RE:RE:RE:RE:RE:RE:RE:RE:API Inventory:Quintessential1 wrote: I didn't say the Saudi's wanted Republicans in the White House you did. I said they may want them in but I think it was more the Russian side of OPEC+ for obvious reasons.
Sure They could just give the Russian's back the Ukraine by not funding them.
Then the rest of the old Soviet Block...then Poland...I've read this story before somewhere.
Higher oil prices are good for Canada and for US producers...not mixed for US producers.
Aside from excess inflation are we really goin to pretend that we care about consumers on this board?
Consumers did fine during covid...gasoline was real cheap. Producers? Not so much.
Post covid producers raked it in and consumers got hosed at the pumps and everywhere else because of high fuel costs. There has to be a happy medium somewhere. $75-$85 WTI seems to be just about right inflation wise. At least the BOC and the FED seem to think so...maybe.
Cheap oil and fuel prices won't be good for Canadian or US producers except those with deep enough pockets to outlast those without and even then there has to be a give. Eventually producers need to make profits whether Canadian or US.
What we need to ask ourselves here is can CJ withstand prolonged sub $60 WTI if that is what drill baby drill brings again? And why wouldn't it?
Maybe once SAGD comes online. It should be just in time. That is if the Republicans win.
GLTA
CJ will survive prolonged sub 60. The existing dividend won't. It'll get slashed big time at mid 50 oil and that will cause a tank in the SP.