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Why Canadian Natural is bullish on oil, with or without Keystone XL

Financial Post -- Canadian Natural Resources Ltd. is betting the Keystone XL pipeline will eventually get the go-ahead and believes the deep discounting on Canadian oil caused by pipeline bottlenecks is already on its way out.

Even if it’s wrong about Keystone XL, the large heavy oil producer said it will push ahead with other transportation options before dialing down its oil growth plans, backing up what the U.S. State Department said last week in its environmental assessment of the proposed pipeline from Alberta to the U.S. Gulf — that Canada’s oil will be produced, no matter what.

Of course, oil companies have been wrong before. But if Canadian Natural is right this time, it would mean the end of an 18-month chapter that started with rejection of the pipeline by the U.S. president, under pressure from

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Submitted Mar 08, 2013 By: Nicoalbum

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honda0105 Champion Author Tallahassee Posts:18,834 Points:1,638,195 Joined:Nov 2008	Message Posted: Mar 12, 2013 5:59:42 AM Ignore honda0105 Report Abuse FrankLee: good point and indeed, tar sands are even more extracted b/c oil need to be steamed out of the base.
FrankLee1 Veteran Author Minnesota Posts:250 Points:13,810 Joined:Feb 2013	Message Posted: Mar 9, 2013 8:11:14 PM Ignore FrankLee1 Report Abuse I strongly disagree when the media says oil is "produced"- IT'S NOT; IT'S EXTRACTED... from a pool that is finite for all practical purposes.
otherdave Champion Author Indiana Posts:3,535 Points:1,296,860 Joined:Oct 2008	Message Posted: Mar 9, 2013 7:09:11 AM Ignore otherdave Report Abuse ok
NedW Champion Author Indianapolis Posts:5,755 Points:1,168,970 Joined:Mar 2008	Message Posted: Mar 9, 2013 6:10:05 AM Ignore NedW Report Abuse Thank you for submitting this article, Nicoalbum.
wshutton Champion Author Los Angeles Posts:1,812 Points:952,765 Joined:Mar 2009	Message Posted: Mar 9, 2013 1:50:39 AM Ignore wshutton Report Abuse Oil always finds a way.
MAC48 Champion Author Dallas Posts:1,581 Points:789,295 Joined:Dec 2006	Message Posted: Mar 9, 2013 12:56:38 AM Ignore MAC48 Report Abuse Keep the faith Canadian oil interest. Your crude oil production will get to markets as soon as new pipelines are built to the south (Keystone XL) or to the East or to the West or maybe all three directions.
rahcat Champion Author Grand Rapids Posts:2,700 Points:690,875 Joined:Jan 2010	Message Posted: Mar 9, 2013 12:32:47 AM Ignore rahcat Report Abuse Keystone XL will never be approved by Obama and his EPA minions.
Focus2 Champion Author Illinois Posts:7,910 Points:1,928,475 Joined:Mar 2006	Message Posted: Mar 9, 2013 12:29:28 AM Ignore Focus2 Report Abuse Deep discounted Canadian Bitumen or tar sands oil to the Wood River refinery did nothing to bring down prices at the pump here in Illinois!
preacherjohn Champion Author Modesto Posts:4,100 Points:1,944,265 Joined:May 2006	Message Posted: Mar 9, 2013 12:26:19 AM Ignore preacherjohn Report Abuse Money talks..
crreed1 Champion Author West Virginia Posts:2,105 Points:2,551,690 Joined:May 2005	Message Posted: Mar 9, 2013 12:25:33 AM Ignore crreed1 Report Abuse sounds like BS
mlmeng Champion Author Michigan Posts:1,780 Points:619,285 Joined:Mar 2011	Message Posted: Mar 9, 2013 12:22:54 AM Ignore mlmeng Report Abuse Someone will make money.
Tsunamiron Champion Author Jacksonville Posts:1,574 Points:586,500 Joined:Mar 2011	Message Posted: Mar 9, 2013 12:22:19 AM Ignore Tsunamiron Report Abuse I don't really care any more. I want a plug-in electric vehicle.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Mar 9, 2013 12:18:51 AM Ignore tedjm1 Report Abuse Joint venture?
EVBuddy Champion Author Nevada Posts:16,835 Points:3,059,295 Joined:Sep 2004	Message Posted: Mar 9, 2013 12:18:50 AM Ignore EVBuddy Report Abuse SOme people are bullish
granitestater Champion Author New Hampshire Posts:8,987 Points:1,459,425 Joined:Oct 2008	Message Posted: Mar 9, 2013 12:16:47 AM Ignore granitestater Report Abuse Keystone XL and Canadian Natural? Is this a story about beer??
