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Goldman Sachs downgrades oil forecast, says $20 per barrel is possible


Business | 206751 hits | Sep 11 7:33 am | Posted by: ShepherdsDog
16 Comment

Goldman Sachs has bad news for anyone banking on the oil price rebounding any time soon, saying in a report that the price of crude could fall to $20 per barrel by the time it's all said and done.

Comments

  1. by avatar ShepherdsDog
    Fri Sep 11, 2015 2:34 pm
    Ow ....this could kill any and all activity in the oilsands for a loooooong time.

  2. by OnTheIce
    Fri Sep 11, 2015 2:41 pm
    "ShepherdsDog" said
    Ow ....this could kill any and all activity in the oilsands for a loooooong time.


    More importantly, how is this Harper's fault?

  3. by avatar ShepherdsDog
    Fri Sep 11, 2015 2:43 pm
    The nutters will think of some way to blame him.

  4. by avatar BartSimpson Gold Member
    Fri Sep 11, 2015 2:51 pm
    "ShepherdsDog" said
    Ow ....this could kill any and all activity in the oilsands for a loooooong time.


    It's also severely hampering Putin's ambitions to rebuild the Red Army and the Soviet forces.

  5. by avatar martin14
    Fri Sep 11, 2015 3:02 pm
    Oil at $20. Jesus, that's not funny. That will close Alberta down.

  6. by Thanos
    Fri Sep 11, 2015 3:11 pm
    "martin14" said
    Oil at $20. Jesus, that's not funny. That will close Alberta down.


    That'll make the Dippers jealous, if the market destroys Alberta before the NDP has a chance to. :|

  7. by avatar ShepherdsDog
    Fri Sep 11, 2015 3:17 pm
    Maybe we can find 19 Canadian oilfield workers to play havoc with those Saudi fucks.

  8. by Thanos
    Fri Sep 11, 2015 3:24 pm
    "ShepherdsDog" said
    Maybe we can find 19 Canadian oilfield workers to play havoc with those Saudi fucks.


    But, but they're our best friends in the region because of Iran, something, something. :evil:

  9. by avatar uwish
    Fri Sep 11, 2015 3:38 pm
    Cenovus is starting it's first round of ~400 employee cuts next month, then another round some time in the new year....

  10. by Thanos
    Fri Sep 11, 2015 3:44 pm
    Pretty sure it's all over for good. There'll be no recovery of any significance for the next ten to fifteen years. It's not just the Saudis or the companies lashing out at the Alberta NDP either. Too many special interest groups have too much power now and they're going to do everything they can to take us down permanently.

  11. by avatar BartSimpson Gold Member
    Fri Sep 11, 2015 3:46 pm
    Upside: 91 octane gas/petrol was US .68 cents a liter at Costco when I filled up last night.

    The same fuel is .44 cents a liter in Louisiana!

  12. by Thanos
    Fri Sep 11, 2015 3:50 pm
    Golly, those low prices sure make up for all those destroyed lives and businesses. :roll:

  13. by avatar ShepherdsDog
    Fri Sep 11, 2015 3:51 pm
    "Thanos" said
    Pretty sure it's all over for good. There'll be no recovery of any significance for the next ten to fifteen years. It's not just the Saudis or the companies lashing out at the Alberta NDP either. Too many special interest groups have too much power now and they're going to do everything they can to take us down permanently.


    All the unemployed easterners will have to head home to those wonderful manufacturing jobs back in Ontario......oh wait.

  14. by avatar Robair
    Fri Sep 11, 2015 5:59 pm
    Shitty! What else is there to say?

    Very shitty.



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