Yeah…I guess that’s alright…NOT!! Natgas is selling presently at a severe discount to oil. The historic ratio of oil price/barrel to 1mmbtu’s of gas was 6-to-1 (wholesale prices) until 5-10 years ago…thus if oil was $30/bbl, gas was $5/mmbtu’s
Today with oil at $90/bbl, gas should be $15/mmbtu’s…now it’s what…around $4.50…less than a third of the historical price!! Since Encana is more of a gas company, low gas market price make the company’s value drop…The Chinese appear to be no dummies…buy low, sell high or … buy into the gas when it’s value is low!
BTW, If you Watch “Dragon’s Den” on CBC TV , the arrogant, bald guy (worth a billion $$$ or 2-3) says he is now heavily invested in natgas…it appears he’s no dummy!!
In the future, the Chinese will have a sure supply of this gas…ship it home, use it for manufacturing of more cheap but decent quality goods…sell them here (if we still have the $$$$ to buy them) by UNDERCUTTING our Canada made stuff!!
Similar happened with IKEA and Maritime lumber for a long while…Sell our premium logs/lumber to Sweden…let them manufacture the furniture and ship it back to Canada for sale. That stopped for a few years when a local enterprise sprung up to manufacture parts-to-spec here…but it appears we may see the past practice return…the local company is in bankruptcy protection and the courts will decide its fate next week!!
Company employs about 240 people!!
[FONT=Times New Roman][size=3]Brian has to make Brian look good, he is smarter then every one else just ask him.[/size][/FONT]
[FONT=Times New Roman][size=3] He of Course does not belong to any association he is too good for them. [/size][/FONT]
[FONT=Times New Roman][size=3]Yes the Chinese have bought part of a gas company . [/size][/FONT]
[FONT=Times New Roman][size=3]They have a lot of Canadian and US Dollars from us buying TVs Phones ect from them. and want to spend them before they go down in value .
At this time they have no way of getting the gas to China .
It would require a huge Plant to liquefy the gas and this would need an environment study.
It is no different then a Canadian Company going and buying a US company or the US buying a Canadian Company . Happens all the time .
You can guess all you want But what do you think other countries should do with our money when we buy their products.
.Its called free enterprise and I think it is a great system .
Closed boarders have been shown to not work very well look at North Korea it is closed and compare it to south Korea its not closed .
You are a prime example I think you drive a car made of shore .
Look at our eastern Provinces much of their product is sold out side of Canada.
You talk about doing inspections for Europeans do you not feel they should be able to buy a Home /Cottage/Castle here .
How well do you think Nova Scotia if they had a closed border.
LOL Canada was for sell a long time ago . when i was back there Many office building were bought by you guess a (middle east company) . It is called world economics . But i was hoping to see a uprising in good old Canada . But i guess We Canadians are still too Polite
It is a great system but it has to be tweaked every once in a while. In its early days, people could be bought and sold as slaves. Other great examples are the company town where people were essentially tied to the town…had to pay rent, buy food, etc from the company. You were a beneficiary of one of those tweaks…it’s called the IBEW that fought for wages, pensions, health plans, etc…these were non-existent at one time and in some places outlawed!!
We’ll soon be like the US…China holds more of their currency than any other country in the world…that worries them a bit!! A few months back, as the dollar went down, they were discussing what would happen if the Chinese started dumping $$ on the market that would further weaken it…making imports more expensive for their citizens.
Give them more economic power…they will soon us it against us!! They now are the 2nd largest economy after recently surpassing Japan.
[FONT=Arial][size=2]O[FONT=Arial][size=2]ur system seems to be doing OK .
Canada has not suffered much when you look at the rest of the world.
Iceland ,Ireland,Turkey, Are or close to Bankrupt . Spain,Portugal and many more are hurting ,Our Money has gained well over most other currencies .
China and Brazil are two who done even better.
No i use the internet , I used to have a channel on the dish but it went to a geek channel. I talk to my daughter and gather info from the web, CFTO A-channel and so on. Yes i do have the best of the best Both Places are great. If i was any happier i have to pay or be committed lolol