RE:Enough on Brownface... Let's talk about Cardinal pleaseIt's difficult to know what to make of the Saudi situation absent more reliable information. 3 months at reduced capacity seems like as good a guess as any. To me it feels like a one-off event at the moment and the so called risk premium seemed to evapoorate pretty quickly and don't expect it will re-appear absent another attack.
I think Trudeau will win the election, Scheer is just too weak. hopefully not a minority govt in concert with the Greens. I think TMX goes ahead anyway and more ENB capacity starts to materialize on their lines. I've lost track of where KXL is in the process, but I think the lat news on it was positive.
An interesting aspect is that US production seems to be plateauing finally and if this is the case it could prove very bullish for oil especially in concert with geopolitical tension.
I think tax loss selling will bring severe pressure to oil stocks near the end of the year, particularly if it coincides with a general market meltdown.
I see the next 3 month as a series of peaks and valleys between 2-3 $ with things possibly improving after that only if a recession is avoided. In a recession we stay in the 2-3 $ range until it is over.
CJ needs to just keep doing what it is doing. Churning out cash, buying back shares and paying down debt. No more divvy increses until the share price goes up though. Right now they are pushing on a string.