tag:blogger.com,1999:blog-11333084.post2935599443397739897..comments2023-09-12T12:07:08.126-02:30Comments on Web Talk - Newfoundland and Labrador: A Closer Look at Reid's Questions on HebronPatriothttp://www.blogger.com/profile/17364831921954903098noreply@blogger.comBlogger25125tag:blogger.com,1999:blog-11333084.post-49223778410667889572007-09-04T10:25:00.000-02:302007-09-04T10:25:00.000-02:30folks:the figures are between $7 and $11 billion f...folks:<BR/>the figures are between $7 and $11 billion for the life of the project. estimates for development (building the platform and topsides, and drilling the initial wells) are $4-6 billion (up from 3-5 billion 18 months ago). the rest of the $7-11 billion would be drilling, maintenance and operational costs over the 20 year life of the project.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-57863977878472805172007-09-04T09:15:00.000-02:302007-09-04T09:15:00.000-02:30Thanks for correcting my mistake (3.20 rather than...Thanks for correcting my mistake (3.20 rather than 3.90). You might want to read the piece again though. In it I said, "some analysts expect the cost of production to be around $3.90 per barrel" I never said "Most analysts"<BR/><BR/>Regardless of this, the point is that the risk level is not high based on today's numbers. It doesn't take any analysts to see that. If the risks were too high do you honestly believe companies like Chevron and ExxonMobil would be so interesting in coming back and making a deal so soon?Patriothttps://www.blogger.com/profile/17364831921954903098noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-6233736993504760892007-09-04T07:57:00.000-02:302007-09-04T07:57:00.000-02:30Wow, it must be nice to be so smart.I found the in...Wow, it must be nice to be so smart.<BR/><BR/>I found the interview. Thanks for taking the time to answer. <BR/><BR/>The number he gave was $3.20, not $3.90. It isn't "most analysts". It's one guy who is a reporter for BNN quoting someone else.<BR/><BR/>I found some information at NOIANET on White Rose. White Rose cost is $3.00 a bareel. hebron is bigger and more expensive so I doubt very much it is only 20 cents more expensive than White Rose.<BR/><BR/>I wanted to check it out so I could learn something. I did learn something. I learned it is important to check information because sometimes it isn't right or there is room to doubt it.<BR/><BR/>Looking for that one bit of information, I also found information on how the development and discovery costs get paid back and what that costs per barrel. Patriot's comment about $3.90 a barrel and $70 a barrel doesn't take all of it into consideration.<BR/><BR/>Thanks for taking the time. I learned a lot of new information but most of all I learned to check information people give on blogs particularly when they don't give any links. Sometimes it turns out the information is wrong or that more information is needed to help under stand what is being said.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-57501674221792247222007-09-03T19:56:00.000-02:302007-09-03T19:56:00.000-02:30To Anon: No, I don't remember the analyst.To USSR...To Anon: No, I don't remember the analyst.<BR/><BR/>To USSR: That comment doesn't even merit a response.Patriothttps://www.blogger.com/profile/17364831921954903098noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-75726732760099823662007-09-03T16:52:00.000-02:302007-09-03T16:52:00.000-02:30Regardless of how the deal goes down, the North Ea...Regardless of how the deal goes down, the North East Avalon marches on regardless.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-28098445334129551892007-09-03T16:44:00.000-02:302007-09-03T16:44:00.000-02:30"Was that bloomberg, cnn or where?" September 03, ..."Was that bloomberg, cnn or where?" <BR/><BR/>September 03, 2007 2:01 PM -Patriot ,if I may so Bold as to ask a question . <BR/><BR/>Did you not have people register for comments ,too due away with this kind of De-Bate.<BR/><BR/>"When the news of the Hebron MOU came out newspapers, analysts, Bloomberg, CNN, CTV and others all reported it as either a 5 or 6 billion dollar project"<BR/><BR/>This is Pretty Common Knowledge is it not!!!!Or ,do we have to debate this as well,lol!!!;)Ussrhttps://www.blogger.com/profile/04468652036222401731noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-10815814175150478492007-09-03T16:30:00.000-02:302007-09-03T16:30:00.000-02:30Do you happen to remember which analyst? This is ...Do you happen to remember which analyst? <BR/><BR/> This is one of the reasons why links are so good. you can go and find these things out and learn more.