Something to think about?Teck Resources is trying to get approval for a massive Oil Sands project and claims Oil will be in the $90 range in the future. I don't think the CEO of Teck is on drugs but what negative backlash is out there the minute you talk about Oil actually being in demand. What do I think? I think it's a big lie, that there is an oversupply of Oil, I think that's what Donald wants you and the world to believe. I believe all the easy Oil in the USA is already out of the ground and what's left is going to cost $$$ to extract. Do you really think that the Saudi's fixed that attack in 30 days?? yeah right, but the IPO was coming,,and you can't have that negative press. I'm sure they've be sucking the reserves to keep supplies going and if they get hit again we'll know the truth. I think the CEO of Teck knows how to make money and the Frontier mine is part of it just impossible to change the mindset of people. Hang in there Oil is heading higher, just don't know when...no one is going to buy an electric car,, at least not yet,, but when gas goes to $4 USD that'll change things. These liers are loading up rest assured for that day.
“The world right now is producing an over-supply of oil,” said Tom Sanzillo, the IEEFA’s director of finance, who co-authored the report with Kathy Hipple, a financial analyst with the IEEFA. “This will continue for the foreseeable future, which will drive prices down and keep them low.”
The report, titled Teck Resources’ Frontier Oil Sands Project Shows Reckless Disregard for Financials, argues that Teck Resources is wrong in assuming that the price of oil will be “in excess of $95 per barrel” for most of the project period, from 2026-2066.