Forget About Iran, Canada a Bigger Risk to

MrLick · 23-06-2009, 08:38 PM

Forget About Iran, Canada a Bigger Risk to Oil Market, Energy Trader Says

The eyes of the world are fixed on the election protests in Iran. Yet, while unrest reigns in one of the world’s largest oil producers, crude prices have actually fallen below $70 a barrel. Stephen Schork, editor of The Schork Report, says that’s because traders have already priced in the risk.

Get this: The big risk to prices, Schork says, comes from our friendly neighbors to the north. Canada is America’s biggest supplier of oil - most of it coming from tar sands. The problem, according to Schork, is that the Obama administration has taken “a rather belligerent stance” toward that supply because it’s not environmentally friendly. If the administration increased taxes on Canadian oil it “could be displaced...that will have an uplift to prices,” he goes on to say.

And, don’t forget the risk south of the border. Maturing oil fields, drug cartels and political instability in Mexico have the potential to drive up prices. If the U.S. doesn’t pay more attention to these risk factors, investment will continue to dry up and leave us paying more at the pump, Schork warns.

So while everyone is focused on geopolitical “hot-spots” like Iran, Nigeria and Venezuela, the real risk to crude prices may be much closer to home.

http://finance.yahoo.com/tech-ticker...&asset=&ccode=

Twizted Logik · 23-06-2009, 08:53 PM

eek

Saffire · 23-06-2009, 11:03 PM

Heh, something tells me this oil trader is long and he has a horse in this race!

But he's probably right.

23-06-2009, 08:38 PM	#1
MrLick Lemon World Join Date: Nov 2003 Posts: 26,022 My Mood: Location: Spokane. Gender: Country: Chat posts: 0 Thanks given: 62 Thanked 53 Times in 19 Posts	Forget About Iran, Canada a Bigger Risk to Forget About Iran, Canada a Bigger Risk to Oil Market, Energy Trader Says The eyes of the world are fixed on the election protests in Iran. Yet, while unrest reigns in one of the world’s largest oil producers, crude prices have actually fallen below $70 a barrel. Stephen Schork, editor of The Schork Report, says that’s because traders have already priced in the risk. Get this: The big risk to prices, Schork says, comes from our friendly neighbors to the north. Canada is America’s biggest supplier of oil - most of it coming from tar sands. The problem, according to Schork, is that the Obama administration has taken “a rather belligerent stance” toward that supply because it’s not environmentally friendly. If the administration increased taxes on Canadian oil it “could be displaced...that will have an uplift to prices,” he goes on to say. And, don’t forget the risk south of the border. Maturing oil fields, drug cartels and political instability in Mexico have the potential to drive up prices. If the U.S. doesn’t pay more attention to these risk factors, investment will continue to dry up and leave us paying more at the pump, Schork warns. So while everyone is focused on geopolitical “hot-spots” like Iran, Nigeria and Venezuela, the real risk to crude prices may be much closer to home. http://finance.yahoo.com/tech-ticker...&asset=&ccode= __________________ Even after all this time, the Sun never says to the Earth: "You owe me". Look at what happens with a love like that. It lights the whole sky.

23-06-2009, 08:53 PM	#2
Twizted Logik For you I'd wait Join Date: Apr 2009 Posts: 1,232 My Mood: Location: NY Gender: Country: Chat posts: 0 Thanks given: 0 Thanked 1 Time in 1 Post	eek __________________ Sunlight opened up my eyes To see for the first time I'm Michael. Like Westen. Only I'm a better spy. > Spoiler Quote: Originally Posted by PePe57 I love how this thread turned into a conversation about peeing Quote: Originally Posted by ColdplayRulesTheWorld Mainly "A Rush of Blood to the Head" that song is fucking brilliant. Quote: Originally Posted by The Mad Hatter It's quite a curse, being intellectual.

23-06-2009, 11:03 PM	#3
Saffire Classically liberal. Join Date: Mar 2005 Posts: 4,406 My Mood: Gender: Country: Chat posts: 0 Thanks given: 0 Thanked 0 Times in 0 Posts	Heh, something tells me this oil trader is long and he has a horse in this race! But he's probably right.