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03-01-2022, 11:47 AM
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Join Date: Jan 2008
Location: Calgary Perchdance
Posts: 18,961
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Quote:
Originally Posted by MooseRiverTrapper
Another great day for Canadian oil and gas.
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Cenovus was up then fell lower
News countries are releasing strategic reserves.
In context the TV expert said if the US released 100% of their strategic oil reserves this would be 1/2 a days world oil usage.
As they can’t draw it down immediately… takes time to pump out of underground chambers… I’m wondering if the hit to oil stocks will reverse later this week.
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It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself. Charles Darwin
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03-01-2022, 12:14 PM
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Join Date: Jul 2007
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The notion of significant idle production capacity is fiction at best, anyone who has it, turned it on a while ago, the infrastructure for new oil takes year to develop, perhaps forever if it's deemed dirty. I don't see WTI pulling back meaningfully in the near term, it might dip in the 90s but I doubt lower.
But if only there were some way to get the required oil to market...perhaps some long line of pipes, perhaps buried from sight, silently taking oil to where it's needed. We really need to consult Mr Suzuki or the Mayor of Montreal or Greta herself on the best way to move this dirty, future stealing energy.
Haven't heard much from the enviro guys lately, guess it's hard to talk with your foot in your mouth
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03-01-2022, 05:59 PM
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Join Date: Jun 2011
Posts: 3,713
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Quote:
Originally Posted by Sundancefisher
Cenovus was up then fell lower
News countries are releasing strategic reserves.
In context the TV expert said if the US released 100% of their strategic oil reserves this would be 1/2 a days world oil usage.
As they can’t draw it down immediately… takes time to pump out of underground chambers… I’m wondering if the hit to oil stocks will reverse later this week.
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The TV expert must be mistaken or you heard it wrong. More like the US share of this release is about 1/2 day of world consumption.
These releases are hugely bullish for the price of oil.
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There are some who can live without wild things, and some who cannot. Aldo Leopold
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03-01-2022, 06:30 PM
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Join Date: Jan 2008
Location: Calgary Perchdance
Posts: 18,961
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Quote:
Originally Posted by bdub
The TV expert must be mistaken or you heard it wrong. More like the US share of this release is about 1/2 day of world consumption.
These releases are hugely bullish for the price of oil.
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Maybe I explained it wrong.
The total US strategic reserves is about 1/2 of a day’s world supply. They can’t release it all at once. It needs to be pumped out.
US can pump 4.4 million barrels per day for 90 days… then rates drop.
World uses around 100 million barrels a day.
US uses around 21 million barrels a day. Canada uses about 2.5 million barrels a day.
It would suggest the TV guy was wrong and the US has maybe a day to a day and a half world production. US may have enough oil for a couple weeks of their own domestic usage.
__________________
It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself. Charles Darwin
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03-01-2022, 06:37 PM
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Join Date: Jun 2011
Posts: 3,713
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Quote:
Originally Posted by Sundancefisher
Maybe I explained it wrong.
The total US strategic reserves is about 1/2 of a day’s world supply. They can’t release it all at once. It needs to be pumped out.
US can pump 4.4 million barrels per day for 90 days… then rates drop.
World uses around 100 million barrels a day.
US uses around 21 million barrels a day. Canada uses about 2.5 million barrels a day.
It would suggest the TV guy was wrong and the US has maybe a day to a day and a half world production. US may have enough oil for a couple weeks of their own domestic usage.
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This part is incorrect. The US SPR is more than 1/2 days world oil consumption.
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There are some who can live without wild things, and some who cannot. Aldo Leopold
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03-01-2022, 06:42 PM
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Join Date: Jun 2011
Posts: 3,713
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Quote:
Originally Posted by bdub
The TV expert must be mistaken or you heard it wrong. More like the US share of this release is about 1/2 day of world consumption.
These releases are hugely bullish for the price of oil.
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They’re releasing 60 million bbls. US releasing 30 of it I guess. I thought they were releasing 50 again.
https://www.usnews.com/news/business...ts?context=amp
This was Novembers release of oil. Bidens crapping his pants.