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-17901074609387741112007-09-03T15:22:00.000-02:302007-09-03T15:22:00.000-02:30The 3.90 was quoted by an oil analyst during an in...The 3.90 was quoted by an oil analyst during an interview on CTV Newsnet the day of the announcement.Patriothttps://www.blogger.com/profile/17364831921954903098noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-8794587944127058102007-09-03T14:01:00.000-02:302007-09-03T14:01:00.000-02:30It would be just as easy for you to provide some l...It would be just as easy for you to provide some links in the post so the rest of us could follow along, patriot.<BR/><BR/>The 5, 6 7 and 11 billion are around but the $3.90 a barrel production cost, for argument sake.<BR/><BR/>Was that bloomberg, cnn or where?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-68653035764256936212007-09-03T12:16:00.000-02:302007-09-03T12:16:00.000-02:30PS,............"Long Live The NRA"PS,............"Long Live The NRA"Ussrhttps://www.blogger.com/profile/04468652036222401731noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-33802164668774595492007-09-03T12:15:00.000-02:302007-09-03T12:15:00.000-02:30Patriot ,just one other comment if I may."And wasn...Patriot ,just one other comment if I may.<BR/><BR/>"And wasn't Danny going to stand up for "our rights", not those of "Big Oil" that he railed against for years?"<BR/><BR/>To make my point Patriot as clear as possible.Mr Williams and his administration got everything that they had been asking for.Maybe a 1/2% point differance here or there.A link was given from the Golbe and Mail Patriot but that has since expired.This link to the Telegram gives some explanation .<BR/><BR/>http://www.thetelegram.com/index.cfm?main=multimedia&MMID=618<BR/><BR/>May I add as I have already stated Patriot that furhter confrontation,is that and that alone,confrontation.<BR/>Why continue to fight with an enemy that has been defeated.That would amount to nothing more then stupidity.<BR/><BR/>If I can take a point from Stephen,and add that this deal is not just a break for the Williams administration ,but it is causing Governements and organizations around the world to reassess thier relationship with Big Oil.<BR/><BR/>As for the point that what I am stating is Hero worship or that I am a Danny Fan.If the Individual stating those claims knew me or my Ideology ,i think they would recant those staments .<BR/><BR/>Personally I think that Mr Williams as a Premier is nothing more then a Paper Tiger.He has accomplished good things for the people of Newfoundland and Labrador,but time and time again all he has shown us is that "IF NOT FOR Canada" <BR/><BR/>My opinoin of Mr Grimes,well,thats a long topic for a short discussion on a pathetic,weak,and insignifagant administration given to canada by the people of Newfoundland and Labrador .In my opinoin,they recieved from Mr Grimes what they had asked of him.A Happy Glowing Friendly ProCentral Canadain Governement ,and they got what they put in Governement.A Pro Ottawa Governement.And,like Tobin,Wells,and Smallwood before him as histroy has shown ,and shown well miight I add.Every single time that we give an inch ,they stab us in the back and take a mile.What do I have to say on the debate. :)Ussrhttps://www.blogger.com/profile/04468652036222401731noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-45657215021968046012007-09-03T10:26:00.000-02:302007-09-03T10:26:00.000-02:30The numbers I used aren't hard to find. When the ...The numbers I used aren't hard to find. When the news of the Hebron MOU came out newspapers, analysts, Bloomberg, CNN, CTV and others all reported it as either a 5 or 6 billion dollar project. Even considering that those numbers were based on estimates made before talks broke down it isn't hard to speculate that the price would be somewhere between those numbers and a few billion more.<BR/><BR/>If you need links to find references to those numbers why don't you look them up yourself. They aren't hard to find.Patriothttps://www.blogger.com/profile/17364831921954903098noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-68665502062167379702007-09-02T21:12:00.000-02:302007-09-02T21:12:00.000-02:30Most analysts?The Premier used the figures of get...Most analysts?<BR/><BR/>The Premier used the figures of getween $7 and $11 billion. <BR/><BR/>Since you didn't link to anyone, what analysts are you discussing when you say "most"?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-60885231290326673402007-09-02T18:53:00.000-02:302007-09-02T18:53:00.000-02:302. Why did you agree to freeze the royalty rate pa...