It's not just government policy that's a problem in Canada, they've got eco-terrorists that have attacked oil workers and pipeline workers. One of the points brought up by the trucker's convoy people was that these anti-oil terrorists where handled with kid gloves by the government, iirc they weren't even prosecuted.
Thanks for another excellent column. I am looking forward for tomorrow's space.
In a previous cycle, Canadian dollar would reach a near parity with US dollar when oil price is as strong as today. Canadian dollar, however, remains very weak (about 29% from the parity) in the current cycle. How much of the current high ROCE of Canadian energy producers is due to the weak currency?
By the way, if one just wants to be a passive listener in a Twitter Space, one can use any desktop web browsers.
Thank you Tonyforever. I always appreciate your kind words about the posts. Great observation about C$/US$...My guess is Fed rate hikes are trumping oil px...though I am of course not a currency expert. No doubt, US$ sales with C$ costs help. I don't have the math on how much of a benefit it is for Canadian oils say YTD...I would guess the vast bulk of the improvement in ROCE is due to oil price with the C$ cost benefit a minor factor. Next time I catch-up with one of the Street analysts that are actively covering the Canadian oils, I can ask.
And great to hear that you can listen in to a Twitter space on a browser. My guess is the iPad app and Twitter/Tweeten apps is where I didn't have success.
It's not just government policy that's a problem in Canada, they've got eco-terrorists that have attacked oil workers and pipeline workers. One of the points brought up by the trucker's convoy people was that these anti-oil terrorists where handled with kid gloves by the government, iirc they weren't even prosecuted.
Hi Arjun,
Thanks for another excellent column. I am looking forward for tomorrow's space.
In a previous cycle, Canadian dollar would reach a near parity with US dollar when oil price is as strong as today. Canadian dollar, however, remains very weak (about 29% from the parity) in the current cycle. How much of the current high ROCE of Canadian energy producers is due to the weak currency?
By the way, if one just wants to be a passive listener in a Twitter Space, one can use any desktop web browsers.
Thank you Tonyforever. I always appreciate your kind words about the posts. Great observation about C$/US$...My guess is Fed rate hikes are trumping oil px...though I am of course not a currency expert. No doubt, US$ sales with C$ costs help. I don't have the math on how much of a benefit it is for Canadian oils say YTD...I would guess the vast bulk of the improvement in ROCE is due to oil price with the C$ cost benefit a minor factor. Next time I catch-up with one of the Street analysts that are actively covering the Canadian oils, I can ask.
And great to hear that you can listen in to a Twitter space on a browser. My guess is the iPad app and Twitter/Tweeten apps is where I didn't have success.