Turbulence ahead

[Shitfly]

https://www.bloomberg.com/news/arti...g-oil-output-hike-beginning-all-out-price-war

Hold onto your hats..

 

[kanedog]

What do you think will be the result of this blasphemous action?

 

[Mountainman52]

Mean while Canada cant even build a PIPE Line to get to market .

 

[Shitfly]

Justin Turd-o will buy some more of that Saudi oil, just to show that we don't need our dirty oil here out west.. we're just gonna get kicked while were down..

 

[lilduke]

What do you think will be the result of this blasphemous action?

Price of oil is going to drop.

 

[lilduke]

https://youtu.be/eFnUFV_O0aY

 

[Stg2Suby]

What do you think will be the result of this blasphemous action?

If it's true and oil prices take another big drop this coming week I'll likely be laid off. Project I'm working on has been on shaky ground for months now and this will be the final straw.

 

[freeflorider]

Not likely we will see it at the pumps, fkn crooks will continue to gouge us where they can.

 

[Stg2Suby]

Not likely we will see it at the pumps, fkn crooks will continue to gouge us where they can.

This is the problem with large integrated oil companies who own everything from wellhead to retail distribution. They lose money with low oil price at the front end so they keep their pump prices high to make up the difference. Of course they'll never admit this but its pretty obvious.

 

[Luke The Drifter]

With the saudis deliberately ramping up production to tank the price per barrel, I can see tensions with Russia and the states escalating. I’m noticing a serious lull in my industry (heavy equipment rentals), and the general consensus I’m getting is a lot of contractors are really betting on TMX and coastal gas being built. Obviously this move by the saudis is not going to help those projects at all and take away what little confidence there is in Canadian energy development.

Interesting and scary times ahead imo

 

[DaveB]

If it's true and oil prices take another big drop this coming week I'll likely be laid off. Project I'm working on has been on shaky ground for months now and this will be the final straw.

Ditto. The summer of Dave n Stg2!!

 

[Catchme]

WTI opened at $31.62 USD/bbl today at 6:00. Down 22.84% from it’s close on Friday

 

[lilduke]

https://youtu.be/VULUk3z0xHY

 

[j335]

WCS at $18 and WTI $32...

 

[kanedog]

Not likely we will see it at the pumps, fkn crooks will continue to gouge us where they can.

Yep, when the price per barrel goes up, the prices at the pump, like Polaris sleds, instantaneously lift. But when the price per barrel goes down..........crickets. Wtf?

 

[doorfx]

.88 cents at Costco a couple days ago.

 

[Caper11]

Hang onto your hats, 2020 is going to be a **** show.

Economic crisis in the wind I’m thinking.

 

[Caper11]

Yep, when the price per barrel goes up, the prices at the pump, like Polaris sleds, instantaneously lift. But when the price per barrel goes down..........crickets. Wtf?

Don’t forget about the taxes oil companies have nothing to do with.

I think its the station retailers gouging.

Gas In Whitecourt has always been cheaper than edson the past while. But .20c cheaper is BS. Grand Prairie is below a dollar as well, whats the excuse???? Trucking lmao.

 

[catalac]

Here’s an idea... halt all imports from Saudi build a pipe and use Canadian oil. Our politicians are beyond ignorant.

 

[ferniesnow]

Here’s an idea... halt all imports from Saudi build a pipe and use Canadian oil. Our politicians are beyond ignorant.

That has been around for awhile now but Trudeau and his buddies in the Maritimes would take a big hit with their personal investments that revolve around Saudi oil imports.