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Boosted by Premier Rachel Notley’s announcement that Alberta would be cutting crude production by 325,000 barrels per day, Canadian oil prices rallied after reaching historic lows in November.
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Gosh I hate this stupid self-serving woman.
Alberta is not Saudi or OPEC. Whatever she does can hardly make a dent on the overall world oil prices or production volumes. But within Canada (or at least Alberta), I'd expect retail gas prices to climb a bit as a result. So who is her production cut helping and hurting? And given the mixed reactions from within the industry, there is no consensus at all as to whether this is something the industry should do, and you can tell this is more of a gamble where the outcome is totally uncertain and anybody's guess.
Notley is playing a dangerous game here, just like she has done in the BC wine ban and empty threats of shutting off petroleum product shipments last year. And again, I will bring up the fact again that the Alberta provincial election is coming up in May 2019, so this is a thinly veiled political theatrics designed far more for her own personal gains, as opposed for the good of her province.
I may or may not like Jason Kenney, but I can't wait to see this Notley woman getting kicked out of her office soon enough.