Zonte Video - February 19, 2024

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3 years 1 week ago #126583 by Gambler
Gambler replied the topic: Oil Market bottom
Trudeau meeting Biden, what a joke

The Globe and Mail reports in its Friday, May 14, edition that the battle over Enbridge Line 5 shows how declarations of friendship between Canadian and American governments are hostage to local politics. The Globe's Lawrence Herman writes that this past February, Prime Minister Justin Trudeau and President Joe Biden concluded a "Roadmap for a Renewed U.S.-Canada Partnership." In spirit and intent the Roadmap should prevent actions by the state of Michigan that will seriously harm broad Canadian interests. Of critical importance, Line 5 is governed by a binding treaty between Canada and the United States, guaranteeing unimpeded hydrocarbon transit where a pipeline runs through one country on its way to the other. Yet when it came to fighting the issue in Michigan court this week, the Biden administration was nowhere to be seen. Canada and Enbridge were left to argue the case without any help from Washington. All because of the close relationship between Governor Gretchen Whitmer and President Joe Biden, and because of environmental politics and the way the winds are blowing in the Democratic Party. The Biden administration has passed the dispute off as something for Enbridge and Michigan to sort out.

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3 years 1 week ago #126577 by alexgreat
alexgreat replied the topic: Oil Market bottom
This was in the globe today too. This is a good point

"Local opposition has doomed hopes of future energy projects, and internal divisions have so weakened the United States that it is no longer a reliable partner. Canada can no longer trust the U.S. because of its internal divisions. It can no longer get anything done at home because of our internal divisions." Mr. Ibbitson says, "And that's that."

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3 years 1 week ago #126576 by lynnsa10
lynnsa10 replied the topic: Oil Market bottom
And the soap opera continues. If Whitmer gets voted in again, they deserve what they get

The Globe and Mail reports in its Thursday edition that a U.S. business group has accused Michigan Governor Gretchen Whitmer of practising political brinkmanship for ignoring Enbridge's proposal to build a $500-million (U.S.) tunnel that would have resolved fears over the risk of oil spills in the Great Lakes waterway. The Globe's Steven Chase and Emma Graney write that both Enbridge and Michigan remain in court-ordered mediation. Christopher Guith, with the U.S. Chamber of Commerce's Global Energy Institute, says: "By pandering to the most extreme activists, Governor Whitmer is not only pursuing a terrible policy that will harm Michiganders and both countries as a whole, but her legal standing lacks merit as well. This brinksmanship is political theatre, and unfortunately millions of Americans and Canadians are likely to pay the price for it." Chamber chief Richard Studley says Ms. Whitmer's actions are a "slap in the face" to Canadians and Michiganders. He notes that part of the problem for Michigan is the lack of practical alternatives to get natural gas to a region where 75 per cent of the population need it to heat their homes. He says it is insane to start shipping oil on barges on the Great Lakes.

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3 years 1 week ago #126568 by alexgreat
alexgreat replied the topic: Oil Market bottom
GB, good idea, here is news on the Colonial shutdown

Operators of the Colonial Pipeline (NYSE:SHLX) will know by late Wednesday whether it's safe to restart flows of fuel following a crippling cyberattack last week that shuttered the 5,500-mile conduit. Even when the pipeline is restored to full service, it'll take about two weeks for gasoline stored in Houston to reach East Coast filling stations, while heavier diesel and jet fuel will take even longer (about 19 days).

The national average of retail gasoline prices has already risen above the politically sensitive level of $3 a gallon for the first time in six years, adding to broader inflationary pressures. More than 1,000 gas stations in the Southeast have reportedly run out of fuel, while premium for wholesale gasoline in the New York area reached its widest in three months. Crude processors are also being forced to reduce run rates, while refiners are booking ships to store growing fuel stockpiles.

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3 years 1 week ago #126566 by GoldnBoy
GoldnBoy replied the topic: Oil Market bottom
Oil is doing better, lest share some ideas here, the ongoing Enbridge Line 5 is a key issue

The Financial Post reports in its Wednesday edition that Ottawa mounted its strongest defence yet of Enbridge's Line 5 on the eve of its possible closure. The Post's Geoffrey Morgan writes that Michigan Governor Gretchen Whitmer has threatened to seize Enbridge's profits if it defies her order to shut the pipeline. In a legal filing on Tuesday, Ottawa said shutting down Line 5 would "harm" the relationship between Canada and the United States, cause fuel price spikes and layoffs, in addition to contravening a 1977 treaty. An amicus brief argues that the treaty prevents a state-level government from shutting down a pipeline running between the two countries. "It is essential to the continued success of the relationship (between Canada and the U.S.) that both countries can trust that their reciprocal legal commitments will be fully honoured and implemented notwithstanding initiatives at the state, provincial or local government level," Gordon Giffin, the lawyer arguing the federal government's position, wrote in the filing to a U.S. district court in Michigan. The brief said, "The proposed shutdown would cause a massive and potentially permanent disruption to Canada's economy and energy security."

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4 years 3 months ago #124517 by Gambler
Gambler replied the topic: Oil Market bottom
Oil bottom, maybe the pipeline will go through. Big win for Canadian oil yesterday

The Financial Post reports in its Wednesday, Feb. 5, edition that the Federal Court of Appeal Tuesday dismissed the case filed by Tsleil-waututh First Nation, Squamish First Nation and Coldwater Indian Band, who argued the federal government failed to properly consult on the Trans Mountain pipeline project, which would pass through their territories. The Post's Geoffrey Morgan writes that those indigenous groups and aligned environmentalists opposed to the pipeline reiterated Tuesday that they are committed to blocking the project. Tsleil-waututh First Nation member Rueben George said the decision would be appealed to the Supreme Court. "We are deeply disappointed with the decision today," said Dustin Rivers, a spokesman for and elected member of the Squamish Nation Council. "B.C. has a long history of civil disobedience," Mr. Rivers said. First Nations have 60 days to file an appeal. The Post says it is unclear whether the Supreme Court will be willing to hear an appeal given the sharp wording of the decision, which was rendered unanimously and ordered the indigenous groups to pay compensation to the defendants -- the federal government, Canada Energy Regulator as well as Alberta and Saskatchewan.

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4 years 8 months ago #123590 by lynnsa10
lynnsa10 replied the topic: Oil Market bottom
Here is an interview with Iranian foreign minister. The story from the other side.

www.cnn.com/2019/09/19/middleeast/iran-z...audi-intl/index.html

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4 years 8 months ago #123589 by GoldnBoy
GoldnBoy replied the topic: Oil Market bottom
The best evidence is one of the missiles that did not explode, so they can figure the range capability which was put at 435 miles, so could not have come from Yemen.
Also the Saudis claim to have a radar track of one of them coming from the North.

www.aljazeera.com/news/2019/09/oil-attac...190918144905315.html

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4 years 8 months ago #123585 by alexgreat
alexgreat replied the topic: Oil Market bottom
Good video and no surprise if it is Iran. The U.S. pushed them into a corner with oil sanctions and they first tried to disrupt shipping through Hormuz but with US and the British bringing in war ships, a strike on Saudi production is much easier.

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4 years 8 months ago #123583 by Gambler
Gambler replied the topic: Oil Market bottom
Best analysis, I came across on Saudi attack

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4 years 11 months ago #123042 by lynnsa10
lynnsa10 replied the topic: Oil Market bottom
Maybe the Canadian oil patch has a glimmer of hope

www.cbc.ca/news/politics/trudeau-trans-m...ine-wherry-1.5179626

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5 years 6 months ago #121537 by RonS
RonS replied the topic: Oil Market bottom
Great video, by Oil exec

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