RoBTV: Glenn MacNeill, Sentry Select on Oil GasGlenn MacNeill, vice president of investments, Sentry Select Capital Corp on RoBTV
On Oil:
been three weeks energy side, softness in both oil and gas markets, lot of oil markets caused by higher inventories which have been result by slowdown in US economy..US and Canada largest per capita basis of oil..although we have actually seen some inventories go down like crude oil but heating oil and gasoline go up, market worried..I was expecting crude oil to trade around $55-65..now we are looking at $50..we are starting to see a base building again..we need cold weather to last quite a long time because gas inventories are quite high, excess heating oil as well..we have been buying oil and gas stocks and trusts since November 2005, have not been buying service companies..alot of bull market has been driven by China and India, do not see double-digit growth rates changing, at least 2-3 more years..a recovery in US economy driven by soft landing will put prices back up again
https://oilstocksinvesting.blogspot.com/