RE:Reading Canadians on fossil fuels, + I doubt anything more than growth in renewables will just take up the huge immigration
growth so we wont' show much headway regardless of how good the new world order comes down.
We all know in Canada base electric vehicles are not good enough, may never be especially for winter, too heavy, hard on tires and roads and maybe more dangerous in accidents hitting lighter weight vehicles.
Halifax just decided to spend something like 9 million more on bike lanes that no one uses presently. We can have over 200 days of precipitation, heavy winds etc that few want to ride bikes during. We can't build tunnels here. We only have a fair bus system that is useless for anyone that wants to go to more than two destinations. In a car you can quickly go to five or ten destinations, take multiple people with you so I will neve use the bus system other than an odd time.
By the way talk about waste, my Solar panel system will be replacing 35 optimizers on top of 16 already replaced and the whole inverter system. Only three years old.
May the Liberals eventually get voted out, hopefully never to see the NDP in, and some common sense leaders in the Conservative side that has been lacking. I believe the Liberals were turned into the NDP, when you can't beat them you just join them and take them over from the inside.
Back to PEY. What really is our value here at 110,000boe/d production. In this price environment maybe $14 to $15 if lucky? Maybe when the 11c div starts it will do a little better.
Can we have improvements in debt levels, production and new ventures enough to keep us here to move forward. Or will we see a seesaw back and forth based solely on the price of oil and NG all the time?
I was thinking earlier today if Peyto had stayed over the years with say 30 to 40% present debt levels, we would have a lower production level but may have had higher profits not being under the debt constraints, and could have almost paid off $400,000,000 by now if they were not so aggressive that way.
Just think, with no debt you are not under any banks thumb during weak prices and all you have to do is lock in your costs on new wells / production during higher prices, the rest being gravy.
I am happy PEY is slightly growth oriented.