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That Pipeline

trysail said:

If it is your intent to have others conclude that you are a lobotomized automaton, repetition of that kind of response will do the trick.


Click to expand...

If you keep posting about how money is more important than anything else in the universe, no other response is needed.
 
TexasWife25 said:
Thats a shame :/ Pipeline oil spills are some of the worst kind of spills because of how difficult they are to clean up.
Click to expand...

Yup..I'm all for pipelines, but I'm also for very strict environmental regs.

There is enough money in oil to take proper care against accidents as well.
 

You can thank the dolts who have sabotaged the Keystone XL pipeline. The Chinese and the Canadians are laughing at the idiots in the U.S. who have played right into their hands. I guaran-damn-tee you there will be an export pipeline built to the Canadian west coast.
____________________



http://www.bloomberg.com/news/2012-...exen-for-15-1-billion-to-expand-overseas.html



Cnooc Buys Nexen for in China’s Top Overseas Acquisition
By Aibing Guo and Jeremy van Loon
July 23, 2012

Cnooc Ltd. agreed to pay $15.1 billion in cash to acquire Canada’s Nexen Inc. in the biggest overseas takeover by a Chinese company.

China’s largest offshore oil and natural-gas explorer is paying $27.50 for each common share, a premium of 61 percent to Calgary-based Nexen’s closing price on July 20, according to its statement to the Hong Kong stock exchange yesterday. Nexen’s board recommended the deal to its shareholders...

***​

...Nexen’s oil and gas assets include production platforms in the North Sea, the Gulf of Mexico and in Nigeria, as well as oil-sands reserves at Long Lake, Alberta, where it already produces crude in a joint venture with Cnooc. Those assets produced 207,000 barrels a day in the second quarter, which would boost the Chinese company’s output by about 20 percent. About 28 percent of Nexen’s current production is in Canada...

***​

...The Nexen takeover comes as Canadian companies prepare to build new pipelines for transporting Canadian fossil fuel to Asia in an effort to reduce its dependence on the U.S. market, which has depressed prices for crude produced in Alberta’s oil sands and the Bakken in Saskatchewan.

“The political context in Canada is very good at the moment,” said Wenran Jiang, the Mactaggart Research Chair of the China Institute at the University of Alberta who advised the Alberta government on Chinese investment. “The Chinese have been careful to step up their involvement in Canada slowly. This isn’t coming out of nowhere.”

The transaction follows the Chinese company’s takeover of Nexen’s partner Opti Canada Inc. last year and the $19 billion bid for Unocal Corp. in 2005, which was blocked by political opposition in the U.S...

***​

...Nexen has been searching for a new CEO since Marvin Romanow stepped down in January amid a slumping share price and missed production targets. Nexen’s market value had plunged 60 percent before yesterday from a high of C$43.45 in June 2008 as prices fell for natural gas, which accounts for about 20 percent of output. Production growth also slowed more than the company expected because of setbacks at projects in Canada’s oil sands and in the North Sea.


Barrel Value
Cnooc will add 900 million barrels of oil equivalent reserves at $19.94 per barrel through the deal, according to a document posted to the company’s website. Cnooc plans to boost output by as much as 2.7 percent this year to the equivalent of as much as 930,000 barrels of oil a day...

***​

...Calgary will become one of Cnooc’s international headquarters and the operations hub for overseeing an additional $8 billion in assets in North and Central America. The Chinese company will also list its shares on the Toronto exchange, it said in the statement...

Canadian Appeal
Canada has become a fertile area for Chinese oil producers seeking to add oil and gas reserves to meet demand in the world’s largest energy-consuming country. After yesterday’s deal, Chinese companies will have spent about $49 billion on buying Canadian fields and oil companies... In contrast, they’ve laid down just $3.5 billion in U.S. acquisitions.

The deal will cement Cnooc’s position in Canada’s oil sands after last year’s $2.4 billion purchase of Opti Canada. When the transaction closes, Cnooc will own all of Long Lake, which plans to produce 72,000 barrels a day using steam to melt the tar-like oil out of the sands...

