Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (52497)	12/3/2018 7:13:57 AM
From: Goose94	Read Replies (1) \| Respond to of 202710

Crude Oil: Western Canada Select have collapsed owing to a shortage of pipeline capacity. The resulting oversupply has nowhere to go. Oil companies are shutting in or reducing production, storing existing supplies in the hopes of better prices in the future, and increasingly turning to railways and even trucks to move oil, even though transportation costs -- and risks -- are higher. Gear Energy (GXE-T) ships heavy crude by truck every two days. Gear CEO David Ingram Gillmore can hardly believe it has come to this. Trucking oil across Saskatchewan, he says, is "ridiculous." Mr. Gillmore started Gear eight years ago. The idea was to make money on an unloved commodity: Alberta heavy oil. Gear rode the last boom, early in this decade, then toiled through the bust after 2014. It was hard, but the company never once booked negative cash flow. Today, with the province's oil prices near record lows, Mr. Gillmore is facing red ink in November and December. For Gear, business is the worst it has ever been.