This could be the issue: http://finance.yahoo.com/q?s=CADUSD=XIs the price of gasoline no longer tied to the price of oil? They appear to be going in opposite directions.
what happens at $30 oil?Buy Cardinal Energy. 7% dividend sustainable even at $40 oil.
What difference does that make? Oil is sold at international prices. Does not really matter where it comes from.This could be the issue: http://finance.yahoo.com/q?s=CADUSD=X
And this:
“Most Canadians don’t realize, with the abundance of oil we have here in Canada, we still import almost 700,000 barrels a day into Atlantic Canada and the East Coast refineries,” said Greg Stringham, VP oil sands for the Canadian Association of Petroleum Producers.
Because of the lack of infrastructure, he said, refineries in Eastern Canada don’t have access to the vast amounts of oil being produced out West.
http://globalnews.ca/news/1464682/u-s-oil-exports-spike-and-most-of-it-comes-to-canada/
It does when the value of your currency has moved... Your selling oil at a $14 discount and buying it back at full price because you don't have left to right infrastructure - crazy.What difference does that make? Oil is sold at international prices. Does not really matter where it comes from.
Yes I heard it costs $20 a bbl to move the crude to market. At $100 that was pricy but at $50 it is HUGE. Pipelines are $2 a bbl. Too bad all our pipeline companies AND train seem to be run by incompetents that make it a huge NIMBY issue.It does when the value of your currency has moved... Your selling oil at a $14 discount and buying it back at full price because you don't have left to right infrastructure - crazy.
Crescent point just cut their divvy how is Cardinal looking. I hear oil out west us selling for $23 bbl now.Buy Cardinal Energy. 7% dividend sustainable even at $40 oil.
WTI touched a 52wk low of $41.35 today - that would mean WCS would trade in the 20s....Crescent point just cut their divvy how is Cardinal looking. I hear oil out west us selling for $23 bbl now.
Cardinals current payout ratio is 72%, much lower than many competitors so it's still a safe play. Exchange rate and hedged prices help them a lot.Crescent point just cut their divvy how is Cardinal looking. I hear oil out west us selling for $23 bbl now.
This problem is becoming an election issue. The NDP and the Liberals don't want any more pipelines built so that will make the problem even worse. You need new infrastructure to move oil and gas around but only the PCs are willing to approve new projects.Yes I heard it costs $20 a bbl to move the crude to market. At $100 that was pricy but at $50 it is HUGE. Pipelines are $2 a bbl. Too bad all our pipeline companies AND train seem to be run by incompetents that make it a huge NIMBY issue.
Wouldn't a new refinery in Fort Oil negate the problems of yet another pipeline?only the PCs are willing to approve new projects.
Do you have any idea how many billions it would cost to build a large scale refinery? Not to mention about 10 yrs. from planning and permitting to final testing and start up?Wouldn't a new refinery in Fort Oil negate the problems of yet another pipeline?
Or are the politicos so beholding to Big Oil and dare do only as they say?
Do you have any idea how many billions it would cost to build a large scale refinery? Not to mention about 10 yrs. from planning and permitting to final testing and start up?
Even if you were to build a new refinery you would still need to build pipelines to get the oil to the refinery and pipelines to move it wherever it needs to go.Do you have any idea how many billions it would cost to build the Keystone pipeline? Not to mention about 10 yrs. from planning and permitting to final testing and start up?
http://www.theglobeandmail.com/news...ng-moment/article25965077/?cmpid=rss1&ref=yfpEven if you were to build a new refinery you would still need to build pipelines to get the oil to the refinery and pipelines to move it wherever it needs to go.