Just heard a statement from Roger Hedgecock on his afternoon radio show that Obama will inform Canada that the US will cease imports of tar sands oil in the near future. Reason: Global warming! This is just a rumor from a radio talk show. But after this week nothing suprises me.
Alberta is gonna be PISSED! Short the oil sands companies, quick! Via short CAD is probably the most liquid and effective hedge given the time.
costs oilsands WAY more than 35$ to pull a barrel of oil. so why is this news? they are cooked anyway..
I really hope that this is not true. If we continue to by from the Saudi's but tell Canada to f@#K off-well, you know the policy ramifications from this. http://www.bloomberg.com/apps/news?pid=20601103&sid=a0uCsgmBhqXg&refer=us
has some teeth to it http://www2.canada.com/calgaryherald/news/story.html?id=8daa1fae-0944-44f1-a0cd-c08dcd1ee218 50/50 he does it, but what a dumb move at a time like this.
Almost as dumb as trumpeting a "major win" for a 787 billion dollar stimulus bill that will do nothing but make matters exponentially worse. Nothing out of this inexperienced and obviously incompetant administration surprises me.