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As a change of pace we will not dwell on the BP underwater dam burst (that’s what it is folks not a “leak”), inventories, the threat of hurricanes (an annual event), or whatever the Chinese have decided to do with their currency this week…
That way we will all not be sent into financial fainting spells while not really understanding why (and the Chinese not really caring why so we are all even). Sort of as exciting as a soccer game…..nil-nil, nod-nod, wake me when they have commercials. Cynical venting now complete, let’s turn to some developments that are cause for discussion, which is why we are going to discuss them. Although the two key issues concern recent activities in the east, those in the west should take notes as to what can happen depending on the mood swings of government and big oil.
Firstly, the Pilot buyout of Flying J was formally approved on June 30 with the proviso that 26 Pilot or Flying J sites in the US had to be sold. The most notable benefit to the trucking industry seems to be the acceptance of TCH cards at Pilot sites and Comdata cards at Flying J sites. Flying J restaurants will however loose their particular identity and popularity, as they will be converted into the fast food trio of Denny’s, Pizza Hut and Subway. The most disturbing aspect of this buyout is that it looks like Pilot is not interested in Ontario, Quebec or the Maritimes. So what does this news mean for Maritimes and Quebec, central and western Canada? And what is the second development for the QC government data ‘Green Tax.” Find out in this week’s Energy Report.
By: Roger McKnight, Senior Petroleum Advisor
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