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Hurricane Harvey is wreaking havoc with oil markets

Hurricane Harvey is wreaking havoc with oil markets thumbnail
  • US gasoline up nearly 7% as storm bring refinery closings
  • Dollar extends falls amid clouded economic outlook
  • European stocks open lower, hurt by strong euro
  • Asian markets subdued

LONDON — US gasoline futures jumped to two-year highs while an already weak dollar hit 16-month lows against a basket of currencies on Monday as Tropical Storm Harvey pummeled the heart of the US energy sector and raised concerns about the economy.

The dollar index, on the defensive since US Federal Reserve Chair Janet Yellen failed to mention monetary policy in a closely watched speech at Jackson Hole on Friday, extended its falls as the most powerful storm to hit Texas in more than 50 years was seen as negative for economic growth.

Weakness in the US currency helped the euro to its highest in 2 1/2 years at close to $1.20, building on gains made Friday after European Central Bank chief Mario Draghi refrained from talking down the strong currency.

Renewed euro strength pushed down European stock markets, with Germany’s blue-chip index 0.5% lower and France’s CAC 40 slipping by 0.4%.

Trade in general was subdued, with the London market closed for a public holiday.

“The strong euro is weighing on European stock markets,” said London Capital Group analyst Ipek Ozkardeskaya.

“Tapering talks could further demoralize stock traders in the run-up to the ECB verdict (next month). IT stocks are again on the chopping block.”

US stock futures were also a touch lower, suggesting a softer opening on Wall Street later in the day.

Gasoline futures soared as much as 6.8% as the storm, which came ashore Friday, continued to batter the state. They were last up 4.5%.

Oil Tank Hurricane Harvey An oil tank damaged by Hurricane Harvey seen near Seadrift, Texas, on Saturday. REUTERS/Rick Wilking

Oil impact

The region is home to a quarter of US crude-oil refining capacity, and some areas are expected to receive a year’s worth of rainfall in a week. At least two people have died.

Harvey has knocked out a quarter of oil production from the Gulf of Mexico, prompting fears it could overturn years of excess US oil capacity and low prices.

“Although the full impact of the storm’s damage is yet to be determined, the markets expect the impact will be felt globally and affect energy markets for many weeks,” an analyst at FxPro said in a note.

US economic growth more than halved in the quarter after Hurricane Katrina mauled Louisiana in August 2005 but bounced back by early 2006 as reconstruction began and gasoline prices moderated.

After surging Friday, oil prices were mixed Monday as markets tried to gauge Harvey’s impact on oil production and refinery demand.

Brent futures, the global crude-oil benchmark, edged up 0.2% to $52.49 a barrel. US crude futures pulled back 0.8% to $47.46.

Asian stock markets including Japan’s Nikkei index ended the session little changed, though shares in Japanese property and casualty insurers skidded as investors fretted about the broader impact of the US storm.

In contrast, China’s major stock indexes rose to 20-month highs after a series of strong earnings.

Markets mostly dismissed North Korea’s firing of three short-range missiles into the sea on Saturday.

Donald Trump Donald Trump. Alex Wong/Getty Images

Dollar declines

While the euro extended Friday’s gains against the dollar, the US currency also slipped against the yen, easing by 0.2% to 109.14 yen.

The dollar index — which tracks the US currency against six major rivals — fell to as low as 92.372, its weakest since early May 2016, before recovering a little to trade 0.3% down at about 92.489.

Those declines came after Yellen, the Fed chief, focused more on financial stability in her Jackson Hole speech.

The remarks disappointed some investors who had hoped for hints on the Fed’s plans for interest rates, though most analysts had not expected Yellen or Draghi to shed new light on policies.

“Draghi does not seem to be overly concerned with the current euro levels, which is the market’s justification to move the euro higher,” Commerzbank currency strategist Esther Reichelt said.

(Reporting by Dhara Ranasinghe; Additional reporting by Nichola Saminather in SINGAPORE, Danilo Masoni and Jemima Kelly in LONDON; Editing by David Goodman)

Business Insider

45 Comments on "Hurricane Harvey is wreaking havoc with oil markets"

  1. Davy on Tue, 29th Aug 2017 6:35 pm 

    Here is something to add to the excitement:

    “Giant Chemical Plant In Crosby, Texas Warns It Is In “Real Danger” Of Exploding”

    “The plant, which produces explosive organic peroxides and ammonia, was hit by more than 40 inches of rain and has been heavily flooded, running without electricity since Sunday. The plant was closed since Friday but has had a skeleton staff of about a dozen in place. Following the flood surge, the plant’s back-up generators also failed.”

