Don't dismiss oil below $35.00The Alberta economy is already on the skids and things are going to get much worse as Capital Budgets are slashed. With hedges coming to an end this will have a huge impact on cashflow not to mention the writedowns and the loan convenant violations which will put in question the ability of these Companies to remain viable. Take a drive through Alberta and take a look at the inventories sitting on Dealers lots both new and used. I fully expect that the next shoe to drop will be the dividends. Leverage works great when you have over 60 profitable entities however leverage works both ways. IMO the leverage is now a liability!