Weekend Edition: Canada Losing Billions in Oil Discount

What happens when Edmonton Par (Canadian light oil benchmark) trades at a discount of $9.50 to WTI and when Western Canadian Select (Canadian heavy oil benchmark) trades at a whopping $33 discount per barrel to WTI? Then what happens when WTI oil trades at an $18 per barrel discount to Brent? Canada loses billions of dollars in revenue.

It’s about time we set an energy strategy in this country and override all the pipeline naysayers and eco-Nazis. We need export solutions and we need them fast, the wealth of all Canadian citizens is at stake. Let’s lay those new pipes or use existing ones to ship our oil through the west to Asia or east where we can wean ourselves off imported oil. We cannot stand idle when our precious commodity is landlocked in Canada and the US, the rising production in the US will fuel competition for pipeline capacity and sooner than we think.

You might have noticed the stock price of some heavy oil producers got hit and while short sighted investors sold off, long sighted management teams where issuing options at these prices. This turbulence shall pass as I’ve seen this before more than once!

News Roundup

U.S. Oil Fields Stage “Great Revival,” But No Easing Gas Prices

US natgas rigs at 28-month low, prices squeeze profits

IEA Cuts 2012 Oil Demand Forecast on ‘Darkening’ Growth

Repsol Says Argentine Shale-Oil Formation Requires $250 Billion Investment

Harper vows to ensure Northern Gateway is built

Blog Roundup

A Short Oil ETF List (Oil and Gas ETFs)

Creating Incomes Streams to Make More Money (Invest it Wisely)

Bonds – Difficult Buy These Days (Intelligent Speculator)

Tax Free Savings Account power increasing (My Own Advisor)

7 RRSP Contribution Suggestions. (Larry McDonald)

It Will Soon Be Even Easier for the U.S. Military to Kill People (FG)

Carnival Roundup

Yakezie Carnival at Steadfast Finances
Carnival of Financial Camaraderie at Newlyweds on a Budget
Totally Money at 20′s Finances
Canadian Finance Carnival at Canadian Finance Blog
Carnival of Wealth at Control Your Cash
Carnival of Financial Planning at Skilled Investor Blog
Carnival of Retirement at Financial Success for Young Adults

Have a great Weekend!