    “According to the plant’s website description, it “produces methyl mercaptan, ethyl mercaptan, dimethyl sulfide (DMS) and methylmercapto-proprionaldehyde (MMP).” Our products are key ingredients in the manufacture of biodegradable herbicides, pesticides and animal feed supplements. These products are also used in the production of pharmaceuticals, photographic chemicals and circuit boards. Ethyl mercaptan is primarily used as an odorizer for propane gas. The strong odor that ethyl mercaptan adds to propane makes gas leaks easier to detect, protecting homes and businesses. MMP is used in the production of methionine, an essential amino acid and a key component of poultry, swine and ruminant (cattle, sheep, etc.) feed.”

    “Meanwhile, Reuters adds that other chemical plants have also shuttered production in Texas because of the hurricane. These include Anglo-Swiss chemicals firm Ineos Group Holdings, which said it has been forced to shut down facilities in Texas. Chocolate Bayou Works and Battleground Manufacturing Complex, and INEOS Nitriles’ Green Lake facility are following hurricane procedures and are temporarily shut down, spokesman Charles Saunders said. Huntsman Corp said it has closed six chemical plants in Texas, along with its global headquarters and advanced technology center in Texas.”

  2. Anonymouse1 on Tue, 29th Aug 2017 7:08 pm 

    Considering the damage amerikas barely regulated toxic chemical and energy industries do to the real world, I have no problem with this hurricane damaging the fake world that is the amerikan economy. Think of it as natures way of getting a little payback against the criminal amerikan empire, if you prefer.

  3. Makati1 on Tue, 29th Aug 2017 7:20 pm 

    Anon, AMEN! The US can be Number One in storm damage. The Hurricane season is just getting started. Buckle up!

  4. Davy on Tue, 29th Aug 2017 7:24 pm 

    “Think of it as natures way of getting a little payback against the criminal amerikan empire, if you prefer.”

    Classic Canadian heart felt response. With friends like this who needs enemies. Pathetic pieces of shit.

  5. Davy on Tue, 29th Aug 2017 7:26 pm 

    makat, you are in a great mood. I know you love tragedies especially American ones. Pass the poopcorn.

  6. GregT on Tue, 29th Aug 2017 8:08 pm 

    “Classic Canadian heart felt response. With friends like this who needs enemies. Pathetic pieces of shit.”

    I would be willing to bet that there are far more Americans, than there are Canadians, who think that way.

  7. Davy on Tue, 29th Aug 2017 8:27 pm 

    I didn’t hear those words when Alberta burned. You know the Canadian Tar Sands. The stupid anymouse1 thinks tar sands are American so I understand why he would gloss right over that. What a stupid young Canadian.

  8. GregT on Tue, 29th Aug 2017 8:54 pm 

    The Alberta Tar Sands are 71% foreign owned. 16% Chinese. The report that was generated using shareholder information compiled from Bloomberg, was taken down by the Harper government.

  9. Sissyfuss on Tue, 29th Aug 2017 9:15 pm 

    I believe you mean the Alberta Tard Sands, Gregorich Turgenev.

  10. Anonymouse1 on Tue, 29th Aug 2017 9:46 pm 

    That’s the exceptionalists off-again, on-again relationship with reality at work lol. It brings me no pleasure to highlight my nation’s turning over control of its resources to amerikan corporations. That however, is what rational people call a ‘fact’. And while this particular fact is not exactly a secret here, it is often swept under the rug as it were. The oft-referred to ‘Canadian energy sector’, is basically a subsidiary of primarily uS energy corporations, along with a few other other uS aligned entities. Canadians, are minority stakeholders in their own resources. If you knew anything at all about how uS ‘globalism’ works exceptionalist, you would find similar patterns of ownership and control excerted by the uS and its aligned partners in many other uS colonies as well. Canada is notable, only in the sense that it has a far more relaxed attitude towards foreign ownership, even by uS satraps standards. Unless the owners in question happen to be Chinese or, or say, Russian. Then the ‘local’ propaganda networks and talking heads usually have a complete meltdown.

    Just like the meltdowns you have on a regular basis exceptionalist.

    Go NAFTA!*

    That is just how it is exceptionalist, and all your ranting, huffing and puffing, and screaming “lalalal not true”, like a raving imbecile, doesn’t change a thing.