<B>2. Why did you agree to freeze the royalty rate paid by the oil companies at one percent until payout? </B><BR/><BR/>I just wanted to point out that Alberta currently charges this amount for oil sands oil developments - one percent royalty until payout. It's pretty standard and is the foundation for the super oil economy in Alberta. Alberta's oil sands were comparatively quiet until Alberta adopted this 1% policy in the mid-90's. Alberta is currently looking at increasing it's royalty demands - partly because other oil jurisdictions, including Newfoundland and Labrador, demand more. <BR/><BR/>It makes me laugh that Danny Williams is so often accused of being business un-friendly especially with the oil companies and yet Alberta, which everyone looks to as a beacon of business sensibility, is now looking to places like "backwards" NL for direction.<BR/><BR/>The Globe and Mail recently had a 2-3 page spread on this very issue. It's worth checking out - sorry I don't have a link.stephenhttps://www.blogger.com/profile/06192434366533809267noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-6443162199330671352007-09-02T18:25:00.000-02:302007-09-02T18:25:00.000-02:30USSR disagreed with my comment that: "even if the...USSR disagreed with my comment that: "even if the thing is a give away its a done deal and we can't do anything about it"<BR/><BR/>I follow your train of thought to some degree USSR but, while we may be able to protest and get the public up in arms (if it's a bad deal) in reality, with a majority in the house there is really nothing we can do to stop it. That's my point.<BR/><BR/>I support the Williams government (though I am not normally a PC supporter or a Liberal or NDP) but the fact remains that we don't know enough and, while it may well be a great deal, if it isn't, can you tell me how it can be stopped after the election?<BR/><BR/>Anon said, "The premier himself used the figure $11 billion so it isn't really 'bandied about"."<BR/><BR/>He or she then asked why I would recommend using 5billion as a base then doubling it to get a range of how much the cost would be.<BR/><BR/>Well, first of all, if numbers are thrown out, by the premier or anyone else "bandied" about is a reasonable term since we don't know the details (isn't that what everyone is so upset about).<BR/><BR/>Secondly, my point was that if you take the estimates from 16 months ago that had the project at around 5billion and then use the high end of doubling that (10billion) you are probably somewhere in the ballpark. Why you are trying to make it seem that I'm doning anything other than grabbing at a rough estimate is beyond me. Besides, do you really think that in 16 months the project actually went more than double the original estimates. Come on, you must be listening to Liberal Radio stations or something. Most analysts put it at around 5.5 to 7 billion.<BR/><BR/>WJM tried to make something of my comments, without putting it in context as is usual for this guy: "Purely a political question intended to score points."<BR/><BR/>He said it was a valid question. <BR/><BR/>First of all, there were 13 questions and as I said, not all were valid, though some were.<BR/><BR/>Some were clearly intended by the Liberal party to score points. It's not hard to pick those out if you look at what was asked.<BR/><BR/>Better luck next time WJM.Patriothttps://www.blogger.com/profile/17364831921954903098noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-2472074450828805092007-09-02T15:29:00.000-02:302007-09-02T15:29:00.000-02:30What may I ask would this governement be,if it did...<B>What may I ask would this governement be,if it did not protect the rights of private companys and Privacey.</B><BR/><BR/>Which rights would those be?<BR/><BR/>And wasn't Danny going to stand up for "our rights", not those of "Big Oil" that he railed against for years?<BR/><BR/>It's amazing to see the flexible standards of the DannyFans. The crucified Grimes over the Voisey's Bay agreement - which was made public from the get-go, pretty much - because Danny told them it was bad.<BR/><BR/>Now they don't need to see the Hebron deal - which Danny won't release, anyway, because he cozied up to Big Oil like he said he wouldn't - because Danny Williams says it's a good deal and they don't need to know anyway.<BR/><BR/>Pathetic. Hero-worship. Smallwood all over again.WJMhttps://www.blogger.com/profile/08070910923518931583noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-51237100994798577282007-09-02T14:55:00.000-02:302007-09-02T14:55:00.000-02:30"even if the thing is a give away its a done deal ..."even if the thing is a give away its a done deal and we can't do anything about it"<BR/><BR/>Patriot ,if people read this agreement I think it points out a great many safety-nets for the people of Newfoundland and Labrador in regards to income and rising prices.<BR/><BR/>It is not like other agreements that the province has made with the help of Ottawa that has crippled us as a Province.Ussrhttps://www.blogger.com/profile/04468652036222401731noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-89960070267319599982007-09-02T00:30:00.000-02:302007-09-02T00:30:00.000-02:30The premier himself used the figure $11 billion so...The premier himself used the figure $11 billion so it isn't really 'bandied about".