mcbrownie220 Sophomore Author Toledo Posts:225 Points:174,625 Joined:Jun 2012	Message Posted: Mar 9, 2013 12:13:20 AM Ignore mcbrownie220 Report Abuse ok
yyc2yow All-Star Author Ottawa Posts:787 Points:597,845 Joined:Dec 2009	Message Posted: Mar 9, 2013 12:12:22 AM Ignore yyc2yow Report Abuse We should build our own refineries up here! I agree with this comment
obimerrill Champion Author Cincinnati Posts:1,585 Points:318,390 Joined:Jul 2012	Message Posted: Mar 9, 2013 12:12:09 AM Ignore obimerrill Report Abuse Of course...they can sell it for higher And or sell more of it so they make out either way!
PrinceLH Champion Author Ontario Posts:2,832 Points:565,745 Joined:Jun 2011	Message Posted: Mar 9, 2013 12:11:32 AM Ignore PrinceLH Report Abuse We should build our own refineries up here!
Aviator_Rob Champion Author New York Posts:3,992 Points:441,265 Joined:Mar 2012	Message Posted: Mar 9, 2013 12:09:50 AM Ignore Aviator_Rob Report Abuse @OGW, you just argued against your own position. One factor that's keeping crude prices down in the northern plains states is the fact that there's a glut of Alberta oil that is landlocked. If it does get out, gas prices WILL go up in that region of the country. Why would we want to help that along with Keystone??? We do not and never had a sweetheart deal for Alberta tar sands at a discounted price. Canada wants top dollar for that semi-solid asphalt they call tar sands. It's not a matter of Canada being forced to sell overseas. They WANT to sell it overseas. They want the most money possible for it, even if it means we have to pay more, too. Now, why would we want to help them???
SteelPenny Champion Author Dallas Posts:31,303 Points:2,634,665 Joined:Sep 2005	Message Posted: Mar 9, 2013 12:08:35 AM Ignore SteelPenny Report Abuse Go for it Canada.
Robert44 Champion Author Columbus Posts:3,668 Points:1,244,955 Joined:Mar 2004	Message Posted: Mar 9, 2013 12:08:31 AM Ignore Robert44 Report Abuse Drill Baby Drill!!!
DrLyon Champion Author Michigan Posts:6,769 Points:1,239,365 Joined:May 2006	Message Posted: Mar 9, 2013 12:06:58 AM Ignore DrLyon Report Abuse Good....
Bubba44612 Champion Author Ohio Posts:7,536 Points:1,905,360 Joined:Aug 2005	Message Posted: Mar 9, 2013 12:06:39 AM Ignore Bubba44612 Report Abuse All that oil is going to China anyways.
yakstar Champion Author Montreal Posts:2,555 Points:507,225 Joined:Jan 2012	Message Posted: Mar 9, 2013 12:06:11 AM Ignore yakstar Report Abuse what me worry?
JasTheAce Champion Author Raleigh Posts:1,115 Points:201,010 Joined:Nov 2012	Message Posted: Mar 9, 2013 12:05:00 AM Ignore JasTheAce Report Abuse good for them
HEBster Champion Author Kentucky Posts:8,932 Points:2,401,830 Joined:May 2006	Message Posted: Mar 9, 2013 12:04:50 AM Ignore HEBster Report Abuse It works!
OGW Champion Author London Posts:5,446 Points:1,558,085 Joined:Sep 2005	Message Posted: Mar 9, 2013 12:02:36 AM Ignore OGW Report Abuse Contrary to what some say, the Keystone XL pipeline is a game saver for Americans. American companies are exporting their own domestic prodution in record quantities which will push prices up at home even more. Canada has countries knocking on their door for their Alberta oil but they would rather sell it to a friendly nation and that discounted Alberta oil has been keeping American consumer's prices in check. If the Canadians have to sell it overseas then domestic US prices will radidly climb as the world market is much more expensive and Canada would make more money selling it elsewhere. One way or another the Canadian oil will be sold and if not to the US, then it will be America who will feel the pain not Canada.
Toppers Champion Author Atlanta Posts:9,157 Points:2,499,370 Joined:Mar 2005	Message Posted: Mar 9, 2013 12:00:59 AM Ignore Toppers Report Abuse Good for business!
Tigrelily All-Star Author Illinois Posts:631 Points:219,910 Joined:Nov 2011	Message Posted: Mar 9, 2013 12:00:25 AM Ignore Tigrelily Report Abuse Let them find other ways to transport their oil. How much of a fight would they give us if the situation was reversed?
Ticoman54 Champion Author Miami Posts:7,156 Points:1,517,620 Joined:Oct 2008	Message Posted: Mar 8, 2013 11:59:58 PM Ignore Ticoman54 Report Abuse I hope they are bullish without Obama's support...
