Canadas economy is done.

[S_Mooj]

Well thanks to our awesome goverments, Royal Dutch Shell, has pulled out of the oil sands.

The second largest oil and gas company no longer wants to do business in Canada. Shell was capable of making huge investments in alberta and canada but instead they just pulled out completely.

Experts on BNN this morning are blaming regulatory uncertainty, who would of thought.

When will this madness end?!?

http://m.huffpost.com/ca/entry/15261730

[S_Mooj]

Oh and better yet trudope is going to an energy conference in Houston today, where shell has its north american head quarters.

Every ones probably laughing at this idoit down there.

[silverdoctor]

If Shell had gone belly up, that would be worrysome. They were bought by another company, tends to happen.

Why all the negativity?

[Map Maker]

i agree.
If you call the stock market guys on BNN "experts", you need news to make decisions.

Shell is such a huge machine, it has to keep adjusting. Its like its own country. I think this is BETTER for Alberta and Canada in the long run.

[elkhunter11]

Originally Posted by S_Mooj

Well thanks to our awesome goverments, Royal Dutch Shell, has pulled out of the oil sands.

The second largest oil and gas company no longer wants to do business in Canada. Shell was capable of making huge investments in alberta and canada but instead they just pulled out completely.

Experts on BNN this morning are blaming regulatory uncertainty, who would of thought.

When will this madness end?!?

http://m.huffpost.com/ca/entry/15261730

Between Notley and Trudeau, they are still driving away the investors that we need.

[hal53]

Originally Posted by elkhunter11

Between Notley and Trudeau, they are still driving away the investors that we need.

Where are all the people that said in regards to raising taxes and royalties et al " where are the oil companies going to go?" well....sounds like they will invest their money anyplace but here.

[S_Mooj]

Its shows a huge trend of giant companies no longer wanting to do business in canada.

How is the second largest oil and gas company leaving canada better for canada?!?

Fewer companies who dont want to invest, less investment less jobs less everything.

So now instead of having both shell and cnrl investing and growing their operations in canada you now just have one.

Judging by the huge anount of cash cnrl just spent, you can almost
Garentee there will be no expansions any time soon.

[super7mag]

Originally Posted by elkhunter11

Between Notley and Trudeau, they are still driving away the investors that we need.

Yep , and the fact that these 2 needed social license to approve the 2 piplelines they damn well new would be tied up in court by BC native communities for years to come.
They never imagined keystone would actually have a chance since Killary was a shoe in.. I can't wait to see how they stone wall this now.

[dmac]

Shell is a world player.

Its has less to do with regulatory issues and more to do with return on capital. Bitumin prices are low, better returns elsewhere. If prices rebound Shell could be back in the game pretty quickly.

They have taken a 9% position in CNRL. That's significant. If you held stock in CNRL your happy, up about 6.5% today.

[fishtank]

http://www.edmontonjournal.com/shell...439/story.html
Signs of big player pulling out ？

[JustMe]

Even giving you the benefit of doubt, no where in your article do I see where Shell decided it no longer wants to do business in Canada. What I did see is they made a sound business deal with CNRL and received 12 billion plus dollars.

Your comments that business's are being forced out of Canada by the various levels of government are pure speculation on your behalf and are your opinion to which you are more than entitled. But remember it is only your opinion, don't try and post it as fact. There are a lot of arguments started on here because of speculation and opinions, not facts.

Originally Posted by S_Mooj

Well thanks to our awesome goverments, Royal Dutch Shell, has pulled out of the oil sands.

The second largest oil and gas company no longer wants to do business in Canada. Shell was capable of making huge investments in alberta and canada but instead they just pulled out completely.

Experts on BNN this morning are blaming regulatory uncertainty, who would of thought.

When will this madness end?!?

http://m.huffpost.com/ca/entry/15261730

[Operator]

Shell isn't leaving Canada. They are actively drilling in a few areas of AB and BC.

[dmcbride]

Originally Posted by JustMe

Even giving you the benefit of doubt, no where in your article do I see where Shell decided it no longer wants to do business in Canada. What I did see is they made a sound business deal with CNRL and received 12 billion plus dollars.

