Canada to Follow America’s Energy Lead
I can hardly wait till the responsible republics shift into overdrive.
The Houses of Saud, Putin, and Maduro are hardest hit!
"Canadian oil production is set to grow by as much as one million barrels per day over the next 14 years, according to a recent report from an industry group. Reuters reports:
[Canadian Association of Petroleum Producers (CAPP)] predicted in its annual growth forecast that output will grow by 28 percent to 4.9 million barrels per day (bpd) by 2030. […]
Production from Alberta’s oil sands, the world’s third-largest crude reserves and No. 1 source of U.S. oil imports, will hit 3.7 million bpd by 2030, the industry group said on Thursday. CAPP expects conventional oil production in Western Canada, including condensates, to fall to 1.1 million bpd by 2018 from 1.3 million bpd in 2015 and is expected to remain relatively stable to 2030."
This is an elegant one/two punch combination likely to knockout our opponents. Venezuela is on the canvas being counted out as I write. The House of Putin is in dire straights, with only a few short years of cushion left in the treasury. The House of Saud has oodles of assets in ARAMCO but these are one time assets. Once sold, they are gone forever, and Saud will be selling the ARAMCO assets in ever increasing amounts unless it can find some way to knit an economy out of whole cloth, soon.
While some argue that Putin need only refire the old engine of Soviet industrialism, this is wrong. At the end of the 1980s the Soviets became aware of the fact that their manufacturing was actually taking raw materials, energy, knowhow, and labor, combining them and producing manufactured goods which were worth less than the value of the raw materials, and energy inputs.Or more succinctly, they were devaluing the raw materials, and energy via the application of knowhow and labor!
They spiked industry, turing it over to the workers to see if they could make it work, and focused on the production, and sale of raw materials, and energy. Russia is the Congo with a thin veneer of industrialization's, and wealth, very thin.
Outside of Brexit, this is the best news this year.