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Gold/Mining/Energy : Copper Fox -- Ignore unavailable to you. Want to Upgrade?

To: Metacomet who wrote (9511)	4/21/2015 2:59:47 PM
From: louel	Read Replies (2) \| Respond to of 10654

I think the guy is full of shit. The world is no where close to replacing oil for at least another 40 or more years. Linking the Canadian Tar Sands and the Bakken oil shale in the same production cost price category is another fallacy. The Bakken is in the $70 range. The Tar sands Average per Bbl cost once in production is in the $30's. Foot Hills is on target for completion and building costs. per flowing Bbl there will be 28 to $30. If oil did go that low it would never stay there long. The CEO of US Statoil this morning stated they are not backing off on exploration nor production. He expects oil to be higher in 12 months than it is now. However they are trimming the over the top, frivolous spending. To become a leaner better run company. Canadian Governments solidly support oil production. And would likely grant short term tax concessions to ensure their viability if necessary. Our Prime Minister Steven Harper is a former economist with Exxon. And the majority of companies working in the oil sands are American owned firms. You can bet that our oil will reach the Asian market. By one or more of the proposed routes. China is where our future market is. And Canadian Oil will find it's way there one way or another. Via the East , West, pipelines, or by expanding existing transportation methods which already cross the border like the Clipper line to Chicago. The writing is on the wall. China is fast becoming the World's future economic power. Even starting a China led World Bank supported by US allies. Against White House wishes. Canada did not join as a founding member, but signed an agreement to trade directly with China by-passing the US dollar. So Teck will be Ok at Fort Hills. And it won't be the last energy project they are in. Follow the prices below. Still a long ways down to hit $30 break even. investing.com