CKUA

[johnlw]

Rocky
...As part of its presentation, Canadian Natural addressed the challenges facing the industry: high costs, low prices and the growing impact of liquefied natural gas....
So who was to blame for the sky high drilling and service costs?
Who is to blame for 6 upgraders on the books and a million or two acres of oil sands being developed?
So who didn't see the flood of LNG coming to North America?
So who is to blame for over drilling and over capacity and unable to keep a constant supply of a commodity?
The oil companies Red. Now they are putting spin on it.
They don't have a clue what is happening 6 months out any more than you or I. It is all reactive short sighted knee jerk hokum. I have sat in enough corporate presentations to know that.
Why is private money moving in and buying land and small jrs?

Be interesting to see what a 3 week cold snap on the eastern seaboard does.
$95 oil and $5 NG...for how long? I thought the sands and upgraders were going to use the equivalent of the McKenzie p/l production. This is going to come from Trinidad now? OK-right.
Somebody is not telling the truth here or they don't know wtf they are doing.

Why give these guys the money to waste somewhere? They are worse stewards of it than the politicians. Keep it in the province via the gov't/increased royalty rates.
The hydrocarbons aren't going anywhere.

Let's see what these budgets look like in two years.