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Energy Summary for Nov. 11, 2019

2019-11-11 20:28 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost 38 cents to $56.86 on the New York Merc, while Brent for January lost 33 cents to $62.18 (all figures in this para U.S.). Western Canadian Select traded at a discount of $21.99 to WTI, up from a discount of $22.13. Natural gas for December lost 15 cents to $2.65. The TSX energy index lost a fraction to close at 136.13.

"Energy policy is Ottawa's primary instrument for inflicting discriminatory economic pain on Alberta, and this cannot be allowed to continue." So blared Alberta Premier Jason Kenney during a one-hour speech in Red Deer on Saturday, as he ratcheted up his calls for a "fair deal" for his province. He accused the federal Liberal government of being "actively hostile" to the oil and gas sector. The downturn cannot be blamed solely on weak oil prices, the U.S. supply boom or other global factors, said Mr. Kenney; Ottawa has been exacerbating the crisis by introducing confusing and investment-averse policies. The result in Alberta has been a spike in everything from separatist sentiment to suicides, said Mr. Kenney. He distanced himself from that separatist sentiment, calling himself a "proud Canadian" who will "stand up for national unity," but made it clear that he wants a very different, much more autonomous role for Alberta within Canada. To that end, he announced the creation of a panel that will consider, among other things: the establishment of a provincial revenue agency (like Quebec has), withdrawal from the Canada Pension Plan (again like Quebec), the removal of the RCMP in favour of a provincial police force (as exists in Ontario and Quebec) and even the possibility of Alberta's writing its own constitution. The panel will begin public consultations Nov. 16 and will submit recommendations to the government by the end of March.

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Kenney is a communist from his banter, what pro business leader on election speaks up publicly about cutting off gas supplies to 6 million people, its not free gas, only Mao would talk like that, arrest Kenney now, LOCK Him Up NOW

Posted by Duh at 2019-11-11 20:38