    *Interesting that despite the obvious harm NAFTA has done to both Canadian and Mexican sovereignty, and economic independence, the ‘local’ media, many politicians and ‘advocacy’ types, not to mention industry, have all come out in support of leaving NAFTA as is. This was in course, in response to trumps random threats to end NAFTA.

  11. Bloomer on Tue, 29th Aug 2017 10:16 pm 

    British Columbia burns while Texas floods. We will soon all be refugees as climate change knows no borders. This Canadian sympathies with the folks in the lone star state and invite them to join the global community in curbing Carbon emissions.

  12. Makati1 on Tue, 29th Aug 2017 10:29 pm 

    GregT, I think there are about 7 billion people who would agree with Anon’s comment: ““Think of it as natures way of getting a little payback against the criminal amerikan empire, if you prefer.”” Blow-back is a bitch, as America is beginning to find out.

  13. Makati1 on Tue, 29th Aug 2017 10:31 pm 

    Bloomer, nothing would be better for humanity than if all of those refineries on the Gulf coast slipped into the sea or were damaged to the point of total loss.

  14. DMyers on Tue, 29th Aug 2017 10:34 pm 

    Sissyfuss, although I find your comment amusing, I fear for you for committing the politically incorrect. “Tard” is not allowed. It’s words like those that could cause a peace demonstrator to beat the shit out of you, and throw piss on you, peacefully.

    Which reminds me to remind everyone, it seems your greatest probability of encountering violence is at a leftist peace demonstration. Because some people get the word peace mixed up with the word, piece, causing the rational mind to be distracted by the instinctive mind.

  15. antaris on Tue, 29th Aug 2017 11:35 pm 

    Davy, just a stupid guy a little older than me.

  16. Davy on Wed, 30th Aug 2017 4:44 am 

    “Davy, just a stupid guy a little older than me.”
    Ant, you are another dumbass from the Butthole of the Continent. You think you are so smart and clever because you are from Hongcouver. One of the richest criminal cities on the planet and you stupid Hongcouverites whine, moan and complain about the Americans and all our sins. I remember when you and grehg had a little conversation on how stupid Americans are with the example of the young girl at the McDonalds check out window. Yea, a stupid Canadian making himself feel good by cutting down a young American girl. I have been to Canada multiple times. Nothing smart about Canada. You stink too ant. You just don’t say much so that make you a little better.

  17. Davy on Wed, 30th Aug 2017 5:03 am 

    Stupid millennial just out of diapers Canadian piece of shit, let’s get something straight for you and your dumbass friend grehg. You Canadians started this Tar Sands deal. You sold out when the money was good. You profited handsomely and now your little adolescent ass is whining. Oh the Americans bought us out and we made a huge profit, wha, wha, wha. Own the Tar Sans stupid Canadians. It is your blemish to the earth. I get so tired of you dumbasses complaining about Houston and climate deniers. Look in the mirror Hypocritical Canadians of the highest order. Look at the map dumbass. TAR SANDS are in Alberta. Royalties go to the government to support your basement dwelling ass. Another issue climate change denying Canadians discount is their ownership through shareholding in the US energy sector. BTW, I call you climate deniers because you blame it on the US not yourselves. Canadians are one of the biggest investment blocks in the US and then they whine about all those US sins when they are bought into it. I love how you whine about Nafta when the trade balance is positive Canadian. More Canadian whining from a millennial who probably dropped out of college because it is obvious he has no sense of modern business world. No one on this planet stinks more than a Canadians for hypocrisy. Man up pussy Canadians and stop buying and associating with Americans if you hate us so much. I don’t want you down here. Stay out of my country. Your asses are all over down here. If it comes up in the conversation I tell people here how Canadians feel for Americans.

  18. Davy on Wed, 30th Aug 2017 5:09 am 

    “The Alberta Tar Sands are 71% foreign owned. 16% Chinese.
    Grehg, got any references for those numbers? No I am not saying they are wrong or right it is just we have this discussion routinely where you and your boyfriend anymouse shuck your ownership for the Canadian tar sands. You never give the numbers and who? OH, and now you say the Harper gov hide the data. How convenient and typical of you and your conspiracies. You Canadians are always whining about others and never look in the mirror. What a joke.

  19. Davy on Wed, 30th Aug 2017 5:13 am 

    “GregT, I think there are about 7 billion people who would agree with Anon’s comment”

    Makat, loves his conflict and he loves when his gang of extremist Canadians come to his support. He love stirring the shit up so there is intellectual violence on the board. makat, lives for discord. You are all corn in turd and a blemish to this board. I try to have normal conversations here but the extremist get in the way. It is all a blame and complain festival with the extremist here.

