There's Lot's Of Oil At And Around The HUBNobody and I mean NOBODY is going to build a HUB in the NS like Ithaca and their partners are doing in this climate of low oil. Ithaca and the group just lucked out or call it what you want that they started this project in good times and good lending times of money.
That is why this HUB is worth BILLIONS and Delek knows this. Ithaca is a well deversified company that hedged it's oil at the right time at the right price and has it's jewel of an assett coming on line very,very shortly. Scotland is going to bend over backwards to help this along and that may even mean more tax breaks going forward. Here you have a shinning star of a company creating work and jobs for years to come when everyone else is cutting back or moving/selling call it what you want .............abandoning the NS.
These Delek boys know that they will be there for the turnaround in oil prices and they will be laughing all the way to the bank when this happens. They will be basically buying reserves at basement prices and turning them into liquid gold.......................... why you ask, one word.....owning the HUB = LOW COST PRODUCER!!!
Who would want to buy COS anyways........................ they either have a fire or explosion every year that shuts their ONLY ASSETT down for months, you have a nightmare in environmental clean up and super bad press and you have an NDP goverment that could do anything at anytime to kill the complete oilsands!! NO security in Alberta as we speak and everyone knows that. Delek wants something they can control with ease and that is why they will keep on certain Ithaca management.
Wake up man........................... the NS is the ticket and star player is ITHACA.