Punishment cont.CPG is an execise in punishment but they are in a lot of good company, You just had to
know with any kind of weakness in WTI, it would head down like the Titanic. At some point
it will be a buy but not yet. For those who were critical of the hedges they put on when oil
was climbing, now they are a godsend, which just tells you no one has any clue where oil
prices are going and guessing is not really a strategy for success. Hedging is still a smart
tool in this environment but little credit is ever given for it.