Another victory for the tree huggers?

[Dougie93]

5 minutes ago, cannuck said:

.  Who ever is telling you they have no problems hasn't got a frigging clue.

That doesn't mean Canada is doing better, the Government of Canada is sabotaging its own oil industry and getting less revenue than even Venezuela therein.

 

[cannuck]

13 minutes ago, Dougie93 said:

None the less, Venezuela is actually doing better than Canada on gross oil revenue, Venezuela is getting $53 USD for a barrel of its oil compared to only $41 USD for Canadian.

No, WCS (Western Canada Select Blend) is around $40/bbl.  Canada produces an awful lot of light crudes, that sell for similar to WTI prices.  Synthetic crude from the upgraders in the Athabasca sands sell for a premium over WTI.  Venezuela produces very little light oil, mostly extra heavy from the Orinoco belt and that sells WAY below any lights or medium crudes.  Not only that, but Venezuela has dropped to 750,000 to 900,000 bbls/day over last half of 2019, whereas Canada is up around 4.8MM bbls/day.   So, no Venezuela comes no where near Canada's gross oil revenue.

[Dougie93]

10 minutes ago, cannuck said:

   So, no Venezuela comes no where near Canada's gross oil revenue.

Not true, Venezuela takes 100% of the revenue, Canada only takes royalties, Alberta only collected $2.37 billion on $53 billion in oil revenue.

Venezuela took in $34 billion,  that's 14 times the gross revenue which Alberta collected.

Edited December 13, 2019 by Dougie93

[cannuck]

8 hours ago, Dougie93 said:

Not true, Venezuela takes 100% of the revenue, Canada only takes royalties, Alberta only collected $2.37 billion on $53 billion in oil revenue.

Venezuela took in $34 billion,  that's 14 times the gross revenue which Alberta collected.

I don't know where you got your numbers, or what period of time they are supposed to represent, but Venezuela doesn't get the oil money, PDVSA does.  Since PDVSA makes not profit, and 100% of oil revenue is used to operate PDVSA and pay PDVSA's corporate bonds, Venezuela per se gets nothing.  Maduro, on the other hand, and his cronies do quite well. Similarly, royalties are but one small part of the revenue to government from Canadian oil production.   Alberta is about half with SK/BC/Nfld making up most of the rest.  From the quarter billion dollars A DAY that Canada grosses (using that properly) Alberta's royalties are only a small part of what governments see.  Corporate taxes, individual income taxes, property taxes, GST and PST (obviously not that one in AB) eat up some significant fraction of that gross domestic revenue.  From employee compensation alone (the largest component of cost) over half goes to taxes at various levels.