Reassuring Foreigners
Prime Minister Stephen Harper is seeking to assure foreign companies the country is open to investment...



http://www.bloomberg.com/news/2012-...exen-for-15-1-billion-to-expand-overseas.html
Click to expand...
 
Canada and CHina are concluding a deal to send the oil to China for further economic growth.


Even Pelosi is alarmed now.

Posted it yesterday...

We don’t prevent pollution, we export it (along with our jobs).
A_J, the Stupid

:(

Good thing we still have fracking and natural gas to fight against!

Onward Eco-Soldiers,
Marching off to war!
With the cross of poverty,
Going on before...
 
We will all be happier when China is the world's leading polluter and we can complain to the UN to put sanctions on them...



:nods: moneymoneymoneymoneyoffshoredmoneyoffshoredmoneyoffshoredmoneyoffshoredmoney...
 
Don't vote for Romney!


He offshores JOBS!

We don’t prevent pollution, we export it (along with our jobs).
A_J, the Stupid
 
God forbid we should clean up our own yard first. "But the neighbors throw shit in the river!"
 
http://www.bloomberg.com/news/2012-...6-unemployment-from-13-is-new-canada-way.html



Commuting to 4.6% Unemployment From 13% Is New Canada Way
By Greg Quinn
August 1, 2012

Kirk Penney has endured commutes of eight-hour flights and one-hour refueling stops between his home in Charlottetown, Newfoundland, and Canada’s booming oil industry out west for the past five years.

The 30-year-old electrician works 14 days in and seven out at Alberta-based Suncor Energy Inc.’s Firebag oil-sands project for contractor URS Corp., nearly tripling his pay to around C$150,000 ($149,500). He stays in touch with morning phone calls to his two young children and night calls to his wife.

“It provides a good lifestyle for my kids,” Penney said around dawn in Toronto’s airport at a stopover on a midnight flight from Fort McMurray, Alberta. “That’s the only reason I’m doing it. Living in Newfoundland is mostly hand-to-mouth.”

While Penney and his wife have talked about whether to move to Alberta, they have chosen to stay in Newfoundland, on Canada’s eastern coast. With two small kids, “we like the local atmosphere,” he said. “Everybody knows everybody.”

Long-distance commuters such as Penney are filling the gap in Canada’s labor market as western companies are desperate for workers to develop the world’s largest crude-oil reserves outside Saudi Arabia and Venezuela. Meanwhile, seasonal laborers in struggling forest and fishing towns in eastern provinces face government cutbacks in jobless benefits they draw on in off- seasons.

Federal rules starting this month may oblige frequent users of employment insurance to take a job that pays 70 percent of their past wages and in some cases to accept work that has a one-hour commute or face a cutoff of benefits that pay a maximum of C$485 a week.

Accelerate Exodus
Fisherman Michael McGeoghegan says the policies are another blow to a region suffering from drops of as much as 50 percent in the prices for some catches and will accelerate the exodus of young workers.

“The weather makes it seasonal; it’s not seasonal because we make it that way,” said McGeoghegan, president of the Prince Edward Island Fisherman’s Association, who has for 34 years hauled in lobster, scallops, crab, mackerel and herring. “We’re Canadian citizens, too; we have a right to live in the eastern part of Canada just like anybody else.”

The new requirements are needed to lower unemployment and bridge regional disparities, said Peter Jarrett, head of the Canada division for the Paris-based Organization for Economic Cooperation and Development.

“The incentives just weren’t there for many people to do something about their situation because they could survive on pogey,” he said in an interview in Ottawa, using slang for jobless payouts.

13 percent
Unemployment in Newfoundland was 13 percent in June, above the 4.6 percent rate for Alberta and 7.7 percent for Ontario, Canada’s most populous province. Alberta also paid the highest weekly wage of any province in May at C$1,057, compared with C$919 in Newfoundland and C$745 on Prince Edward Island, the country’s lowest.

Even with this lopsided performance, Canada has recovered lost output ahead of other Group of Seven nations after the 2008 global financial squeeze, according to Finance Minister Jim Flaherty’s latest annual budget presented in March.

