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Gold/Mining/Energy : Copper Fox

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biggerbob68

sense

To: louel who wrote (9639)	9/15/2015 10:06:50 AM
From: Metacomet	2 Recommendations Read Replies (1) of 10654

..Teck has a bad bet on their hands.. Crashing Oil Prices Aren't Due to an Oil Glut But to Demand Destruction and Peaking Credit Never minding the massive ecological destruction left in the wake of tar sands projects, but because of the massive industrial operation entailed, to earn back enough funds so as to turn a profit they require a relatively high oil price (that is, the high prices that contributed to the insolvency of many of their customers in the first place). With oil prices currently so low, only 450,000 of the 2.2 million barrels of synthetic crude currently being produced are in the black. This has then placed many tar sands companies between a rock and a hard place. Message 30234730

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