Your comments that business's are being forced out of Canada by the various levels of government are pure speculation on your behalf and are your opinion to which you are more than entitled. But remember it is only your opinion, don't try and post it as fact. There are a lot of arguments started on here because of speculation and opinions, not facts.

What is fact, is that Alberta is no longer as good as it once was for oil and gas to invest in.

http://business.financialpost.com/ne...in-oil-and-gas

Curious why Shell championed the Carbon tax and now is bailing?

[sjd]

Got nothing to do with Alberta or Canadian Government. If the government is going to change in 2 years, why would you abandon a 50 year play?

Shell see the writing on the wall that the ability to make money in the oilsands with its high costs and high emissions for the next 40 years, when all governments are making commitments that they are going to reduce greenhouse gases mean that oilsands is not where you want to be.

They sold to CNRL for sure, but will be interesting to see what kind of a loss they took getting out. 7 billion doesn't seem like much for all those reserves and steel in the ground.

[Okotokian]

Originally Posted by S_Mooj

Well thanks to our awesome goverments, Royal Dutch Shell, has pulled out of the oil sands.

The second largest oil and gas company no longer wants to do business in Canada. Shell was capable of making huge investments in alberta and canada but instead they just pulled out completely.

Experts on BNN this morning are blaming regulatory uncertainty, who would of thought.

When will this madness end?!?

http://m.huffpost.com/ca/entry/15261730

A CANADIAN company is buying a foreign company's assets in Canada, and that's an indication of a disaster? I'm not too sure about that.
CNRL is a pretty sharp company. As well, Shell is taking 98 million shares of CNRL stock as part of the deal. You don't do that if you have no confidence in the environment the company is operating in. Isn't CNRL concerned about "regulatory uncertainty"?

When Shell bought BG group for 70 billion in 2015 they said they were going to divest about 30 billion of assets between 2016 and 2018 to pay for it and reshape the company. I think this is likely largely a result of that. In November/16 the CEO said Cdn oilsands ops were making money. And the other link below leads t a Shell document about growth priorities, which aren't in heavy oil. I think it's a bit speculative and reactive to say they are selling because of Trudeau or Notley's carbon tax.

http://seekingalpha.com/article/3056...es-and-buyback

http://www.shell.com/media/news-and-...-day-2016.html

[Okotokian]

Originally Posted by hal53

Where are all the people that said in regards to raising taxes and royalties et al " where are the oil companies going to go?" well....sounds like they will invest their money anyplace but here.

But Hal, CNRL just invested their money here.

[srs123]

Originally Posted by dmac

Shell is a world player.

Its has less to do with regulatory issues and more to do with return on capital. Bitumin prices are low, better returns elsewhere. If prices rebound Shell could be back in the game pretty quickly.

They have taken a 9% position in CNRL. That's significant. If you held stock in CNRL your happy, up about 6.5% today.

dMAC gets it. this is only about profit. Shell is tooooooooo large for anyone to comprehend. it is a global player with major operations in every part of the world.

bitumen prices are low and thus returns on investment. it also doesn't fit with Shells sustainability culture where the oil sand is seen as a dirtier option.

it is a smart decision when considering other factors as the addition of the Carbon tax and the impossibility of meeting orders set in directive 74 in regards to tailings management.

they will come back once the prices are back up. but that wont be any time soon. am no expert but, my outlook is 2020 or later before prices are back in the $70 range.

[philintheblank]

Originally Posted by Okotokian

A CANADIAN company is buying a foreign company's assets in Canada, and that's an indication of a disaster? I'm not too sure about that.
CNRL is a pretty sharp company. As well, Shell is taking 98 million shares of CNRL stock as part of the deal. You don't do that if you have no confidence in the environment the company is operating in. Isn't CNRL concerned about "regulatory uncertainty"?

