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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

Energy Oil & Gas E&P
Cardinal Energy Ltd. is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. The Company is engaged in the acquisition, development, optimization and production of crude oil and natural gas in the provinces of Alberta, British Columbia and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. Its Midale operating area of over 730 million barrels of original oil in place (OOIP) and its low decline in production of 3,200 barrels of oil equivalent per day (boe/d) (net) is supported by both waterflood and CO2 enhanced oil recovery. Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large OOIP pools. Its North area includes Grande Prairie, Clearwater and other properties.


TSX:CJ - Post by User

Cardinal Energy Ltd (Alberta) > Algorithmic traders amplify crude price rout:
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Comment by GoldenArm1on Jun 06, 2024 10:22am
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Post# 36075119

RE:RE:RE:RE:RE:RE:Algorithmic traders amplify crude price rout:

RE:RE:RE:RE:RE:RE:Algorithmic traders amplify crude price rout:
I like the inelastic comment about demand. Keep this in mind: the US dollar is the petro dollar. Majority of oil is bought and sold in USD. Now if oil goes up in price more USD is needed. If Demand goes down less USD is needed. This would also effect the spot price of the USD.

If demand for oil goes down due to forced use of electric vechicles then the price of a barrel will stay hi because the US dollar would collapse. The elites of the World want this to happen so a one world currency takes over. Oil will never go away it is needed to make everything we buy and need to modernize our world including making electric cars.

In conclusion I think the cost per barrel could easily go to $100 sometime in the near future and stay there. My thoughts feel free to add, correct or agree.
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