RE:Other influenceswell, i mean there is only $13 left for WCS to fall...
Your fear and concern would be valid if we were still up above $5.... but we just had a 2 handle.
14% yield already has a cut priced in.
$3 equity already has massive fear and $13 oil priced in
It won't be "years". It already has been years. That's why we are here now, at 13. Years at this level and there will be no oil industry left up here. This price today is the culmination of those years. The lethargy and non-action of both government and producers alike -with gov't stifling takeaway infrastructure, and producers continuing to boost production absent said takeaways has gotten us to this dire situation.
but its always darkest before the dawn. With death at the doorstep for this industry, Survival and government self interest from royalty income will force some action. Its already happening today - mandated production cuts now on the table. Something is going to give, it jsut needed a whole lot of pain to make it happen. Equiteis in this sector have lost 15 years of time...is that not enough years?? That's a lot of pain.