  20. Makati1 on Wed, 30th Aug 2017 6:14 am 

    Davy, don’t you see that more and more here see you as a joke. The list is getting longer and longer as you persist in childish name calling and putdowns instead of intelligent, fact substantiated rebuttals. The time you waste writing those long bloviating pieces could be better used to present short, factual rebuttals with references.

    Your narrow, uneducated view of the real world is not shared by most here. Just by a few others who are also in denial of reality. You keep trying to make others believe as you do but it is a losing cause. You are up against intelligent, experienced people who can think outside the box and who live in the real world. Obviously you are not in the same league.

  21. Dredd on Wed, 30th Aug 2017 6:23 am 

    Oil-Qaeda is wreaking havoc with the planet Earth causing the headline: “Hurricane Harvey is wreaking havoc with oil markets” (You Are Here).

  22. Hello on Wed, 30th Aug 2017 6:36 am 

    >>>>>> instead of intelligent, fact substantiated rebuttals

    Ah, Mak. Thanks for the laugh. Do you even know what ‘intelligent’ means? Hahahaha.
    And that from a guy who needed to move to the 3rd world to feel important. Priceless.

  23. Davy on Wed, 30th Aug 2017 6:39 am 

    “Davy, don’t you see that more and more here see you as a joke”
    Makat, the more and more is your little gang, WTF and that is getting smaller and smaller. You used to come at me 6 plus at once and now it is just you and widdle grehg. I am winning over extremism. Your brand is losing.

    “childish name calling and putdowns instead of intelligent, fact substantiated rebuttals.”
    I have offered you respect for years makat and you continue to refuse to respect me. You offer narrow cherry picked facts that are a focused emotional attempt at promoting your brand of extreme anti-American hate. This is likely because of your failed American life and the promotion of your new Asian life. This extremism somehow makes you feel like you made the right choice I guess. That is usually how deeply troubled people operate. I name call those like grehg that call me out. He can leave me alone. He does not deserve respect because he is a hypocrite. What about when you two name call makat? How is that ok, hypocrite?

    “The time you waste writing those long bloviating pieces could be better used to present short, factual rebuttals with references.”
    I am capable of saying things makat. It takes a few paragraphs to say anything of substance. Why not criticize Apnea? He has more words on this board than I do. OH, I know he is your boyfriend. You have just as many words if not more of empty propaganda copy and paste. It is emotionally focused on your narrow extremism. When I am not fighting you asswipes I am talking about all of us together not your brand of hate and discontent. I talk about personal solutions that may be of use to others. You talk down everyone else that does not live like you do. Be like makat or be doomed is your theory. What a sick old man.

    “Your narrow, uneducated view of the real world is not shared by most here.”
    LMFAO, who you and grehg? You and a handful of anti-American Canadians? Double LOL, like that is a majority. I am honored to fight so many like you makat. I bring balance to the table. If you would be gone makat this board would likely go back to a more normal state. Now it is a battle of extremism and balance. I am the balance BTW that fights extremism with extreme measures. I turn the cheek to family and friends. I ignore bad attitudes in family and friends unless it gets really bad. As for you extremists here I give you and eye for and eye and I have remained true to that.

  24. Dredd on Wed, 30th Aug 2017 6:59 am 

    U.S. Military intelligence:

  25. Darrell Cloud on Wed, 30th Aug 2017 7:06 am 

    I get the climate change narrative. The mere fact that seven billion of us desire to eat three times in a twenty four hour period is astounding. This single factor has a huge impact on the environment. To deny that reality is simply a result of chicanery or the inability to grasp the scale of that event.

    So what do we do? Who do we push away from the table? What industry do we shut down? Do we shut down China, India, Europe, the United States? What target population do we select for extermination?

    We can finger point and scream and rant and rave all we want. There is no political solution to overshoot. Collapse and the ensuing great mortality will settle the issue. The best any of us can do is try to secure a life boat for the people we care about.

  26. rockman on Wed, 30th Aug 2017 7:26 am 

    “The Alberta Tar Sands are 71% foreign owned. 16% Chinese.” Incorrect. Those resources are 100% owned by the Canadian people. They do have production sharing agreements with domestic and foreign companies. But Canadians receive a portion of every $ from the sale of every bbl of oil sands sold. If the majority of Alberta voters didn’t want the oil sands produced it wouldn’t be happening. Those politicians follow the will of their electorate or they would be replaced.

    Canadians are primarily responsible for the production of the oil sands…not foreign or domestic companies.