<BR/><BR/>Why would you take a low number and then double it to come up with something. What was your reason for doubling the number when you had a high end and a low estimate right in front of you.<BR/><BR/>The MOu should be released. I just don't agree with your comment that even if the thing is a give away its a done deal and we can't do anything about it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-60621058876415320012007-09-01T22:26:00.000-02:302007-09-01T22:26:00.000-02:30HMMMMMMMMMMMMM,............some of the great minds...HMMMMMMMMMMMMM,............some of the great minds do not sometimes agree.<BR/><BR/>What may I ask would this governement be,if it did not protect the rights of private companys and Privacey.<BR/><BR/>Does one now have to accept from the Governement of Newfoundland and Labrador,that any deal createed on its behalf must have 100% clarity ,before its people .<BR/><BR/>Nonsence!!!Ussrhttps://www.blogger.com/profile/04468652036222401731noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-37953639333427494082007-09-01T22:03:00.000-02:302007-09-01T22:03:00.000-02:30Hi all, especially the anon who said, "all the ne...Hi all, especially the anon who said, "all the news reports and the Premier's statement said the cost for the project was more than what you said. Would you start giving us links to see where you get your information?"<BR/><BR/>No big secret Anon. The numbers being bandied about for the last few years and in the media today put the cost at somewhere between 5 and 11 billion. In my commentary I mentioned using 4.9% of 5 billion and then doubling it as an estimate of the provincial cost. I figured it was in the range.<BR/><BR/>I also agree with you, and Blogerwoman that The Premier should release the MOU.Patriothttps://www.blogger.com/profile/17364831921954903098noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-9310424527298926152007-09-01T21:23:00.000-02:302007-09-01T21:23:00.000-02:30As Always Myles,another excellent piece of writing...As Always Myles,another excellent piece of writing.<BR/><BR/>"Nan always said that if you have a talent ,you must use it.If not ,the devil "Wins"<BR/><BR/>Its nice to see that you are capable of using yours.<BR/><BR/>In regards to what Mr WJM is saying Patriot,<BR/><BR/>"What, is he their Buddy or something? I though Danny was going to "stand up" to them, and "fight"? <BR/><BR/>I think the attuide of Canada has finally sunk into Mr Williams.Like canada said you want it ,fight your own war.He Did and he won.Why continue to fight when you get what you want.<BR/><BR/>To quote the Prime Minister of Canada,"what we are seeing here is Confrontation for the sake of Confrontation."<BR/><BR/>It must be a Mainland thing Myles.<BR/><BR/>"Ya knows dat crowd on da mainland,gets a few drinks an all da wants is a rackett."<BR/><BR/>"Long Live The NRA",............Ussrhttps://www.blogger.com/profile/04468652036222401731noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-82425496225888972702007-09-01T17:26:00.000-02:302007-09-01T17:26:00.000-02:30Patriot, all the news reports and the Premier's st...Patriot, all the news reports and the Premier's statement said the cost for the project was more than what you said.<BR/><BR/>Would you start giving us links to see where you get your information? It would help a lot if we knew where you were getting some of things you say.<BR/><BR/>Blogerwoman is right. The Premier should release the MOU.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-48714550224813073142007-09-01T14:17:00.000-02:302007-09-01T14:17:00.000-02:30THE QUESTIONS SHOULD BE ANSWERED.The questions Ger...THE QUESTIONS SHOULD BE ANSWERED.<BR/>The questions Gerry Reid put forward are very pertinent and if we are to judge whether a potential contract which might result from what is contained within the Memo of Understanding will be a benefical one to the province of Newfoundland and Labrador, we need to have the questions answered so we can digest the contents.<BR/>We demanded that Roger Grimes release the details of the Voisey's Bay Statement of Principles and we have to demand that you, Premier Williams do the same on the Hebron MOU. While I know that Premier Williams can construct a good contract, the question remains did he cave in to too many demands from BIG OIL AND OTTAWA, and therefore any contract that results will give too much away to other jurisdictions?<BR/><BR/><BR/>I wouldn't place face value on any politician ever again. What I have learned of the values of today's politicians on how they toe the Ottawa line, Big Industry line and instead do what is right to move themselves forward, instead of doing what is right for their constitutents when it comes to resources development, makes them very undependable in my mind. The blind faith era is over for me.