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Thread: Saudi Arabia and OPEC are doomed.

  1. #931
    The US oil and gas rig count increased by double digits this week, according to Baker Hughes, reaching 813 rigs after increasing by 14 for the week, according to Baker Hughes.
    For oil rigs, this week saw an increase of 18 rigs—the first double-digit growth since the beginning of April, according to Baker Hughes data.

    More at: https://oilprice.com/Energy/Energy-G...-8-Months.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

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  3. #932
    Oil freight rates from the US Gulf Coast for Aframax crude tankers hit a new record this week, according to shipbrokers cited by Reuters, as demand increases for US crude oil bound for Europe and the Mediterranean in front of the new IMO 2020 rules that will go into effect in just a couple of weeks.
    Last week, the worldscale rate for an Aframax tanker was $46,800 per day. But Equinor and Unipec have chartered Aframax tankers this week for $60,700 per day—a near 30% increase in just one short week.
    That cost is spread out over the 700,000ish barrels of oil that an Aframax tanker holds.
    Europe’s appetite for light, sweet crude oil has increased over the last couple of weeks, as new maritime rules—known as IMO 2020—will cap the amount of sulfur allowed in fuel burned by maritime vessels. This spike in demand is limiting the number of Aframax tankers available, and as such, is increasing the costs to ship the IMO 2020-compliant oil. According to analysts and shipbrokers who spoke to Reuters, this demand could increase US oil exports to 4 million barrels per day, in what would be a new high for the US.
    US exports of crude oil has increased from an average of 2.065 million bpd at the start of the year, 3.633 million bpd now, according to the Energy Information Administration (EIA).



    More at: https://oilprice.com/Latest-Energy-N...and-Booms.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  4. #933
    Saudi Arabia, the world's biggest oil exporter, may cut the prices of its light crude grades sold to Asia in February on signs of slowing demand ahead of the region's peak refinery maintenance season, six trade sources said on Monday.The official selling price (OSP) of flagship Arab Light crude in February could fall by 20-30 cents a barrel, four of six respondents in a Reuters survey said. State oil company Saudi Aramco raised the Arab Light OSP to the highest in six years in January, the fourth month of increases.
    Aramco may cut the OSP as the price structure for Middle East crude benchmark Dubai indicated falling crude demand in February as cargoes loading that month are likely to arrive when Asian refineries begin shutting for maintenance in March, the sources said.
    The average backwardation between the first and third month cash Dubai price so far this month narrowed by 15 cents from the previous month, Reuters data showed. In a backwardated market prompt prices are higher than those in future months.
    The OSPs are also likely to drop as the gross product worth, which measures the value of a crude in terms of the fuels it yields after refining, for Saudi oil grades are lower than last month because of falling refining margins, one of the respondents said.
    "Refining margins are under pressure," he said.
    Arab Extra Light may see a bigger price cut in February after naphtha cracks weakened this month, the sources said.
    However, firm demand for January-loading cargoes and rebounding fuel oil margins will support the OSPs for heavier Saudi oil, they said.
    Most of the survey respondents expect the February OSP for Arab Medium to remain unchanged or drop slightly while the view was split between an expected price hike and price cut for Arab Heavy.

    More at: https://finance.yahoo.com/news/saudi...071429637.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  5. #934
    Saudi Arabia's economy contracted by 0.46% in the third quarter from a year earlier, hit by a drop in oil output as the de facto leader of the Organisation of Petroleum Exporting Countries (OPEC) cut production, government data showed on Tuesday.Oil sector output declined 6.43%, but non-oil output grew 4.33%, led by private sector activity, the data from the top world crude exporter's General Authority of Statistics said.
    On a seasonally adjusted basis, the economy contracted by 0.19% in the third quarter on a quarterly basis.
    The data came after the Saudi government in its budget cut its forecast for economic growth to 0.4% in 2019 from 0.9%, with growth hit by lower oil prices and crude production cuts agreed by OPEC nations and producers outside the exporting group.
    OPEC and its allies have further agreed to deepen crude output cuts by 500,000 barrels per day until March 2020, which could weigh on the Saudi economic recovery in early 2020.
    The government expects real GDP growth at 2.3% in 2020.
    Mining and quarrying, which accounts for 38.2% of GDP, saw the biggest decline, 6.39%, fuelled by a 6.52% drop in crude petroleum and natural gas output, the data showed.
    Petroleum and refining dropped 6.11%, leading to a 2.4% decline in manufacturing output. Manufacturing accounts for 12% of GDP on a constant basis.

