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Thread: $19.97 barrel oil?

  1. #121
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    Quote Originally Posted by you&me View Post
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    Didn't see it mentioned yet, but WCS is below $10... Currently $9.19 and still trending down.
    WCS can go to zero. WTI will be under $20 before this week is over.
    Quote Originally Posted by rage2 View Post
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    I almost shat myself after eating way too much at lunch with @killramos so ya, we can start the diaper thread now.

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    Quote Originally Posted by nzwasp View Post
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    When do we expect the first Canadian company to start doing layoffs over this?
    I know of multiple layoffs that have been happening since last Wednesday.
    Ours happen tomorrow.

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    Quote Originally Posted by ExtraSlow View Post
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    WCS can go to zero. WTI will be under $20 before this week is over.
    For sure, just seemed like sub-$10 is a notable marker...

    CAD is below $.70 too...

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    Quote Originally Posted by vengie View Post
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    I know of multiple layoffs that have been happening since last Wednesday.
    Ours happen tomorrow.
    Side question - how are the layoffs happening given that most people are WFH? Are companies asking people to come in?

  5. #125
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    Quote Originally Posted by gqmw View Post
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    Side question - how are the layoffs happening given that most people are WFH? Are companies asking people to come in?
    Over the phone.
    I have to cut 40% of my team that way... it’s brutal.

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    Quote Originally Posted by vengie View Post
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    I know of multiple layoffs that have been happening since last Wednesday.
    Ours happen tomorrow.
    What type of company are you though? My wife seems to think she will lose her job she also thinks the company won’t have enough money to pay any severance

  7. #127
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    Quote Originally Posted by nzwasp View Post
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    What type of company are you though? My wife seems to think she will lose her job she also thinks the company won’t have enough money to pay any severance
    Service company

  8. #128
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    Afaik there is enough case law regarding benefits they are either paying them or going into receivership

  9. #129
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    CDA899E5-2AD5-4C3B-9B52-DCD27982A68D.jpg
    Quote Originally Posted by you&me View Post
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    For sure, just seemed like sub-$10 is a notable marker...

    CAD is below $.70 too...
    As much as I think this is horrible Iím kind of happy about it. Every time I send money back to my Canadian accounts it makes me so happy.
    Last edited by KPHMPH; 03-18-2020 at 12:27 PM.
    Professionally Retired

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    Quote Originally Posted by KPHMPH View Post
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    CDA899E5-2AD5-4C3B-9B52-DCD27982A68D.jpg

    As much as I think this is horrible I’m kind of happy about it. Every time I send money back to my Canadian accounts it makes me so happy.
    Everything I earn in is in USD... I'm keeping as much as I can in my US$ account... Saved a ton by not making my usual transfer last Friday.

  11. #131
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    so Kenney is expecting the hit to alberta to be as bad as the projected hit to the USA of -14% for this year. And he also said Q2 average price for Brent Crude is $5 a barrel - seems to low. Is he talking about the spread between brent and wti?

  12. #132
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    Quote Originally Posted by nzwasp View Post
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    so Kenney is expecting the hit to alberta to be as bad as the projected hit to the USA of -14% for this year. And he also said Q2 average price for Brent Crude is $5 a barrel - seems to low. Is he talking about the spread between brent and wti?
    Brent at $26.4. WCS at $7.6. So are we at a point where it's cheaper to leave it in ground and wait?

    But if we do, doesn't that mean Saudi and Russia wins?

  13. #133
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    Quote Originally Posted by Xtrema View Post
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    But if we do, doesn't that mean Saudi and Russia wins?
    Was there ever a doubt they wouldn't?

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    Quote Originally Posted by Xtrema View Post
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    But if we do, doesn't that mean Saudi and Russia wins?
    You know, it's in our best interests if they DO win. Capitalism isn't a zero sum game. If they are in teh best position to make lots of money of their resources, then we will have the chance to do the same if we don't hinder ourselves excessively.

    A collapse of worldwide drilling is exactly what's needed to re-balance the supply side of the equation, and eventually, raise prices. In fact, with SA and Russia pumping flat out, and prices rising, it will actually put north american producers in a STRONGER position, as they will truly become the swing production.

    Anything that North America does this year to help prop up drilling activity is against our own interests.
    Quote Originally Posted by rage2 View Post
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    I almost shat myself after eating way too much at lunch with @killramos so ya, we can start the diaper thread now.

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    The sooner we see mass bankruptcies on over-leveraged american producers, the soon Canada can get back to making money. We should hope for a quick SA/Russia win.

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    Quote Originally Posted by Buster View Post
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    The sooner we see mass bankruptcies on over-leveraged american producers, the soon Canada can get back to making money. We should hope for a quick SA/Russia win.
    That's probably a clearer way of saying what I mean.
    Quote Originally Posted by rage2 View Post
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    I almost shat myself after eating way too much at lunch with @killramos so ya, we can start the diaper thread now.

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    How come I don't see people trying to sell their exotic cars for dirt cheap yet? Most are so over-leveraged that this has to be crushing them.
    sig deleted by moderator, click here for info

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    Quote Originally Posted by M.alex View Post
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    How come I don't see people trying to sell their exotic cars for dirt cheap yet? Most are so over-leveraged that this has to be crushing them.
    I'm considering selling mine to buy some high growth index funds. I'll PM you when the Kijiji advert is active.
    Quote Originally Posted by rage2 View Post
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    I almost shat myself after eating way too much at lunch with @killramos so ya, we can start the diaper thread now.

  19. #139
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    Quote Originally Posted by Buster View Post
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    The sooner we see mass bankruptcies on over-leveraged american producers, the soon Canada can get back to making money. We should hope for a quick SA/Russia win.
    So do you think Cenovus should go into bankruptcy as well? Or are US operation are even more leveraged than Cenovus?

  20. #140
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    Quote Originally Posted by Xtrema View Post
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    So do you think Cenovus should go into bankruptcy as well? Or are US operation are even more leveraged than Cenovus?
    What do you mean by should?

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