Jeffro61 Champion Author Cleveland Posts:2,408 Points:2,310,945 Joined:Oct 2005	Message Posted: Mar 8, 2013 11:50:46 PM Ignore Jeffro61 Report Abuse Ok
N4PIP Champion Author Miami Posts:1,014 Points:446,010 Joined:Jan 2012	Message Posted: Mar 8, 2013 11:49:58 PM Ignore N4PIP Report Abuse The Keystone XL pipeline is a bad deal for America. We're getting nothing in return for sacrificing land. The Canadian oil will be exported outside of North America.
Dragnet Champion Author Arizona Posts:15,553 Points:2,935,485 Joined:Jul 2004	Message Posted: Mar 8, 2013 11:48:29 PM Ignore Dragnet Report Abuse It's all about politics and the crappy leadership in Washington
Aviator_Rob Champion Author New York Posts:3,992 Points:441,265 Joined:Mar 2012	Message Posted: Mar 8, 2013 11:46:11 PM Ignore Aviator_Rob Report Abuse Boy, the Internet trolls are even more ignorant than usual tonight. Here's an idea. How about they all go to this website: http://greedylyingbastards.com/ Maybe after seeing the movie trailer, their heads will explode.
rawdog1313 Champion Author Lexington Posts:3,444 Points:1,671,480 Joined:May 2008	Message Posted: Mar 8, 2013 11:42:53 PM Ignore rawdog1313 Report Abuse Regulate Oil Speculation!
REKEY Champion Author South Carolina Posts:8,723 Points:1,727,095 Joined:May 2008	Message Posted: Mar 8, 2013 11:41:58 PM Ignore REKEY Report Abuse greed!
postcard9 All-Star Author Massachusetts Posts:893 Points:529,195 Joined:May 2011	Message Posted: Mar 8, 2013 11:41:53 PM Ignore postcard9 Report Abuse When will America get on board?
Aviator_Rob Champion Author New York Posts:3,992 Points:441,265 Joined:Mar 2012	Message Posted: Mar 8, 2013 11:41:39 PM Ignore Aviator_Rob Report Abuse Once again, @wayoung56 is spouting more nonsense. It appears he has a limitless supply. Is that what gets you out of bed in the morning, wayoung? [Edited by: Aviator_Rob at 3/8/2013 11:42:24 PM EST]
Aviator_Rob Champion Author New York Posts:3,992 Points:441,265 Joined:Mar 2012	Message Posted: Mar 8, 2013 11:40:00 PM Ignore Aviator_Rob Report Abuse Sorry, @crmedic. Oil that's destined for the international export market will do nothing to lower gas prices here. Make the tar sands people pipe the oil east or west. If it spills, it'll be their problem. Americans won't get anything out of a pipeline to the Gulf. All that Canadian crud is bound for China.
nimpy Champion Author Indianapolis Posts:8,275 Points:1,728,805 Joined:Oct 2007	Message Posted: Mar 8, 2013 11:39:20 PM Ignore nimpy Report Abuse This is good
Blue48 Champion Author Illinois Posts:7,450 Points:1,666,620 Joined:Feb 2007	Message Posted: Mar 8, 2013 11:38:35 PM Ignore Blue48 Report Abuse WE LOVE YOU..YOU CRAZY CANADIANS!
crmedic Champion Author Arkansas Posts:2,920 Points:249,450 Joined:Jul 2011	Message Posted: Mar 8, 2013 11:32:06 PM Ignore crmedic Report Abuse They are gonna sell the oil one way or another. It will be cheaper to ship it via pipeline which would theoretically make gas prices lower.
Doomsday64 All-Star Author Austin Posts:905 Points:353,350 Joined:Apr 2011	Message Posted: Mar 8, 2013 11:31:19 PM Ignore Doomsday64 Report Abuse Someone will buy it for sure.
Math6149 All-Star Author Jacksonville Posts:878 Points:1,820,475 Joined:Jan 2007	Message Posted: Mar 8, 2013 11:29:11 PM Ignore Math6149 Report Abuse Because it makes money for them.
bouncing4fun All-Star Author Sacramento Posts:618 Points:157,960 Joined:Jun 2012	Message Posted: Mar 8, 2013 11:27:42 PM Ignore bouncing4fun Report Abuse ok
hcivic Champion Author Virginia Posts:3,994 Points:2,293,415 Joined:Aug 2005	Message Posted: Mar 8, 2013 11:26:24 PM Ignore hcivic Report Abuse the XL pipeline will eventually get the go-ahead
F34RL3SSNIT3 Veteran Author Austin Posts:412 Points:90,465 Joined:Mar 2013	Message Posted: Mar 8, 2013 11:23:15 PM Ignore F34RL3SSNIT3 Report Abuse Interesting
granitestater Champion Author New Hampshire Posts:8,987 Points:1,459,425 Joined:Oct 2008	Message Posted: Mar 8, 2013 11:22:30 PM Ignore granitestater Report Abuse That raises the question: What's the difference between Canadian beer and Canadian oil? --The oil tastes better!
SavALot Champion Author Virginia Beach Posts:8,623 Points:1,739,410 Joined:Apr 2005	Message Posted: Mar 8, 2013 11:16:59 PM Ignore SavALot Report Abuse it's all relative though...