Well, well, well, what do we have here?
A massive wild fire, most likely set by one of those fuckheads in the big hats from Dallas, is spreading through the Fort McMurray area in Canada, which is also home to 17% of Canada’s oil production.
Isn’t that special? (extra Church Lady)
Although the fires aren’t even close to the facilities, just the idea that it’s around the region that produces over 1 million barrels of crude per day has people lighting their heads on fire to get directionally long crude contracts.
Fucking morons.
The entire city of Fort McMurray has been evacuated, all 88,000. Over 24,000 acres have been torched. People are describing it as an inferno, which happens to be out of fucking control, lunatic nuts.
“All our efforts to control and contain the fire were challenged by this extreme fire behavior,” Schmitte said. “Efforts were also hampered by smoke conditions. Basically fire behavior was beyond all control efforts.”
Basically, the fire has carte blanche to burn everything to the ground, including the wells. More than 1,600 structures have been destroyed and weather conditions have created a ‘tinder box’ scenario for the hundreds of very brave firemen, trying to douse or control the flames.
Crude is higher by more than 4% on this news.
Live Twitter FortMacFire wire.
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nutz how the energy industry is so desperate that they keep trying these insane miss direction plays, one after another. Doah was just a week ago.
Thank God for insurance companies!
“Listen here, Scratch. Let’s set fire to Canada.”
“But what if it hurts r wells?”
“Geico.”
Indeud. Libya mayhem too.
HONU!!
Wow, they are fairly calm given that fire on the opposite side of the road. Crazy stuff.
Bot SCO 92.49 in the premarket…. Luv shorting these supposed disruptions.
The Ark floats once more into the still-calm seas of pajama-trader largess.
Bought more XLE. We know that hedge fund managers are all colluding to squeeze out gain in order to make up for the losses in Jan and Feb. Yellen is playing along right now. There’s no need for fear.
Slightly looking into Chesapeake’s report, on GAAP Basis (the standard that a company should be using, until said company completely implodes), losses would’ve been $1.44 per share vs. a loss of $0.10. Losses were adjusted for asset impairment costs and non-recurring costs… Asset impairment is no good because that’s what they’ve put up for collateral. It’s mind boggling how investors can ignore this.
Ignoring “little” details like that is how investors get crotch punched.
as in the immortal words of John McCain’s running mate — “drill baby, drill !!”