  27. Dredd on Wed, 30th Aug 2017 7:35 am 

    “You had a flooding event last year which the Houston Flood Control District described as a one in 10,000 year rain event

    quoted from this video: (

  28. Dredd on Wed, 30th Aug 2017 7:44 am 

    “Those politicians follow the will of their electorate or they would be replaced.”


    “You had a flooding event last year which the Houston Flood Control District described as a one in 10,000 year rain event”

    Liars carry the day when the people believe the lies.

    Deniers run the government now.

  29. rockman on Wed, 30th Aug 2017 8:01 am 

    Davy – Back to the thread. As you know the Rockman lives right across the highway from the big ExxonMobil plant. The pollutant release isn’t very significant. As a result of a quick emergency shut down the scrubbers are bypassed. Now that it is offline the flares are gone.

    The partial storage tank collapse won’t be much of a problem. The big issue will be how long to get that facility back on line. Just a guess but maybe a week. The bigger issue may be manpower: many of the workers live in badly flooded areas.

    Speaking of which: to use the often overused term the Rockman lives in a very surreal situation. No street flooding let alone homes inundated. Just a 10 minute drive west across the San Jacinto River 100’s of folks still trapped on an overpass on I-10 last night. And a 10 minute drive east homes on the Harris Co line began flooding yesterday morning as Cedar Creek came over its banks as upstream rains finally made it south. And just a 5 minutes drive south to the Galveston Bay that’s open to the Gulf of Mexico.

    We’ll watch great calamities around the world and feel very remote to the pain. That’s the surreal part for the Rockman: that same sense of seperation. In an hour I’ll run to the store and pick up some milk, fruit and vegatables since we’ve run low since last Thursday. And now watching the downtown Houston convention center top out at 10,000 evacuees. Again just a 30 minutes drive from the Rockman’s house. And for those that reach it safely our office is back open today. Which is no problem for the Rockman since he normally telecommutes.

    Like an episode of the “Twilight Zone”. As I explained earlier thank goodness for topographic maps: 41 years living along the Gulf Coast and not once had a home flooded. Unlike growing up in New Orleans and twice having to wade thru hurricane flood waters.

  30. Dredd on Wed, 30th Aug 2017 8:20 am 

    Speaking of the cost of poison, when is Oil-Qaeda going to promise delivery of toxic oil by UFO?

    Sea ports, like Houston, are going away (The Extinction of Robust Sea Ports – 9).

  31. Dredd on Wed, 30th Aug 2017 9:05 am 

    The ports in Harvey land are closed today (“Houston we have a problem”).

    When the coast guardsman was asked when they would open again he said “it takes a while.”

    The military prepared a report about a decade ago, looking forward with the eyes in their head (brain) not the eyes in their ass (hindsight).

    A recent report will catch the attention of anyone who can focus enough to see down the road further than their nose:
    The report includes several formal findings:

    * Projected climate change poses a serious threat to America’s national security.

    * Climate change acts as a threat multiplier for instability in some of the most volatile regions of the world.

    * Projected climate change will add to tensions even in stable regions of the world.

    * Climate change, national security and energy dependence are a related set of global challenges.” (Global Climate & Homeland Insecurity, July 2009)

    (Global Climate & Homeland Insecurity – 2, April 2016)

  32. GregT on Wed, 30th Aug 2017 10:18 am 

    Majority of oil sands ownership and profits are foreign, says analysis

    “OTTAWA — More than two-thirds of all oil sands production in Canada is owned by foreign entities, sending a majority of the industry’s profits out of the country”

    “Scientists and governments from around the world say all sources of the heat-trapping emissions must be dramatically reduced to avoid potentially irreversible changes to the planet’s ecosystems, atmosphere and the global economy from climate change.”

    ““Since the beginning of the year, our federal government has either cut or gutted every piece of environmental legislation designed to protect our land, air, and water while aggressively pushing for the expansion of the tar sands and the building of new pipelines, such as the controversial Enbridge Northern Gateway pipeline and supertanker project,” concluded the report. “Harper has claimed to do this in the name of Canada’s national interest while attacking anyone who disagrees.”

    In case you missed it Rockman, the Harper government was sent packing in the last election.

  33. GregT on Wed, 30th Aug 2017 10:33 am 

    Billionaire Koch brothers are big oil players in Alberta

    “The ultra-right U.S. Koch brothers, little-known to Canadians, are major players in Alberta’s oil patch, where they control at least 1.1 million acres.”

