Surely some of that will trickle down to the working class right?
Saisinko on
Privatize the profits~
AI, but I asked how many “Canadian” oil producers are actually foreign owned.
“Canada’s biggest oil producers are largely foreign-owned, even though they’re branded as Canadian companies.
The Big Four (80% of Oil Sands Production)
– The Pathways Alliance members — Canadian Natural Resources (CNRL), Cenovus, Imperial Oil, and Suncor — collectively control 80% of oil sands output and are on average 73% foreign-owned, 60% American-owned.
Breakdown by company:
– Imperial Oil — ~70% owned by ExxonMobil (US); only ~8% Canadian-owned
– Cenovus Energy — largest shareholders are Hong Kong’s Li Ka-Shing family (~30%) plus US investment firms; heavily foreign-controlled
– Canadian Natural Resources — four of its five largest shareholders are American investment managers
– Suncor — most “Canadian” of the four at ~41% Canadian ownership, but still majority foreign”
Gym_frere on
The single worst decision in our nation’s history was privatizing Petro-Can instead of investing in its growth, like Norway did with Equinor.
nyrangerfan1 on
Found a way to finance the defense spending increases.
LivingIntelligent968 on
Good for Alberta, I just hope the extra money goes towards improving housing, healthcare and I’m sure many more under funded agencies.
CarrotLevel99 on
If only we had more pipelines.
ProudVancouverLL on
Oh no good financial news coming out of Alberta? How will Reddit cope with this?
AWinnipegGuy on
There’s a bit too much “Canada” in that headline for how little of that money will stay in Canada.
chocolateboomslang on
Guess they can finally get to fixing those dead wells!
Right?
Uncertn_Laaife on
But make sure all this money won’t reach the bottomline. So eff it, who cares.
KrazyCroat on
Oh wonderful news! This will trickle down to the working class, and improve the daily lives or all Canadians right?
…right..?
KWStreaker on
The producers will bank LARGE during this. Will the average consumer see any benefit at the pumps ? HELL NO
trebuchetwarmachine on
Windfall tax
Independent-End5844 on
Imagine that. Price gouging off of a crisis that is on the otherside of the world, that did not actually impact local supply.
bunsaiii on
I noticed in QC, they are lowering now gasoline by micro cents?! Is this happening in other provinces? For example, 179.9 -> 179.7. It started earlier this year, never went below 134.3. Regular gas stations, not at Costco.
Maybe we someone needs to look into this, I remember Kenny was saying something like that during Covid and all of a sudden the prices dropped 10 cents overnight.
scanthethread2 on
And poor Danielle Smith’s thesis that it was the immigrants causing her government’s deficit goes out the window as the province with a dependent economy on a volatile commodity reaps the benefits of a war.
Totally_Generic_Name on
Remember: it’s not value from nothing, it’s money getting extracted from everyone else and funneled into the same companies as usual
JohnDorian0506 on
Have Canadian oil producers thanked Trump?
buddyguy_204 on
Good, 60% of that should go back to the Canadian people.
Oxjrnine on
We have Canadian oil producers left?
baconroux on
And how much of that will trickle down?
Sushyneutah on
Alberta will use this to clean up the abandoned wells, rite?
Tax the oil companys to clean the wells… Rite?
sortaitchy on
“It’s an ill wind that blows nobody good,” my mom used to say.
Growing up during WWII she also said that “War seemed to be good business.”
Correct on both counts, I guess
chrismceachern on
**INVEST!!!**
This is a huge transition period for Canada which means huge opportunities – get in early! $100, $1,000, whatever you can afford. Now is the time to take it seriously. Talk to your bank asap, open a TFSA and get started.
Some LNG / gas companies from Alberta have jumped like +30% in the past month.
I really dont think its too late to hop on the bandwagon.
Responsible_CDN_Duck on
>Canada’s oil producers in line for C$90bn windfall from Iran war
Not tax payers, or the governments…
lazarus870 on
I hope we don’t leave our allies in the lurch for energy just like Justin did with Germany
pointgetter on
just another thread hating on alberta. like clockwork in this sub.
Admiral_poopy_pants on
Can they pls invest in some pipelines?
PlatypusMaximum3348 on
Maybe decrease your profits and help Canadians afford gas..
But no greed lives on
No-Wonder1139 on
Hey so why did gas go up 60 Cents a litre then?
Ronbb33 on
Canadian pension plans better be getting a slice at least.
JadeLens on
Surely out of that money the oil companies can pay for their own pipeline… right…?
UnionGuyCanada on
So, private investors must be scrambling to do this, right? Not like this is a shirt term issue that we can never expand into quickly enough?
This is gping to force world players even harder into renewable. Being tied to a product that has to be shipped arpund the world to keep functioning, when renewable and nuclear solves much of these issues opens us up to many liabilities.
Better to have energy independence as many countries are repaying benefits from during these times.
Weird_Rooster_4307 on
You mean the Americans that own the oil and natural gas being pumped out of Canada can expect a winfall.
