RE:RE:Oil at $50.13 USDUS oilco's like Exxon, Chevron and others were up today.
Most Canadian oilco's sold off.
Sorry chaps, but no love for Canadian oil companies until Justin Trudeau is shown the exit
It's really that simple.
Vermillion, regardless of Brent oilfields, is lumped in with other companies as Canadian
The play is to buy US oil, international oil (and then hedge by shorting Canadian oil).
The press and media today was filled with the news of more pipeline protesters
LNG pipeline protesters, along with RCMP arrests, but it doesn't matter
Still more protests, more delays, more obstruction
Trudeau hides from the media on days like this
he has no spine
Investors are fed up... no longer want anything to do with Canada.
So Canadian oilco's are sold off on a day when Brent/WTI price is up, and US oilco's are up
That's what it comes down to... international investors won't touch Canadian oil
And the incremental Canadian oil investor is just fed up with...
- continued protests
- continued obstruction
- continued delays
- continued inaction on the part of the federal government
So why invest?
Especially when other jurisdictions, like US, offer better risk/reward