Canada WCS price is collapsed into the cellar

[Jan van Eck + 7,558]

It looks like there is nothing but more bad news for the export of Canadian heavy oil, which historically has been priced at about $15 below WTI.  Right now it is running at the astounding discount of $55, with prices hovering between $15 and $16 a barrel.  All this due to no take-away capacity.   Time for the Canadians to start building oil tankcars!

Nothing quite as dispiriting as losing a bucketful of cash on each oil produced out of those oilsands.  And no hope in sight.  Ugh. 

ca.finance.yahoo.com/news/darkest-days-canadian-crude-plunges-u-s-benchmark-183701331.html?utm_source=nl&utm_medium=em&utm_campaign=mme_politics&utm_content=209622&utm_term=0&sfi=e87b5d06479f2c77b1b13b5c59293626

[Dan Warnick + 6,100]

7 minutes ago, Jan van Eck said:

It looks like there is nothing but more bad news for the export of Canadian heavy oil, which historically has been priced at about $15 below WTI.  Right now it is running at the astounding discount of $55, with prices hovering between $15 and $16 a barrel.  All this due to no take-away capacity.   Time for the Canadians to start building oil tankcars!

Nothing quite as dispiriting as losing a bucketful of cash on each oil produced out of those oilsands.  And no hope in sight.  Ugh. 

ca.finance.yahoo.com/news/darkest-days-canadian-crude-plunges-u-s-benchmark-183701331.html?utm_source=nl&utm_medium=em&utm_campaign=mme_politics&utm_content=209622&utm_term=0&sfi=e87b5d06479f2c77b1b13b5c59293626

Sad.  Build some more windmills, and hope.

[Jan van Eck + 7,558]

21 minutes ago, Dan Warnick said:

Sad.  Build some more windmills, and hope.

Meh.  I predict the Canadians will be constructing some in-situ refineries and use the stuff themselves.  More logical from a political perspective.