#bitumen bubble

[mayo615]

Iraq About To Flood Oil Market: More Grief Ahead For Canada

Iraq About To Flood Oil Market: More Grief Ahead For Canada

Underscoring Goldman Sachs forecast last week of oil prices at or below $50 per bbl until at least 2020, Bloomberg News is today reporting that Iraq is preparing to unleash a flood of new oil within the next few months.  This is very bad news for the price of Western Canadian Select bitumen, and Alberta oil sands producers.  Saudi Arabia’s strategy, together with OPEC, to squeeze high-cost oil…

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[mayo615]

Plummeting Oil Prices Set To Continue As Canada Cringes

Plummeting Oil Prices Set To Continue As Canada Cringes

    Regrettably, this week’s event in the oil market, provide further evidence of the dire consequences ahead for the Canadian oil economy.  Oil industry bulls who have been betting on a quick rebound in oil prices are likely to get severely burned, and the prospects for the local tourism based economy are only worsening.

In the same week that local gasoline prices mysteriously spiked up nine…

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[mayo615]

Norway Sovereign Wealth Fund Drops Coal and Tar Sands Investments

Norway Sovereign Wealth Fund Drops Coal and Tar Sands Investments

World’s biggest sovereign wealth fund dumps dozens of coal companies Norway’s giant fund removes investments made risky by climate change and other environmental concerns, including coal, oil sands, cement and gold mining

The world’s richest sovereign wealth fund removed 32 coal mining companies from its portfolio in 2014, citing the risk they face from regulatory action on climate change.

Norwa…

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[maybeedmonton]

"Alberta's planning its budget for 2013-2014, with the goal of reducing our deficit. Difficult decisions have to be made - what choices would you make?"

The Government of Alberta is offering the public a chance to weigh in on impending cuts to the provincial budget in the wake of Alberta's current deficit crisis.

"Alberta Advantage" indeed.

[journey2life]

Premier's Address to Albertans & Notes

Premier Redford calls Albertans her "family."  Brief Outline: 1) Alberta's Bitumen Bubble 2) $6B lost due to lower oil prices compared to Texas oil (in 1 year) 3) 95,000 new Albertans last year alone (that's the size of Red Deer) 4) Looking to sell oil within Canada and overseas to Asia (*cough* China)  5) Increase in Alberta's Heritage Fund (http://www.finance.alberta.ca/business/ahstf/index.html) 6) Alberta Economic Summit coming in next few weeks Minus the interesting video editing, a good 8 min message from the leader of your Canadian oil house :) I encourage you to watch it and share with others.