[Newsbot]

Title: CPP invests $250M in oilsands
Category: Misc CDN
Posted By: Strutz
Date: 2010-07-06 12:06:28
Canadian

[hurley_108]

HA HA HA HA HA! This is so awesome on so many levels!

[sandorski]

That's a lot of $$ to be putting into 1 Company. Especially considering their prospects, 5k/bpd doesn't seem like much capacity. Not sure of the wisdom in this Investment.

[hurley_108]

$250 million for 17% means the company is valued at $1.47 billion. At $70/barrel and 5000 barrels per day, that's 4201 days of production, or 11.5 years of operation. Back of the envelope, to be sure, but sounds like a plausible investment to me.

I just think that the irony of the CPP, one of the great creations of the left, investing in the oil sands is just beautiful. I love a good irony.

What I don't love is the CBC running, yet again, to Mike Hudema for comment. Man that guy pisses me off....

[sandorski]

hurley_108 hurley_108:

$250 million for 17% means the company is valued at $1.47 billion. At $70/barrel and 5000 barrels per day, that's 4201 days of production, or 11.5 years of operation. Back of the envelope, to be sure, but sounds like a plausible investment to me.

I just think that the irony of the CPP, one of the great creations of the left, investing in the oil sands is just beautiful. I love a good irony.

What I don't love is the CBC running, yet again, to Mike Hudema for comment. Man that guy pisses me off....

Irony not found. Trudeau's Liberals invested heavily in the Oil Sands back in the 70's/80's.

[hurley_108]

sandorski sandorski:

Irony not found. Trudeau's Liberals invested heavily in the Oil Sands back in the 70's/80's.

That was then, this is now. Remember, everyone was worried about the next ice age in the 70s.

[sandorski]

hurley_108 hurley_108:

sandorski sandorski:

Irony not found. Trudeau's Liberals invested heavily in the Oil Sands back in the 70's/80's.

That was then, this is now. Remember, everyone was worried about the next ice age in the 70s.

Oft repeated falsehood is false. For a couple years the idea was kicked around. Certainly not by "everybody", just a small group of Scientists who eventually saw the error and moved on.

[hurley_108]

sandorski sandorski:

hurley_108 hurley_108:

sandorski sandorski:

Irony not found. Trudeau's Liberals invested heavily in the Oil Sands back in the 70's/80's.

That was then, this is now. Remember, everyone was worried about the next ice age in the 70s.

Oft repeated falsehood is false. For a couple years the idea was kicked around. Certainly not by "everybody", just a small group of Scientists who eventually saw the error and moved on.

Hence the smilie.

[Thanos]

A sound investment in a safe and reliable commodity. And it's even better if it leads to more Canadian investment that displaces (or even drives out altogether) the foreign investment that keeps trying to undercut and rewrite Canadian rules and regulations.

[Proculation]

I also think it's a very good investment. We all know oil will go up in the next years.