Author Topic: No llores por mí Alberta  (Read 7105 times)

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Offline JMT

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Re: No llores por mí Alberta
« Reply #765 on: October 01, 2020, 08:06:37 pm »
Maybe you should read the article. It says the growth was fuelled largely by the energy and service sectors.

In the middle of low oil. 'Energy' is a pretty broad term. The service sector is the backbone of any advanced economy.

Offline Gorgeous Graham

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"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019
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Offline Gorgeous Graham

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Re: No llores por mí Alberta
« Reply #767 on: October 01, 2020, 08:19:43 pm »
Investors realize that there is far more cost to destroying the planet. These costs are material, not moral.

Provide evidence that most investors fled Canadian oil companies because of concerns about climate change.
"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019

Offline JMT

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Re: No llores por mí Alberta
« Reply #768 on: October 01, 2020, 08:23:26 pm »
Provide evidence that most investors fled Canadian oil companies because of concerns about climate change.

Not Canadian oil companies - oil companies:

https://www.petroleum-economist.com/articles/low-carbon-energy/energy-transition/2020/asset-managers-deliver-brutal-verdict-on-oil

It's a well known phenomenon.


Offline JMT

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Re: No llores por mí Alberta
« Reply #770 on: October 01, 2020, 08:30:24 pm »
I forgot about this one that just happened:

“Our move to exclude investments in fossil fuels from our funds is a further step in our efforts to lower the carbon footprint of our investments, transitioning to a lower carbon economy,” said Victor Verberk, Robeco’s CIO fixed income and sustainability.

https://financialpost.com/pmn/business-pmn/dutch-asset-manager-robeco-cuts-fossil-fuels-from-all-its-funds

Offline wilber

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Re: No llores por mí Alberta
« Reply #771 on: October 01, 2020, 08:49:09 pm »
A high Canadian dollar relative to our number one customer isn't an economic positive.

So we all need to be poorer in order to compete. Sounds a lot like the rational that lead to outsourcing everything to Asia.
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Offline Gorgeous Graham

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Re: No llores por mí Alberta
« Reply #772 on: October 02, 2020, 10:52:28 pm »
"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019

Offline JMT

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Re: No llores por mí Alberta
« Reply #773 on: October 04, 2020, 11:41:08 am »
Quote the evidence.  I see none here.

Did you..open it?

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Environmental, social and governance (ESG) strategies, which factor in climate change risk criteria, have gone mainstream in recent years. A major turning point arrived in January when the world’s biggest investment manager with assets under management (AuM) of c.$6.5tn, BlackRock, announced sweeping changes to its investment and engagement strategies and joined the Climate Action 100+ pressure group.

Managers have already moved beyond simply excluding carbon-intensive companies from just their bespoke ESG investment funds. They are also doing so—as well as exerting more and more pressure on companies at annual general meetings—through their core investment strategies, which have many times greater AuM.

Offline Gorgeous Graham

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Re: No llores por mí Alberta
« Reply #774 on: October 04, 2020, 02:54:53 pm »
Did you..open it?

Yes.  Ok, what is the specific impact of this behaviour on the markets and oil industry investment?  Approx what % of investors fled the industry in the last 5 years because of climate change concerns vs profit concerns?  There's zero data in this quote.  Showing that some have divested from the oil industry doesn't indicate that the drop in oil markets has been caused by it nor does it indicate any specifics on the impact this has had on the industry in terms of dollars or percentage.

If some environmentally concerned westerners divest due to environmental concerns the stock price goes down.  If this causes the stock price to fall below the actual value of a company, it becomes a profitable buy for someone else who doesn't care about environmental concerns and only cares about making money, that could come from other westerners or some greedy rich dudes in China.  Over the longterm, the stock market typically values companies more or less correctly, because that's one of its core functions.

The fact that oil companies have become far less profitable over the last 5 years due to the global price drop of oil and this coincides with the drop in share value for oil companies tells us that this is almost certainly the driving factor in investors divesting in oil the last 5 years, and it not mainly being environmental concerns.
"The economy has been relatively strong but Trudeau has chosen to run deficits year after year & has said will continue to do so well into the future.  This means we'll be in a worse & more vulnerable financial position when a recession hits when we HAVE to run deficits again." - Me, Oct. 3, 2019
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Offline JMT

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Re: No llores por mí Alberta
« Reply #775 on: October 04, 2020, 06:01:06 pm »
You're living in a dream world if you don't see how prevalent environmental concerns have become to investors. The costs of AGW are becoming astronomical.
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Offline Montgomery

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Re: No llores por mí Alberta
« Reply #776 on: October 05, 2020, 12:30:01 pm »


The fact that oil companies have become far less profitable over the last 5 years due to the global price drop of oil and this coincides with the drop in share value for oil companies tells us that this is almost certainly the driving factor in investors divesting in oil the last 5 years, and it not mainly being environmental concerns.

Excuse me! The reason why oil companies have become far less profitable over the last 5 years, even if that's not exactly correct, has everything to do with supply and demand.

Have alternative sources of energy had an influence on demand?

Offline wilber

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Re: No llores por mí Alberta
« Reply #777 on: October 06, 2020, 06:04:26 am »
Excuse me! The reason why oil companies have become far less profitable over the last 5 years, even if that's not exactly correct, has everything to do with supply and demand.

Have alternative sources of energy had an influence on demand?

It does have to do with supply and demand. Most of the drop has been due to over supply but alternate sources have only been responsible for part of it. Until Covid hit, annual world oil consumption had been increasing.
"Never trust a man without a single redeeming vice" WSC

Offline Montgomery

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Re: No llores por mí Alberta
« Reply #778 on: October 06, 2020, 12:02:48 pm »
It does have to do with supply and demand. Most of the drop has been due to over supply but alternate sources have only been responsible for part of it. Until Covid hit, annual world oil consumption had been increasing.

Oil prices are being manipulated to such a degree now wilbur that carrying on a debate on the reasons for price changes is pretty well meaningless.
The only thing we can know for certain is that wars are being fought for the resource and Cold wars are being fought by the  US against both Russia and China for the same reason.

So it's got nothing to do with how much any of the big players will pay for oil, it's all about gaining access to the oil because of favoured status. Venezuela is intent on selling to Russia and China and that just can't be when it comes to US interests.

This isn't rocket science and it hasn't been since the US tried to corner Iraq's oil with the first Gulf war.

Offline waldo

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Re: No llores por mí Alberta
« Reply #779 on: October 19, 2020, 06:39:01 pm »
Feb. 20, 2019: UCP leader, JustVisitingJason unveils the broad policy plans for his party’s health platform ahead of Alberta’s election campaign... offering, no less than, a Public Health guarantee!


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Oct 17, 2020: A startling proposal for private health care from Kenney's party

UCP members endorse creating private health-care option at annual general meeting

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A resolution supporting a private health-care system existing alongside the public system was one of 30 passed by United Conservative Party members during their annual general meeting Saturday.

The policy was endorsed by 53 per cent of 793 party members who voted, despite the resolution being criticized during a virtual debate Friday. The AGM drew 1,400 attendees.
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