3608 upvotes
VET is only 4 bucks lol, how is this boat missed?
"If you make a mistake but then change your ways, it is like never having made a mistake at all" - Confucius
- faken
- Deal Guru
- Sep 21, 2007
- 13018 posts
- 11360 upvotes
- ...
Oils not going anywhere for at least 5 yrs.
Buying 300 Meg
Buying 300 Meg
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
- love2save
- Deal Addict
- Dec 1, 2012
- 1873 posts
- 1664 upvotes
- Lake Simcoe
Reopening trade will be closed tomorrow...... NY city schools being closed. More to come.....