Economy 52,861 Posted October 12, 2018 Share Posted October 12, 2018 https://www.bnnbloomberg.ca/canadian-crude-slumps-to-lowest-level-in-more-than-two-years-1.1151034 Canadian Oil has continued to collapse now at $20/barrel or about 1 quarter the international prices such as brent that's closer to $80 Production keeps rising as old projects come online but the pipelines environmental activists have successfully blocked prevent market access and force sellers to take what they can get. Canada's tough expensive new environmental standards on energy companies add further financial pressure The big winners are US refiners that buy Canadian Oil for pennies then sell refined products at full price Canada does not have much ability to adjust production to market conditions as projects take many years to set up in Oil Sands and then up to 50 years to deplete a field making Oil Sands the longest cycle oil investment on earth Link to post Share on other sites More sharing options...
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