Well written article on PCZ. I am having an interesting time reading abo...

Suggestion by Tim Plaehn on 2008-03-04 16:31:34

Well written article on PCZ. I am having an interesting time reading about how renewable energy is going to eat into the profits of oil companies. I recently saw a study that renewables will only be able to provide 8% of the world's energy demand in something like 2030 and hydrocarbons will still make up 70%. I think for oil companies if they can find it, process it, and sell it at a higher price than their costs, they will be able to make money, lots of money for many years. With a company like this I would be looking at the cost of extracting oil from oil sands vs. the current and future prices of oil to see if the company is projected to be profitable along several scenarios. Also, the exchange rate can have a significant effect on any Canadian company that does business in U.S. dollars.

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I disagree with "The Bears" contention #3 regarding green energy affecting the long term demand for oil. Long term demand, 10 year, 50 year, 100 hundred year is going to be higher and higher. Green technology will only supply a very small percentage of US or world demand. Green energy will never have a significant effect on the demand for canadian petroleum.

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