DISMAL PROSPECTS AHEAD
FOR ALBERTANS
Mike Priaro, P. Eng.
First uploaded October 23, 2018
In August 2018, City of Calgary utility Enmax’ floating retail natural gas price was $0.58/GJ, or $0.61/mcf. Add in a transaction fee (who gets that I wonder?) of $0.47/GJ, or $0.50/mcf, and Calgarians were obtaining natural gas for only $1.11/mcf.
On Tuesday, Oct. 23, 2018 Western Canada Select was going for U$16.14/bbl, or C$21.14/bbl.
No Alberta producer can make money on either natural gas or oil sands crude at such prices.
Prepare for dismal corporate results next reporting quarter, along with more industry job losses if such discounted prices continue.
All because Albertans have no oil or gas pipelines to access new foreign markets from either east or west coast tide-water.
Mike Priaro, P. Eng.
Calgary
403-281-2156