    More at: https://finance.yahoo.com/news/saudi...115439643.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  6. #935
    OPEC’s crude oil production further declined in December as the cartel’s leader Saudi Arabia continued to lead by example cutting much more than required and as the biggest laggards in compliance—Iraq and Nigeria—moved to better comply with their quotas, the monthly Reuters survey showed on Monday.
    According to the survey of OPEC and oil companies sources, and ship-tracking data, OPEC’s production in December 2019 dropped by 50,000 barrels per day (bpd) compared to November and stood at 29.5 million bpd.


    In November, OPEC’s crude oil production declined by 193,000 bpd from October, as Saudi Arabia cut production ahead of the OPEC+ meeting, Iraq tried to fall in line with its quota, and Iran further suffered from the U.S. sanctions, according to OPEC’s official figures.
    In December, Saudi Arabia continued to reduce production, while OPEC and its Russia-led allies agreed to deepen the cuts in the first quarter of 2020 to prevent another glut on the market when demand is typically lower.
    The Saudis reduced their crude oil production by another 50,000 bpd in December, taking the Kingdom’s over-compliance to more than 500,000 bpd compared to its quota in the deal, according to the Reuters survey.
    Iraq—OPEC’s number two in terms of production and number one in terms of cheating with production quotas—also reduced its production by 50,000 bpd. Although this wasn’t enough to reach full compliance, Iraq was complying at 59 percent with its quota last month, up from meager 23-percent compliance in November, the survey found.

    Nigeria saw its production drop by 80,000 bpd, nearing its quota, because of reduced exports of Bonga crude, traders told Reuters.

    More at: https://oilprice.com/Energy/Energy-G...To-Comply.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  7. #936
    Saudi Arabia’s economy is expected to grow by 1.9 percent this year, the International Monetary Fund (IMF) said on Monday, revising down its forecast of 2.2-percent growth from just three months ago, due to expected lower Saudi oil production as the Kingdom has pledged to overcomply with the OPEC+ oil production cuts.

    In the October forecasts, the IMF had expected Saudi Arabia’s real GDP growth to pick up to 2.2 percent in 2020, after sluggish 0.2 percent growth in 2019. Back then, the IMF said that Saudi Arabia would need oil prices at US$86.50 in 2019 and US$83.60 in 2020 in order to balance its budget.
    “The downgrade for 2020 mostly reflects a downward revision to Saudi Arabia’s projection on expected weaker oil output growth following the OPEC+ decision in December to extend supply cuts,” the IMF said today.

    More at: https://oilprice.com/Latest-Energy-N...-Oil-Cuts.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  9. #937
    Oil production in the seven most prolific shale plays in the United States is set to increase by 22,000 bpd in February to 9.2 million bpd, the Energy Information Administration said in the latest edition of its monthly Drilling Productivity Report.
    Production in set to decrease in the Anadarko, Eagle Ford, and Niobrara regions by a combined 28,000 bpd next month, but are more than offset by increases in the Permian and Bakken plays, which together should add 50,000 bpd in February, according to the EIA.

    More at: https://oilprice.com/Latest-Energy-N...ext-Month.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  10. #938
    Saudi Arabia will use part of the money raised through Aramco’s initial public offering to strengthen its defense capabilities, Saudi Finance Minister Mohammed al-Jadaan told Reuters in an interview at the World Economic Forum in Davos.

    More at: https://oilprice.com/Latest-Energy-N...-Projects.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  11. #939
    The American Petroleum Institute (API) estimated on Wednesday a surprise crude oil inventory build of 1.57 million barrels for the week ending January 17, compared to analyst expectations of a 1.009-million-barrel draw in inventory.
    Last week saw a build in crude oil inventories of 1.1 million barrels, according to API data. The EIA’s estimates, however, were of a draw of 2.5 million barrels for that week.


    The API this week also reported another large build of 4.5 million barrels of gasoline for week ending January 17, after last week’s large 3.2-million-barrel build. This week’s large gasoline build compares to analyst expectations of a 3.090-million barrel-build for the week.
    Distillate, too, saw inventories increase, by 3.5 million barrels for the week, adding onto last week’s large 6.8-million-barrel build, while Cushing inventories fell by 429,000 barrels.
    US crude oil production as estimated by the Energy Information Administration showed that production for the week ending January 10 increased to 13.0 million bpd, a record high for the United States.

    More at: https://oilprice.com/Latest-Energy-N...ventories.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  12. #940
    Brazil produced more than 1 billion barrels last year, the first time it has breached the 1-billion-barrel mark, Reuters reports, citing the country’s oil regulator, ANP.
    The daily average stood at 3.106 million bpd, up 7.78 percent on 2018, ANP also said.
    More than half of the total oil production Brazil recorded in 2019 came from the prolific presalt zone off its coast. The contribution of the presalt zone stood at 633.98 million barrels, which was an annual improvement of 21.56 percent.
    Brazil’s crude oil production topped 3 million barrels per day for the first time ever in November 2019, the ANP reported lat month, adding that total oil and gas production rose to 3.95 million barrels of oil equivalent daily - also a record-breaking figure.

