Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 269,000 gross acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.

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Baytex Energy Corp > Biden Getting Desperate

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Comment by Konaboyon Oct 31, 2022 2:33pm

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Post# 35060831

RE:RE:Biden Getting Desperate

Election day is not transition day, he's got runway into January to try to push through legislation. We'll hear more between now and then. Possibly a lot more, if he tries to goad the Republicans into picking up where he left off. But agree that a windfall tax will go nowhere.

riski wrote: Biden is fishing for votes and nothing more. In one week he won't have the power in congress to pass a law as controversial as a windfall tax. It's dead in the water.

Even if the Dems had the full power of congress, they wouldn't do it. The unintended consequences are a disaster and actually make the problem much worse. Just the mention of a windfall tax is enough to make big oil shave their capital expenditures for 2023.

The oil companies don't determine the oil prices. The market does and green policy is what has led to the current prices. Calling the price of oil un-American is ironic. Even more ironic is the guy calling the oil companies un-American is saying he might float a windfall tax, an anti-capitalist move and probably the most un-American thing I've ever heard of.

Expect some bizarre political behaviour for another week, then back to the regular show.

Chrisinvan7 wrote:
Biden sounding like Maduro by the day.. Threatening to seize corporate profits of companies that refuse to help his political fortunes especially after deamonizing those very companies is despicable and un-American. Fortunately like everything government does, you can be sure that whatever policies he pursues will have the complete opposite effect of their intent.

https://www.washingtonpost.com/politics/ap-source-biden-to-float-windfall-tax-on-energy-producers/2022/10/31/b998b7a6-5934-11ed-bc40-b5a130f95ee7_story.html