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Originally Posted by MacLac
"Cling" to that? Cuz it's true. World demand is going up....we "pro" oil'ers don't have to cling to anything. Btw, if you work up in Rainbow Lake...it's ALL Nat Gas up there.....it ain't the "oil patch there...but rather the "Nat Gas" patch....just saying......
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Your logic is common in Alberta and why I fear for the province's future.
Yes, as we have gone thru a thousand times, world demand is still rising and is expected to crest in about 2 to 3 years. Much of the increase in demand in the last 15 years has been due to the developing world and especially the two giants in the room, China & India.
Despite this however, oil prices today are the same as they were in 2005. Prices are not only a reflection of demand but also supply and the world has more oil than it knows what to do with. When you consider that one of the world's largest exporters, Venezuela, is out of the game, the price levels are even worse as eventually Maduro will be overthrown and Venezuela will start pumping oil again adding to world supply and depressing prices. Actually if Alberta was to see all of it's pipeline dreams come true and Alberta can actually start exporting huge amounts of oil, world prices will fall because of it.
Oil will always be part of Alberta's economy as the world will always need oil for a variety of things but it's biggest usage of transportation and electrical production are quickly coming to an end. The sad thing is Albertans know it but just don't want to accept it and it will be the young Albertans who pay the price for Alberta's lack of vision.
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