Author Topic: PWE - Penn West Petroleum  (Read 268623 times)


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Re: PWE - Penn West Petroleum
« Reply #1060 on: April 22, 2017, 07:03:25 AM »
I agree.  No reason for Canada to argue with President Trump at every utterance.  Just let him go and he'll probably move along on his own.  Of course, that doesn't mean Mr. Tredeau should stick his head in the sand and not be prepared.  I just don't think picking fights early on will be fruitful and is probably counterproductive.

I am heavy into Canadian oil and gas, which hasn't been that rewarding so far this year.  I don't think the BAT has much of a chance of happening, but US oil storage has not moved like I would have hoped.  I think that PWE and some other Canadian oil companies are attractive here and will do well from here over the next year or few.  Looking forward to PWE's 1st quarter report.


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Re: PWE - Penn West Petroleum
« Reply #1061 on: April 22, 2017, 09:38:06 AM »

What do you propose Trudeau do?  For once I think the best action is to sit back and watch the game unfold.  Trump is just throwing out an endless stream of nonsense.

Maybe you are right and he should remain calm since the attacks are beyond oil and against the dairy and lumber as well.   Trump is all over the place.  But in terms of oil, he needs to get his top export to other buyers, including domestically.  Build some more pipelines, and let the US know that if they do not want his oil, others will.   There are signs of more pipeline approvals coming so maybe it is a work in progress.

The PM is in a balancing act.   To get re-elected he needs to be seen to be doing something good for the environment, AND simultaneously looking after our oil and gas resources.  Nat. Gas pipe to the West coast is a reasonable compromise.  It gets us off total US dependence and is not totally unpalatable to environmentalists. 

It is interesting that Nat. Gas prices have stayed high.  I am working on the assumption that there are more and more small gas power plants coming online, as a cheaper, cleaner replacement for coal.  I toured a cogen. plant a few years ago North of TO.  It used natural gas to heat water for nearby buildings, generated power for the grid, and was automated, with no employees on site. 
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