Athabasca Oil Corp T.ATH

Alternate Symbol(s): ATHOF

Energy Oil & Gas E&P

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. It also consists of two operating oil sands steam assisted gravity drainage projects and a resource base of exploration areas in the Athabasca region of northeastern Alberta. The Light Oil segment includes its assets, liabilities and operating results for the exploration, development and production of light crude oil and medium crude oil, tight oil and conventional natural gas. Its Light Oil segment consists exclusively of the Duvernay in the Greater Kaybob area with about 155,000 gross acres across Kaybob West, Kaybob North, Kaybob East and Two Creeks.

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Athabasca Oil Corp > What CLUELESS RUBES These American Oil Investors Are ?????

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Comment by Maxmoeon Jul 04, 2021 9:24am

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Post# 33490527

RE:RE:RE:RE:RE:RE:What CLUELESS RUBES These American Oil Investors Are ?????

Well, this proves my point. Saudi defense spending, according to your chart, I would characterize as flat to slightly down. It is an enormous % of the total government budget but that's the price of living there. Israel has a huge budget as well. The total Saudi budget, according to your source is also flat to slightly down. Oil has been from what? 80 to 0 and back? I don't see any evidence to support the claim that Saudi needs precisely or approximately $72 oil to run their country. Aramco is a public company so the royals get a divy like everyone else regardless of the price of oil. They also have vast vast reserves of wealth spread all over the planet to draw on any year they have a deficit. Last I read, they held $150 billion in us treasuries directly. Not counting squirreled away in Swiss banks, london banks, corporations etc etc. yes, the Saudi government is directly or indirectly very reliant on oil prices to maintain their extremely wealthy standard of living. But they also have no qualms about forcing any hardships on their people if it's ever necessary. Is there a price that oil could drop to that would cause a collapse of the Saudi economy? Of course. But no way would I set that at $72. Maybe 22.

old_dog wrote: From Janes....Just an indication of the amount of money the government needs for one sector of their government.

old_dog

Saudi Arabia cuts defence spending

by Charles Forrester

Saudi Arabia will cut its defence budget for 2021 by 3.8% to SAR175 billion (USD46.62 billion), marking a continued decline in the country’s defence spending, according to budget documentation released on 16 December.

Overall government spending was reduced to SAR990 billion, down 2.94% year-on-year. Government revenues are anticipated to be SAR849 billion, creating a budget deficit of SAR141 billion, or 4.9% of GDP. Defence expenditure as a percentage of public expenditure is expected to remain relatively stable in nominal terms at 17.68%. Defence spending as a proportion of GDP is also forecast to decline from 7.04% in 2020 to 5.81% in 2021, a level not seen since 2013, as the overall budget is also reduced to 2014 levels.

Budget information provided under the reporting line of “military sector” covers 19 government bodies including the Saudi Armed forces, Royal Guard, defence research and development, military training and development, as well as military health services and cities and bases.

Saudi Arabia has continued to cut defence spending, with in-year overspend levels also decreasing. (Saudi Ministry of Finance/Janes)

Key project achievements outlined this year included the initiation of the first phase of construction for facilities at the King Salman Airbase, implementing the first phase of the relocation and establishing the King Faisal Air Academy, setting a 10-year development plan as part of the overall development of the Ministry of the National Guard, and continuing to aim for the localisation of 50% of defence procurement expenditure under Vision 2030.

Aims for 2021 include completing the King Salman Airbase and relocation of the King Faisal Air Academy, continued capacity building for the branches of the military, and the ongoing implementation of the development plan for the Ministry of Defence.

Maxmoe wrote: Sorry, don't believe it. Aramco is the Saudi oil industry. It's no longer a government owned piggy bank. They pay for everything same as Trudeau. Taxes and debt. I don't believe propaganda from the cia any more than from saudis, Russians or Chinese. Data from controlled economies is so unreliable why would anyone. No doubt the divy from aramco covers a very large % of their monthly nut. But it's the same divy for all shareholders and it isn't going to double or drop in half when oil drops from 70 to 35 and then round trips back up to 70. I wouldn't believe the magical number is $72 any more from the cia than I would if MBS or the king himself said it was so.

old_dog wrote: I'm talking about the Saudi Government...they need $72.00 oil...oh lord...How do you think they run their economy...on visits and tourist. The government needs $72.00 oil to run the economy, the military, the hospitals, schools.........BELIEVE IT.

old_dog