RE:RE:RE:RE:Veren is the ugliest girl in the bar Yeah, you're right....we are in defferent boats alright. You suggest the PM could or should stop/prevent the Saudis from "opening the taps to destroy Canadian producers". I think the PM is powerless to do anything about the Saudis and the Saudis don't give a hoot about Canadian production.
You say the government is "attacking capital gains"?? How? By raising the inclusion rate to 66% for the portion of gains above 250,000 ? To believe that you'd have to believe that investors deserve to pay tax at a LOWER RATE than people who just go to work every day for a living. And you might believe that.
I don't... the reality is that investors STILL pay less % tax on income than workers even AFTER the raise in the inclusion rate.
A worker who makes 111,733 a year ends up paying 17.7% in federal tax.
If that worker had a 340k capital gain he's still pay 17.7% on the work income but only 15.8% on his 340k capital gain...
If he had anticipated the capital gain and took the year off, he would only pay 11% of his 340k capital gain in federal tax.
Foreign investment in the resource/oil industry soured in 2014 when the oil price crashed and oil was found all of a sudden just about everywhere and cheaper to produce than in Western Canada. It's been a slow exit ever since. Canadian companies benefitted GREATLY by this exodus by picking up long life assets on the cheap.
What government policies would attract multinationals to come back according to you? The fact is multinationals are simply not interested in oil sands projects that cost 20B to build, take six years before "first oil" is produced and require WTI to average 65 dollar a barrel to justify the investment. (Those numbers are from Teck's proposed Frontier oil sands mine that was cancelled because of lack of investor interest. Teck could not find a partner.)
Anschutz wrote: I think the more accurate analogy is that our boats are at the moment alongside and heading in similar direction. LOL!
As for your other question regarding the Trudeau government... well I don't know... maybe communicate more support internationally for the sector and Canadian companies... stop attacking captial gains... devise policy that attracts foreign investment.
Trudeau and Guilbeault have since day 1 worked to villify the sector and funded NGOs with taxpayer dollars to attack and fund special interest groups. The same groups that then produce specious studies and reports that the Trudeau government then uses to justify anti-west/resource policy.
packerdriver wrote: Anschutz wrote: Pretty certain OPEC has an army of analysts dedicated to monitoring EVERY energy E&P company on the globe. If OPEC recognizes Canadian/North American companies are caught in a down draft, they won't hesitate to use it to their advantage. If Saudis decide the time is right to take back market share (and appease a new Trump administration), don't think for a minute they won't open the taps long enough to destroy Canadian producers. What they lose in the short term in oil sales to the USA, they'll make up in the long term as they steal Canada's market share. Trudeau will also gladly allow it to happen over the next year if it decimates Alberta/Saskatchewan and helps to usure in the demise of Canada. Trudeau will exit the political scene, retire to the tropics, and leave Canada in ashes.
We truly are in dangerous waters right now and it could get much worse. Full disclosure I'm fully out of the sector except for some shares in WCP that I hold for the monthly dividend. That being said, I'm watching WCP like a hawk and will bail if market/politics/sentiment continue to worsen.
Marty47 wrote: I know many talking about it's a good time to buy , some say "if cnq hit 5$ so veren can too " election are not done in USA , maybe in Canada soon , and Nutall is the pumper with no air , veren is like the ugliest girl in the bar that at some point you will pick up at 3 am if she's the only left , so she may look ugly but for me to bring her home I'm waiting to 5.5$ , she look pretty at this price lol like someone said everytime you buy veren , it keep going down so best time is really low
I'm kind of in the same boat as Anchutz...very little exposure to oil....bought back in again with FRU (for income) and some VRN at 8.30 two weeks ago. To follow Marty's storytelling I bought a few VRN in my TFSA "play account" today. That was like buying a Keno ticket with my last toonie on the way out of the bar. "Que sera, sera"! (I NEVER buy lotto tickets)
But Anchutz, if "Trudeau will gladly allow" the Saudis to attack Canadian producers by opening the taps...How would he stop them from doing it?? (??) I don't understand. The US now produces THREE TIMES the amount of oil compared to Canada's production....I don't think the Saudis spend a lot of time thinking about us.