When Shell bought BG group for 70 billion in 2015 they said they were going to divest about 30 billion of assets between 2016 and 2018 to pay for it and reshape the company. I think this is likely largely a result of that. In November/16 the CEO said Cdn oilsands ops were making money. And the other link below leads t a Shell document about growth priorities, which aren't in heavy oil. I think it's a bit speculative and reactive to say they are selling because of Trudeau or Notley's carbon tax.

http://seekingalpha.com/article/3056...es-and-buyback

http://www.shell.com/media/news-and-...-day-2016.html

I would have to agree with this. sounds like CNRL is setting themselves up to be a powerhouse in Alberta. Don't they own 50% of NWR as well?

never a bad thing to have a Canadian company running the show for Canadian recourses.

also, if Shell sells their play and gets a butt load of shares from CNRL, then they have freed up a huge some of cash and are still going to see some revenue without the liability of actually running the infrastructure.

just how I see it anyways.

[ForwardBias]

Shell is building shallow cut plants in the duvernay as we speak. The lift costs associated with heavy crude isnt feasible for a company like shell to make money. CNRL and others are leaner. They can lower lift costs, thus improving the profitability of the play.

[lmtada]

Shell Scotford layoff 100 this week. Operators, Instrumnet Tech, Engineere, Management. One relative ,mine let go with had severance package. Been with shell for 12 years. Couple need re-apply for there currrent position.
$50.00 oil, difficult to break even. Not sure discount on Bitumen.

[TBD]

Originally Posted by S_Mooj

Well thanks to our awesome goverments, Royal Dutch Shell, has pulled out of the oil sands.

The second largest oil and gas company no longer wants to do business in Canada. Shell was capable of making huge investments in alberta and canada but instead they just pulled out completely.

Experts on BNN this morning are blaming regulatory uncertainty, who would of thought.

When will this madness end?!?

http://m.huffpost.com/ca/entry/15261730

when the PM of Canada gets up in a "town hall" and talks about when Canada will "phase out" the oil sands.

Unbelievable !

How much has this "miss-speak" (by our PM) cost Alberta ?

TBD


PS ... just one of the things that can happen when peoples of a country vote in a substitute drama teacher as PM

[Okotokian]

Originally Posted by TBD

How much has this "miss-speak" (by our PM) cost Alberta ?

Zero. Corporations don't formulate strategic decisions involving tens of billions of dollars on ten second sound bites.

[Selkirk]

Originally Posted by Okotokian

A CANADIAN company is buying a foreign company's assets in Canada, and that's an indication of a disaster? . . .

Apparently, some people here think it ^ is!


When the recovery comes (and it will), then all the better if more of our resources and assets are owned by 'Canadian' companies!
.

[Jayhad]

Luckily I was wearing my hard hat this morning, I nearly got hit by the falling sky

[Okotokian]

Originally Posted by TBD

you're wrong.

.

You regularly in board rooms??? Do deals?

So the about a hundred ill-informed, off-center comments Trump has made should have sunk the economy by now and started trade wars. And yet nothing..... Sorry, companies take into account just a few more variables..

[silverdoctor]

Blame the government.

The weather is a major factor in this crappy economy as well. You going to blame the govt for that too?

As much as I'd like spring to hit, part of me wishes for a good long freeze up.

[TBark]

Royal Dutch Shell is more focussed on global projects right now, LNG is one.
This buy/ sale is a big deal but not as bad as some think, more share ownership here locally and a good CNRL share price is a good thing.

TBark

[bsmitty27]

8-)

[ryeguy21]

there is no benefit by having one less major global oil company turn their back on their investments in the oilsands.

Its clear that they think the money isnt there... whats the reason for it? You dont bail after so many years and bullions in investment unless your 100% sure its not worth your time.

That should terrify everyone when third world countries and many other dangerous regions of the world are better bets for shell then here in AB.

[Okotokian]

Originally Posted by ryeguy21

there is no benefit by having one less major global oil company turn their back on their investments in the oilsands.

Its clear that they think the money isnt there... whats the reason for it? You dont bail after so many years and bullions in investment unless your 100% sure its not worth your time.

That should terrify everyone when third world countries and many other dangerous regions of the world are better bets for shell then here in AB.

So why did they take the majority of the sales price in stock in a company that's based in and tied to such a dubious environment? If Chrysler thought the day of the automobile was past, would they sell to Ford and take half the purchase price in Ford stock?