    More at: https://oilprice.com/Latest-Energy-N...on-Record.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  13. #941
    Saudi Basic Industries Corp (SABIC) expects a slowdown in demand in 2020, CEO Yousef al-Benyan said on Wednesday, after the world's fourth-biggest petrochemicals maker reported a fourth-quarter loss.SABIC's first quarterly loss in more than a decade, sparked by lower average selling prices and a writedown at an affiliate, sent its shares down 2% to 86.90 riyals in early trade.
    SABIC fell to a net loss of 720 million riyals ($192 million) from a profit of 3.22 billion a year earlier.
    The CEO said a slowdown in economic growth, particularly in China and Europe, had weighed on the petrochemicals industry.
    "At the same time, there is additional capacity coming to the market, specifically from the U.S. and China," he said.
    "This has really put pressure on product margins and slowed demand in certain markets, therefore we have seen a slowdown in the second half of 2019 and we anticipate that the market will be more or less the same in 2020."
    Benyan said it was too early to assess the impact of the outbreak of the coronavirus in China.
    "We have already seen an extension on Chinese holidays, this by itself creates some impact and hopefully by the end of next week we'll have much better clarity, but I assume that as soon as this is over, demand will go back."
    Yousef Husseini, an analyst at EFG Hermes, said: "In my view, first quarter 2020 is likely to be equally, if not more challenging than the fourth quarter from an operational perspective."

    More at: https://finance.yahoo.com/news/sabic...071526990.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  14. #942
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  15. #943
    The December lease sale in Alaska by the Bureau of Land Management was hailed as the most successful in as many as 13 years. The sale attracted bids worth a total $11 million and covering more than a quarter of the acreage on offer. That compared with just $1.5 million in bids under the December 2018 lease sale, with just 6 percent of the acreage offered attracting bids.


    The vast oil reserves of Alaska are not a secret. But until recently, many of these resources were simply too expensive to exploit. Now, new tech is making these reserves recoverable—and Alaska’s future brighter.
    The U.S. Geological Survey earlier this month released an update of its resource estimate for the North Slope—Alaska’s oil heartland—estimating that the technically recoverable resources in the Central North Slope alone stood at 3.6 billion barrels of oil and 8.9 trillion cu ft of natural gas. These resources, the USGS said, did not include discoveries made between 2013 and 2017.
    The fact that discoveries are still being made in Alaska may come as a surprise if you have only been following the shale industry, which has indeed hogged the headline space in recent years. But oil companies are indeed discovering new oil and gas in Alaska. Between 2017 and 2019 alone, some 1.5 billion barrels of new oil was discovered in the state.
    One of the largest among these new discoveries was Willow. ConocoPhillips struck oil in the northeastern part of the Alaska National Petroleum Reserve in 2017. The field has resources of between 400 and 750 million barrels of oil equivalent. The federal government approved Conoco’s development plan for the Willow project last year, with average daily production at peak levels seen at 130,000 bpd, with the cumulative output over the project’s lifetime estimated at 590 million barrels.

    Another company, an Australian energy junior named XCD Energy, earlier this month said it had made an estimate of 1.6 billion barrels in resources at the Peregrine project, in the North Slope. That was up from an earlier resource estimate of 255 million barrels.
    A Renewed Frontier
    Oil companies operating in Alaska could spend up to $24 billion on new production in the state over the next ten years, S&P Global Platts reported early in January. Much of this investment, the report noted, would go towards maintaining current production levels of around half a million barrels daily. New fields are coming on stream to replace depleted ones. Yet, under the right price environment, production could grow from the current level as well—and substantially.

    More at: https://oilprice.com/Energy/Crude-Oi...-Oil-Boom.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  16. #944
    From an unpredictable monetary policy to its noisy domestic politics, Kuwait is often the odd one out in the Gulf.It boasts the region’s first female finance minister and, uniquely for a Gulf monarchy, has an elected legislature. But acrimony between lawmakers and the appointed government has resulted in eight administrations in as many years, and the fallout on fiscal policy is becoming harder to contain.
    Unlike most of its neighbors, OPEC’s fourth-largest producer has failed to introduce taxes after taking a hit from lower oil prices since 2014, earning the moniker of the “slowest reformer” among Gulf Arab economies from Fitch Ratings. For the year starting April 1, AA rated Kuwait expects to run its biggest-ever budget deficit on anticipation of a decline in oil income and output.
    The government’s financing needs “are projected to grow rapidly,” the International Monetary Fund warned last week.


