Big Banc Split Corp T.BNK

Have to wonder . . .

[jutah70]

. . . if all that is going on is an orchestrated effort to get some companies to unload their oilsands assets. I am sure the Saudis would love to own their greatest threat. But seems that ploy is not working. https://business.financialpost.com/news/energy/canadian-energy-companies-selling-off-jewels-in-the-crown-to-keep-oilsands-operations-afloat?__lsa=f07d-764f

[cashtango00]

yes the Saudis are destroying their own economy so they can scoop up assets on the other side of the world that produces an inferior product at 3x the cost, and once they get it out of the ground, its landlocked because of the lack of oil transportation in Canada, so they are then forced to sell at a discount.......seems reasonable.....

[jutah70]

Think the land lock issue would get cleared up after someone else but Canada owns those assets? You bet. Oh, and as for the Saudis ability to fund future work, you should see what they have on the go and slated for future construction at home. Owning oilsands assets means they would control their main source of competition. But that doesn't sound like the Saudis kind of thing. OPEC is more

[cashtango00]

Canadian oilsands is not even close to the " main source of competition " for the Saudis.  Look at the production numbers.  Further, at present, Saudi's are killing tons of capital projects because of their now massive reduction in cashflows.  ( social spending is being slashed at unprecidented rates)  Lastly, the landlocked  of the oilsands isn't an

[braincloud]

I'm not sure what you are getting at. I certainly don't buy your idea about oilsand assets. Oilsands aren't the marginal producer and they certainly aren't the low cost producer nor are they the least capital intensive player either. The Saudi plan is working in the context of those oil plays that have been made profitable because of low yields and NOT by overall profitability. My

[jutah70]

Ironic that most of the project announcements and job posting at my company seem to be in their region. As well, the Saudis are not only after the physical asset, but the human assets. Creating mass unemployment has allowed them to attract talent overseas. Lots of job posting throughout the US (especially for those in the fracking space - ironic wouldn't you think). Even on my company job

[braincloud]

I think that with all this Capex being cut and capacity being shut in, it will have a very bad impact on future supply. What may seem as a good thing now having low oil prices short term will eventually mean that mega projects that will have to supply the inevitable increase in demand for oil will eventually result in very high oil prices. Having a talent pool emigrate overseas may very well be a