What Are Market Predictions?

“Mon, Aug 17, 2015 – 8:15 AM
Bill Baruch, chief market strategist, iiTrader joins BNN to discuss why he’s watching crude oil to move sharply higher today.”
“oil will rally today” is the BNN video title, but I didn’t hear the trader say that, but he did say a rally by midweek. In the video he notes $35 oil is realistic in the near term (which was actually a better prediction), and it will be unlikely to rebound to $60 if production levels stay similar to now.

Crude’s drop below $38 marks ‘epic’ time in the oil market
Published: Aug 24, 2015 11:27 a.m. ET

The MarketWatch graph shows there was no rally on the 17th, oil finished the day down.

Quite the “midweek” “rally”.

In early trade on Monday morning, the price of West Texas Intermediate was down about 5.7% and traded as low as $38.13 a barrel, a new post-financial-crisis low for the commodity that has been getting hacksawed this year.

WTI prices are down about 60% against a year ago, and after finding some stability earlier this year,

If oil gets down to below about $30, the Tarsands are no longer profitable to exploit! No wonder the Premier of Sask is shitting bricks about his bet on oil while totally neglecting renewable energy investments.

Political Advice From Conservatives

“If media insist on covering #DuffyTrial, then cover other political party scams as well. Stop protecting #NDP & #LPC” – Gail Dyer

“Basically Premier Brad Well has rightfully told Cdn. Media less talk about #DuffyTrial & more focus on our Cdn. Economy. #WellSaid.” – Bill Brasky

Premier Wall has focused mostly on oil energy, while totally neglecting Saskatchewan’s renewable energy resources.

Meanwhile a state known for its previous love of oil is moving on to greener energy pastures.

Oil Is Not A Four Letter Word

Coal is a four letter word, however.

Perhaps Wall is a bit touchy about fossil fuels because Saskatchewan produces more greenhouse gases per person than any other Canadian province [link added], and is one of only three provinces whose emissions have risen since 1990. The province contains only 1 per cent of the country’s population, but produces a disproportionate 10 per cent of national emissions.

Saskatchewan recorded the highest deposit-paid bottle return rate in Canada (82 per cent) and largest wildfire detection camera system in North America, said the ministry.

Yet we had the worst wildfire season, perhaps ever, this Summer.

Until we get on top of the big industrial emissions we are going to have great trouble achieving the targets that have been set for the province,” said Coxworth.

“We are looking to beef up that part of our portfolio – with a quarter of our power production already renewable,” said Tremblay.

The ministry on Earth Day focused on what individuals can do in their everyday lives.

{Emphasis added, to highlight that what the ministry is doing is pushing responsibility for the problem off of themselves and onto the actions of individuals who cannot individually organize us into a more efficient system.}

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Smoke ‘Em If You’ve Got Trees

We’ve only hand planted trees (and their heirs), but we also have smoke.

ADDED

Pelly Museum Fire

I was last in Pelly in 2007 and never got into the museum there.

Pelly Museum and caboose panorama 2007

Today it lost that museum to a fire.

I also was outside it in 2006.


UPDATE:
Tiny Town SK:
“My neighbor, a director (and in his 80’s) is pretty devastated. They just finished a fund raiser for up-grades. It rough when you put so many years into a project and have it go up in smoke in hours. The railway building beside the museum survived unscathed and will probably continue as a limited version.”

Saving Canada $90,000,000/year not worth Wall’s “effort”

“The Senate is never going to run properly and it’s never going to be worth the money we put into it. So it should be scrapped.”

Wall continues
“I’m not going to actively campaign for the Senate to be abolished.”

“even in light of this latest mess, then it’s not really worth the effort to try to change [the provinces’ {opposed to abolition}] minds.”

I don’t think Premier Wall is the sort of leader who cares to be first, to be innovative, or will stick his neck out to make important changes to save taxpaying citizens hundreds of millions of dollars over a few years.

If Wall spent just a week trying to convince other provinces to campaign to change the Constitution to reform or eliminate the Senate, I’d appreciate his effort even if it didn’t bear fruit. By not trying any harder to do something about it than the average blogger/Facebooker/Tweeter, it’s not really something someone can respect out of one of Canada’s supposed top statespersons.

I didn’t like Roy Rowmanow’s government -at all-, but I can’t imagine him backing down as quickly as Wall has in regard to Senate reform.