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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (61793)	7/9/2019 7:18:27 AM
From: Goose94	Read Replies (1) of 202448

Crude Oil: WCS Murray Edwards's Canadian Natural Resources (CNRL) and Li Ka-Shing family-controlled Husky Energy are pouring money into Alberta's oil sands. CNRL dropped $16.5-billion (Canadian) to acquire properties from Devon Energy and Shell Canada, while Husky spent $435-million (U.S.) on a heavy oil refinery last summer. Mr. Edwards and the Li clan are betting on plastics. Research from the International Energy Agency (IEA) and other non-partisan groups shows that "petrochemicals are the fastest growing source of oil consumption, and we believe this is not well known among the investment community," says Eight Capital analyst Phil Skolnick. IEA studies show countries such as China and India will look to petrochemicals produced from heavy oil as a source of everything from fertilizer to packaging, digital devices, car parts and clothing. Globally, at least 12 major oil refineries will come on stream in the next six years, according to Mr. Skolnick's research, with the capacity to process 4.5 million barrels of oil each day, including 2.4 million barrels of heavy oil, an Alberta specialty.

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