Big money's goal is to wipe out Canada's energy industry?Nuttal says that at this price virtually none of Canada's energy stocks are viable businesses. Like 95% of them are not. It's a really scary thought that if this surpressed condition continues - many Cdn energy companies will not be able to survive and will be forced to sell assets to foreign entities for pennies on the dollar. Alberta government needs to suspend corporate tax, provide liquidity and perhaps the Sec needs to disallow shortselling. Something needs to be done otherwise Canada will lose the control of many resources.
API crude stock report showed a drawdown of 7.5 million barrels vs +2.5 million expected built. In a "normal" environment, this news would lead to at least a 2-3% jump in the price of oil futures but instead WTI futures at -0.17% right now. Major downward pressure.