the ultimate stimulus is peace. and with the gov't expenditure exploding there is no peace. all this debt has to be paid.
This is true and WILL happen. The USA is about to embark on a bankrupting of Canada. After we are left to be completely strangled by US trade barriers, the bankers will come in and buy everything up on the cheap. Or just invade Canada and take over on a long weekend.
I live near by. I do not know anyone that works out there and you are right the rigs have stopped and the expansion plans have been reduced but the costs for syncrude are right. If I had more time to look into this I would only check to see if they lower the cost per barrel by the nat gas they also sell. But I only think the metal miners do that kind of thing. You from Alberta?
Thank you for attempting to be a man Traderbitch, i will explain this to you in dummy terms now since i live close to the sands OIL CAN NOT BE EXTRAPOLATED FROM THE SANDS AT A PROFIT AT THIS POINT IN TIME FOR LESS THAN 60-80 A BARREL. REPEAT TWICE IN THE MIRROR AND IT WILL BE THE ONLY TWO RELEVANT POINTS YOU HAVE HAD IN YOUR ENTIRE PINKO LIFE.
I am from edmonton and 90% of my friends who were rig pigs are currently seeking employment, the oil sands are not operating/ are doing so at 10% capacity at the current cost of crude, go talk to any rig pig you know who worked on the oil sands and ask if they are drilling at current levels, anyone who says yes is either a) one of the few who works on a mine with tons of spare capital and expansion in mind who can float it. (10%) b) full of shit.
Sorry if i cme across as hostile didnt mean to be like that, everyone is pumping BS numbers right now while guys are losing their shirts just wait till you see the cost of housing in ALBERTA absolutely plummet, it will happen in Saskatchewan too as there was a mini boom there as well from the rigs. Mark to market is a beauty, accountants can fudge numbers for a long time to keep idiots like tradernicole in the dark. Wait till the next quarter or maybe 2 from now and then tell me i was wrong. One of the main problems in all of this that no one understands is that input costs went SKY HIGH on these guys in 2007/2008 when they were raking in the dough, i knew rough necks making 100k a year. Thats why all these guys are toast or getting fired but the problem is the bar had already been raised, they ABSOLUTELY CANNOT DRILL OIL AT THE SAME 30-40$ A BARREL THEY USED TO. And if that little fruit cake Tradernik ever wants to question/misquote me again i would be more than willing to put up trading statement showing i make twice what he makes in a year in a couple months. As long as he is willing to bet me money, which i am pretty sure that is one department where his resources are lacking.
I highly doubt Obama will stop oilsands. Actually, it would be impossible. The US is going through once in a generation recession (or depression) right now, and to curtail oil imports would cause a skyrocketing of oil prices. The US needs Canadian oil desperately - dirty or not. Canada, not Saudi Arabia is America's biggest supplier of oil. I realize that comes as a shock to most people.
This from the fourth paragraph from the Times "The cost of production can be as high as $70 a barrel compared with $5 a barrel for some of the largest onshore oilfields in the Middle-East. " http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article5447053.ece Note the 70 a barrell quote Tradenik. While i am sure all your friends from ontario tell you the west is holding out on you believe me when i say the only reason you liberal faggets have a voice right now is cause the west completely supports you monetarily. It would be a proud day for western canada if ontario and quebec took a province and just killed themselves in record numbers, instead of leaching every dime we make and crying about how we are lying about the cost of a barrel of oil.
You Canadians fail to understand how the global elitist work. First we'll bankrupt your country and then take the oil and all theorher natural resources. As bad as things are, we still have a miitary capable of ruiling the world.
Oil is a global commodity. It doesn't matter if the US gets its oil from Canada or Saudi. Canadians will continue to export their oil - regardless of US support - at spot + higher delivery. This does not change much.