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@PATCHnHrd

From the sandface to the sales meter patching hard since ‘06. Oil&Gas engineering. Masters in Energy&ESG. Millennial identifying as a boomer, born at $29.75/bbl

Land of Patch - YYC เข้าร่วม Şubat 2017
2.4K กำลังติดตาม8.1K ผู้ติดตาม
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PATCH@PATCHnHrd·
Wind/Solar+Backup are now where US Shale Oil was in 2013. Shale oil destroyed private capital but created cheap energy for society. RE will destroy public capital leading to expensive energy, a double whammy.
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Benny Johnson
Benny Johnson@bennyjohnson·
I got a call from the White House after this hit on Jesse Waters’ Fox News show last night about the fraud in California. There is a reason Gavin Newsom looks so terrified right now. He should be. Buckle up. The fraud investigation is about to get insane. Starting this week…
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PATCH@PATCHnHrd·
@DiveBomb321 Smart choice! We’re a Banana Republic
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DiveBombTrading
DiveBombTrading@DiveBomb321·
@PATCHnHrd I'm just making fun of draft dodgers, but don't worry the Canadians on X have completely discouraged me from ever living in Canada. 😂
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PATCH@PATCHnHrd·
@HardTruths25 In 2022, Canadian O&G contributed $45.5 Billion to government (royalties and income taxes). This does not account for any payroll tax from the ~140,000 people employed in O&G or Carbon Tax paid. For context, the Manitoba provincial budget in 2022 was $19.2 Billion.
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PATCH@PATCHnHrd·
@CapitalCronik Yea I’ve seen the “reports” and how they swing this narrative so the low IQ’s can rally behind the headline.
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Patrick Seguin
Patrick Seguin@CapitalCronik·
@PATCHnHrd Well in North America we absolutely subsidize the energy section. What world do you live in?
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PATCH@PATCHnHrd·
@theRealBo786 @mcneillb Energy tourism is a disease. The CBC has completely rotted his brain right out
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Blake McNeill
Blake McNeill@mcneillb·
@PATCHnHrd So LNG Canada is happy about this as they stand a chance to gain at no risk of losing, because they already hold an existing approval.
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PATCH@PATCHnHrd·
@mcneillb Mandate electrons. But can’t supply them. K, make it make sense. Run them on gas turbines. Less expensive (unless you’re forced to pay carbon tax!) and more reliable than grid power. Canadian logic!
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PATCH@PATCHnHrd·
@mcneillb Compressors needed to move 4bcf on Costal needs to be electrified to meet the requirements. Along with the plant itself. Energy tourism is a disease. This is a big reason why Ph2 is not FID’d
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PATCH@PATCHnHrd·
@mcneillb West Coast LNG. Fed from the Montney in NEBC. East cost LNG only helps the US
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Blake McNeill
Blake McNeill@mcneillb·
@PATCHnHrd Shipping Alberta natural gas to the east coast was never a viable means for supplying feedstock to an east coast LNG plant as tolls and fuel gas instantly made that idea uncompetitive on the global market.
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PATCH@PATCHnHrd·
@mcneillb The option was for us to get out shit together before things blew up. But that’s not how we do things in Canada. Our LNG exports is another prime example. Look no further than the Net Zero reg’s and electrification requirements and can’t even be met by the grid. Shit show
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PATCH@PATCHnHrd·
@mcneillb Tell me you’ve never built a pipeline without telling me you’ve never built a pipeline…. And just so I understand…TC going 2x over with private capital is bad. But TMX going 4x over with public capital (yours and mine) is good? This is your brain on CBC
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Blake McNeill
Blake McNeill@mcneillb·
@PATCHnHrd If your a building contractor and don't know your environmental time constraints maybe you shouldn't be a building contractor. This is how they blew up their budget (strangely all occurred during construction), and blame it on the environmentalist who completed their work already
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PATCH@PATCHnHrd·
@mcneillb Pipelining is a tough game for sure. Lots of unknowns. I’ve built many. None that have gone 2-4x over mind you, but I do get it. But to say Canada did industry a favour for building TMX is misplaced, it was quite the opposite. You and I paid for that. Didn’t have to
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Blake McNeill
Blake McNeill@mcneillb·
@PATCHnHrd Now if you are some BS construction company you under bid to get the project and then because you under bid you use undersized equipment or staff and then blame it on spawning constraints when you blow your schedule.
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PATCH@PATCHnHrd·
@mcneillb A big reason for some of those cost over runs is our punitive regulatory environment. When you have to stop work because of a birds nest, that costs money. One of many government related hurtles TC had to manage. Cost of doing business in Canada.
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Blake McNeill
Blake McNeill@mcneillb·
@PATCHnHrd KM estimate of $7.4 Billion was laughable. Coastal Gaslink was half the length and didn't go through any major urban centers, and their cost estimate was $6.2 Billion which blew up to $14.5 Billion but I guess you would say that is because TC Energy was a clown show.
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PATCH@PATCHnHrd·
@mcneillb They took their money and invested in the US, ~$18 Billion in the following years. Capital is mobile and doesn’t like risk, which is why it left Canada for a safer jurisdiction
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Blake McNeill
Blake McNeill@mcneillb·
@PATCHnHrd Kinder Morgan was over $40 Billion in debt, they didn't have money to build squat never mind the TMX. x.com/mcneillb/statu…
Blake McNeill@mcneillb

@GK_Fellows The year is 2015, Kinder Morgan's stock price imploded wiping billions from their books. The problem, KM was leveraged to the nuts with over $40 Billion in debt and a collapsing oil price.

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PATCH@PATCHnHrd·
@mcneillb You have far too much faith in Canadian governments ability to execute on anything. Look no further than TMX. Kinder was going to have it built by 2018 for $7 billion. Canada for it on in what 2022 for $30 billion? Clown show
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Blake McNeill
Blake McNeill@mcneillb·
@PATCHnHrd Norway, Saudi Arab, UAE, Qatar, Kuwait etc are just a few government run O&G industries that would happily disagree with you, but go on.
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PATCH@PATCHnHrd·
@mcneillb Industry spends billions every year on reclamation. TMX was one of the biggest political blunders in history. Kinder was ready and willing to build that line with private capital. They left due to our ridiculous regulatory framework, as they should.
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Blake McNeill
Blake McNeill@mcneillb·
@PATCHnHrd Who is paying unpaid lease agreements, missed taxes etc? Who covered the cost overruns of the Sturgeon refinery? Who covered the cost of the TMX? Who going to cover reclamation costs and with what?
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PATCH@PATCHnHrd·
@mcneillb Tell me you know nothing of energy without telling me… Energy tourism is a disease
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PATCH@PATCHnHrd·
Energy subsidizes governments. Government does not subsidize energy
PATCH@PATCHnHrd

@HardTruths25 In 2022, Canadian O&G contributed $45.5 Billion to government (royalties and income taxes). This does not account for any payroll tax from the ~140,000 people employed in O&G or Carbon Tax paid. For context, the Manitoba provincial budget in 2022 was $19.2 Billion.

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PATCH@PATCHnHrd·
@mcneillb Governments cannot manage assets like Oil and Gas resources, which is why they strike the deal (royalties) with the competent risk taking private sector. Government could develop, but they choose not, because they know they’re incompetent.
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PATCH@PATCHnHrd·
@mcneillb That’s why oil and gas companies pay royalties. We take on all the operational, technical, pricing, and regulatory risk that the government doesn’t want. Government clips their risk free coupon in a mutually beneficial agreement they set up through their own royalty structure
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