RE:RE:Market Pricing in Dividend Cut to CPG...?Johnny, I think Mr. Saxberg and the folks at CPG are quite aggressive managers with a rather short-term view of oil prices. WTI never traded above $50 a barrel from 1986 to mid-2004 (18 years)...it then went on a great bull run, and after prices tanked from approximately $140 a barrel in mid-July 2008 $40 a barrel in six months (i.e., between July 2008 and December 2008), WTI was back to $76 one year later and continued its ascent to over $100 where it hovered from early 2011 to mid-2014. Consequently, companies like CPG who had a sizeable amount of their production hedged did not have to wait very long to enter into favourable new hedges. Now, if you think there is going to be a repeat of this recovery, then sure, CPG will probably do quite well. However, I am skeptical given 1) The long history of WTI oil prices trading at levels significantly lower than even today's $60 2) The speed with which U.S. fracking companies can now increase supply profitably should WTI prices rise from $60 to $65 or $70+ (thus putting a drag on the extent of the rise in oil prices) c) The tremendous low-cost oil reserves of countries like Saudi Arabia, Kuwait, the United Arab Emirates, combined with the enormous reserves of nations such as Venezuela, Iran, Iraq, Libya, Nigeria, etc. should one or more of these countries start approaching even a fraction of their oil-producing potential.