As far as I know the Oil Sands projects are very cost sensitive. The process to refine the Canadian crude is a very extensive process and costly.
Oil sands projects require high costs of oil to justify their expense. Now that the oil price has collapsed, oil sands are pretty worthless. Companies don't look at "long term prospects for oil" - they have to justify their capital expenditures based on prevailing prices of the day. Capex is being cut worldwide on drilling projects, which will inevitably lead to another supply crunch.
You know, sir, that's one of the SMARTEST thing you've posted in the last couple of days. I'm just kidding. It's the RON smARTEST.
It's just not that simple. Oil sands oil is unique. A refinery set up to run oil sands oil can't just buy oil off the market. They have to keep buying oil sands oil or shut down. It's not like a refinery set up to run Texas crude, which can switch to Saudi crude with little effort. When I was in refining, we ran nasty Venezuelan crude and had a similar issue. And some refiners are looking long-term, see a reliable supply of crude coming from Alberta, and are converting to be able to run it. Some of the suppliers don't have the cash and/or credit to build them right now, so they're cutting projects. At least one company isn't.
yes I know the difference between crude oils. thanks When speaking in generalities, Canadian oil sands are near the top of the supply curve in terms of cost. They need high oil prices to justify them.
It is interesting that it dropped after he was elected and on his inauguration day. There are people that probably don't want to give Obama a chance to raise their taxes and therefore would sell(Wayne Huizenga). Certainly didn't cause a 300point drop. Obama also didn't give false hope to investors leading some buy now mentality(People that dumb don't invest much).
I don't fully get it. I might feel different if I experienced segregation, or if I was black. Him being the 1st black president is actually something that I don't really think about. It is impressive to think segregation wasn't all that long ago, but I think people like Jackie Robinson were far more impressive in terms of what it meant for equality. I think he has to go on to be a great President in order for this to really feel like a defining moment in my lifetime. I don't get any swelling of pride, others do, and there are plenty of people that can't grasp the feeling completely.
yeah, blacks going from slavery to presidents in this country isn't more significant than going from slavery to baseball players. this is a silly conservation just because you didn't live through it, doesn't make it insigificant
just obama's lifetime, born before integragtion, and probably old enough to even remember a little personally had he grown up in the south. and yes, being half black instead black would have subjected you to it.
it would be interesting if i said that blacks were slaves, obama is black, had he been around in the south before slavery, he would have been a slave, so it really doesn't matter where his ancestors were at the time, he is black, he would have been a slave, now he can be president. that's the point
Because Robinson dealt with extreme racism, and a country that was segregated at the time. Obama was elected in a country where people are considered equals. There is a huge difference. I don't recall calling it insignificant. I said it is very significant to some and it doesn't have that same significance to others including myself. I expected a black president in the very near future. I didn't see this country as racist, and I still don't. Obama isn't advancing equality because we are already past that part in our history. Obama didn't experience segregation, or the racism many people faced in the generation before him, particularly those in the South where he didn't live.
Because Africans didn't enslave other Africans? Because white people have never been enslaved? Asians haven't been enslaved? American Indians? Because women were never sold for sex? Slavery in history knows no race, no sex, no boundaries. We could have had a black president in 2000 or 2004. A viable candidate didn't run. Colin Powell would have had an excellent chance to become president, but never wanted to be. I would have been much more surprised to see a woman become president, and I would be shocked if in my lifetime a open homosexual will have the opportunity become president.
Dude, do you really live in the United States of America? Talk to some blacks, Hispanics, other minorities and women about inequality and you will gain much understanding. I promise. If you don't think Obama's election advances the cause of equality, just wow! It's a long continual process, and while things are 100x better than the 50s & 60s, we definitely aren't "past that part in our history". As with Jackie Robinson, MLK and others in the past, many just don't comprehend their significance until later. Amazingly this is true for a few even with Obama being sworn-in as president. On a personal level, every person I've spoken with, even those who are still dead-set against Obama, appreciate what today means.
When Newton was being celebrated, he said, "I have stood on the shoulders of giants." Only historians remember those giants, most people only remember Newton and his theory. 200 years from now, most people will not remember Jackie Robinson, but they will know the name of Barack Hussein Obama.
