Kinder Morgan protestors

[blue iguana]

Think the Permian Basin has pipeline problems? Take a look at Canada
https://www.dallasnews.com/business/ene ... ook-canada
<snip>
But those Permian problems pale in comparison to what's facing Canadian producers, some of whom are selling their oil at a two-thirds discount to the U.S. prices. 
<snip>
But, the price spread in Canada has spun out of control.

Tom Kloza, global head of energy analysis at the Oil Price Information Service, pointed out on Twitter that Canadian oil futures were trading at $28 a barrel this week, compared to $75 for the U.S. benchmark. 
<snip>
In his tweet about the prices, Kloza felt it necessary to point out that the Western Canada Select number was "NOT a misprint!"

Tom Kloza
@TomKloza

These closing prices from yesterday seem relevant:
WTI Futures - $75.00 bbl
WTI Midland- $67.00 bbl
WTI Houston- $82.80 bbl
LLS-St. James $83.80 bbl
ANS (PNW) - $84.75 bbl
Brent futures - $85.00 bbl
Canadian WCS $28.00 bbl (NOT a misprint!)
7:02 AM - Oct 10, 2018
<snip>
The more immediate solution is moving more oil by rail, which is a safety concern. A recent Washington Post story pointed to fears following a 2013 crash in Quebec that killed 47:

Environmentalists have sometimes described the rail option as a threat or "boogeyman" looming over the pipeline debate. But now the prediction appears to be coming true, as the volume of oil traveling by rail out of Canada — to the United States — has surged in the past few months as the country's latest pipeline project foundered.

While the Permian's pipeline capacity bottleneck continue to make headlines here, that region has a clearer way forward than Canada.

[Catsumi]

Seem to remember that we decided to form a bucket brigade to move oil to markets. What could go wrong? Think of all the new jobs.

[Drip_Torch]

These closing prices from yesterday seem relevant:
WTI Futures - $75.00 bbl
WTI Midland- $67.00 bbl
WTI Houston- $82.80 bbl
LLS-St. James $83.80 bbl
ANS (PNW) - $84.75 bbl
Brent futures - $85.00 bbl
Canadian WCS $28.00 bbl (NOT a misprint!)
7:02 AM - Oct 10, 2018
<snip>

Maybe to you, but to me it looks like you're comparing the 23.4/lb peanut farms get for peanuts, to the $4.99/lb wholesalers get for salted, no shell roasted.


Brent futures and WCS?

You're talking about two entirely different products.

[Jflem1983]

These closing prices from yesterday seem relevant:
WTI Futures - $75.00 bbl
WTI Midland- $67.00 bbl
WTI Houston- $82.80 bbl
LLS-St. James $83.80 bbl
ANS (PNW) - $84.75 bbl
Brent futures - $85.00 bbl
Canadian WCS $28.00 bbl (NOT a misprint!)
7:02 AM - Oct 10, 2018
<snip>

Maybe to you, but to me it looks like you're comparing the 23.4/lb peanut farms get for peanuts, to the $4.99/lb wholesalers get for salted, no shell roasted.


Brent futures and WCS?

You're talking about two entirely different products.

No wrong again. Drip

[nepal]

.

See live world oil prices at this web site:
.
https://oilprice.com/oil-price-charts Scroll down the web page to see the price chart, by country.
.
Yes, unwitting Canadaians get 1/2 the world price, which dramatically increases US demand and consumption of our super cheap oil. The way to save the planet, is to get Canadian oil to tide-water world pricing. Demand/Supply is a function of price. The higher the price, the less the demand. Economics 101. Get our oil to tide-water, to help save the planet.

Think of how many in US will downsize from big SUVs, if they have to pay world price for oil, rather than guzzling cheap oil from Canada.
.

[Drip_Torch]

Ugh huh... This price drop has nothing to with BP’s Whiting Refinery in Indiana being down for maintenance - eh?

Chinese refiners are buying more and more very cheap heavy Canadian crude oil to make up for the dwindling supply of Venezuela’s heavy grades as China’s road construction sector—a key consumer of the heavy oil’s bitumen yield—is booming.

https://oilprice.com/Latest-Energy-News ... ports.html

Huh, that's weird? What about the "Asian premium" and "world market pricing"... yada, yada, yada?


Ah, who cares... "TMX, TMX, TMX" (does a double back flip, showing the crowd his TMX panties under his TMX cheerleader skirt) In for 4.5 billion, in for a few 10's of billions more - that's what I always (never) say.

[Drip_Torch]

The future is so bright...

The coming marine shipping rules could double or even triple the discount on Canadian heavy, pushing it potentially much wider than the US$30 a barrel discount producers encountered earlier this year, Tallett said.

https://business.financialpost.com/comm ... de-in-2020

I don't even need shades.

("TMX, TMX, TMX")

Oh hey, look... the Calgary herald accidently put the bottom line near the bottom line.

As oil production continues to increase, the price discount will remain a headache in 2019. "There is not an immediate fix to this, unless some producers start suspending their production". We have put ourselves in such a difficult situation, to me it's staggering what we've done.

https://calgaryherald.com/business/ener ... s-billions

"Staggering" - really? That's the best word for this situation? I'd be tempted to find some kind of mod workaround and call the whole energy sector a bunch of frakin' idiots.