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There are some who can live without wild things, and some who cannot. Aldo Leopold
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03-01-2022, 07:04 PM
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Join Date: Jul 2014
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I think what you guys are getting at is that the next SPR release will be around half a day of global consumption.
USA SPR sitting around 580mbbls it is suppose to hold 90 days to cover that would exclude exports. It’s sitting a 6.45M/day over 90 days.
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03-01-2022, 07:07 PM
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Join Date: Jul 2014
Posts: 1,910
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Quote:
Originally Posted by Sundancefisher
Cenovus was up then fell lower
News countries are releasing strategic reserves.
In context the TV expert said if the US released 100% of their strategic oil reserves this would be 1/2 a days world oil usage.
As they can’t draw it down immediately… takes time to pump out of underground chambers… I’m wondering if the hit to oil stocks will reverse later this week.
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Cenovus had a big miss on earnings report last week. It will lag the rest for awhile.
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03-01-2022, 09:15 PM
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Join Date: Aug 2013
Posts: 986
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Quote:
Originally Posted by MooseRiverTrapper
Cenovus had a big miss on earnings report last week. It will lag the rest for awhile.
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Cenovus lag is largely due to Conoco Phillips dumping its Cenovus shares
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03-01-2022, 09:42 PM
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Join Date: Sep 2007
Location: Strathcona County
Posts: 1,900
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I don't follow Cenovus but their data looks odd.
Maybe there is something I am missing at first glance.
Their P/E is way too high and they pay a nothingburger dividend.
Unless they can see a way to quadruple their profits I would not be a buyer.
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03-01-2022, 10:23 PM
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Join Date: Jul 2014
Posts: 1,910
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Quote:
Originally Posted by flyrodfisher
Cenovus lag is largely due to Conoco Phillips dumping its Cenovus shares
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I heard conoco was done selling in January.
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03-01-2022, 10:51 PM
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Join Date: Aug 2013
Posts: 986
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Quote:
Originally Posted by MooseRiverTrapper
I heard conoco was done selling in January.
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As of year end 2021 they still held 90 million shares which they plan to dispose of by end Q1/22
https://seekingalpha.com/article/448...d-ignore-noise
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03-02-2022, 09:11 AM
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Join Date: Feb 2012
Location: Edmonton (shudder)
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With the run on oil lately why has the CDN dollar basically sat stagnant? Usually, when oil runs up, so too does our “Petro-dollar”. Is our sector that much smaller? Or when the oil price retreats will our dollar retreat to 65 cents? What do you experts say. I need to buy some USD and have been holding off waiting for a jump from oil prices and it’s not coming.
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03-02-2022, 09:14 AM
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Join Date: Dec 2008
Location: Near Edmonton
Posts: 15,203
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Quote:
Originally Posted by HyperMOA
With the run on oil lately why has the CDN dollar basically sat stagnant? Usually, when oil runs up, so too does our “Petro-dollar”. Is our sector that much smaller? Or when the oil price retreats will our dollar retreat to 65 cents? What do you experts say. I need to buy some USD and have been holding off waiting for a jump from oil prices and it’s not coming.
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Money is running into the U.S. dollar as the "Safe" haven. That is offsetting the effect increasing oil prices should be having on the Canadian dollar. Depending on how long the problem remains with Russia will greatly influence the effect. I don't see the Russian issue going away any time soon.
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03-02-2022, 09:18 AM
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Join Date: Feb 2012
Location: Edmonton (shudder)
Posts: 4,655
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Quote:
Originally Posted by Dean2
Money is running into the U.S. dollar as the "Safe" haven. That is offsetting the effect increasing oil prices should be having on the Canadian dollar. Depending on how long the problem remains with Russia will greatly influence the effect. I don't see the Russian issue going away any time soon.
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That makes sense, gold and silver have been slowly trending up too, never considered the fact that the USD was a safe-haven. Makes sense. Thanks. Maybe I should bite the bullet and buy before we run out of oil momentum.
