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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:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Mar 12, 2013 4:59:42 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 Sophomore Author Minnesota Posts:166 Points:9,740 Joined:Feb 2013	Message Posted: Mar 9, 2013 7:11:14 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:3,378 Points:1,266,235 Joined:Oct 2008	Message Posted: Mar 9, 2013 6:09:11 AM Ignore otherdave Report Abuse ok
NedW Champion Author Indianapolis Posts:5,599 Points:1,139,320 Joined:Mar 2008	Message Posted: Mar 9, 2013 5:10:05 AM Ignore NedW Report Abuse Thank you for submitting this article, Nicoalbum.
wshutton Champion Author Los Angeles Posts:1,657 Points:922,245 Joined:Mar 2009	Message Posted: Mar 9, 2013 12:50:39 AM Ignore wshutton Report Abuse Oil always finds a way.
MAC48 Champion Author Dallas Posts:1,546 Points:764,095 Joined:Dec 2006	Message Posted: Mar 8, 2013 11:56:38 PM 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:2,453 Points:660,025 Joined:Jan 2010	Message Posted: Mar 8, 2013 11:32:47 PM Ignore rahcat Report Abuse Keystone XL will never be approved by Obama and his EPA minions.
Focus2 Champion Author Illinois Posts:7,889 Points:1,918,255 Joined:Mar 2006	Message Posted: Mar 8, 2013 11:29:28 PM 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:3,978 Points:1,916,895 Joined:May 2006	Message Posted: Mar 8, 2013 11:26:19 PM Ignore preacherjohn Report Abuse Money talks..
crreed1 Champion Author West Virginia Posts:1,970 Points:2,523,410 Joined:May 2005	Message Posted: Mar 8, 2013 11:25:33 PM Ignore crreed1 Report Abuse sounds like BS
mlmeng Champion Author Michigan Posts:1,620 Points:588,135 Joined:Mar 2011	Message Posted: Mar 8, 2013 11:22:54 PM Ignore mlmeng Report Abuse Someone will make money.
Tsunamiron Champion Author Jacksonville Posts:1,414 Points:554,800 Joined:Mar 2011	Message Posted: Mar 8, 2013 11:22:19 PM 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 8, 2013 11:18:51 PM Ignore tedjm1 Report Abuse Joint venture?
EVBuddy Champion Author Nevada Posts:16,675 Points:3,028,670 Joined:Sep 2004	Message Posted: Mar 8, 2013 11:18:50 PM Ignore EVBuddy Report Abuse SOme people are bullish
granitestater Champion Author New Hampshire Posts:8,805 Points:1,427,825 Joined:Oct 2008	Message Posted: Mar 8, 2013 11:16:47 PM Ignore granitestater Report Abuse Keystone XL and Canadian Natural? Is this a story about beer??
mcbrownie220 Sophomore Author Toledo Posts:225 Points:151,375 Joined:Jun 2012	Message Posted: Mar 8, 2013 11:13:20 PM Ignore mcbrownie220 Report Abuse ok
yyc2yow All-Star Author Ottawa Posts:636 Points:567,310 Joined:Dec 2009	Message Posted: Mar 8, 2013 11:12:22 PM Ignore yyc2yow Report Abuse We should build our own refineries up here! I agree with this comment
obimerrill Champion Author Cincinnati Posts:1,425 Points:286,790 Joined:Jul 2012	Message Posted: Mar 8, 2013 11:12:09 PM 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:2,677 Points:535,120 Joined:Jun 2011	Message Posted: Mar 8, 2013 11:11:32 PM Ignore PrinceLH Report Abuse We should build our own refineries up here!
Aviator_Rob Champion Author New York Posts:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Mar 8, 2013 11:09:50 PM 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:30,922 Points:2,604,565 Joined:Sep 2005	Message Posted: Mar 8, 2013 11:08:35 PM Ignore SteelPenny Report Abuse Go for it Canada.
Robert44 Champion Author Columbus Posts:3,567 Points:1,217,130 Joined:Mar 2004	Message Posted: Mar 8, 2013 11:08:31 PM Ignore Robert44 Report Abuse Drill Baby Drill!!!
DrLyon Champion Author Michigan Posts:6,640 Points:1,209,180 Joined:May 2006	Message Posted: Mar 8, 2013 11:06:58 PM Ignore DrLyon Report Abuse Good....
Bubba44612 Champion Author Ohio Posts:7,381 Points:1,874,155 Joined:Aug 2005	Message Posted: Mar 8, 2013 11:06:39 PM Ignore Bubba44612 Report Abuse All that oil is going to China anyways.
yakstar Champion Author Montreal Posts:2,405 Points:476,720 Joined:Jan 2012	Message Posted: Mar 8, 2013 11:06:11 PM Ignore yakstar Report Abuse what me worry?