  34. Davy on Wed, 30th Aug 2017 10:34 am 

    Rock, thanks for your update. I was wondering about you and where you were located. Good to know you are high and dry!

  35. GregT on Wed, 30th Aug 2017 10:42 am 

    Who owns Stephen Harper?

    “Shouldn’t Canadians know, for instance, if Harper’s early leadership bids were significantly bankrolled by, say, the Koch brothers, who are among the largest lease-holders of Alberta’s tar sands and therefore have a huge financial stake in preventing Canada from limiting greenhouse gas emissions?”

  36. Dredd on Wed, 30th Aug 2017 10:43 am 

    Oil is number one in generating insurance claims.

    The best flood insurance is (The Evolution and Extinction of Affordable Insurance – 2).

  37. GregT on Wed, 30th Aug 2017 10:45 am 

    Global News Kills Koch Brothers Story, Fires Journalist

  38. Cloggie on Wed, 30th Aug 2017 10:54 am 

    The ultra-right U.S. Koch brothers, little-known to Canadians

    That must be “ultra-right” in the North-American definition, namely a guy with a lot of money and social-liberal ideas.

    If you look at the track-record you quickly see you are dealing with a liberal-globalist:

    Koch considers himself a social liberal, supporting women’s right to choose, gay rights, same-sex marriage and stem-cell research. He opposes the war on drugs. Koch supports policies that promote individual liberty and free market principles, and supports reduced government spending. Koch supports a non-interventionist foreign policy; “Pursuing a very aggressive foreign policy,” he says, “is an extremely expensive endeavor for the U.S. government. The cost of maintaining a huge military force abroad is gigantic. It’s so big it puts a severe strain on the U.S. economy, creating economic hardships here at home.” Koch opposed the Iraq War, saying that the war has “cost a lot of money and it’s taken so many American lives

    Koch was a libertarian, people who do not care about borders and immigration, are strongly pro-business, low taxes and against big government.

    In contrast the European right does care about keeping different groups of people separate (“blood and soil” aka nationalism). In America these kind of people (“white nationalists”) are considered to be a fringe “hate group” (loving your own group apparently doesn’t count as a ticket not to be branded a “hater”). Examples Richard Spencer and David Duke.

    The interesting consequence of all this North-American color-blindness, from a Eurasian perspective, is that North-America is slowly becoming a third world country, faster than Europe. And all of a sudden there appears to be quite a lot of people in the US belonging to the “right-wing fringe”, offering Europe quite some potential for “geopolitical upward mobility”.

    Beer & popcorn.

  39. Cloggie on Wed, 30th Aug 2017 11:14 am 

    The problem with what has caused Houston-Harvey has been solved. And no it was not that climate change superstition:

    The Orthodox Rabbis of Israel tell us that Hurricane Harvey, which hit Texas, is just divine punishment for supporting the anti-Israel political process (of negotiating peace with the Palestinians). God is forever vigilant and severely punishes those goyim who act against Israel.

    Glad we got that out of the way.

  40. GregT on Wed, 30th Aug 2017 11:20 am 

    The article called the Koch brothers ‘ultra right’, not ‘extreme right’, Cloggie.

  41. rockman on Wed, 30th Aug 2017 12:06 pm 

    Greg – “In case you missed it Rockman, the Harper government was sent packing in the last election.” and yet all of the oil sands resources are still available for development subject to economic viability.

    It always makes me smile when I see someone try to ignore that liberal politicians are just as supportive of fossil fuel resources as conservative politicians despite their WORDS which are seldom backed up by significant ACTIONS.

  42. rockman on Wed, 30th Aug 2017 12:09 pm 

    Davy – Driving back from the grocery story I saw a couple of small flare stacks burning at Exxon. I suspect it’s still residual gas from the shut down and not part of a restart.

  43. Cloggie on Wed, 30th Aug 2017 12:24 pm 

    The article called the Koch brothers ‘ultra right’, not ‘extreme right’, Cloggie.

    That distinction is too subtle for me.

  44. GregT on Wed, 30th Aug 2017 12:25 pm 

    “It always makes me smile when I see someone try to ignore that liberal politicians are just as supportive of fossil fuel resources as conservative politicians despite their WORDS which are seldom backed up by significant ACTIONS.”

    No ignorance on my part. I am well aware that Big Oil, central banking cartels, and large corporations, have strangleholds on governments around the world.

  45. GregT on Wed, 30th Aug 2017 12:27 pm 

    “That distinction is too subtle for me.”

    That would be because you are politically motivated.

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