So much at stake and so many people talking when they should have been listening. Oh well, let's wave our TMX pom poms one more time...TMX, TMX,TMX...

[Drip_Torch]

No wrong again. Drip

The word "wrong" means something entirely different than what you think it means.

https://www.castanet.net/news/Business/ ... en-a-loser

I'm a *bleep* Canadian, how much can I pay you to take my oil?

https://www.castanet.net/news/BC/239078 ... gas-prices

I'm a *bleep* Canadian, my answer to getting hosed is to build a bigger hose.


TMX, TMX, TMX...

[Smurf]

You can pay a lot as long as you keep our oil land locked by killing the TMX. We are not actually paying but we are certainly discounting thanks to the "*bleep* Canadian('S)" that are delaying the TMX and our ability to get world market prices.

[Drip_Torch]

We are not actually paying but we are certainly discounting ...

Huh, that's news to me. I understood we were paying 4.5 billion for the 65 year old pipeline that's currently transporting all those barrels to tidewater that china is purchasing at (net) negative 0.28 usd. Seems to me we're both paying and discounting.

I realize, with that 4.5 billion we also got the expansion project that had its certificate revoked by the federal court of appeals. Are you saying the judges on federal court of appeals are *bleep* canadians? Or, do you still believe the pipeline expansion project was rendered kaput by tweets funded by offshore interests?

[nepal]

.
Oh well, just add a few thousand more rail oil-tankers along rivers leading to the Pacific, as the pipeline protestors seem to want.

[Drip_Torch]

Who knew?

It's like my great grand-daddy always used to say, "if it's worth doing, it's worth doing it right the first time."

Guess who figured out it wasn't worth doing.

[Drip_Torch]

I really suck at math, numbers aren't my thing, so I'm hoping the Castanet energy experts can help me out with this math problem I've encountered here.

With the shut down and turnaround at BP's Whiting refinery in East Chicago, Indiana, which currently buys about 250,000 barrels-per-day of heavy Crude (WCS), how much less space would there be in the pipeline system? Every time I try to do the math I come up with this really weird answer that suggests there would be 250,000 barrels-per-day more space in the pipeline system.

Weird eh, that defies all logic based on everything you guys are telling me. The price of WCS is currently tanking, to the point it's costing money to ship the stuff, and we all know that's because there isn't any room in the pipelines - obviously my math is off.

So, if BP isn't currently taking 250,000 barrels per day through the pipeline to Indiana, how much less space is in the pipeline today, compared to when BP was taking the 250,000 bpd?

Or, could it be they're filling the pipe with hot air and empty promises during the shut down?

https://www.theglobeandmail.com/busines ... il-prices/

Jeez, I sure hope they get this refinery back online soon. Right now Canadian Oil producers are missing out on losing at least $70,000 usd per day. You don't see that kind of business opportunity every day.

[Jflem1983]

I really suck at math, numbers aren't my thing, so I'm hoping the Castanet energy experts can help me out with this math problem I've encountered here.

With the shut down and turnaround at BP's Whiting refinery in East Chicago, Indiana, which currently buys about 250,000 barrels-per-day of heavy Crude (WCS), how much less space would there be in the pipeline system? Every time I try to do the math I come up with this really weird answer that suggests there would be 250,000 barrels-per-day more space in the pipeline system.

Weird eh, that defies all logic and everything you guys are telling me. The price of WCS is currently tanking to the point it's costing money to ship the stuff and we all know that's because there isn't any room in the pipelines - so obviously my math is off.

So, if BP isn't currently taking 250,000 barrels per day through the pipeline to Indiana, how much less space is in the pipeline today, compared to when BP was taking the 250,000 bpd?

Could it be they're filling the pipe with hot air and empty promises during the shut down?

https://www.theglobeandmail.com/busines ... il-prices/

So tired of your nonsense. Go back to Hollywood.

As for Canadian oil. It will be just fine . So long as we expel traitors . Anyone not supporting Canadian oil is scum. Shame on the parasites of Vancouver to be anti Canadian.

[Smurf]

Drip_Torch wrote:

Smurf wrote:
We are not actually paying but we are certainly discounting ...

Huh, that's news to me. I understood we were paying 4.5 billion for the 65 year old pipeline that's currently transporting all those barrels to tidewater that china is purchasing at (net) negative 0.28 usd. Seems to me we're both paying and discounting.

I realize, with that 4.5 billion we also got the expansion project that had its certificate revoked by the federal court of appeals. Are you saying the judges on federal court of appeals are *bleep* canadians? Or, do you still believe the pipeline expansion project was rendered kaput by tweets funded by offshore interests?

I have no idea why I keep conversing with people who are either absolutely naive or hopefully for their sake just pretending but every now and then when I'm bored I do. Hopefully you know as well as I do the government invested in a business that is now making and will continue to make us profit. So Do I believe it was right, no, it should have been handled much better in the first place. I do feel the court of appeals made a huge mistake, but that is my personal opinion.