Post by
kavern23 on Mar 14, 2023 11:07am
Reasons
One of the reasons why CJ is up today even with WTI dropping below 74 is Canadian heavy oil is still a stronger price than Q4 2022 as the heavy oil differetials have improved so much.
Off top of my head, heavy oil was like 49-52 USD in December even with strong WTI.
Heavy differential is like 15 bucks instead of 25 or higher...this is offset WTI drop.
right now heavy oil is 59USD...that is really good with canada/usd exchange rate.
Under 50 USD for heavy oil is when things get greasy.
Comment by
kavern23 on Mar 14, 2023 11:10am
And with MR trudeau in power expect the CAd dollar to continue to be weak as f*ck.
Comment by
caretired1 on Mar 14, 2023 11:47am
I think the 2023 plan is based on $80 oil and a $15 price diff so net 65, no?
Comment by
kavern23 on Mar 14, 2023 12:25pm
2023 Budget used 18 USD differetial and 78 cent exchange rate. Exchange rate is 73 curently. And power prices will lower in Alberta during the summer. Just need commodities to stabilzie but still not danger zone for company like CJ.
Comment by
GoldenArm1 on Mar 14, 2023 12:11pm
We get rid of Trudeau as PM and the oil industry in Canada will boom again. Regardless a company that earned 1.92/shr (dil) is trading at less than 4 PE multiple and it pays a healthy dividend. Only Trudeau lovers stay out of this stock to their own detriment.
Comment by
kavern23 on Mar 14, 2023 12:27pm
Biggest mystery in the world how any Canadian can support Trudeau. He as zero clue on how to lead or plan or run a country.