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03-02-2022, 09:25 AM
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Join Date: Jan 2008
Location: Calgary Perchdance
Posts: 18,961
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Quote:
Originally Posted by bdub
This part is incorrect. The US SPR is more than 1/2 days world oil consumption.
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That’s what I said in the quote you used.
I put down the numbers off the internet and clearly stated it looked the the TV guy was wrong.
__________________
It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself. Charles Darwin
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03-02-2022, 09:27 AM
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Join Date: Jan 2008
Location: Calgary Perchdance
Posts: 18,961
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Quote:
Originally Posted by MooseRiverTrapper
Cenovus had a big miss on earnings report last week. It will lag the rest for awhile.
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That could be it however it was a paper loss via a write down and not actual loss. Profits are looking good.
__________________
It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself. Charles Darwin
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03-02-2022, 09:28 AM
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Join Date: Jan 2008
Location: Calgary Perchdance
Posts: 18,961
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Quote:
Originally Posted by flyrodfisher
Cenovus lag is largely due to Conoco Phillips dumping its Cenovus shares
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Ahh. That makes more sense. How much are they selling and have left to sell?
__________________
It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself. Charles Darwin
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03-02-2022, 09:40 AM
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Join Date: Dec 2008
Location: Near Edmonton
Posts: 15,203
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Quote:
Originally Posted by HyperMOA
That makes sense, gold and silver have been slowly trending up too, never considered the fact that the USD was a safe-haven. Makes sense. Thanks. Maybe I should bite the bullet and buy before we run out of oil momentum.
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Canada should actually be a place where money is flowing into heavily in these times of uncertainty. Being a net exporter of energy this should be a great safe heaven too. Problem is, the retard that is our Prime Minister pretty much screwed that up by declaring the war measures act for one week to deal with a peaceful protest, and worse yet, arbitrarily froze a whole bunch of bank accounts with ZERO proof or court backing. Nothing puts the run on foreign investment like the fear of the government grabbing your dollars with no due process of any kind. Even Canadian residents are fleeing the big banks and moving their cash to Provincially regulated places like credit unions, ATB etc.
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03-02-2022, 10:49 AM
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Join Date: Jul 2007
Posts: 1,081
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Gotta Call you out
Dean, as much as I love ya, I gotta call you out...calling our PM a retard is very offensive to retarded folks. Perhaps you should use terms like dork, imbecile or cretin, all equally applicable.
Pretty much everything else is OK though.
A wise man from Saskatchewan (yes, they found one) once said we should be proud of our resource sector, not embarrassed by it. I wish that guy woulda run for PM
Zeke
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03-02-2022, 10:51 AM
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Join Date: May 2010
Location: edmonton
Posts: 3,870
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Rate up 0.25%
In other news Russia shut down their stock exchange for the 3rd day to prevent selling . 
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03-02-2022, 12:09 PM
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Join Date: Aug 2013
Posts: 986
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Quote:
Originally Posted by Sundancefisher
Ahh. That makes more sense. How much are they selling and have left to sell?
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See my link above...
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03-02-2022, 12:33 PM
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Join Date: Dec 2008
Location: Near Edmonton
Posts: 15,203
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Quote:
Originally Posted by big zeke
Dean, as much as I love ya, I gotta call you out...calling our PM a retard is very offensive to retarded folks. Perhaps you should use terms like dork, imbecile or cretin, all equally applicable.
Zeke
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Bahaha Anything I compare Trudeau to is bound to be offended by it. Retard was the only thing I could think of that is no longer in common use. 
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03-02-2022, 03:03 PM
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Join Date: Jun 2010
Location: Edmonton
Posts: 1,229
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Even Canadian residents are fleeing the big banks and moving their cash to Provincially regulated places like credit unions, ATB etc.[/QUOTE]
These are my upcoming plans as well, and it has nothing to do with the potential freezing of accounts. The level of service from the big 5 has been spiralling downhill for years now, their service fees are continually going up with no improvement in service, and the the knowledge of their "financial planners" has been less than stellar for quite some time.