    The collateral damage also includes the government’s ability to borrow, which it lost after issuing debut Eurobonds in 2017 because the country’s public-debt law lapsed the same year. The main option for covering the budget deficit is to draw down the holdings of the smaller of the country’s two wealth funds that could be fully depleted next fiscal year.
    Finance Minister Mariam Al-Aqeel has said the government “will fight for getting this law approved.”
    Lawmakers have resisted efforts by the government to reclaim access to debt, accusing it of mismanaging public finances and demanding a fix before it can borrow again.


    “Unless it’s under real pressure, there will be no reform to fiscal policy,” said Jassim Al-Saadoun, head of Kuwait-based Al-Shall Economic Consultants. “They have to convince people they will use it wisely, and they have failed to do so.”
    On track for its sixth straight fiscal shortfall and lacking a new debt law, the government has relied on the General Reserve Fund, managed by the Kuwait Investment Authority, the world’s oldest sovereign wealth fund. Tapping the KIA’s much larger Future Generations Fund, designed as a buffer for the time when Kuwait’s oil runs out, would require a legislative change.
    Kuwait doesn’t publicly disclose the size of its wealth fund holdings.
    “The urgency to update the debt law is growing,” said Maya Senussi, senior economist at Oxford Economics. “The problem with the outdated debt law is that in the current dynamics of low-trending oil prices, Kuwait will continue to run deficits, maintaining pressure on GRF resources, which are of course finite.”
    Parliamentary elections later this year will likely sideline discussions of reform and put off approval of the law, which Fitch now expects to be delayed until the 2020-2021 fiscal year.
    The dearth of sovereign debt has also been a complication for Kuwaiti banks. To comply with local liquidity rules, lenders need to invest 18% of dinar customer deposits in instruments issued by central bank or the government.
    ‘Difficult Situation’
    “Yet, due to the lack of sovereign issuance, banks find themselves in a difficult situation, racing for limited Central Bank of Kuwait bonds or keeping part of their dinar deposit in cash or placed with the central bank at low returns,” said Bloomberg Intelligence analyst Edmond Christou.
    Talk of an economic revamp, by means of taxing people or cutting subsidies, is currently the most contentious issue in parliament. Lawmakers have vowed to grill Al-Aqeel over any reference to such measures, insisting Kuwaitis must never bear the brunt of any fiscal reform.
    Meanwhile, GRF’s readily available assets might dry up by the end of next March, according to Moody’s Investors Service.
    While there have been no reforms on the revenue side, the government has tried to cut wasteful spending. By continuing to keep expenditure in check, Kuwait may be able to avoid withdrawing money from the Treasury next year, according to Al-Aqeel. Still, the legislation is a priority since “the cost of borrowing is less than the cost of withdrawing from the reserves,” the finance minister said at a briefing this month in response to a question from Bloomberg.


    The paradox is that despite the strain on Kuwait’s finances, its wealth still sets it apart. Boosted annually by mandatory transfers of 10% of total revenue, assets in the KIA amount to over $400 billion, according to the IMF, while Kuwait’s proven oil reserves could last around a century at the current rate of production.
    Kuwait has two Eurobonds outstanding. Its $4.5 billion of notes maturing in March 2027 have rallied in the past year, sending the yield down 1.3 percentage points in that period to 2.2%, below Saudi bonds of similar maturity.
    S&P Global Ratings estimates that at 420% of gross domestic product, the government’s net general asset position was the highest of all rated sovereigns at the end of 2019. Kuwait is ranked at the third-highest investment grade level by the three major credit assessors.

    More at: https://news.yahoo.com/borrowing-out...160000577.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  18. #945
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  19. #946
    After years of battle the approvals have come through. Trans Mountain is full speed ahead, pipe going in ground
    Enbridge line 3 also has go ahead
    Keystone XL got some good news as well.
    I've read many articles here discussing setbacks and often stating that it was doubtful these pipelines would ever go ahead. Now they are going ahead and there hasn't been a single news article about that on Oilprice?
    These are big pipelines connected to the largest energy reserves in North America, by far. Canada has the third largest oil reserves on the planet. Saudi Arabia is second, Venezuela is first. Canada currently ships about 4.4 mmbbls oil per day to the US,last I checked.


    Glen
    Some info on the pipelines. Most of this happened this week.
    https://www.google.com/amp/s/busines...adequate-2/amp

    https://www.google.com/amp/s/busines...-of-appeal/amp
    https://www.google.com/amp/s/busines...on-project/amp
    https://www.google.com/amp/s/amp.det...amp/4602081002


    More at: https://community.oilprice.com/topic...getting-built/
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

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