Oil war

[jazz]

Hold on to your hats, things are just getting hot, virus plus recession plus oil war. Canada is going to be smoking carcass by the time this is all done.

https://www.bloomberg.com/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war Saudis Plan Big Oil Output Hike, Beginning All-Out Price War

[farming101]

Yes, thinking we might have jumped the gun filling the storage tanks. Rack price down 10 cents since then
Oh well...

[Robertbarlage]

Heard Russia is to

[macdon02]

This is directed at renewables. Solar and wind are in the cross hairs. It's gonna cost billions to keep them feasible, keep working. The "friends of Ottawa" depend on it

[macdon02]

If you can't get materials from China for the panels/ batteries, and oil is dirt cheap, it's an extinction event.

[AlbertaFarmer5]

This is directed at renewables. Solar and wind are in the cross hairs. It's gonna cost billions to keep them feasible, keep working. The "friends of Ottawa" depend on it

That is where the CO2 tax comes in. Only way to possibly make fossil fuels less economic than the most expensive energy source is to tax the cheap source into being uncompetitive.

[chuckChuck]

I am looking forward to cheap diesel for spring seeding and some deals on machinery.

[Austrian Economics]

The collapsing price of oil as a result of an all-out effort to boost production fits with the thesis that falling interest rates are deflationary when it comes to commodity prices. In a falling interest rate environment, producers do not have any pricing power whatsoever. Efforts to hoard will always fail. Those who try will eventually throw in the towel and just pour product onto the market at whatever price the market will offer.

It's the mirror image of what happened in the rising interest rate environment of the late 1970s.

Not good news at all for the Canadian oil patch.

[Herc]

I am looking forward to cheap diesel for spring seeding and some deals on machinery.

Don’t you mean cheap solar panels, wind turbines and batteries? wtf would you burn diesel for....

[AlbertaFarmer5]

Don’t you mean cheap solar panels, wind turbines and batteries? wtf would you burn diesel for....

And isn't he supposed to be lamenting lower priced fossil fuels, since that will only encourage consumption and CO2 emissions? There was a thread about hypocritical lefties here lately, what a perfect example right here.

Remember all the posts supporting a CO2 tax because it will raise the price, and therefore discourage consumption?

[chuckChuck]

On the contrary. Just because its cheaper doesn't mean I will use more. I am committed to reducing use as much as possible. Lower priced inputs mean higher profits for the farmer. Are you in favour of higher fuel prices and giving more of your profit to the oil companies?

[Crestliner]

And isn't he supposed to be lamenting lower priced fossil fuels, since that will only encourage consumption and CO2 emissions? There was a thread about hypocritical lefties here lately, what a perfect example right here.

Remember all the posts supporting a CO2 tax because it will raise the price, and therefore discourage consumption?

Took the words right out of my mouth. Typical hypocrites! Going to take advantage of the cheap deals....

It’s awesome to see the cost of fuel drop and interest rates go down. It means lower cost for THE WEALTH PRODUCERS!.....you know the ones that get up at 6:00 am every day, makes things that make people’s lives better, or help people make their lives better and oh yes...also pay taxes to keep it all going.

So it’s a real break and benefit to everyone.

But wait for it.....The morons in Ottawa will figure out a way to tax the shit out of lower priced fuel...LET INCREASE THE CARBON TAX MORE!!!

“There is a real threat to humanity going on” don’t you know??? Watch the looser McKenna in the HC on YouTube come unhinged...she must have left her snow shoes at home that day she was so distraught.

Ritz must have been totally ASS blind when he called her Climate Barbie.....maybe Climate Cruella would be more appropriate. Her voice makes me want to 🤮.

[TASFarms]

Where is the Canadian dollar going to end up with oil going down?

[Crestliner]

Where is the Canadian dollar going to end up with oil going down?

Down and cheaper....good for grain prices bad for imported equipment, and holidayers in the US. The Canadian Currency is a Petro currency.....might be hard on canola prices as it follows the Canadian dollar to a degree...like canola needs more help going down! Not...

[flea beetle]

On the contrary. Just because its cheaper doesn't mean I will use more. I am committed to reducing use as much as possible. Lower priced inputs mean higher profits for the farmer. Are you in favour of higher fuel prices and giving more of your profit to the oil companies?

I am not, but the way you talk, you shouldn't be using any carbon based energy in the first place. You are a major hypocrite if you do.