Post by
ditchdigger251 on Jun 29, 2018 3:44pm
Oil-ran & Yuge World Demand Rocketing WTI
Holy-mackerel! WTI's $74.31 USD at 1:23 pm! And given that Edmonton sweet light's prices are approximately the same as WTI that makes equivalent value at ~$98 CDN! To put this into perspective the current avg AER Edmonton Light oil price is only $63.90 CDN ( https://www.aer.ca/providing-information/data-and-reports/statistical-reports/oil-prices ).
As predicted the U.S. isn't waiting for the do-nuth'n Euro's to push Iran into a corner. And imagine oil demand increasing after Trump fingers two decades of economy-killing enviro-activist green policy? The EU's been quietly killing their own expensive "green" energy subsidies so it looks like the developed economies are all waking up to compete against each other and that means further increasing oil demand. Given that oil exploration activity's at a 60 year low ( https://www.ft.com/content/441d0184-f13f-11e6-8758-6876151821a6 ) since 2015 how can the World keep oil prices level while meeting demand and forcing a rogue nation large production shut-in? We're already almost at $100 CDN oil now and given that the Permian oil capacity will max out in a couple of months is $100 US oil far off? Canada NEEDS to build pipelines NOW or there's gonna be a huge party that we're going to miss.
This oil price surge should be a super gain for IBR and possibly the catalyst for a bigger fish to try to take a bite at a fair price. I'm hopeful that IBR will issue some inter-quarter update to kick the sp upwards. They might be waiting on the startup of the crypto-currency operation. Imo, I doubt they want to maintain the sp at Velvet's deal level much longer.