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03-02-2022, 03:33 PM
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Moderator
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Join Date: Jul 2008
Location: A bit North o' Center...
Posts: 11,238
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Quote:
Originally Posted by Dean2
Even Canadian residents are fleeing the big banks and moving their cash to Provincially regulated places like credit unions, ATB etc.
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Interesting!
I recently spoke with a person who moved their money out as well over the past few weeks.
Based on that conversation, it appears that the flight from Canadian banks - and the people just cashing out - was more significant than I had originally thought.
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03-02-2022, 04:21 PM
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Join Date: May 2007
Location: Red Deer
Posts: 1,539
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Quote:
Originally Posted by HVA7mm
Even Canadian residents are fleeing the big banks and moving their cash to Provincially regulated places like credit unions, ATB etc.
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These are my upcoming plans as well, and it has nothing to do with the potential freezing of accounts. The level of service from the big 5 has been spiralling downhill for years now, their service fees are continually going up with no improvement in service, and the the knowledge of their "financial planners" has been less than stellar for quite some time.[/QUOTE]
Very true about declining service. But the big banks encryption and stock services are the best. Smaller banks are still in the Stone Age.
If you find a good one, let us know.
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03-02-2022, 04:42 PM
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Join Date: Feb 2012
Location: Edmonton (shudder)
Posts: 4,655
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Quote:
Originally Posted by Map Maker
Very true about declining service. But the big banks encryption and stock services are the best. Smaller banks are still in the Stone Age.
If you find a good one, let us know.
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My mutual fund at ATB has outperformed all the big 5 for likely a better part of a decade. I haven’t compared the last two or three years but judging from our savings Royal bank (my wife’s savings) may have outperformed ATB by a quarter percent or so this last year.
ATB investor connect has been the sole reason I continue banking at ATB. They have done quite well for me.
Compass growth fund
Or compass maximum growth fund. I can’t recall which it is.
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03-02-2022, 05:18 PM
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Join Date: Sep 2007
Location: Strathcona County
Posts: 1,900
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Quote:
Originally Posted by Dean2
Canada should actually be a place where money is flowing into heavily in these times of uncertainty. Being a net exporter of energy this should be a great safe heaven too. Problem is, the retard that is our Prime Minister pretty much screwed that up by declaring the war measures act for one week to deal with a peaceful protest, and worse yet, arbitrarily froze a whole bunch of bank accounts with ZERO proof or court backing. Nothing puts the run on foreign investment like the fear of the government grabbing your dollars with no due process of any kind. Even Canadian residents are fleeing the big banks and moving their cash to Provincially regulated places like credit unions, ATB etc.
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Well, the big banks and their CEO's and Board of Directors are complicit in that as well. I don't put all the blame on the Federal fascists.
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03-02-2022, 08:25 PM
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Join Date: Aug 2009
Location: Langdon, AB
Posts: 507
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Quote:
Originally Posted by Map Maker
These are my upcoming plans as well, and it has nothing to do with the potential freezing of accounts. The level of service from the big 5 has been spiralling downhill for years now, their service fees are continually going up with no improvement in service, and the the knowledge of their "financial planners" has been less than stellar for quite some time.
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Very true about declining service. But the big banks encryption and stock services are the best. Smaller banks are still in the Stone Age.
If you find a good one, let us know.[/QUOTE]
My wife and I moved our emergency fund out of TD and into EQ Bank. It’s been great for us and it earns 1.25% interest which is way better than any of the big banks. Mind you I don’t believe they have much for investment services but it’s a good place to store some cash.
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Instagram: @albertahuntingcrew
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03-03-2022, 08:04 AM
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Join Date: Feb 2012
Location: Blackfalds
Posts: 6,965
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Anyone planning on buying RSX once this Ukraine ordeal is over?
Might be a long hold but could pay off.
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Trudeau and Biden sit to pee
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