RE:various newsfeeds saying TM pipeline variance APPROVED!!!!There are so many variables involving TMX, currently the costs incurred to build will make it unviable for anyone to ship oil so one of three things need to happen, the federal government writes of billions of taxpayers money to make it viable, they actually have to make the deadlines and new ownership must be found before they can carry on business . If the federal government has to run it there will be a revolt in Canada becuase it directly conflict with thier goals for the environment. If they write off billions to make it viable they will also have a revolt and backlash from other pipeline companiues who will take the stand that government is giving TMX an unfair advantage by lowring thier cost of service.
All of this uncertainty is still in the cards in the price of CVE and other explorers that need more egress.
In order for CVE to make thier goals for revenue they have budgeted a WCS delta at $17.00 , today its $22.00 and the economy is not going to be a cakewalk to manouvre around to to go from 22 to 17 will be a challenge.
Uncertainty around egress has hit all explorers and economic turndown has not helped either.
I have accumulated my position in CVE recently not thinking they will surmount all the hurdles above but will slowly grind up to a 4-5% dividend payer with low po ratios and increased stock price ove the next 5 years.