JasTheAce All-Star Author Raleigh Posts:955 Points:169,410 Joined:Nov 2012	Message Posted: Mar 8, 2013 11:05:00 PM Ignore JasTheAce Report Abuse good for them
HEBster Champion Author Kentucky Posts:8,773 Points:2,371,100 Joined:May 2006	Message Posted: Mar 8, 2013 11:04:50 PM Ignore HEBster Report Abuse It works!
OGW Champion Author London Posts:5,324 Points:1,529,650 Joined:Sep 2005	Message Posted: Mar 8, 2013 11:02:36 PM 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:8,997 Points:2,467,770 Joined:Mar 2005	Message Posted: Mar 8, 2013 11:00:59 PM Ignore Toppers Report Abuse Good for business!
Tigrelily Veteran Author Illinois Posts:485 Points:194,295 Joined:Nov 2011	Message Posted: Mar 8, 2013 11:00:25 PM 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:7,031 Points:1,489,095 Joined:Oct 2008	Message Posted: Mar 8, 2013 10:59:58 PM Ignore Ticoman54 Report Abuse I hope they are bullish without Obama's support...
Jeffro61 Champion Author Cleveland Posts:2,257 Points:2,282,945 Joined:Oct 2005	Message Posted: Mar 8, 2013 10:50:46 PM Ignore Jeffro61 Report Abuse Ok
N4PIP All-Star Author Miami Posts:886 Points:416,465 Joined:Jan 2012	Message Posted: Mar 8, 2013 10:49:58 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:15,390 Points:2,905,735 Joined:Jul 2004	Message Posted: Mar 8, 2013 10:48:29 PM Ignore Dragnet Report Abuse It's all about politics and the crappy leadership in Washington
Aviator_Rob Champion Author New York Posts:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Mar 8, 2013 10:46:11 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:3,284 Points:1,639,880 Joined:May 2008	Message Posted: Mar 8, 2013 10:42:53 PM Ignore rawdog1313 Report Abuse Regulate Oil Speculation!
REKEY Champion Author South Carolina Posts:8,564 Points:1,696,490 Joined:May 2008	Message Posted: Mar 8, 2013 10:41:58 PM Ignore REKEY Report Abuse greed!
postcard9 All-Star Author Massachusetts Posts:883 Points:513,945 Joined:May 2011	Message Posted: Mar 8, 2013 10:41:53 PM Ignore postcard9 Report Abuse When will America get on board?
Aviator_Rob Champion Author New York Posts:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Mar 8, 2013 10:41:39 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:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Mar 8, 2013 10:40:00 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:8,120 Points:1,698,080 Joined:Oct 2007	Message Posted: Mar 8, 2013 10:39:20 PM Ignore nimpy Report Abuse This is good
Blue48 Champion Author Illinois Posts:7,295 Points:1,635,995 Joined:Feb 2007	Message Posted: Mar 8, 2013 10:38:35 PM Ignore Blue48 Report Abuse WE LOVE YOU..YOU CRAZY CANADIANS!
crmedic Champion Author Arkansas Posts:2,635 Points:221,225 Joined:Jul 2011	Message Posted: Mar 8, 2013 10:32:06 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:844 Points:333,755 Joined:Apr 2011	Message Posted: Mar 8, 2013 10:31:19 PM Ignore Doomsday64 Report Abuse Someone will buy it for sure.
Math6149 All-Star Author Jacksonville Posts:873 Points:1,793,750 Joined:Jan 2007	Message Posted: Mar 8, 2013 10:29:11 PM Ignore Math6149 Report Abuse Because it makes money for them.
bouncing4fun All-Star Author Sacramento Posts:587 Points:144,990 Joined:Jun 2012	Message Posted: Mar 8, 2013 10:27:42 PM Ignore bouncing4fun Report Abuse ok
hcivic Champion Author Virginia Posts:3,839 Points:2,262,790 Joined:Aug 2005	Message Posted: Mar 8, 2013 10:26:24 PM Ignore hcivic Report Abuse the XL pipeline will eventually get the go-ahead
F34RL3SSNIT3 Veteran Author Austin Posts:343 Points:69,785 Joined:Mar 2013	Message Posted: Mar 8, 2013 10:23:15 PM Ignore F34RL3SSNIT3 Report Abuse Interesting
granitestater Champion Author New Hampshire Posts:8,805 Points:1,427,825 Joined:Oct 2008	Message Posted: Mar 8, 2013 10:22:30 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:8,459 Points:1,708,910 Joined:Apr 2005	Message Posted: Mar 8, 2013 10:16:59 PM Ignore SavALot Report Abuse it's all relative though...