RE:RE:Enough already Marty47 wrote: Your post should be removed for off topic lol , you never post anything here if you think politics has nothing to do with this board or oil ..... just wait at the USA election if trump gets in you will see what happen to oil stocks , and for Canada once castreau gone come back and look what will happen to oil and gas company in Canada .....
Well Marty....I don't want to wait....I'd like you to tell us what YOU think is going to happen if Trump is elected and US oil drilling and production surges as Trump promises. What effect do YOU think that will have on Canadian oil stocks?
I'd love to hear FROM YOU how the oil market AND PRICE will react to a surge in US oil production.
The last time that happened was 2014 and the oil price spent 4 long years in the 40 to 50 dollar range before covid took it NEGATIVE for a short while.
Secondly if US oil production surges and presumably fills up Cushing....where will Canadian oil companies ship their oil to??? TMX only has maybe 100k barrel available on a spot basis. When the tanks in Hardistry are just about full... and the oil sands plants are sitll pumping (you can't shut those down)....How low will the WCS price have to be before customers decide to take it away???
In my opinion a Trump victory would be devasting for Canadian producers.....the US would just "kick to the curb" Canadian oil as not needed. Why buy foreign oil when they can produce it themselves.
All of a sudden there will be 4 million barrels a day of Canadian oil with no place to go.
"Say it ain't so, Joe"