<BR/><BR/>So Premier Williams do what is right and please release the contents of the Memo of Understanding so that we know what is in them. I supported you Premier Williams on your request for the release on Voisey's Bay Statement of Principles and I am now supporting Gerry Reid in his request for information so that the electrorate can be informed on the HEBRON MOU. It is a symbol of 'good governance'.<BR/>Please do what is right!Blogerwomanhttps://www.blogger.com/profile/00410804549441516915noreply@blogger.comtag:blogger.com,1999:blog-11333084.post-25054578140788349432007-09-01T11:18:00.000-02:302007-09-01T11:18:00.000-02:30From Today's Telegram:Grits are late to the game ...From Today's Telegram:<BR/><BR/>Grits are late to the game <BR/>The Telegram<BR/><BR/>A rearguard action is usually described as “an attempt to prevent or delay defeat.” It’s also described as “to try very hard to prevent something from happening when it is probably too late to prevent it.” <BR/><BR/>Welcome to the provincial Liberals, and their 13 written questions about the proposed Hebron oilfield deal. <BR/><BR/>More than a week after Premier Danny Williams announced a deal to develop the Hebron oilfield, the opposition Liberals released a letter to the premier, asking for the answers to a series of questions about the deal. <BR/><BR/>The 13 questions they’ve put forward are thoughtful, some are quite valuable, but the fact is that they’ve been overtaken by time. <BR/><BR/>There are questions like “How long will it take government to recover its investment?” and “What risks has the province been exposed to related to liabilities such as environmental clean-ups or cost overruns because of the equity position?” <BR/><BR/>It’s valuable stuff: after all, we should know what we’re on the hook for now that it appears we’re going to be oilfield owners as well as oilfield regulators and overseers. <BR/><BR/>There’s a lot of information that’s missing at this point, information that will hopefully be made much clearer before a deal is actually signed. <BR/><BR/>So the Liberals have a point — but unfortunately, it’s a point that will only be above water for, at most, a day or two, before being buried by every other newsworthy thing that happens in a week. <BR/><BR/>The Liberals may get a response from the premier; they may not. But, boy, they’ve been awfully slow off the mark. If their plan was to keep the issue of government secrecy on the deal in the public eye, they’ve missed the boat big time. <BR/><BR/>In news terms, their reaction time has been positively glacial. <BR/><BR/>When Williams announced the project, you can be sure that he and his team calculated the expected effect of refusing to release the memorandum of understanding. As part of that, they certainly factored in the virtual certainty that the opposition would squawk about the proto-deal one way or another. <BR/><BR/>Then, Williams and company went ahead and refused to release the document anyway, and will almost certainly block any release of the document for as long as they choose. If the government responds to Reid’s letter (they probably will, just to prevent new bleats about government secrecy), you can be sure that the response will create even a quieter splash than Reid’s original letter. <BR/><BR/>The Liberals themselves are probably wondering why their careful, thoughtful work didn’t get more of a bang — and, as often happens, they’ll probably blame the media, saying we’re too onside with the premier, or too lazy, or too partisan. <BR/><BR/>A poor carpenter blames the tools. <BR/><BR/>With all due respect, the Liberal questions are too little, too late. <BR/><BR/>An earnest opposition is a wonderful thing. <BR/><BR/>But without the benefit of a sense of political timing, they’ll be fighting rearguard actions forever.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11333084.post-86786052465940519932007-09-01T01:41:00.000-02:302007-09-01T01:41:00.000-02:30Purely a political question intended to score poin...<B>Purely a political question intended to score points.</B><BR/><BR/>A perfectly valid question.<BR/><BR/>Danny Williams complained that there wasn't enough detail in the Voisey's Bay Statement of Principles from June 02, an 18-page document.<BR/><BR/>Now, we have a ZERO-page document.<BR/><BR/>Danny and his apologists better be prepared to take flack, after what they did on the Voisey's Bay issue.<BR/><BR/>And Danny should also explain why he was so quick to acquiesce to the oil companies' demands for secrecy. What, is he their Buddy or something? I though Danny was going to "stand up" to them, and "fight"?WJMhttps://www.blogger.com/profile/08070910923518931583noreply@blogger.com