Engine Spec’ing 101

U.S. Oil Glut Turns Canadian Pipeline Problem on Its Head

(Bloomberg) -- The world-wide coronavirus pandemic that’s caused oil demand to plummet has turned the Canadian oil patch’s biggest problem on its head. Rather than having too few oil pipelines, the province now has too many.The collapse in oil demand caused by people staying home has reduced U.S. demand for Canadian crude, leaving pipelines struggling to stay full. After more than a year of rationing space, Enbridge Inc. announced it had additional space on its Mainline pipeline system for both heavy and light crude in April. TC Energy Corp. also issued a call for crude on its Keystone pipeline running from Alberta to the U.S. Midwest.At the same time, the lack of a price difference for crude from Canada makes it unprofitable to ship the country’s crude down pipelines to the U.S. Midwest and Gulf Coast. Heavy Western Canadian Select oil is trading at a $13.50 discount to West Texas Intermediate...

Will We Have To Pay Back The Stimulus Check Money?

This week, the IRS began direct depositing stimulus checks, and some 80 million Americans should receive their checks today. Even if you haven’t received yours yet, you can see the status of your payment on the new IRS tracking tool, though it may currently be overloaded due to high demand. But as you breathe a sigh of relief seeing the payment in your account, you may still be confused about whether it comes with strings attached, or whether you’ll have to repay it down the road. The short answer is that you don’t have to repay the stimulus money to the federal government in any way. It’s not a loan. However, after the IRS disburses the money, you may face a roadblock in banks and private debt collectors garnishing your stimulus payment. Read ahead to find out who can touch your stimulus check, and for what reason.Your stimulus payment will not...