Wednesday, November 19, 2008

Syncrude new deal is no deal at all!

The whole announcement is made up of rubber numbers; more lies and misdirection’s.
The so called agreement restores the 19% to the original of 25%

Syncrude’s output is 305,000 barrels per day which returns $16,436,450 per day US dollars

Syncrude pays 19% Canadian Royalty which returns $2,560,799 in royalty.
Syncrude will pay the original 25% which is $3,369,472 at the start of the new year.

This produces a difference between 19 and 25% in Canadian Dollars of $808,673 per day or, $295,165,769 per year.

In order for this so called new deal to return 975 millions of dollars the price of oil would have to be 150.00 per barrel!

Wth all these numbers, we are still loosing 16% on exchange of which there is no effort to get it back. In fact we loose $787,108,718 on exchange alone. This is the closest figure to the numbers that Eddie is throwing out.

Stelmach is lying through his teeth. We should be asking why!
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