Companies such as Enbridge Inc. and Cenovus Energy Inc., both based in Calgary, are pulling workers west as production of Canadian crude oil will more than double to 6.2 million barrels a day by 2030, according to the Canadian Association of Petroleum Producers. That suggests the demand for workers will increase, threatening to boost the cost of new pipelines and oil wells.

Labor Costs
“My concern really more is down the road,” Enbridge President Al Monaco said after a June 18 speech in Toronto. Liquefied natural-gas export projects in British Columbia, along with the company’s plans to pipe Alberta oil-sands crude oil to the Pacific Coast, “will certainly put a lot more pressure on labor costs going forward.”

Canada’s forestry employment has fallen by 4.2 percent this year to 38,700 while at mining and energy companies, the number of positions has risen 2.7 percent to 218,000, according to Statistics Canada, the nation’s economic-data agency. In 2007, forestry employment was 53,700, and mining and energy was 186,200.

A Newfoundland government study found that as many as 10,600 of its citizens had worked in Alberta in 2009 and 2010. That exceeded the roughly 6,200 employed on fishing boats in 2010 in a province whose beginnings were rooted in catching cod. Fishing and hunting jobs fell 35 percent in 2010 from 2000, the study showed.

Fishing Decline
The population in Red Harbour has dropped to about 200 from a peak of 350 on the fishing industry’s decline and “the enticement” of high-paying Alberta jobs, including ones with monthly commutes, according to the town’s website.

“Their wives are staying here raising the family, and the men are just coming home for like a week a month,” Deputy Mayor Michelle Rowe said in a telephone interview.

She says her fisherman husband won’t benefit from the new employment-insurance rules that require a one-hour drive to a minimum-wage job.

“That’s eighty dollars he’s going to make, minus the money to pay for a babysitter and extra drive; he’s not going to make much money anyway.”

The rules merely give some clear definition to the existing system, which already requires people to seek out appropriate work while drawing government benefits, said Diane Finley, the federal human-resources minister. The measures are geared to reflect local labor-market conditions and the availability of public transit or child-care costs, she said.

‘Reasonable Distance’
“If there are jobs available for which they are qualified within a reasonable distance, then yes, they should be able to take them because they are still better off” with most positions than they are on government assistance, she said.

Long-distance commuters such as Dave Adams don’t begrudge their countrymen the benefits and say the government is wrong to make changes.

“I don’t agree with what they are doing,” said Adams, a 48-year-old from Newfoundland who does scaffolding work for Canadian Natural Resources Ltd. and has made the Alberta trips since 2007. “I don’t think they should be allowed to touch unemployment.”

At the Toronto layover on a July 19 flight from Fort McMurray to St. John’s, Newfoundland, dozens of men fill the lounge, dressed in jeans, baseball caps from companies such as Suncor and Horizon North Logistics Inc., and summer jackets from Newfoundland sports teams. Few bother to get coffee to keep awake.

Delayed Flight
There is grumbling on the ground as the flight is delayed. Finally onboard, one man falls asleep the moment his row fills up. Over Quebec, Air Canada staff announce that connecting flights to Newfoundland communities such as Deer Lake and Gander probably will be held for 14 of the passengers.

Once at St. John’s, everyone leaves the airport within 30 minutes of landing, several parting with “See you in a week.”

The following morning, Tony Martin waits for a flight to Fort McMurray to a warehouse job in his second rotation out west. The 47-year-old was lured by the chance to double his pay after working 23 years in the province’s public-health system.

“It’s a sacrifice but I’m in an ideal place; I am single and my daughter is 18 years old,” Martin said, adding that other people shouldn’t have to choose between losing jobless benefits and working away from their families.

“What the government has done is very black and white, cut and dry to a problem that isn’t,” he said. “You can’t buy their childhood back.”

On Penney’s flight to see his wife and two kids, he manages to get some sleep, helped by his practice of staying up for 24 hours before he leaves. After he lands, he still faces a two- and-a-half hour drive.

The length of the commute “really gives you five days home” instead of seven, Penney said. “You really can’t get ready for it.”




http://www.bloomberg.com/news/2012-...6-unemployment-from-13-is-new-canada-way.html
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