17ywg on
This is Canada’s last chance to get rich off oil. Let’s drill baby drill! Every province should get their own national pipeline!
Cortical on
can’t read because paywall, but like, if we assume oil selling at $80 more than without the Iran war at 5.8 million bpd oil production, that would require that price increase to hold for 140 days before getting to $90bn
I get that it’s unlikely for this issue to resolve itself tomorrow, but maybe let’s not try and predict the future
I_AM_THE_NOISE on
And of course they will pass that along to the Canadian consumer!
37 Comments
Surely some of that will trickle down to the working class right?
Privatize the profits~
AI, but I asked how many “Canadian” oil producers are actually foreign owned.
“Canada’s biggest oil producers are largely foreign-owned, even though they’re branded as Canadian companies.
The Big Four (80% of Oil Sands Production)
– The Pathways Alliance members — Canadian Natural Resources (CNRL), Cenovus, Imperial Oil, and Suncor — collectively control 80% of oil sands output and are on average 73% foreign-owned, 60% American-owned.
Breakdown by company:
– Imperial Oil — ~70% owned by ExxonMobil (US); only ~8% Canadian-owned
– Cenovus Energy — largest shareholders are Hong Kong’s Li Ka-Shing family (~30%) plus US investment firms; heavily foreign-controlled
– Canadian Natural Resources — four of its five largest shareholders are American investment managers
– Suncor — most “Canadian” of the four at ~41% Canadian ownership, but still majority foreign”
The single worst decision in our nation’s history was privatizing Petro-Can instead of investing in its growth, like Norway did with Equinor.
Found a way to finance the defense spending increases.
Good for Alberta, I just hope the extra money goes towards improving housing, healthcare and I’m sure many more under funded agencies.
If only we had more pipelines.
Oh no good financial news coming out of Alberta? How will Reddit cope with this?
There’s a bit too much “Canada” in that headline for how little of that money will stay in Canada.
Guess they can finally get to fixing those dead wells!
Right?
But make sure all this money won’t reach the bottomline. So eff it, who cares.
Oh wonderful news! This will trickle down to the working class, and improve the daily lives or all Canadians right?
…right..?
The producers will bank LARGE during this. Will the average consumer see any benefit at the pumps ? HELL NO
Windfall tax
Imagine that. Price gouging off of a crisis that is on the otherside of the world, that did not actually impact local supply.
I noticed in QC, they are lowering now gasoline by micro cents?! Is this happening in other provinces? For example, 179.9 -> 179.7. It started earlier this year, never went below 134.3. Regular gas stations, not at Costco.
Maybe we someone needs to look into this, I remember Kenny was saying something like that during Covid and all of a sudden the prices dropped 10 cents overnight.
And poor Danielle Smith’s thesis that it was the immigrants causing her government’s deficit goes out the window as the province with a dependent economy on a volatile commodity reaps the benefits of a war.
Remember: it’s not value from nothing, it’s money getting extracted from everyone else and funneled into the same companies as usual
Have Canadian oil producers thanked Trump?
Good, 60% of that should go back to the Canadian people.
We have Canadian oil producers left?
And how much of that will trickle down?
Alberta will use this to clean up the abandoned wells, rite?
Tax the oil companys to clean the wells… Rite?
“It’s an ill wind that blows nobody good,” my mom used to say.
Growing up during WWII she also said that “War seemed to be good business.”
Correct on both counts, I guess
**INVEST!!!**
This is a huge transition period for Canada which means huge opportunities – get in early! $100, $1,000, whatever you can afford. Now is the time to take it seriously. Talk to your bank asap, open a TFSA and get started.
Some LNG / gas companies from Alberta have jumped like +30% in the past month.
I really dont think its too late to hop on the bandwagon.
>Canada’s oil producers in line for C$90bn windfall from Iran war
Not tax payers, or the governments…
I hope we don’t leave our allies in the lurch for energy just like Justin did with Germany
just another thread hating on alberta. like clockwork in this sub.
Can they pls invest in some pipelines?
Maybe decrease your profits and help Canadians afford gas..
But no greed lives on
Hey so why did gas go up 60 Cents a litre then?
Canadian pension plans better be getting a slice at least.
Surely out of that money the oil companies can pay for their own pipeline… right…?
So, private investors must be scrambling to do this, right? Not like this is a shirt term issue that we can never expand into quickly enough?
This is gping to force world players even harder into renewable. Being tied to a product that has to be shipped arpund the world to keep functioning, when renewable and nuclear solves much of these issues opens us up to many liabilities.
Better to have energy independence as many countries are repaying benefits from during these times.
You mean the Americans that own the oil and natural gas being pumped out of Canada can expect a winfall.
This is Canada’s last chance to get rich off oil. Let’s drill baby drill! Every province should get their own national pipeline!
can’t read because paywall, but like, if we assume oil selling at $80 more than without the Iran war at 5.8 million bpd oil production, that would require that price increase to hold for 140 days before getting to $90bn
I get that it’s unlikely for this issue to resolve itself tomorrow, but maybe let’s not try and predict the future
And of course they will pass that along to the Canadian consumer!